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12 <br />ORDINANCE NO. 1964 <br />AN ORDINANCE APPROVING THE THIRD AMENDMENT TO THE PHASE I <br />AND PHASE 11 DEVELOPMENT AGREEMENTS BETWEEN THE CITY OF <br />PLEASANTON AND PRUDENTIAL INSURANCE COMPANY GOVERNING <br />THE HACIENDA BUSINESS PARK <br />WHEREAS, Government Code Section 65865 through Section 65869.5 <br />authorizes cities and counties to enter into binding development agreements with <br />persons having legal or equitable interests in real estate property for the development of <br />such property; and <br />WHEREAS, BRE Properties, Inc. has made application to the City for a Third <br />Amendment to the Phase I and Phase II Development Agreements to extend the <br />Agreement for afive-year period from 2008 to 2013 for nine properties within Phase I <br />and Phase II of the Park; and <br />WHEREAS, the extension of the Agreements for afive-year period for the nine <br />properties will not have any impact on any other part of the Agreements; and <br />WHEREAS, the project is not defined as a project by the California <br />Environmental Quality Act (CEQA), Sections 15060 and 15378; and <br />WHEREAS, Council received the Planning Commission's recommendation for <br />approval of the proposed Third Amendment to the Development Agreements; and <br />WHEREAS, a duly noticed public hearing was held on November 6, 2007; and <br />WHEREAS, the Council finds that the Third Amendment to the Development <br />Agreements between the City of Pleasanton and the Prudential Insurance Company is <br />consistent with the City's General Plan. <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES <br />HEREBY ORDAIN AS FOLLOWS: <br />SECTION 1. Approves the Third Amendment to the Development Agreements <br />between the City of Pleasanton and the Prudential Insurance Company, the final <br />form of which is to be approved by the City Attorney. <br />SECTION 2. Authorizes the appropriate City officials to execute the <br />above-referenced Amendment when approved as to form by the City Attorney. <br />SECTION 3. A summary of this ordinance shall be published once within fifteen <br />(15) days after its adoption in `The Valley Times," a newspaper of general <br />circulation published in the City of Pleasanton, and the complete ordinance shall <br />