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