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RECOMMENDATION 1. Find that the project would not have a significant effect on the environment and adopt a resolution approving the attached draft Mitigated Negative Declaration; 2. Find that the proposed General Plan Land Use Amendment is consistent with the Goals and Policies of the General Plan; 3. Find that the proposed PUD rezoning from the Planned Unit Development - Commercial-Office District to Planned Unit Development - High Density Residential/Commercial District and development plan are consistent with the General Plan and purposes of the PUD ordinance; 4. Make the PUD findings for the proposed development plan as stated in the April 23, 2008, Planning Commission staff report (Attachment #8); 5. Adopt a resolution approving Case PGPA-13, changing the General Plan Land Use Designation for the site to add "High Density Residential" ("HDR") to the existing "Retail/Highway/Service Commercial; Business and Professional Offices" designation. 6. Introduce the attached draft ordinance approving Case PUD-62, rezoning the site from the Planned Unit Development -Commercial-Office District to Planned Unit Development -High Density Residential/Commercial District and PUD development plan approval to construct a mixed-use, high-density residential/commercial development, subject to the Conditions of Approval, Exhibit "B," and the List of Permitted and Conditionally Permitted Commercial Uses, Exhibit "C;" and 7. Authorize the City Manager to execute an Affordable Housing Agreement substantially as shown in the attached Exhibit "D." FINANCIAL STATEMENT The project would be expected to generate revenues to cover its costs of service. Increases in property and sales taxes would be used to provide services, such as police, fire, etc., for the increased demand generated by the apartments and retail uses. Additionally, the applicant would provide free of charge a 1,040-square-foot space in the building for use by the Pleasanton Police Department and BART Police for routine police duties. The applicant would also be responsible to pay the costs of the necessary utility and infrastructure improvements for the project. As discussed later in this report, the project also includes the waiver of the City's in-lieu park dedication fees for 62 of the units ($494,078.00 total waiver) to enhance the project's affordability. To assure these funds are available for future park uses, staff is recommending the Lower Income Housing Fund be used to "backfill" the in-lieu park dedication fee payment. Page 2 of 9