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AGREEMENT FOR IMPLEMENTATION OF ..RAP <br />EXEMPTION PURSUANT TO RESOLUTION NO. 81-265 <br /> <br /> THIS AGREEMENT is made and entered into this day <br /> <br />of April, 1984, by and between <br /> <br />a California (the "Developer"), and the <br />CITY OF PLEASANTON, a municipal corporation (the "City"). <br /> <br /> RECITALS. <br /> <br /> A. Developer is the owner of an approximately 7.19 <br />acre parcel of land located between Palomino and Tawny <br />Drives approximately 330 feet east of Bernal Avenue, as <br />shown on Exhibit "A" attached hereto and incorporated herein <br />by this reference (the "Property"). <br /> <br /> B. Developer has received City PUD approval authorizing <br />construction of a ].08-unit townhouse project, commonly known <br />as Vintage Terrace, Tract 5008, located on the Property '(the <br />"Project") . <br /> <br /> C. On August 11, 1981, the City Council of the City <br /> <br />of Pleasanton approved Resolution No. 81-265 granting an <br />exemption from the City's Residential Allocation Program for <br />the Project as a lower-income housing project. <br /> <br /> D. The Developer has subsequently filed Tract Map <br /> <br />5008, subdividing the property into 108 townhouse lots and <br />three common area parcels; the Developer intends to retain <br />Lots 53 through 108, inclusive, for use in meeting its <br />obligations incurred in receiving the exemption. <br /> <br />-1- <br /> <br /> <br />