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MEMORANDUM OF INTENT <br /> <br /> JOHNSON DRIVE RELOCATION <br /> <br />DRAFT <br /> <br /> This is a Memorandum of Intent to enter into an agreement <br />by and between THE CITY OF PLEASANTON, a municipal corporation <br />("City"); REYNOLDS & BRO~], a California corporation ("R & B"); <br />THE PRUDENTIAL INSUFJ~NCE COMPANY OF AMERICA, a New jersey <br />corporation ("Prudential"); and CALLAHAN-PENTZ PROPERTIES, <br />PLEASANTON, A California general partnership ("CP"). <br /> <br /> WITNESSETH: <br /> <br /> WHEREAS, R & B is the developer of a parcel of about <br /> <br />56 acres located in the City of Pleasanton and known as <br />Pleasanton Park Business Center ("Pleasanton Park"); <br /> <br /> WHEREAS, Prudential and CP are the developers of parcels <br />totalling approximately 800 acres located in the City of <br />Pleasanton and known as Hacienda Business Park ("Hacienda <br />Park"); <br /> <br /> WHEREAS, in February of 1981, the City approved a <br />development plan for Pleasanton Park which called for an <br />improved street system including the widening of Johnson <br />Drive from the westerly property line of Pleasanton Park <br />to its existing intersection with Hopyard Road; <br /> <br /> WHEREAS, in August of 1981, Assessment District 1981-1 <br />was formed by the City to install the landscaping and <br />street improvements required for Pleasanton Park and work <br />was subsequently begun; <br /> <br />-1- <br /> <br /> <br />