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Because of the additional studies requized. it is not possible to complete a <br />tentative map prior to the closing date. <br /> <br />Annexation - Annexation will be processed by Pleasanton once it has ownership <br />of its portion of the Bemal Property. Pleasanton will process this application as <br />expeditiously as feasible to meet the bidder's development schedule. <br /> <br />To accomplish the above within the short timeframe allowed, the existing Final EIR must be <br />used in approving the project(s). It is, thus, necessary. to conform to all relevant mitigation <br />measures included in that documem. <br /> <br />The bidder's project will be reviewed by the City's Planning Commission prior to review by the <br />City Council. Depending upon the inclusionBay housing elements, it may also be reviewed by <br />the Housing Commission. In order to meet the closing deadline, special meetings are likely. The <br />City Council is anticipating that it complete its final action on the entire project (likely to be the <br />second reading of a PUD ordinance) on or prior to May 30. 2000. Because the approval schedule <br />is extremely tight, the successful bidder and its consultants should be amenable to daily <br />interaction with City staff from selection until approval. <br /> <br />ADJUSTMENTS/MODIFICATIONS TO BERNAL PROPERTY PUD DEVELOPMENT <br />PLAN <br /> <br />Applications should reflect the spirit of the provisions of the Draft Specific Plan (September, <br />1998) and PUD Development Plan (Conditions of Approval. February, 1999) in proposing high <br />quality project(s) which conform to the Pleasanton experience. Applications should seek to <br />creatively apply these objectives and principles to the smaller project(s), maintaining as much of <br />the infrastructure as possible while meeting the $50 million land sale threshold. Pleasanton will <br />work creatively with applicants to structure a project approval meeting the applicants needs as <br />well as those of San Francisco and Pleasanton. <br /> <br />Since only a portion of the Bemal Property would be developed, the development plan elements <br />and conditions will be adjusted and modified to best conform to the development of the two <br />entitled parcels. As the actual proposal(s) for these two parcels are unknown, it is not possible to <br />fully identify every project element which may be required: however, the general <br />requirements/conditions have been identified as follows. The term "conform" means adjust the <br />condition/requirement to reflect the proposal(s) and/or purchaser(s). The notation "n/c" means <br />no change to the condition. <br /> <br />Page3 EXHIBIT <br /> <br /> <br />