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THE CITY OF 4 pL'EASANTON. CITY COUNCIL AGENDA REPORT July 16, 2013 Community Development Planning Division TITLE: CONSIDER AN APPLICATION FOR A DEVELOPMENT AGREEMENT TO VEST ENTITLEMENTS OF THE PROJECT PUD-81-30-87D CONSISTING OF 168 APARTMENT UNITS AND RELATED SITE IMPROVEMENTS SUMMARY PUD-81-30-87D, a Planned Unit Development (PUD) development plan for a 168-unit apartment project was considered at a public hearing by the City Council on May 8, 2013, and was approved on June 18, 2013. The project developer, Hacienda Pleasanton L.P. (known as St. Anton Partners during the project review), wishes to enter into a Development Agreement with the City of Pleasanton in order to vest these entitlements, as authorized by California Government Code sections 65864 et seq. A Draft Ordinance and Development Agreement are shown in Attachment 1. PLANNING COMMISSION ACTION At its meeting of June 12, 2013, the Planning Commission recommended approval of the Development Agreement by a vote of 5-0 on the Consent Calendar. RECOMMENDATION 1. Find that the conditions described in CEQA Guidelines Section 15162 have not occurred as described in the Addendum to the SEIR and find that the previously prepared SEIR, including the adopted CEQA Findings and Statement of Overriding Considerations, and the Addendum to the SEIR are adequate to serve as the environmental documentation for this project and satisfy all the requirements of CEQA; 2. Find that the proposed development agreement is consistent with the General Plan; 3. Introduce an ordinance approving Case No. P13-1944, as shown in Attachment 1. FINANCIAL STATEMENT The development project would be expected to generate revenues to cover its costs of services. Increases in property taxes would be used to provide services, such as police, fire, etc. for the increased demand generated by the apartments. The applicant would also pay development impact fees (e.g. in-lieu park dedication fee, public facilities fee, traffic fees, water/sewer connection fees, etc.) that are used to pay for the cost of new City facilities and infrastructure necessitated by this development. The Development Agreement approval would lock in the amount of these fees and memorialize other development obligations.