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III. PROJECT DESCRIPTION <br /> The proposed amendment to the Development Agreements would grant a five-year <br /> extension to December 31, 2018, for the sites listed in Table 1, below. <br /> Table 1: Subject Properties <br /> Property Address' Development Type <br /> (Hacienda Site No.) Approved Floor Area s <br /> Kaiser Permanente2 5800 Owens Drive Administrative Offices <br /> (Site 57) 468,284 sq. ft. <br /> Oracle' 5805 Owens Drive Administrative Offices <br /> (Site 56C) 524,808 sq. ft. <br /> Pleasanton Paper/Unisource 4225 Hacienda Drive Warehouse Distribution <br /> (Site 10B) 389,660 sq. ft. <br /> Roche Molecular2 4300 Hacienda Drive Research and Development <br /> (Site 6) 355,361 sq. ft. <br /> SafeAmerica Credit Union Credit Union/Financial <br /> (Site 5F) 6001 Gibraltar Drive 25,642 sq. ft. <br /> Wal-Mart 4501 Rosewood Drive Department Store <br /> (Site 58A) 126,634 sq. ft. <br /> WP Carey (Shaklee) 4747 Willow Road Research and Development <br /> (Site 7F) 264,153 sq. ft. <br /> 1"United Services Credit Union Credit Union/Financial <br /> (Site 35A) 5901 Gibraltar Drive 20,916 sq. ft. <br /> Total Floor Area 2,175,458 sq. ft. <br /> One address is used for multiple-building developments. <br /> 2 Approved floor area for these developments/properties does not include the garage structure. <br /> The Development Agreements would preserve the Hacienda PUD regulations and <br /> conditions that were in place for these sites when the properties received their PUD <br /> Design Review approvals. <br /> Development agreements are public/private contracts specifically authorized by <br /> California State law with the purpose of providing to property owners more certainty <br /> about the entitlements and exactions that will apply to their property. This is achieved <br /> by the Development Agreement setting forth the rights and responsibilities between the <br /> City and the property owner/developer. Development agreements are primarily utilized <br /> on large, master planned developments that will be constructed in a phased manner <br /> over a relatively long period of time. They, therefore, encourage public and private <br /> investment, including the provision of public facilities that could not normally be required <br /> under a typical development plan review. <br /> The development agreement statute requires that the Planning Commission find the <br /> proposed extension to the Development Agreements consistent with the General Plan <br /> and provide a recommendation to the City Council. <br /> Page 4 <br />