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maximum effective utilization of resources at the least <br /> economic cost to the public. <br /> C. Developer owns certain real property ("Prop- <br /> erty") located in the City, County of Alameda, State of <br /> California which together with contiguous property of <br /> Pacific Telephone & Telegraph Company ("PT&T Property") and <br /> contiguous property of The Prudential Insurance Company of <br /> America ("Prudential Property") comprise the Hacienda <br /> Business Park ("Project") , an industrial and commercial <br /> project of approximately five hundred seventy (570) acres. <br /> The Property, PT&T Property and Prudential Property are more <br /> particularly described in Exhibit 1, Exhibit 2, and <br /> Exhibit 3, attached hereto. <br /> D. City desires Developer to develop the Property <br /> in accordance with this Agreement and the PUD because the <br /> long term orderly development of the Project will provide <br /> many public benefits to City including, but not limited to, <br /> the followiny; <br /> (1) Increased Tax Base. The Project will <br /> provide the City with increased tax revenues (including <br /> real property taxes, sales, business license, and hotel <br /> revenues) from tenants and owners of businesses within <br /> the Project. These fiscal benefits will make possible <br /> improvements in City services, including particularly <br /> police, fire and recreational services. <br /> 3. <br />