TRANSFER PROPERTY TAX REVENUES RUBY HILL/ALDEN LANE/VINEYARD AVENUE

NOV-19-92 THU 11 36 CITY OF LIVERMORE FM NO, 510313b135 N U4 �+.. ......... t_ A_. ..._.. ._ Prom 1- kae Company Company location Dept Charge Locauon FAX r ?a won*• Fax r ?U4Mano# Cdyntl �pearroy �Relum ❑Cellror pickup Commuma DispaaMon. EXHIBIT C • Written assurances by Pleasanton to participate in the proposed South Livermore Valley Area Plan by requiring, to the extent allowed by law, those properties identified in the Plan as within the Vineyard Avenue Corridor Transitional Area to pay agricultural mitigation fees, as specified in the proposed Plan. This requirement will be included as a provision in any Specific Plan, pre-annexation agreement, or conditions of approval adopted by Pleasanton for these properties. Such assurances on behalf of the City of Livermore are provided for pursuant to the Settlement among the City of Livermore, the County of Alameda and the Ruby Hill Development Joint Venture. • Pleasanton agrees to collect all traffic and agricultural mitigation fees approved by the County for the Ruby Hill project. Agricultural mitigation fees shall be paid to the County, and all traffic fees shall be paid to the City of Livermore. The City shall collect their affordable housing fee and consult with the County regarding uses proposed by the City of Pleasanton for the housing fees collected from the Project. • Agreement by Pleasanton that the Ruby Hill property will be developed as approved by the County. No changes to the approved site plan will be made that would change the total number of units by more than 15%, decrease the amount of agricultural mitigation fees per unit, or change the nature of the project such that anticipated property tax would be decreased, without the written consent of the County Planning Director or a renegotiation of the property tax exchange agreement. • Livermore and Pleasanton agree to consider a new County Capital Facility Mitigation Fee that would assess new development throughout the County, including development within Pleasanton, for County capital facilities necessary to serve new development provided such fee was directly related to the cost of service of such new development and was not considered onerous to new development. • In the event a new "Mayor's Formula" for property tax sharing upon annexation is approved by the Mayor's Conference and the County of Alameda within two years from the date of this property tax sharing agreement, then this agreement shall be renegotiated to be consistent with said Mayor's Formula for those areas included in this annexation but not part of the Ruby Hill development