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Recorded at the Request of <br /> and when recorded, return to <br /> City of Pleasanton <br /> P O Box 520 <br /> Pleasanton, CA 94566 <br /> E,tempt pei Gov Code ys27383 <br /> AFFORDABLE HOUSING AGREEMENT <br /> This Affordable Housing Agreement ("Agreement") is made 2017, <br /> by the City of Pleasanton. a Municipal Corporation ("City"), and ("Developer") <br /> Recitals <br /> A Developer currently owns, or has an interest in, an approximately fifteen (15) acre site at <br /> 3988 First Street, 3780 Stanley Boulevard and 3878 Stanley Boulevard, Pleasanton, <br /> California, more particularly described in Attachment 1, attached and incorporated by <br /> reference ("Property") The Irby Family, LLC, ACHF Kaplan LP, and the Zia Corporation <br /> also have ownership interests in portions of the Property <br /> B For the Property, Developer is in the process of obtaining a General Plan Amendment, <br /> Downtown Specific Plan Amendment, Planned Unit Development Rezoning, and <br /> Subdivision to develop a residential housing project consisting of approximately 87 single- <br /> family homes ("Project") <br /> C In accordance with Pleasanton Municipal Code Section 17 44 020, Developer is requited to <br /> provide twenty percent (20%) of units in the Project at prices which are affordable to very <br /> low, low and/or moderate income households, of to satisfy the requitement through an <br /> alternative means <br /> D Developer and the City wish to address the affordable housing component of the Project <br /> through an opportunity to support a concept proposal from Sunflower Hill, a Pleasanton- <br /> based California public benefit corporation, that works to develop housing options with <br /> services and activities to help those with special needs better integrate vocationally and <br /> socially within society by (1) assisting with the application for land use approvals necessary <br /> to develop the Sunflower Hill concept proposal, including basic site plan drawings and <br /> necessary studies and investigations related to the determine the suitability of the dedication <br /> parcel for development by Sunflower Hill, (2)providing 164 acres of the Property which has <br /> been graded and utilities stubbed to the site for multi-family affordable housing, and (3) <br /> providing One Million Dollars ($1,000,000) to support affordable housing on that 1 64 acre <br /> portion of the Property <br /> 1 <br />