STAPLES RANCH GROWTH MGMT - Laserfiche WebLink

NOW, THEREFORE, in consideration of the mutual promises expressed herein, city and Developer hereby agree as follows: I. GROWTH ~%~NAGEI~ENTAPPROVAL A. City hereby grants growth management approval to the Project for development according to the following schedule: 1991 26 units 1992 60 units 1993 66 units B. The effect of this growth management agreement shall be to permit development in accordance with the Growth Management Program as currently provided in Chapter 17.36 of the Pleasanton Municipal Code. C. In the event of a lawsuit or moratorium the Developer shall have six months from the end of the lawsuit or moratorium in which to use growth management approvals affected by said lawsuit or moratorium. II. CONTRIBUTIONS A. Existing Fees Except for the 26 affordable housing units, Developer shall pay the City all fees in effect at the time each building permit or subdivision approval is issued, including any school impact fee which may then be in force. The parties recognize that Developer may satisfy the requirements of the parkland dedication ordinance by the dedication of land in lieu of paying fees. B. Public Needs In order to meet public improvement needs made necessary by ongoing residential development, Developer shall pay a growth management fee of $750.00 per dwelling unit at the time a building permit is issued for each such unit, except for the 26 affordable housing units. C. Capital Improvements In addition to the fees set forth above, Developer shall pay City the Stoneridge Drive Specific Plan fees, which fees, except for the 26 affordable housing fees, shall be paid prior to the recording of the final map for each phase of the project. With respect to the 26 affordable housing units, the Stoneridge Drive Specific Plan fees shall be paid prior to the recording of the final map for the final phase of the project. City shall deposit said fees into the "Stoneridge Drive Specific Plan Improvements Fund", which Fund shall bear interest. 2