CITY COUNCIL REGULAR MEETING AGENDA PACKET

Ordinance No. 2285 Page 2 of 4 meeting, the City Council reviewed written and oral staff reports, conducted a public hearing on the Project and took testimony, and received into the record all pertinent documents related to the Project (collectively, the “Record Evidence”). The City Council’s determination is based on the Record Evidence, which is incorporated into this Ordinance by reference. SECTION 3. Findings for approval of the Pre-Annexation and Development Agreement With respect to the Pre-Annexation and Development Agreement for Case Nos. P22- 1089, PUD-147, Tract 8522, and P24-0378, the City Council makes the following findings: Based on the negotiated terms specified within the Pre-Annexation and Development Agreement, the City Council finds the City would receive at least equitable financial and other public benefits over the initial term of the agreement, compared to the value of terms that are to the benefit of the developer. In particular, but not limited to, the City would secure additional multimodal improvements along Foothill Boulevard and within the Project in the form of a trail extension, would receive a direct financial contribution in the amount of $1 Million to support the provision of needed public safety improvements and equipment. Notably, and again not limited to, the City would receive full payment of Capital Facilities and Transportation Impact Fees, without any fee credits for proposed public improvements, to help offset the demands created on City facilities by the incremental addition of new residents to the City. Finally, on-site affordable units is a positive benefit of the Project. SECTION 4. Findings for Consistency with the General Plan. The City Council finds the agreement would be consistent with the General Plan and support a number of its policy goals around Land Use, Housing, and Sustainability, including the Property’s Land Use Designation of Low Density Residential (LDR) and Housing Element Sites Overlay (HESO) permits residential uses; thus, the Project would be consistent with the General Plan Land Use Designation. SECTION 5. The City Council has considered the findings made in Planning Commission Resolution No. PC-2024-14, and hereby adopts the same findings by this reference, and based upon the City Council’s own independent review and considerations, the City Council Approves the Pre-Annexation and Development Agreement with Foothill Boulevard Holding Company, LLC, a copy of which is attached hereto as Exhibit A and incorporated herein by this reference, and hereby authorizes the City Manager to execute the Pre-Annexation and Development Agreement in substantial conformance with the form attached in Exhibit A, subject to minor amendments and approval by the City Manager and City Attorney. SECTION 6. Severability. In case any provision in this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability. SECTION 7. A summary of this ordinance shall be published once within fifteen (15) days after its adoption in “The Valley Times,” a newspaper of general circulation published in the City of Pleasanton, and the complete ordinance shall be posted for fifteen (15) days in the City Clerk’s office within fifteen (15) days after its adoption. SECTION 8. This ordinance shall be effective thirty (30) days after its passage and adoption. {Vote and signatures to follow on next page} Page 142 of 454