CITY COUNCIL REGULAR MEETING AGENDA PACKET

CEQA Guidelines §15061(b)(3) (common sense exemption). Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. SECTION 2. Approves the Assignment and Assumption of Ground Lease, Consent to Transfer of Project, and Grant of Option to Extend Ground Lease Term Agreement (the “Agreement”), contingent upon the payment in full of all loan obligations owed to the City by Promenade and Case which shall occur concurrently with the close of escrow for conveyance of the Project and the leasehold interest in the Property to OAHS Promenades. (A true and correct copy of the Agreement is attached hereto and incorporated herein as Exhibit B.) SECTION 3. Authorizes the City Manager and City Attorney to make minor modifications to the Agreement, including any extensions or minor amendments that are necessary in the future; and authorizes the City Manager or designee to execute such additional documents and to take all steps necessary to implement the transactions described in this Resolution. SECTION 4. The Resolution shall become effective immediately upon its passage and adoption. PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at a regular meeting held on August 20, 2024. I, Jocelyn Kwong, City Clerk of the City of Pleasanton, California, certify that the foregoing resolution was adopted by the City Council at a regular meeting held on 20th day of August 2024, by the following vote: Ayes: Noes: Absent: Abstain: _____________________________ Jocelyn Kwong, City Clerk APPROVED AS TO FORM: ___________________________ Daniel G. Sodergren, City Attorney Exhibit A – Legal Description of Property Exhibit B – Assignment and Assumption of Ground Lease, Consent to Transfer of Project, and Grant of Option to Extend Ground Lease Page 265 of 454