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RESOLUTION NO. 2025-037
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON
<br />APPROVING THE SECOND AMENDMENT TO THE AFFORDABLE HOUSING
<br />AGREEMENT BETWEEN THE CITY OF PLEASANTON AND AVALON PLEASANTON,
<br />L.P. FOR THE AVALON PLEASANTON RESIDENTIAL DEVELOPMENT, AS FILED
<br />UNDER CASE NO. PUD -85-08-1 D -6M
<br />WHEREAS, in March 5, 2013, Pleasanton Partners, LLC, a Delaware limited liability
<br />company, made an application to the City for an Affordable Housing Agreement for the
<br />construction of a high density residential/commercial development located at 4400-4460
<br />Rosewood Dr., filed under Case No. PUD -85-08-1 D -4M; and
<br />WHEREAS, the Pleasanton Housing Commission reviewed the Affordable Housing
<br />Agreement at its duly -noticed public hearings of February 21, and March 21, 2013; and
<br />WHEREAS, the City Council of the City of Pleasanton approved the Affordable Housing
<br />Agreement at its regular meeting on April 16, 2013; and
<br />WHEREAS, the City of Pleasanton and Pleasanton Partners, LLC, entered into that
<br />certain Affordable Housing Agreement ("Original Agreement") dated May 7, 2013 and recorded
<br />on June 21, 2013, as Instrument #2013218262 ("Original Agreement'); and
<br />WHEREAS, Pleasanton Partners, LLC, assigned to Avalon Pleasanton, L.P., a Delaware
<br />limited partnership, ("Developer") all of its rights, obligations, title and interest in and to the Original
<br />Agreement pursuant to that certain Assignment and Assumption of Development Agreement,
<br />Indemnity Agreement and Affordable Housing Agreement dated as of June 3, 2022, and recorded
<br />on June 17, 2022 as Instrument #2022113287 between Pleasanton Partners, LLC and Avalon
<br />Pleasanton, LP; and
<br />WHEREAS, on November 10, 2022, the Developer received approval for a modification
<br />(PUD -85-08-1 D -5M) to: 1) modify the site layout; 2) revise the exterior elevations of the buildings;
<br />3) change the retail use of the corner building to a daycare center; and 4) modify the related on -
<br />and off-site improvements; and
<br />WHEREAS, on December 27, 2024 the Developer received another modification approval
<br />(PUD -85-08-1 D -6M) to add a fifth story, containing thirty-one (31) additional units, to the approved
<br />multifamily Podium Building, and the approval of the fifth floor to the Podium Building increased
<br />the residential count from the previously approved 223 units to 254 units, for a total of 336 units
<br />overall for the entire residential development; and
<br />WHEREAS, the City of Pleasanton and Developer executed the First Amendment to the
<br />Affordable Housing Agreement ("Amendment #1 ") dated April 4, 2025 and recorded on April 10,
<br />2025 as Instrument #2025048695 for the purpose of amending the affordability restrictions as set
<br />forth in Section 1 (A) and Section 1 (C) of the Original Agreement ; and
<br />WHEREAS, the City of Pleasanton and Developer desire to execute the Second
<br />Amendment to the Affordable Housing Agreement ("Amendment #2") for the purpose of further
<br />amending the affordability restrictions as set forth in Section 1 (A), Section 1 (C), and Section 1
<br />(F) of the Original Agreement and the First Amendment; and
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