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GROWTH MANAGEMENT AGREEMENT <br />THIS GROWTH MANAGEMENT AGREEMENT is made and entered into on the <br />20~' day of August, 2002, between PONDEROSA HOMES, ("Developer"), and the CITY OF <br />PLEASANTON, a municipal corporation ("City"). <br />RECITALS: <br />A. Developer owns or will own real property ("the Subject Property") in the City of <br />Pleasanton. <br />B. The City has granted to Developer development plan approval for 172 senior <br />apartments and 191 single-family/duet units, ("the Project"). <br />C. Developer is seeking growth management approval for the Project under the <br />City's Growth Management Program. <br />D. City may enter into growth management agreements with project developers <br />meeting the requirements for such agreements pursuant to the City's Growth Management <br />Program Ordinance. <br />E. City and Developer wish to enter into a growth management agreement in order <br />to achieve the benefits of the Project to City and its residents and in accordance with the <br />purposes of the City's Growth Management Program Ordinance; and <br />NOW, THEREFORE, in consideration of the mutual promises expressed herein, City <br />and Developer hereby agree as follows: <br />I. GROWTH MANAGEMENT APPROVAL <br />A. Subject to Chapter 17.36 of the Pleasanton Municipal Code, City hereby grants <br />growth management approval to the Project for development according to the following <br />schedule: <br />Senior Apartments <br />Single-family/Duet units <br />2003 2004 2005 2006 <br />172 <br />110 81 <br />B. As to these units, Developer designates the following as production units and as <br />custom lots: <br />Production Units: 363 <br />Custom Units: 0 <br />