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WHEN RECORDED, RETIIRN TO: <br />City Clerk <br />City of Pleasanton <br />P.O. Box 520 <br />Pleasanton, CA 94566 <br />GROWTH MANAGEMENT AGREEMENT <br />THIS GROWTH MANAGEMENT AGREEMENT is made and entered into <br />on the 1st day of March, 1994, by and between the GREYSTONE <br />HOMES, INC., (hereinafter referred to as "Developer"), and the <br />CITY OF PLEASANTON, a municipal corporation (hereinafter referred <br />to as "City"). <br />R E C I T A L S: <br />A. Developer owns real property in the City of Pleasanton <br />described in Exhibit "A," attached to this Agreement and made a <br />part of it be reference, hereinafter referred to as the "Subject <br />Property." <br />B. The City granted to Developer development plan approval <br />for 90 dwelling units, hereinafter referred to as "the Project." <br />C. Developer in 1989 obtained growth management approval <br />for the Project under the City's then existing Growth Management <br />Program with the following development schedule: <br />1990 40 units <br />1991 50 units <br />D. Developer has not, however, been able to build <br />Project according to the schedule and a number of other <br />developers have likewise not built according to schedule; <br />consequence there is a backlog of unbuilt units which if <br />built in close proximity in time would burden the City's <br />infrastructure and schools. <br />this <br />as a <br />all <br />- 1 - <br />