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property minimum and had denied a 1982 request to split the Busch
property into two separate agricultural use parcels. Although
the Busch property was not within Pleasanton’s city limits, it
was within its sphere of influence, and future development would
be dependent upon annexation into Pleasanton. Under Pleasanton’s
General Plan in effect February 1993, most of the Busch property
was designated as medium density residential and a small portion
was designated high density residential. The Busch property
originally included 25 additional acres on its western side that
were sold and used for agricultural purposes and, ultimately, the
25 acres were developed into a mixed residential neighborhood.
During 1986, a 16.66-acre portion of the Busch property was
sold to Pleasanton for use as a maintenance and operations
facility for $1,718,620 or approximately $103,000 per acre.
During 1987, the Pleasanton School District made an offer to
purchase approximately 20 acres of the Busch property for about
$100,000 per acre. During 1993 the School District was again
looking for a future (1995-96) school site. In an internal
school district 1991 planning document it was recommended that a
21.5-acre parcel of the Busch property be considered, and it was
estimated that the value was $250,000 per acre. The school
district normally hires a consultant to provide a fair market
value of land in which the district has an interest. In 1993,
the school district was also looking for a maintenance and
operations facility. In connection with its search for a site,
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