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council approved the prezoning of Busch property to a “Planned
Unit Development--Medium Density Residential” and approved a 300-
unit plan for development, conditional upon meeting numerous
requirements involving design and home siting, architectural
features, landscaping, construction of park, noise attenuation,
building code compliance, creating a homeowners’ association,
fire code compliance, street construction, grading and drainage
improvements, utilities and related matters. Ponderosa also
agreed to provide Pleasanton 5-1/2 acres for use as a city
corporation yard.
After approval of the plan, local citizens circulated a
petition calling for a referendum involving traffic issues. In
response to citizen concerns, Ponderosa disseminated materials
attempting to show community benefits that would inure if the
project went through. During January 1998 the referendum
petition was filed, and the Pleasanton city council, with
Ponderosa’s approval, instead of addressing the question of a
referendum or other alternative, decided to rescind the ordinance
approving the Busch property plan.
Thereafter, a second amended agreement was entered into and
became effective February 18, 1998. It called for an additional
$375,000 increase to the purchase price and increased the $50,000
per unit over 250 unit amount to $70,000 per unit. The Purchase
Price Escalator was increased from $25,000 to $30,000 from
February 18 until the closing. The second amended agreement had
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Last modified: May 25, 2011