The U. of A. Science and Technology Park Annexation District (the “District”) was initiated at the request of KB Home and the University. This annexation is part of a larger transaction between the University and KB Home involving an exchange of approximately 130 acres at the University of Arizona Science and Technology Park (“the Park”) to KB Home for approximately 65 acres of land at 36th Street and Kino Boulevard purchased by KB Home. The City will annex the portion of the Park that will be owned by KB Home and developed for residences, a portion that remains part of the Park that is to be developed as a hotel/commercial area along Kolb, a school site, and open space. A Pre-Annexation and Development Agreement between the State of Arizona and the City of Tucson was approved by Mayor and Council on March 22, 2005.