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PUBLIC HEARINGS AND OTHER MATTERS 9. Review of a Revised Affordable Housing Plan for SummerHill Development(5850 West Las Positas Boulevard) Mr. Bocian introduced the agenda report noting that in February 2014 the Housing Commission had approved an Affordable Housing Agreement with SHAC Las Positas Apartments LLC (SummerHill) for a 177-unit rental development that would include a total of 27 affordable apartment units. Since then, the developer has reassessed its development plans and has now submitted a new Planned Unit Development (PUD) application for the same 5.9-acre site at 5805 West Las Positas Boulevard for a 94-unit townhome condominium ownership development in lieu of the 177-unit apartment development. He noted that because this new development exceeds 15 living units it is subject to the City of Pleasanton's Inclusionary Zoning Ordinance (IZO) and also requires an Affordable Housing Agreement. Mr. Bocian reviewed with Commissioners: • Site location, • Current site structure, • Description of the project, • Information regarding current annual income levels from moderate to very low, • Anticipated unit mix that will include ten 2-bedroom affordable units at an estimated sales price of$265,000, • Proposed locations of the affordable units within the development, • General terms of the Affordable Housing Agreement, • Compliance with the Inclusionary Zoning Ordinance • Positive attributes of this this Planned Unit Development, and • Options for the Commission to discuss and the staff recommendation. Commissioner Lombardo discussed with Mr. Bocian the ability of low-income owners to stay in the units should their income grow and whether they would be required to sell the unit. Commissioners discussed with Mr. Bocian the reduction in low-income units from 14 to 10, the development plot plan, and whether in-lieu fees would be put into the Lower Income Housing Fund (LIHF). Commissioner Lombardo commented on the need for affordable housing in Pleasanton and discussed the loss of the affordable units if in-lieu fees are accepted from the developer. Mr. Bocian noted that taking the in-lieu fees would allow the City of Pleasanton to have more funds to do specific projects such as Kottinger Gardens. Mr. Bocian provided Commissioner Soby information about the success of the affordable homes that have been in place for some time in Pleasanton. Commissioner Cass indicated he agreed with the staff recommendation to approve the Affordable Housing Agreement for the SummerHill Development. SummerHill Development representative, John Hickey, provided the Commission with a PowerPoint presentation of the proposed Las Positas Townhome Condominiums, showing the conceptual site plan, landscape plan, and conceptual perspective of the site. Commissioners Lombardo and Soby discussed with Mr. Hickey proposed parking for the Page - 3 -