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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> ORDINANCE NO. 1155 <br /> <br /> AN ORDINANCE AMENDING SECTION 2-20.04 (EXEMPTIONS) OF <br /> CHAPTER 13 (GROWTH MANAGEMENT PROGRAM) OF TITLE II OF <br /> THE ORDINANCE CODE OF THE CITY OF PLEASANTON <br /> <br />WHEREAS, Section 2-20.04(c) of the GMP contains an exemption for <br /> "projects which have entered into special agreements <br /> with the City to participate in the Mortgage Revenue <br /> Bond Program;" and <br /> <br />WHEREAS, the above exemptions was meant to apply to the <br /> Pleasanton-Newark Mortgage Revenue Bond Program of 1982, <br /> a program which has been completed; and was not meant to <br /> apply to any subsequent bond program; <br /> <br />WHEREAS, the City intends to engage in mortgage revenue Bond pro- <br /> grams in the future to assist developers in making af- <br /> fordable housing available to new residents, but, be- <br /> cause of the requirements of the City's General Plan and <br /> such bond programs, such assistance in practice is <br /> limited to developers who have received all City approv- <br /> als, including GMP approval; and <br /> <br />WHEREAS, the City wishes to clarify the circumstances for which <br /> exemption from the GMP is available to projects par- <br /> ticipating in future mortgage revenue bonds; <br /> <br />THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES HEREBY ORDAIN AS <br />FOLLOWS: <br /> <br />Section 1: Section 2-20.04(c) of Chapter 13 of the Ordinance <br /> Code of the City of Pleasanton is hereby amended in its <br /> entirety to read as follows: <br /> <br /> "(c) Projects which have entered into special agree- <br /> ments with the City to participate in the Pleasanton- <br /> Newark Mortgage Revenue Bond Program of 1982 and in <br /> subsequent City mortgage revenue bond programs for which <br /> the City Council has specifically provided by resolution <br /> for GMP exemption at the time the bond program is <br /> initiated." <br /> <br />Section 2: This ordinance shall be published once within fifteen <br /> (15) days after its adoption in "The Valley Times," a <br /> newspaper of general circulation published in the City <br /> of Pleasanton. <br /> <br />Section 3: This ordinance shall be effective thirty (30) days <br /> after the date of its final passage an adoption. <br /> <br /> <br />