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built on slopes greater than 25%, in that the grading for the road would not be for the purpose of constructing new residential or commercial structures. However,under the Initiative, it is not certain if a road built to serve a new residential project(such as, in the case of the Bypass Road, development in the Spotomo Flat) is prohibited because it would require grading on slopes which are 25% or greater. Similarly, because the Initiative prohibits structures being placed on slopes of 25% or greater,the road's construction could be prohibited if retaining walls are considered structures under the Initiative and retaining walls six feet or higher are needed for the road's construction over slopes of 25% or greater. Depending, therefore,on how the policy is interpreted, the Bypass Road's construction could be prohibited. Such a prohibition against constructing the Bypass Road would create a conflict with the Circulation Element of the Happy Valley Specific Plan,as it relates to both vehicular traffic and to the public trail which was proposed along the Bypass Road. 4.3. Impact on Ability to Attract and Retain Businesses and Employees It is not possible to specifically quantify how the proposed Initiative would impact the City's business and employment base. There would be no direct effects since from a practical perspective, the Initiative would apply almost entirely to residential development, not commercial (there is only one commercial site, at the intersection of Foothill Road and Dublin Canyon Boulevard, that would be affected). Furthermore, as indicated in 4.1, above, the implementation of the hillside development regulations would not reduce the total number of residences ultimately built in the City; it would only be the location and type of housing units that would be affected. The City's jobs/housing ratio would generally remain the same. However, to the extent that the remaining housing to be developed under the cap would include more multiple family development and smaller single family infill housing and less large-lot hillside single family housing, the Initiative may well result in the construction of more work force housing than would occur under the current General Plan. The presence of more work force housing may be considered attractive to potential businesses that are considering locating to Pleasanton. However, if the Initiative's definition of a"housing unit" were to result in future assisted living units being counted as housing units towards the cap(which is not die City's current practice),then fewer conventional housing units would be available to be added to the City's housing stock than is currently expected. Asa result,the production of new housing, including new work force housing, could be limited. 9