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B. Of the properties subject to the Initiative that can support greater than ten units under the General Plan, the Yee project and the Maroon Creek project(see Exhibit C),both west of Foothill Road, are proposing fewer than ten units, which would exempt these projects from the Initiative. C. The properties that appear to be impacted are the Lester property(off of Dublin Canyon Road)and properties in the Southeast Hills- Lund Ranch II property, the Foley property, potentially the Lin(Oak Grove) property (if that project is overturned by referendum), and potentially the Spotomo property4 (within the Happy Valley Specific Plan area). (See Exhibit C.) Although the number of units on hillside properties would likely be reduced between 119 and 224 units due to the Initiative(see Table 1),those units will likely be built elsewhere in Pleasanton. Due to the housing cap,there are only a limited number of units remaining that can be developed in the City,and developers have expressed interest in building all of the units that are available under the cap. Furthermore, State law requires that units on property identified in the Housing Element as developable which do not receive development entitlements must be transferred elsewhere in the City! Therefore, units that cannot be developed in hillside areas under the Initiative will be built in other areas of the City, such as in the Hacienda Business Park, the Downtown, and/or other flat in-fill sites throughout the City. Although certain property owners would be impacted by this consequence of the Initiative, the City overall, from a land use perspective, will not be affected significantly.6 ' Regarding the Spotomo property,as currently designated in the Happy Valley Specific Plan,the Spotomo Upper Valley would be impacted by the Initiative. If,however,Grcenbriar Homes'proposed General Plan amendment and Specific Plan modification(as to the Spotomo property)are approved, development would be transferred to the Spotortto Flat,which is land generally having less than 25% slopes;the question of the application of the Initiative to the Bypass Road is discussed in Sections 4.2 and 5.7,below. ' See Government Code 465863. 6 See Section 4.5 for a discussion about traffic impacts,and Section 7 for fiscal impact'. 5