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Affordable Housing Agreement Due to the nature of the proposed development, it was considered to be impractical and an inefficient use of resources to require affordable housing units to be constructed within the project. The proposed Affordable Housing Agreement requires the developer to pay the City's Lower-Income Housing Fee in the amount of $11, 228.00 for each housing unit included in the project. If all 50 units are approved, this payment would generate $561,400 for the Lower-Income Housing Fund. The developer would also be required to pay an additional in lieu-affordable housing payment of $23,101 for each unit, to be used by the City at its discretion. If all 50 units were approved, this payment would generate an additional $1,155,050. The two fees combined total $34,329 per unit approved, which equals the amount supported by the Nexus Based Affordable Housing Fee Analysis prepared for the City by Economic Planning Systems in 2013. On May 21, 2015, the Housing Commission voted 3-0 to recommend approval of this Agreement to the City Council. KEY PROJECT ISSUES Measure PP Questions Measures PP and QQ In November 2008, Pleasanton voters passed Measure PP and Measure QQ. The introduction to Measure PP states: "The purpose of this Initiative is to protect our city from uncontrolled growth and the impact it has on ridgelines and hillsides, traffic, schools, water supply, and our overall quality of life." Measure PP states in part that: "No grading to construct residential or commercial structures shall occur on hillside slopes 25 percent or greater, or within 100 vertical feet of a ridgeline." Measure QQ reaffirmed the policies of Measure PP with policies involving the re-adoption of the policies and programs of the 1996 Pleasanton General Plan to: (1) preserve hillside and ridge views of the Pleasanton, Main, and Southeast Hills; (2) study the feasibility of preserving large open-space areas in the Southeast Hills; and, (3) protect large contiguous areas of open space. Applying Measure PP to the Lund Ranch II Development The interpretation and application of Measure PP to the Lund Ranch II development requires interpretation by the City of Pleasanton, since Measure PP lacks definitions of key terms used in the preparation and review of hillside developments and is subject to a variety of possible interpretations. Page 8 of 26