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Commissioner Ritter inquired, from a developer's standpoint, when they pencil out these <br />properties in Pleasanton, if it pencils out where they can afford to build residential or <br />commercial or if it just depends on the location. <br />Mr. Dolan replied that it depends on the particular point in time because something that <br />really has been brought to his attention lately is just as the economy has boomed, <br />construction costs have already started to take off and things that look like they would <br />work two years ago are probably not going to work now. <br />Chair O'Connor noted that CM Capital had its first round, and asked what the request is <br />for this round and if there is a request for a change in zoning. <br />Mr. Dolan replied that the developers have expressed that they would like to keep the <br />zoning that was given to them, and they have submitted letters to that effect. <br />Chair O'Connor inquired if it is mixed use, at 30 units to the acre. <br />Mr. Dolan replied that it is not CM Capital; the property that has been sold to a different <br />group that now owns the property. <br />Commissioner Allen inquired, if the CM Capital property is down - zoned, if there is <br />anything that would preclude it from being up -zoned if it were ever needed in the future <br />such as in 2023 for the next RHNA cycle. <br />Mr. Dolan said no, there would be nothing that would prevent the City from doing that. <br />Chair O'Connor added that especially if it were a new RHNA cycle. <br />Mr. Dolan said that would be a logical time to reconsider it. <br />Commissioner Allen stated that she would like to ask a question brought up by former <br />Commissioner Jennifer Pearce at the last meeting on this subject regarding whether the <br />City has ever down -zoned a property before, contrary to an owner's request. <br />Mr. Dolan replied that in the six years he has been with the City, that has not been <br />done. He stated that he has heard people say that the City has not done it for quite <br />some time before that but that he has no idea and really no way to check it. <br />Chair O'Connor inquired when the zoning was changed to 30 units to an acre <br />Mr. Dolan replied that it was done as part of the Housing Element update when all of the <br />sites were rezoned in 2012. <br />Chair O'Connor commented that the property has only been up -zoned for two years so <br />if the City wanted to change it, this would be the time to do it and not 10 years from <br />now. <br />PLANNING COMMISSION MINUTES, June 25, 2014 Page 16 of 29 <br />