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at this point for construction. He noted that federal money comes in easier if there is local money and a project is identified as needing to be completed. Commissioner Nagler said given that gap, he asked when the final $60 million can be secured to stay on the proposed timeline. Mr. Tassano said up until the point when they advertise. In order to award, the City must have a funding plan in place. Commissioner Brown asked if Mr. Tassano had enough confidence to put it in either the cumulative or near term traffic projections. Mr. Tassano said no because while he is confident, he wants to show the Commission what happens if the City does not fully support State Route 84. He would rather show the worst case scenario and then construct it and show it is better. Commissioner Brown asked which intersections would benefit from State Route 84 improvements. Mr. Tassano said the entire First Street/Sunol corridor by a 20 percent to 25 percent reduction in both peak hour volumes and he briefly discussed traffic patterns of people either leaving to go out of Pleasanton or people going into Livermore to work. Chair Ritter called upon the applicant to make a presentation. THE PUBLIC HEARING WAS OPENED. Mike Serpa of Century Development Group stated that he and his partner Jeff Lee own Irby Ranch, LLC and he credited staff, consultants, agencies and their partner Sunflower Hill for working on and endorsing the project. If they proposed a commercial development there would be 1,000 to 4,000 more trips per day and if they developed apartments, the site could accommodate 300 to 400 apartments, and the minimum would be 800 more trips per day. Mr. Serpa displayed a PowerPoint presentation, stating the City benefits through extension of Nevada Street which has been in the City's plans for 50 years. Since 1991 the City has pursued the sewer and water line through the area and what is on the site is a plan of over 4 years in the making, and he reiterated that while the development will not provide actual units towards RHNA, it does provide credit towards the City's overall regional housing goals. After the Planning Commission workshop, Mr. Serpa said they returned to their plan and dispersed parking for a total of 274 parking spaces which is a lot for this type of community. They think the plan is creative, offers many benefits, and they were able to add almost 3 acres of open space since the Planning Commission workshop which they will maintain and which connects to each community. Regarding historic recreation, they are debating which house to move and they know it is important to the community. PLANNING COMMISSION MINUTES, August 10, 2016 Page 8 of 33