SR 06:052 - Laserfiche WebLink

With respect to sale of the credits, Mr. Sweeney noted that they had a $2.5 million investment in the credits. However, if the Planning Commission or City Council objected to the sale of the credits, they would be willing to give it up. He noted that they had 90 days to use the state money. He noted that they had the maximum green building criteria in the design, and that they provided every senior service possible. He added that they reached the maximum affordability rating of 3 5 points. He noted that the loan rates were higher than a conunercial bank, but that it enabled them to receive the affordable housing credits. Patricia Belding, 7703 Highland Oaks Drive, Chairperson, Citizens for a Caring Conununity, noted that they had supported Ponderosa's senior development. She supported the increased number of affordable units, including those for very low income residents. She suggested that the Commission approve the transfer alone, because it was the continuation of the same project, which she believed was an excellent development. She would like to limit policies which would make it difficult to meet the June, 2004, Housing Element goal, which planned 25% of the remaining building permits to go to low income units. She believed that the Commission may want to consider density reduction at the mid-point or lower for the development of the adjacent property or other property. She would not like to see as many larger homes built, because they do not take up as many housing unit credits; that would leave more units for the needed low-income units. ' She noted that transfer credits may be granted to occur when the Housing Element goals had occurred. She supported Ponderosa's use of the affordable housing credits, and believed the development was an outstanding addition to Pleasanton. THE PUBLIC HEARING WAS CLOSED. In response to an inquiry by Commissioner Sullivan, Mr. Bocian replied that there were five midpoint density units per acre, for a total of 100 units. Chairperson Arkin strongly supported the project, and the use of the credits in other parts of the conununity. He noted that he was a very strong advocate of affordable senior housing, and added that he would have a problem with high density non-senior housing. Commissioner Roberts noted that she supported this project, and believed that clustered senior residences was a positive idea. She liked the applicant's use of affordable housing credits, and believed that the City Council should be allowed to make this decision. She noted that Ms. Belding's suggestions may be heard by City Council when the credits were to be transferred. She believed that there would be a problem with the transfer of money, but believed that City Council should be given the flexibility to decide what should be done with the credits. She noted that it would be too expensive to build affordable housing in the hills, and that the grading requirements would not be feasible for that use. PLANNING COMMISSION MINUTES July 9,2003 EXCERPTS