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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 93-26 <br /> <br /> RESOLUTION APPROVING AGREEMENT WITHPI~ASANTON <br /> ROTARY NORTH REGARDING LOWER INCOME UNITS <br /> <br />WHEREAS, at its meeting of February 16, 1993, the City Council <br /> reviewed the report of the Assistant City Manager <br /> (SR 93:66) regarding the proposed agreement concerning <br /> construction of lower income for sale units (PUD-92-8) to <br /> be located at the southeast corner of Palomino Drive and <br /> Concord Street; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: Approves the Purchase and Sale Agreement for the sale <br /> of the 0.56 acre City-owned parcel of land at Concord <br /> Street and Palomino Drive to the Pleasanton Rotary North <br /> for a sales price of $1.00, a draft of which agreement is <br /> attached hereto and incorporated herein by this <br /> reference, and the final form of which shall be approved <br /> by the City Attorney. <br /> <br />Section 2: Approves the attached Restrictive Covenant, Resale <br /> Restrictions and Option to Designate Eligible Purchasers, <br /> in a final form as approved by the City Attorney. <br /> <br />Section 3: Approves the Option to Purchase Agreement with <br /> Pleasanton Rotary North, a draft of which is attached <br /> hereto and incorporated herein by this reference, and the <br /> final form of which shall be approved by the City <br /> Attorney. <br /> <br />Section 4: Authorizes appropriation of $320,509 from the City's <br /> Lower Income Housing Fund to cover the following <br /> estimated expenses: Fee waivers $86,149; Contribution of <br /> land $210,000 (estimate); School Impact Fees $24,360. <br /> <br />Section 5: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br /> I HEREBY CERTIFY THAT THE FOREGOING WAS DULY AND <br />REGULARLY ADOPTED BY THE CITY COUNCIL OF THE CITY OF PLEASANTON, AT <br />A MEETING HELD ON FEBRUARY 16, 1993 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Pico, Scribner, and Mayor Tarver <br />NOES: None <br />ABSENT: Councilmember Mohr <br />ABSTAIN: None <br /> T: ~ <br /> eg~~;: fdro~ <br />APPROVED AS TO FORM: <br /> <br />Michael H. Roush, City Attorney <br /> <br /> <br />