RES 92207 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 92-207 RESOLUTION APPROVING GROWTH MANAGEMENT EXEMPTION FOR RED BEAR, INC. (PUD-91-10) WHEREAS, Red Bear, Inc. has requested a Growth Management Program exemption for a 20-unit apartment project aimed at providing affordable housing for lower-income seniors; and WHEREAS, the Director of Planning and Community Development presented his report (SR 92:434) regarding the request from Red Bear, Inc., which analyzed the request and made several recommendations. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Approves the application from Red Bear, Inc. (PUD-91-10) for a lower-income exemption for the 20-unit senior apartment complex, subject to the following conditions: That 17 units of the 20 units in the project be designated "lower income" units, and three units be designated "very low income" units in perpetuity; That rent and rent adjustments be set in accordance with the Oakland PMSA (Primary Metropolitan Statistical Area) Lower Income Exemption, allowing annual adjustments; That the developer and subsequent successors shall be responsible for yearly status reports on the administration of the lower income units within the project. Such reports will include information on occupancy and income of tenants; That the lower income exemption agreement shall run with the land; Be That the exemption shall lapse eighteen (18) months from the date of approval unless construction has commenced on any building in the project or an extension is issued by the City Council; and That the developer enter into an agreement with the City which implements these conditions and the intent of the low income exemption.