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162 <br /> <br /> The roll call vote was as follows: <br /> AYES: Councilmembers Mohr, Tarver and Mayor Mercer <br /> NOES: None <br /> ABSENT: Councilmembers Butler and Scribner <br /> ABSTAIN: None <br /> <br /> 5. MEETING OPEN TO THE PUBLIC <br /> There was no testimony. <br /> <br /> 6. PUBLIC HEARINGS <br /> <br /> Item 6a <br /> Review of Rate Adjustment for Refuse Collection (SR92:320) <br /> <br /> This item was continued to the 8/18/92 City Council meeting. <br /> <br /> Item 6b <br /> GP-92-3, City of Pleasanton <br /> Application for an amendment to the Housinq Element of the General <br /> Plan to achieve compliance with California Government Code Section <br /> 65583 (a)(8). This provision requires all cities and counties to <br /> conduct an analysis and undertake General Plan proqrams for <br /> preserv~nq existinq assisted rental housinq development that are <br /> eliqible to chanqe to non-low-income durinq the next ten years due <br /> to the termination of subsidy contract, mortqaqe pre-paTment or <br /> expiration of use restrictions. (SR92:237) <br /> <br /> Also consider adoption of a Negative Declaration. <br /> <br /> Mr. Mercer declared the public hearing open on the <br /> application. <br /> <br /> Robert Cordtz, 262 West Angela, complimented the staff <br /> for establishing creative ways to finance affordable housing. <br /> <br /> There being no further testimony, Mr. Mercer declared the <br /> public hearing closed. <br /> <br /> Ms. Mohr stated that the City was accumulating funds in the <br /> low income housing fund. She asked staff if there was a way of <br /> calculating how many units the City could buy down using the <br /> interest generated from that fund relative to the cost of having <br /> units built. <br /> Mr. Swift answered yes. He explained that it would take a <br /> very large account base, due to the interest rates that are <br /> currently available. <br /> <br /> s/4/92 4 <br /> <br /> <br />