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NOES: None ABSENT: None Mayor Mercer thanked the Steering Committee and Mr. Elliott, Director of Public Works, for their efforts in bringing this matter to fruition. PUD-87-4, Application of John Ferreri and Duncan Matteson for development plan approval for a 264-unit residential condominium complex to be located on an approximately 23 acre site located on the north side of Old Dublin Canyon Road, approximately 4,800 feet west of the intersection of Foothill Road and Old Dublin Canyon Road. Zoning for the property is PUD (Planned Unit Develop- ment)-High Density Residential District Consider Adoption of Negative Declaration Mr. Swift presented his report (SR 87:167) dated April 21, 1987, regarding this matter. Mayor Mercer declared the public hearing open on the application and the negative declaration. Mr. John Ferreri, 6330 Laura Lane, partner of the project, reviewed the projects already development by himself and Mr. Matteson. He stated there is a need for available rental units. He presented renderings of the design of the development. He reviewed the recreational areas, density, projected sales prices and layout of the units. He stated that timing is critical in order to keep the costs as low as possible. He stated that with regard to traffic, formation of the freeway improvement district tonight, and other street im- provements will alleviate traffic at this location. Overall, this project will have a comparatively minor impact at the Foothill Road/Dublin Canyon Road intersection. He stated the project is a quality development and there is need for this type housing in Pleasanton. Mr. Duncan Matteson, partner of the project, stated that with regard to financing, there is need to proceed as soon as possible; interest rates are going up. He stated they would like to start construction within 120 days so that loans will be available for buyers within eighteen months. He stated they still have to negotiate for sewer permits, and for other additional en- gineering matters. He added that any delays would be critical for everyone. Mr. Ron Schneider, 650 Orofino Court, stated he is concerned about the project being listed under the guise of affordable housing; the first phase being affordable housing and the price of the next units being raised. He asked Council to consider some stipulation that the prices would stay the same on all phases of the development. Mr. Lewis, Dublin Canyon Road, stated he is concerned about traffic on Old Dublin Canyon Road. He asked the City to patrol this area. Mayor Mercer ad- vised him that this portion of the road is not within the City Limits; when it is the Pleasanton Police Department will patrol this street. There being no further testimony, Mayor Mercer declared the public hearing closed on the application and the negative declaration. 1B - 4-21-87