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437 Application of Vintage Associates~ Ltd~~ for P. lanned Unit Development zoning and__ ~.evelopment plan appr.oval for a 108 unit townhouse project located on a 7.19 acre site immediately behind the shopping center on Pico Avenue between Tawny and Palo- mino Drives. The p~gper. ty i.s zoned PUD (Planned Unit Development-High DenSity._ Residential) District On the basis of an Initial Study. of the potential environmental impacts of the project, th~pirecto~ of. pl~n~in~ and Comrpuni.ty Development has determined that the p~r0posed p~Oject would not have any potential s~gnificant adverse effects on the environment and that an environmental impact report need not be prepare~. This Initial StudX is available for review at th.e ~lanning Division: ~00 Bernal~Av~nue, Pleasanton. Comments on this decision may be directed to either the PlanninS. staff prior to the above meetin~ dat. e.~ or dir~ctl7 to the ~.ity Council at the above noticed meetin~ RAP Exemp. tion Request for PUD-81-6~ Vintage Terrace'Condominiums Mr. Harris presented his reports (Sk 81:272) dated August 4, 1981, and (SR 81:277) dated August 6, 1981, regarding these two matters. Mayor Mercer declared the public hearing open on the application and the nega- tive declaration. Mr. Doyle Heaton, representing Vintage Associates, stated he concurs with the staff report with the exception of Condition 31 that states there shall be no con- struction on the subject property until Pico Avenue is connected to Stanley Boule- vard. He stated he would like to start the project immediately and did not want to be delayed by the completion of Pico Avenue extension. Mr. Heaton presented design and site Plans for the project. He stated this will be an affordable housing project with four bedroom units for under $100,000. He stated he will provide 20% of the units as rentals for those of lower income for a period of five years, and will provide at least 12 units of 2 bedroom units for sale at a price not to exceed $69,950.00 to first time entry level buyers. Mr. Heaton stated this will be a high quality development. He added that it will not attract a large number of children therefore will not impact the school system. Mr. Heaton requested Residential Allocation Program exemption for this project stating that it meets the requirement for low to moderate income housing. He also requested that certain City permit fees be postponed until the houses are finaled. Mr. Heaton stated he has been working with the Chamber of Commerce regarding SB-1355, a bond issue for lower interest rates for entry level buyers, and he urged Council to support and endorse this con- cept. Councilmember Mohr stated she felt the 20% of rental units should remain as rentals for a period of seven years instead of five years. After discussion, Mr. Heaton agreed to this. Mr. Stanley Rathbone, 325 Ray Street, stated he was opposed to this project because it will cause an increase in traffic. There being no further testimony, Mayor Mercer declared the public hearing closed on the application and the negative decla~ation. Council discussion ensued regarding the timing of construction of the Pico Avenue extension. Mr. Warnick advised that the Pico Avenue project has been in- cluded in the 1981-82 Capital Improvement Prograin but that the earliest completion date would be in approximately two years. 6. 8/11/81