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regional job center and she did not believe that Pleasanton should be required to provide all the housing. The alternative to Measure I is 1,900 housing units in a concentrated area which will only add to traffic trying to get onto 1-680. She did not want to say to herself a year from now that she wished she had agreed to pay $200 a year to get out of this traffic. She acknowledged that the City would buildout to 29,000 units and she wanted to make sure we did not squander the opportunity to plan for the future and leave a legacy for the children. She felt a majority vote was sufficient for approval of public uses on the land. She was not concerned that it may take a long time to build all the public amenities proposed for the land. There were no other speakers. Mayor Tarver referred to comments about thejobs/housing balance. He believed that the same people who said the Hacienda Business Park was necessary to provide all the jobs so that Pleasanton could be a regional job market and not obligated to provide housing for all the employees are now the ones leading the campaign to say there is a jobs/housing irabalance. The people who live here commute somewhere else and nonresidents commute to here for the jobs and the traffic is doubled. The only way to help the problem is to make a requirement that whoever builds a house must provide a job in the community for the person who buys it. Mr. Pico indicated he was in agreement with the proposed Term Sheet and felt it was the best deal possible under the circumstances. No one party got everything desired, but it is a reasonable, fair deal. Regarding the Task Force recommendations, he supported the recommendation on the use of the money. To discuss using the proceeds on adjacent sites clouds the issue and he believed that if the infrastructure were really needed, the City could find the money in the future. With respect to staffs analysis of Measure I, he reiterated the figures that have been mentioned this evening and said he had figured out what he would have to pay. Using an average of $30 per hundred thousand dollars of assessed valuation on an estimated daily average tax, it is 8.2 cents per day and if you assume about a 33% tax rate for federal and state, the effective cost per day per hundred thousand dollars of assessed valuation is about 5.5 cents per day. He reviewed his property tax bill and for his house it will cost 11 cents per day to be able to help the City of Pleasanton purchase the Bernal Avenue property and to keep it open space. He said if a house was assessed at $450,000, it would cost 25 cents a day in additional property taxes to get that 430 acres of land. If there is a $600,000 house, it will cost the price of a postage stamp, 33 cents. If there are more people living in the house, it cuts the daily cost even further. There is very little one could purchase for eleven cents. He said there is no free ride, free lunch, or free development. If the City of Pleasanton does not purchase this property, there is a good chance the San Francisco development plan will be on the ballot in November and if it is passed there will be 1,900 homes there instead of 374 homes, an additional 15,000 trips a day on Bemal Avenue and Sunol Boulevard, and there is a price to that. People trying to get to the freeway to jobs outside the city will spend significantly more time sitting at traffic lights. There is a price to that and he believed it would be a lot more than the cost of a postage stamp. He believed most of the people in Pleasanton will want to pay eleven cents a day for this Pleasanton City Council 14 02/15/00 Minutes