CCMIN110403 - Laserfiche WebLink

crisis point. He urged Council to support the formulation of a task force to explore future redevelopment options. It was moved by Mr. Brozosky, seconded by Ms. Hosterman, to adopt Resolution 03-115 authorizing the issuance, sale and delivery of City of Pleasanton variable rate demand mulfifamlly housing revenue bonds (gusch Garden Apartments Project) 2003 Series A in the maximum principal amount of $13,~40,000 and the execution and delivery of related documents including a trust indenture, a f'mancing agreement, a regulatory agreement, an official statement, a bond purchase agreement, and an assignment and inter creditor agreement. The roU call vote was t~ken as foUows: AYES: Councilmembers - Ayala, Brozosky, Campbell, Hosterman, and Mayor Plco NOES: None ABSENT: None ABSTAIN: None Ms. Ayala wanted to take advantage of the change that Ponderosa had asked Council to make. She believed the developer had been accommodated twice, and she was uncomfortable with the transfer of credits for rental units to for-sale housing units. She believed the credits should be transferred the same across the board. She did not believe this matter was brought to the Planning and Housing Commissions for discussion. She restated her interest in reviewing the Inclusionary Zoning Ordinance and in affordable for-sale housing. .Mr. Campbell indicated his interest in reviewing the Inclusionary Zoning Ord'mance. Ms. Ayala believed Council had good intentions when it created the Inclusionary Zoning Ordinance, but believed it has taken a different approach. She saw no reason to move forward on this matter this evening, and believed Council needed to move slowly and carefully. She pointed out that this was the first Mr. Sweeney had heard about the secondary position for the City on the 23-acre site. Because Ponderosa was asking the City for a consideration, she believed it was an opportune time for the City to ask Ponderosa for a consideration. She was concerned about the changes that have occurred since the development of the Busch property was approved. At that time, the developer was cooperative and helped the City reach an agreement with the School District relative to school impact fee agreements and the building of Neal School. Everyone was working together to come to a conclusion and she felt comfortable that almost 200 housing units were going to have a school to house those students. Today, the situation has changed. Ponderosa's position changed and the City responded to it by allowing tax credits and providing Ponderosa the opportunity to address the City with respect to the bond issues. She pointed out that the City's position has also changed. There would not be a nearby school for the almost 200 houses to be built. She strongly believed this situation needed to be discussed in the community and stated that she wanted to hold back on approving Pleasanton City Council 15 11/4/03 Minutes