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EXHIBIT J-2 <br />ThE CITY OF <br />~~~~~~~ a <br />~`L~ ~S~h1T~I~~ <br />Housing Commission <br />Minutes -EXCERPT <br />City Council Chambers, 200 Old Bernal Ave., Pleasanton, CA <br />January 18, 2007 <br />7:00 p. m. <br />7. MATTERS CONTINUED FOR DISCUSSION <br />A. Recommendation Regarding Proposed Affordable Housing Plan for the Oak <br />Grove Project <br />Commissioner Harris recused himself from this item inasmuch as he has a working <br />relationship with the applicant. <br />Steven Bocian presented the staff report. The Lin family owns a 562-acre site east and <br />south of the existing Kottinger Ranch neighborhood at the eastern end of Hearst Drive in <br />southeast Pleasanton. They recently submitted an application for a new 51-unit custom <br />home development on the site. As part of the proposed development agreement, the <br />developer is requesting the City Council authorize the "transfer" of the 47 units that will <br />not be built on the Oak Grove site (98 units that are identified in the Housing Element for <br />this site minus the proposed 51 units) to a different site yet to be determined. Assuming <br />Council finds this transfer acceptable, it is proposed that, 20 of these 47 units would be <br />affordable. In the event the owner cannot develop the 47 units within ten years from <br />approval of the development agreement, the owner would pay the Lower Income <br />Housing Fee (LIRE) then in effect. The developer is requesting that this concept form <br />the basis of its affordable housing agreement with the City. <br />Mr. Bocian stated that, if the Council approves a development agreement allowing the <br />developer to transfer 47 of the 98 units identified in the General Plan for the Oak Grove <br />site to another site, 20 of the 47 units would be affordable as follows: 5 units at very low <br />income, 10 units at low income, and 5 units at moderate income. All of the units would <br />be affordable in perpetuity and consistent with the Inclusionary Zoning Ordinance related <br />to unit distribution and quality. No decision has been made at this time as to whether the <br />units would be ownership or rental. In the event building permits for the units have not <br />been obtained within ten years from the date of the development agreement, the <br />developer will pay the City's Lower Income Housing Fee for 51 units at the fee amount <br />then in effect and the opportunity to transfer the units will be expire. <br />Page - 1 - <br />