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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 83-394 <br /> <br />RESOLUTION APPROVING LOW INCOME EXEMPTION FOR <br />SHELTER CAPITAL PROJECT <br /> <br />~PHEREAS, <br /> <br />the City staff has received a request from Shelter <br />Capital for a low income housing exemption from <br />the Growth Management Program; and <br /> <br />WHEREAS, <br /> <br />Mr. Simmons of Shelter Capital also requested that <br />the low income units be so restricted for only ten <br />years rather than the 25 year period sDecified in <br />Section l(a)(iii) of the Growth Management Procedures <br />and Guidelines; and <br /> <br />WHEREAS, <br /> <br />the City Attorney presented his report (SR 83:374) <br />regarding the request from Shelter Capital which <br />analyzed the possible amendment to the Growth <br />Management Program and made several recommendations; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section <br /> <br />1: Section l(a)(iii) of the Growth Management <br /> Procedures and Guidelines is amended to reduce the <br /> time limit restriction on low income units from 25 <br /> years to 15 years. <br /> <br />Section 2: Approves the proposed low income exemption <br /> requested for the Shelter Capital project. <br /> <br />Section 3: Authorizes the City Attorney to draft a contract <br /> to run with the land on the Shelter Capital project <br /> to insure that the low income restrictions are <br /> effectively implemented and the Mayor is authorized <br /> to execute such an agreement. <br /> <br />Section 4: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />THIS RESOLUTION ADOPTED SEPTEMBER 13, 1983 BY THE FOLLOWING <br />VOTE: <br /> <br /> <br />