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CITY COUNCIL OF TtIE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 81-265 <br /> <br />RESOLUTION APPROVING RAP EXEMPTION FOR VINTAGE <br />ASSOCIATES, LTD. <br /> <br />~HEREAS, <br /> <br />the Residential Allocation Program provides for <br />exemptions from the program for certain lower-income <br />projects; and <br /> <br />WHEREAS, Vintage Associates, Ltd. proposes a 108-unit townhouse <br /> project located on a 7.19 acre site; and <br /> <br />WHEREAS, <br /> <br />subdivisions meeting the criteria necessary for an <br />exemption must apply to the City Council for approval <br />of such exemption; and <br /> <br />WHEREAS, <br /> <br />the Vintage Associates, Ltd. project is classified <br />under the lower-income projects exemption and meets <br />or can meet the exemption criteria and general <br />requirements. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section l: Approves the exemption from the Residential Allocation <br /> Program for Vintage Associates, Ltd. for a 108-unit <br /> townhouse project located on a 7.19 acre site immediately <br /> behind the shopping center on Pico Avenue between Tawny <br /> and Palemine Drives, subject to the following conditions: <br /> <br />That 20% of the units will be available as rentals <br />for those of lower income (80% of the areawide median <br />family income or less) for a period of seven years. <br /> <br />That at least twelve (12) units will be available <br />for sale at a price not to exceed $69,950 to qualifying <br />buyers. <br /> <br />That Developer will comply with paragraphs B and <br />C of the attached letter to the City Council dated <br />August 6, 1981 signed by Doyle Heaton, General Partner <br />of Vintage Associates. <br /> <br />Section 2: This resolution shall become effective immediately <br /> upon its passage and adoption. <br /> <br />TttIS RESOLUTION ADOPTED AUGUST 11, 1981 BY THE FOLLOWING VOTE: <br /> <br /> <br />