HomeMy WebLinkAboutCT 98-14; Thompson/Tabata; Tentative Map (CT) (93)Henthorn & Associat
5375 Avenida Enemas, Suite D
Carlsbad, California 92008
(760) 438-4090
Fax (760) 438-0981
January 11,2000
Mr. Craig Ruiz
City of Carlsbad
Housing and Redevelopment
2965 Roosevelt Street, Suite B
Carlsbad, California 92008
Subject: Thompson - Affordable Housing
Dear Craig:
Standard Pacific is proposing to meet the affordable housing obligation on the Thompson - Poinsettia site
through a combination of constructing for-sale town-home product (15), second dwelling units (15) and the
purchase of Villa Loma Credits (8.7 to 10.95).
This approach will result in over 73% of the project's requirement being constructed on site and integrated
into the project.
In addition to the developer's contribution of the improved site, the proposal will require a contribution of
$400,415 from the City in order to close the cost/revenue gap associated with the 15 town-home units.
The 15-second dwelling units proposed would not require subsidy.
The applicant is proposing to meet the project's obligation exceeding 30 units through the purchase of
credits within Villa Loma. This obligation varies between 8.7 and 10.95 credits dependent upon how the
total obligation is calculated. The developer's formal proposal will incorporate a request that the City grant
the Villa Loma credits as a part of the gap financing, thereby reducing the hard dollar-funding requirement
to approximately $100,000.
A full formal submittal will be delivered to your offices following receipt of the housing group's response
to this preliminary submittal.
I have enclosed the comparative pro forma and two prints of the site plan that was submitted to the
planning department.
If you have any questions or need additional information, please contact me at your convenience.
Iry truly yours,
E. Henthon
JEH:wpc
Ends: Site plans (2)
Pro forma (1)
cc: Gregg Linhoff, Standard Pacific.
City of 6arlsbad
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Housing & Redevelopment Department • 2965 Roosevelt Street, Suite B • Carlsbad, California 92008