HomeMy WebLinkAbout1996-10-01; City Council; Resolution 96-332t
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CITY COUNCIL RESOLUTION NO. 9 6 - 3 3 2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA7 APPROVING CITY FINANCIAL
ASSISTANCE TO AN AFFORDABLE HOUSING PROJECT
TOWNHOMES FOR LOW INCOME HOUSEHOLDS TO BE
LOCATED WITHIN THE SOUTHWEST QUADRANT OF
THE CITY.
CASE NAME: SAMBI SEASIDE HEIGHTS
WHICH WILL PROVIDE A TOTAL OF 42 FOR-SALE
CASE NO: AHP 94-3(A)/CT 92-02(A)/SDP 92-06(A)
WHEREAS, the City of Carlsbad has identified a need to provide hous
which is affordable to households of low-income in a variety of different forms; and
WHEREAS, a project, known as “Sambi Seaside Heights” has been propoi
for construction which will provide 42 for-sale townhomes on property generally located easl
Paseo del Norte, north of Camino de Las Ondas, and south of Palomar Airport Road which \
provide housing affordable to low income households; and
WHEREAS, the City of Carlsbad’s comprehensive financial analysis of
project concludes that City financial participation in the project is necessary, appropriate :
exceeded by the public benefit received by the City; and
WHEREAS, the affordability level afid the unit mix of the proposed project
consistent with the City of Carlsbad’s Housing Element objectives, Consolidated Plan, i
Incluslonary Housing Ordinance.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council
follows:
1. The foregoing recitations are true and correct.
2. The City Council of the City of Carlsbad hereby approves finan
assistance for the proposed affordable housing project known as “Sal
Seaside Heights” in the following form and as outlined in the How
Commission Staff Report dated, September 12, 1996.
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a. Use of Housing Trust Funds in an amount not to exceed $453,600
project construction and permanent financing, including on-:
and/or off-site public improvements directly related to the project.
b. City assistance will be structured, through approval of an Affordal
Housing Agreement, to provide for a reduction in the amount
assistance if the proceeds from the sale of the affordable UT
exceeds their actual cost, not including the land value.
3. The development team for the subject affordable housing project shall en
into appropriate agreements with the City of Carlsbad which outline
terms of City participation and the conditions to be met prior to commitm
of City assistance as contained with the Staff Report to the Hous
Commission dated, September 12, 1996.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the C
Council of the City of Carlsbad, California, held on the 1st day of October ,
1996 by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Kulchin, Hall and Finnj
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)
CCRESO# 9%-332-
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