HomeMy WebLinkAbout1999-07-13; City Council; Resolution 99-2541
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0 RESOLUTION NO. 9 9 a4
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING A REQUEST TO
PROVIDE A FINANCIAL ASSISTANCE COMMITMENT OF
UP TO A MAXIMUM OF $462,755 FROM THE CITY'S
HOUSING TRUST FUND FOR THE CONSTRUCTION OF
ORDER TO SATISFY THE REQUIREMENTS OF THE
INCLUSIONARY HOUSING ORDINANCE FOR THE
MARIANO HOUSING DEVELOPMENT
APPLICANT: PACIFIC VISTA LAS FLOES.
CASE NO: SDP 97-16 - MARIAN0 DEVELOPMENT
TWENTY-SEVEN AFFORDABLE APARTMENT UNITS IN
WHEREAS, Standard Pacific Homes proposes to construct a total of 146 single family a.
multi-family units in a development commonly known as the Mariano Project; and
WHEREAS, to meet the requirements of the City's Inclusionary Housing Ordinance, Cl
21.85 of the Carlsbad Municipal Code for the development of the 146 market rate single family hc
Standard Pacific Homes proposes to construct a total of 27 housing units affordable to low in
households; and,
WHEREAS, Pacific Vista Las Flores, an affordable housing development partnership
entered into an agreement with Standard Pacific Homes to construct, own and operate a 28 unit apar
project, of which 27 shall be affordable to lower income households, as a means of satisfym
Inclusionary Housing Ordinance requirements for the Mariano Project; and,
WHEREAS, Pacific Vista Las Flores has submitted a request for the City to apprc
commitment to provide financial assistance for the development of the subject 27 lower in
affordable apartment units; and,
WHEREAS, the Housing Commission did, on the 10" day of June, 1999, hold a public me
to consider said request for financial assistance; and,
WHEREAS, upon hearing and considering all testimony, if any, of all persons desiring '
heard, said Housing Commission recommended approval to the City Council of a commitment to prc
financial assistance to the subject project and developer with conditions; and,
WHEREAS, the City Council did, on the 13th day of July, 1999, hold a public meek
consider said request for a commitment to provide financial assistance in the maximum amount of
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$462,755 to the subject project and developer with conditions; and,
WHEREAS, upon hearing and considering all testimony, if any, of all persons desiring
heard, said Council considered all factors relating to the request for a commitment to provide fin;
assistance to the subject project and developer with conditions.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of
Carlsbad, California, as follows:
1. The above recitations are true and correct.
2. The request for City financial assistance for the Mariano Apartment Project is cons
with the goals and objectives of the City of Carlsbad’s Housing Element, Consoli
Plan, the Inclusionary Housing Ordinance, and the Carlsbad General Plan.
3. The request for City financial assistance will assist the affordable housing develor
~ construct a total of 27, two and three bedroom lower income affordable apartment
The project, therefore, has the ability to effectively serve the City’s housing need
priorities as expressed in the Housing Element and the Consolidated Plan.
4. That based on the information provided within the City Council and HOI
Commission Staff Reports, the testimony presented during the public meeting of the
Council and Housing Commission, if any, and the Conditions of Approval conk
herein, the Council hereby APPROVES a financial assistance commitment of up
maximum of $462,755 from the City of Carlsbad’s Housing Trust Fund to Pacific ‘
Las Flores, with the conditions noted herein, for the construction of twenty-seven
lower income affordable apartment units to satisfy the requirements of the Inclusic
Housing Ordinance for the Mariano Housing Development Project.
GENERAL CONDITIONS:
1. The Developer shall make a good faith effort to pursue and receive an Affordable Housing Prc
(AHP) loan from the Federal Home Loan Bank. The City’s financial assistance will be rescind’
the developer does not make a good faith effort to obtain the AHP loan, The receipt of such ,
funds shall reduce the amount of the City’s financial assistance in an equal amount.
2. The Developer shall make a good faith effort to pursue and receive a refund of school fees fron
California Department of Housing and Community Development as provided for in Proposition
If it is adequately demonstrated to the City that the refund would have a negative impact or
financing of the project, the City shall not require the applicant to receive such funding. The re1
of any such funds, however, shall reduce the amount of the City’s financial assistance in an e
amount.
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CC Resolution No. 99-254
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3. If the Developer receives additional tax credits or additional tax credit equity over and abov
which is noted in the project’s proforma, attached hereto for reference purposes, the amount
City’s financial assistance shall be reduced by an equal amount.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the
Council of the City of Carlsbad, California, held on the 13* day of July, 1999, by the folk
vote, to wit:
AYES: Council Members Lewis, Hall, Finnila, Nygaard and Kul
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
(SEAL)
CC Resolution No. 9 9-25 4
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