HomeMy WebLinkAbout2005-12-20; Housing & Redevelopment Commission; Resolution 4051
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HOUSING AND REDEVELOPMENT COMMISSION RESOLUTION NO. 405
A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMISSION OF THE
CITY OF CARLSBAD, CALIFORNIA, TO SET THE HOUSING CREDIT PURCHASE
PRICE FOR THE ROOSEVELT STREET AFFORDABLE CONDOMINIUM
COMBINED PROJECT UNDER THE CITY OF CARLSBAD’S INCLUSIONARY
HOUSING ORDINANCE.
WHEREAS, in 1993, the City of Carlsbad adopted an Inclusionary Housing Ordinance,
Chapter 2 1.85 of the Carlsbad Municipal Code, which requires all housing developers to provide
at least 15% of the housing units they construct to be affordable to lower income households; and,
WHEREAS, pursuant to Chapter 21.85.080 of the Carlsbad Municipal Code, the City
Council has sole discretion to authorize a residential site to be designated as a combined
inclusionary housing project; and,
WHEREAS, the City Council also has sole discretion as to which housing developments
may satisfy their inclusionary housing obligations by financially participating in an off-site
combined project; and
WHEREAS, the Carlsbad Redevelopment Agency has partnered with Habitat for
Humanity to construct a total of eleven (1 1) for-sale condominium units affordable to very low
income households on property owned by the Agency and located at 2578 Roosevelt Street within
the Village Redevelopment Project Area and the Northwest Quadrant of the City of Carlsbad; and
WHEREAS, said units are excess units in that they will not be provided to meet the
inclusionary requirement of a specific master housing development under the City’s Inclusionary
Housing ordinance, but may be used to do so if approved by the City Council; and
WHEREAS, the Carlsbad Redevelopment Agency expressed a desire to sell the excess
housing credits produced by said project, Roosevelt Street Condominiums, at 2578 Roosevelt
Street to housing developers with a small inclusionary housing requirement for a housing
development located within the Northwest Quadrant of the City; and
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WHERAS, the Carlsbad Redevelopment Agency received approval from the Carlsbad
City Council to designate the Roosevelt Street Condominiums at 2578 Roosevelt Street as a
combined housing project to assist small housing developers with projects located in the
Northwest Quadrant in their effort to satisfy their inclusionary housing requirements pursuant to
Chapter 21.85 of the Carlsbad Municipal Code; and
WHEREAS, the Carlsbad Redevelopment Agency is required to set the housing credit
purchase price for the Roosevelt Street Condominiums combined project.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing and
Redevelopment Commission of the City of Carlsbad, California, as follows:
1. The above recitations are true and correct.
2. The Housing and Redevelopment Commission hereby accepts the designation of
the eleven (1 1) unit Roosevelt Street Affordable Condominium development to be
constructed on Carlsbad Redevelopment Agency owned property located at 2578
Roosevelt Street as a combined housing project pursuant to Carlsbad Municipal
Code 21.85.080.
3. The Housing and Redevelopment Commission hereby acknowledges that the City
Council has the authority to decide which private housing developments within
the Northwest Quadrant will be permitted to satisfy their inclusionary housing
obligations by financially participating in an off-site combined housing project
such as the Roosevelt Street Condominiums.
4. The Housing and Redevelopment Commission hereby sets the Housing Credit
Purchase Price for the Roosevelt Street Affordable Condominiums at the full
subsidy cost of $120,000 per univcreidt. This price was determined by calculating
the total per unit subsidy provided by both the Carlsbad Redevelopment Agency
and the City of Carlsbad, including the cost of acquiring the property and
providing pre-development fimding to the developer. This fee shall be subject to
increase on an annual basis to add interest, as approved by the Housing and
Redevelopment Commission.
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5. The Housing Credit Purchase Price is not a development impact fee. Therefore, it
is not subject to the requirements of California Government Code Sections 66001
and/or 66006.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Housing and
Redevelopment Commission of the City of Carlsbad, California, held on the 20 t h day
of December ,2005, by the following vote, to wit:
AYES: Commission Members Lewis, Hall, Packard, Sigafoose
NOES: None
ABSENT: Commission Member Kulch
ABSTAIN: None
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