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HomeMy WebLinkAbout1999-05-13; Housing Commission; Resolution 99-003r c 1 2 3 4 5 6 7 a 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 20 .P 1 HOUSING COMMISSION RESOLUTION NO. 99-003 A RESOLUTION OF THE HOUSING COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA, RECOMMENDING APPROVAL TO THE CITY COUNCIL OF $1,350,000 IN FINANCIAL ASSISTANCE FROM EITHER THE REALLOCATION OF FUNDS FROM THE CARLSBAD HOMEBUYER ASSISTANCE PROGRAM OR FROM THE HOUSING TRUST FUND FOR THE CONSTRUCTION OF BEDROOM ATTACHED CONDOMINIUM UNITS IN ORDER TO HELP SATISFY THE REQUIREMENTS OF THE INCLUSIONARY HOUSING ORDINANCE FOR PHASE TWO OF THE RANCHO CARRILLO MASTER PLAN. APPLICANT: CONTINENTAL HOMES, INC. NINETY, FOR-SALE, AFFORDABLE TWO AND THREE CASE NO: CT 98-15KP 98-08/SDP 98-17 WHEREAS, Continental Homes is the developer of the Rancho Carrillo Master Plan; and WHEREAS, Continental Homes intends to construct a total of 1,711 residential housing units within the Rancho Carrillo Master Plan; and WHEREAS, pursuant to the City of Carlsbad’s Inclusionary Housing Ordinance, Chapter 21.85 )f the Carlsbad Municipal Code, fifteen percent of all residential development within the Rancho Zarrillo Master Plan is required to be affordable to low income households; and WHEREAS, the City Council has previously approved two affordable housing projects totaling I66 residential units which allows for the total development of 1 , 158 residential units for the Phase 1 levelopment of the Rancho Carrillo Master Plan; and WHEREAS, the developer is proposing to construct 124 two and three bedroom, for-sale, tttached condominium units, of which 90 will be restricted for sale to low income households as a neans to satisfy the remaining affordable housing obligations for the Phase 2 development of the cancho Carrillo Master Plan as permitted by Carlsbad Municipal Code Section 21.85 of the City’s nclusionary Housing Ordinance; and WHEREAS, on May 13, 1999, the Housing Commission held a public meeting to consider the leveloper’s request for financial assistance to construct said affordable housing units; and WHEREAS, at said public meeting, upon hearing and considering all testimony, if any, of all iersons desiring to be heard, said Commission considered all factors relating to the request for financial issistance; t 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 20 .? r NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing Commission of the City of Clarlsbad, California. as follows: 1. 2. 3. 4. ... ... ... ... ... ... ... ... ... ... The above recitations are true and correct. The project is consistent with the goals and objectives of the City of Carlsbad's Housing Element, the Consolidated Plan, the Inclusionary Housing Ordinance, and the Carlsbad General Plan. The project will provide a total of 90, for-sale, two and three bedroom attached condominium units affordable for purchase to households at 80% or below of the county median income which meets a "medium priority" affordable housing need as outlined within the City of Carlsbad's approved 1995-2000 Consolidated Plan. The project, therefore, has the ability to effectively serve the City's housing needs and priorities as expressed in the Housing Element and the Consolidated Plan. That based on the information provided within the Housing Commission Staff Report and testimony presented during the public meeting of the Housing Commission on May 13, 1999, the Housing Commission hereby ADOPTS Resolution No. 99-003, recommending APPROVAL, to the City Council to provide $1,350,000 in financial assistance to Continental Homes, Inc., for the construction of 90, for sale, affordable two and three bedroom attached condominium units to satisfy the requirements of the Inclusionary Housing Ordinance for the development of Phase 2 of the Rancho Carrillo Master Plan. Staff shall work with the Bank of America to reallocate bds from the City's Carlsbad Homebuyer Assistance Program. Should an agreement not be reached, funding for the project shall be provided from the City of Carlsbad's Housing Trust Fund. HC RESO. NO. 99-003 PAGE 2 1 2 3 4 5 6 7 8 9 10 11 12 13 I4 15 16 17 18 19 20 21 22 23 24 25 26 27 28 5. That the Housing Commission rewmends that the City Manager or his designee be authorized to execute all documents related to provision of the City assistance, including but not limited to a Developer Loan Agreement, Promissory Note, Deed of Trust in substantially the form presented to the Housing Commission on May 13, 1999, and subject to review and approval by the City Attorney. PASSED, APPROVED, AND ADOPTED at a regular meeting of the Housing Commission of he City of Carlsbad, California, held on the 13th day of May, 1999, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: chauperson Latas, Commissioners: Scarpelli, Rose and McNeill. None. None. None. & IEBORAH K. FOUNTAIN IOUSING AND REDEVELOPMENT DIRECTOR ic RESO. No. 99-003 'ACE 3 ROY LATP$(CCHAIRPERSON CARLSBAD HOUSING COMMISSION