HomeMy WebLinkAbout1999-06-10; Housing Commission; Resolution 99-005!.
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HOUSING COMMISSION RESOLUTION NO. 99-005
THAT THE HOUSING COMMISSION RECOMMEND APPROVAL
TO THE CITY COUNCIL A COMMITMENT TO PROVIDE UP TO
$462,755 IN FINANCIAL ASSISTANCE WITH CONDITIONS FROM
THE CITY’S HOUSING TRUST FUND TO WAKELAND HOUSING
AND DEVELOPMENT CORPORATION FOR CONSTRUCTION OF
TO SATISFY THE REQUIREMENTS OF THE INCLUSIONARY
HOUSING ORDINANCE FOR THE MARIAN0 HOUSING
DEVELOPMENT.
APPLICANT: WAKELAND HOUSING & DEVELOPMENT
CASE NO: SDP 97-16
TWENTY-EIGHT AFFORDABLE APARTMENT UNITS IN ORDER
CORPORATION
WHEREAS, Standard Pacific Homes proposes to construct up to150 market rate single family
homes in a development commonly know as the Mariano Project; and
WHEREAS, the development of 150 market rate single family homes will require the
development of 27 housing units affordable to low income households as required by the City’s
Inclusionary Housing Ordinance, Chapter 21.85 of the Carlsbad Municipal Code, and;
WHEREAS, Wakeland Housing and Development Corporation has entered into an
agreement with Standard Pacific Homes to provide 28 apartment units, of which 27 shall be
affordable to lower income households as a means of satisfying the Inclusionary Housing
Ordinance requirements for the Mariano Project: and
WHEREAS, Wakeland Housing and Development Corporation has submitted a proposal
requesting the City provide financial assistance for the development of 27 apartment units affordable to
lower income households; and
WHEREAS, said Housing Commission did, on the 10* day of June, 1999, hold a public meeting
to consider said request for financial assistance; and
WHEREAS, upon hearing and considering all testimony, if any, of all persons desiring to be
heard, said Commission considered all factors relating to the request for financial assistance;
NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing Commission of the City of
Carlsbad, California, as follows:
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The above recitations are true and correct.
The request for City financial assistance for the Mariano Apartment Project is consistent
with the goals and objectives of the City of Carlsbad’s Housing Element, Consolidated
Plan, the Inclusionary Housing Ordinance, and the Carlsbad General Plan.
The request for City financial assistance will assist the affordable housing developer to
construct a total of 28, two and three bedroom affordable apartment units. 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 June
10, 1999, and subject to conditions listed below, the Housing Commission hereby
ADOPTS Resolution No. 99-005, recommending APPROVAL to the City Council to
commit to provide up $462,755 in financial assistance with conditions from the City of
Carlsbad’s Housing Trust Fund to Wakeland Housing and Development Corporation for
the construction of twenty-eight (28) affordable apartment units to help satisfy the
requirements of the Inclusionary Housing Ordinance for the Mariano Project.
GENERAL CONDITIONS:
1. The Developer shall make good faith effort to pursue and receive an Affordable Housing Project
(AHP) loan from the Federal Home Loan Bank. The City’s financial assistance would be rescinded
if the developer does poJ make a good faith effort to obtain the AHP loan. The receipt of such AHP
funds, however, shallreduce 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 from the
California Department of Housing and Community Development as provided for in Proposition 1A.
If it is adequately demonstrated to the City that the refund would have a negative impact on the
financing of the project, the City shall not require the applicant to receive such funding. The receipt
of any such funds, however, shall reduce the amount of the City’s financial assistance in an equal
amount.
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HC RESO. NO. 99-005
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3. If the developer receives additional tax credits or additional tax credit equity over and above
that stated with Exhibit 3 of the June 10, 1999, Housing Commission staff report, the amount of
the City's financial assistance shall be reduced by an equal amount.
PASSED, APPROVED, AND ADOPTED at a meeting of the Housing Commission of the City
3f Carlsbad, California, held on the 10* of June, 1999, by the following vote, to wit:
AYES: Chairperson Latas, Commissioners: Rose, Scarpelli and McNeill.
NOES: None.
ABSENT: None.
ABSTAIN: None.
CARLSl%D HOUSING COMMISSION
3OUSING AND REDEVELOPMENT DIRECTOR
IC RESO. NO. 99-005
'AGE 3