HomeMy WebLinkAbout1996-10-01; City Council; 13842; Sambi Seaside Heights Affordable Housing9 B 8 %
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CITY OF CARLSBAD - AGtNDA BILL
4B# @@dz TITLE. COMMITMENT OF FINANCIAL ASSISTANCE TO
-. VITG. /O.-i r %? SAMBI SEASIDE HEIGHTS AFFORDABLE
HOUSING PROJECT
DEPT. H/RED
RECOMMENDED ACTION:
CITYAllY. @’
CITY MGR.
ADOPT Resolution 9b-332-4 as recommended by the Housing Commission, APPROVING a
commitment of financial assistance’ in an amount not to exceed $453,600 from the City of Carlsbad
Housing Trust Fund for the purpose of assisting in the construction of 42 for-sale housing units affordable
to lower-income households in the project known as Sambi Seaside Heights, based on the findings and
subject to the conditions contained therein.
ITEM EXPLANATION:
This Sambi Seaside Heights affordable housing project, proposed to satisfy the Sambi inclusionary
housing obligation, is an outgrowth of the overall redesign of the Sambi project. The original affordable
housing proposal recommended by the Housing Commission and Planning Commission and approved by
the City Council in March 1994 was a rental apartment project including 63 affordable units. Sambi’s
revised proposal is a for-sale townhome project of 42 two and three-bedroom units which would satisfy the
overall project’s revised inclusionary requirement.
On September 12,1996 the Housing Commission considered the new proposal and is recommending (7-1,
Noble) City Council approval of the project and a commitment of financial assistance in an amount not to
exceed $453,600. Commissioner Noble supported the project and the financial assistance but dissented
based on the addition of a specific condition to the recommending resolution. The condition concerned
the reimbursement of City assistance under certain circumstances. This feature was outlined in the staff
report as an eventual element of the Affordable Housing Agreement, but the Housing Commission, with
the exception of Commissioner Noble, preferred to have this as a specific condition in the resolution.
The Housing Commission reviews affordable housing projects and the staff analysis based on 1) the
proposal’s consistency with the City’s affordable housing policies and ordinances, 2) effectiveness in
serving the City’s housing needs and priorities and 3) project development and operating feasibility
(including evaluation of financial assistance). Based on these considerations, the Commission
recommends the revised Sambi affordable housing project as a desirable method of fulfilling the Sambi
inclusionary requirement, worthy of City financial support.
The City Council will be considering the discretionary permits for the Sambi Seaside Heights Project under
separate action.
FISCAL IMPACT:
Staff and the Housing Commission are recommending financial assistance in an amount not exceeding
$453,600, or $10,800 per affordable unit, from the City’s Housing Trust Fund for the Sambi Seaside
Heights project. Currently, the Trust Fund contains $2,231,409, which are revenues derived primarily
from Housing Impact Fees and sale of Affordable Housing Credits. The Housing Commission staff report
of September 12, 1996 (attached) presents a complete analysis of this recommended subsidy request.
EXHIBITS:
1. City Council Resolution No. 9b -33/2-
2. Staff Report to the Housing Commission dated, September 12, 1996 w/attachments
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CITY COUNCIL RESOLUTION NO. 9 6 -332
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING CITY FINANCIAL
ASSISTANCE TO AN AFFORDABLE HOUSING PROJECT
WHICH WILL PROVIDE A TOTAL OF 42 FOR-SALE
TOWNHOMES FOR LOW INCOME HOUSEHOLDS TO BE
LOCATED WITHIN THE SOUTHWEST QUADRANT OF
THE CITY.
CASE NAME: SAMBI SEASIDE HEIGHTS
CASE NO: AHP 94-3(AKT 92-02(A)/SDP 92-06(A)
WHEREAS, the City of Carlsbad has identified a need to provide housing
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 proposed
for construction which will provide 42 for-sale townhomes on property generally located east of
Paseo de1 Norte, north of Camino de Las Ondas, and south of Palomar Airport Road which will
provide housing affordable to low income households; and
WHEREAS, the City of Carlsbad’s comprehensive financial analysis of the
project concludes that City financial participation in the project is necessary, appropriate and
exceeded by the public benefit received by the City; and
WHEREAS, the affordability level and the unit mix of the proposed project are
consistent with the City of Carlsbad’s Housing Element objectives, Consolidated Plan, and
Inclusionary Housing Ordinance.
NOW, THEREFORE. BE IT HEREBY RESOLVED by the City Council as
follows:
1. The foregoing recitations are true and correct.
2. The City Council of the City of Carlsbad hereby approves financial
assistance for the proposed affordable housing project known as “Sambi
Seaside Heights” in the following form and as outlined in the Housing
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 for
project construction and permanent financing, including on-site
and/or off-site public improvements directly related to the project.
b. City assistance will be structured, through approval of an Affordable
Housing Agreement, to provide for a reduction in the amount of
assistance if the proceeds from the sale of the affordable units
exceeds their actual cost, not including the land value.
3. The development team for the subject affordable housing project shall enter
into appropriate agreements with the City of Carlsbad which outline the
terms of City participation and the conditions to be met prior to commitment
of City assistance as contained with the Staff Report to the Housing
Commission dated, September 12, 1996.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City
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 Finnila
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)
CCRESO# %-_332-
PAGE 2
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llre C@y of Gwlsbad Housing & Rederetopment Department
A REPORT TO THE HOUSING COMMISSION I Itr?m Nn- 1
Sta# Evan E. Becker
Housing & Redevelopment Director
DATE: SEPTEMBER 12,1996
SUBJECT: AFFORDABLE HOUSING PROJECT - SAMBI SEASIDE
HEIGHTS - CT 92-02tAWUD 92-06(A)/SDP 92-06tAYHDP 92-03(A)
Request for recommendation of approval of a 42-unit for-sale affordable
housing project and financial assistance in an amount not to exceed
$453,600 from the City of Carlsbad Housing Trust Fund supporting the
satisfaction of an inclusionary housing obligation of the project known as
Sambi Seaside Heights.
I. RECOMMENDATION
That the Housing Commission ADOPT Housing Commission Resolution No. 96-010,
recommending APPROVAL of the project known as Sambi Seaside Heights, including
a proposal to construct 42 for-sale affordable townhomes, as recommended by the
Planning Commission, and financial assistance in an amount not to exceed $453,600
from the City of Carlsbad Housing Trust Fund for the purpose of assisting in the
construction of 42 housing units affordable to lower-income households.
II. PROJECT BACKGROUND
This Sambi application is a revision of a previously approved submittal. The original
project (CT 92-02) was recommended by the Housing Commission and Planning
Commission, and approved by City Council in March 1994. Subsequently, the Coastal
Commission approved the project with a condition requiring a redesign of the project to
avoid several steep slope areas containing native habitat. These changes have resulted in
the need for the project to be re-evaluated by the City and approved by the Planning
Commission and City Council. The changes include a revised affordable housing
component which must be reconsidered by the Housing Commission.
The entire Sambi project now consists of a total of 277 residential units as compared to
349 residential in the original project. The project components are now 140 multi-family
dwelling units (an 80 unit reduction) and 137 standard single-family lots (an increase of 8
units). With respect to the multi-family units, Area “A” has been redesigned and contains
42 affordable townhomes adjoining 40 market townhomes with both components sharing
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AFFORDABLE HOUSINs ROJECT
CT 92-02(A)/PlJD 9246(A)/SDP 9246(A)/HDP 9243(A) - SAWBl SEASIDE HEIGHTS
SEPTEMBER 12.1996
PAGE 2
centralized facilities and having a single homeowner’s association. Previously, Area ‘9”
was approved for 72 apartments with 63 of them being affordable. Another 58 market
townhomes remain as originally planned in Area “D” of the project, but with a reduction
of 18 units. The following table summarizes the changes in the Sambi project:
SAMBI SEASIDE HEIGHTS
AREA “A”
MARKET
AFFORDABLE
AREA “B” & “C”
(MARKEF)
AREA “D”
(MARKET)
ORIGINAL APPLICATION
72 Condos
9 Apartments
63 Apartments
129 S.F Homes
76 Townhomes
REVISED APPLICATION
40 Townhomes
42 Townhomes
137 S.F. Homes
58 Townhomes
TOTAL 349 277
As the above chart indicates, the original Sambi inclusionary housing obligation was 63
units and is now 42 units.
111. AFFORDABLE PROJECT DESCRIPTION
A. Location
The Sambi property is generally located east of Paseo De1 Norte, north of Camino de las
Ondas, and south of Palomar Airport Road. The 42 unit affordable townhome project is
located in the northeastern portion of the property, east of Alga Road as it will extend
from Palomar Airport Road through the Sambi property. The project is located in close
proximity to major employment centers, including the future opportunities in nearby
Carlsbad Ranch. Retail and commercial services are located within l-2 miles at Palomar
Airport Road and at Poinsettia Road. The Sambi property is located adjacent to and east
of the new Poinsettia Community Park.
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AFFORDABLE HOUSlh ROJECT
CT 9242(A)/PUD 9246(A)/SDP 9246(A)/HDP 9243(A) - SAMBI SEASIDE HEIGHTS
SEPTEMBER 12,1996
PAGE 3
1 / _ SAMBI AFFORDABLE HOUSING / UNIT MIX
UNIT TYPE NO. SIZE
3 Bedroom 30 1,208 S.F.
2 Bedroom 12 1,122 S.F.
TOTAL 42
B. Other Features and Amenities
Each unit will have a private patio area, 2 ‘/z baths and a 2-car garage. The project will
jointly utilize a central recreational facility with the adjoining townhome project.
IV. DEVELOPMENT TEAM
A. Developer - SAMBI SEASIDE HEIGHTS, L.L.C.
B. Builder - SAMBI SEASIDE HEIGHTS, L.L.C.
C. Design, Engineering and Planning - The KTGY Group, Inc. (Plarming
and Engineering); Planning Systems, Inc. (Planning and Project
Management).
D. Lenders/Investors - To be determined.
V. AFORDABILITY
A. Purchase Price and Income Levels
The following chart outlines the approximate purchase prices and maximum
allowed income levels for the affordable units. These amounts may change as
certain key variables change such as median incomes, interest rates and taxes.
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AFFORDABLE HOUSIN, ROJECT
CT 92-02(A)/PUD 9206(A)/SDP 9246(A)/HDP 92*3(A) - SAMBI SEASIDE HEIGHTS
SEPTEMBER 12,1996
PAGE 4
SAMBI AFFORDABLE HOUSING
MAXIMUM PURCHASE PRICES AND INCOMES*
UNIT TYPE
3 Bedroom
MAXIMUM PURCHASE
PRICE
$118,783
MAXIMUM EUGIBLE
INCOME
$41,750
2 Bedroom $ 99,270 $35,425
*Based on 80% of Area Median Income
. B. Tawet Powlation
The affordable units will be targeted primarily to lower-income first-time
homebuyers. For this reason, it can be expected that these households will
generally be close to the 80% of median income limit as this affords a
household a greater likelihood of qualifying for the purchase. These
targeted income levels are well matched with wage levels in the nearby
employment centers.
C. Terms of Affordabilitv
In accordance with the options for for-sale units contained in the
Inclusionary Housing Ordinance, the affordable units will initially be sold
at restricted prices to lower-income eligible buyers, and at resale, the units
will be sold at market prices with the City recovering the initial subsidy
required to make the unit affordable. This recovered subsidy will be
“recycled”, that is, used to assist another eligible household with an
affordable purchase. Although the actuaI units change this mechanism
accomplishes the objective of keeping units assisted in perpetuity.
D. Housing Element/Consolidated Plan Consistency
The for-sale affordable units support several Housing Element Goals and
Objectives, including Objective 3.5 (Lower Income New Construction),
Objective 3.6 (Inclusionary Housing), Objective 3.2 (Larger Units), Goal 4
(Jobs - Housing Balance) and Objective 3.1 (Lending Programs For
Homebuyers). The City’s Consolidated Plan ranks lower-income
homeownership as a “medium priority”.
AFFORDABLE HOUSINk AOJECT
CT 9202(A)/PUD 9246(A)/SDP 9246(A)/HDP 92-03(A) - SAMBI SEASIDE HEIGHTS
SEPTEMBER 12,1996
PAGE 5
VI. FINANCIAL ASSISTANCE
The developer has made a request for financial assistance to support sale of the 42 units
at affordable prices. Staff is recommending that assistance be provided in the amount of
$10,800 per unit or a total of $453,600. The following factors were considered in
arriving at this recommendation.
A. Develoument Team
It is important that the developer have the capacity to successfully
implement the project. Although the developer is not experienced with
assisted for-sale development, the team is experienced and has been
successful in developing conventional homeownership projects.
B. Cost Reasonableness
In its Housing Commission Review Application attached as Exhibit “2”,
the developer has provided detailed proforma development cost
information. Since development costs are one of the key variables
determining the need for subsidies, it is important that those costs be
reasonable. At $152,000, including land but no profit, these average unit
costs are consistent with the prototype cost estimates developed for the
City’s “Economics of Affordable Housing”. Specific cost line items,
including “hard” construction costs of $44 per square foot, appear to be
within local industry norms.
C. Undue Gain
It is important that any financial assistance have the effect of making the
units more affordable and not creating undue gain for any party. In the
proposed affordable project there is no developer return or profit factored
into the project proforma and there are no other incentives tied to either
the market or affordable projects which would create any gain for the
developer.
D. Subsidy Analvsis
With projected costs and a known restricted purchase price based on the
maximum household incomes, it is possible to determine the estimated
level of subsidy required to develop and sell the affordable units. With
this subsidy estimate, an amount of City assistance is recommended which
effectively “leverages” the City’s housing funds. Leveraging is defined as
the ratio of City subsidy to subsidy provided from other sources. The
following chart estimates the required subsidy for the affordable project
and shows the recommended level of City assistance and developer
subsidy necessary for the project to be feasible.
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AFFORDABLE HOUSIN> ROJECT
CT 9242(A)/PUD 92-06(A)/SDP 9246(A)/HDP 924)3(A) - SAMBI SEASIDE HEIGHTS
SEPTEMBER 12,1996
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PROFORb+UBSlDY ‘ANALYSIS .$‘:i. i.,
SAMBI SEASIDE HEIGHTS
,,;,,(pef’Unit-kverage) .. 1~ “1:‘ /j
HOMEBUYER INCOME
80% AMI* 70% AMI”
(,#MXMUMAUOWABLE) (AVEMGE ACTUAL)
COST:
LAND $ 28,000 $ 28,000
OTHER 124,000 124,000
TOTAL $ 152,000 !§ 152,000
MAXIMUM PURCHASE
PRICE**
$ 113,200 $ 96,900
SUBSIDY REQUIREMENT
( fncludin~ Land)
($ SS,SOO) ($ 55,100)
SUBSIDY REQUIREMENT
fwitbout Land)
SUBSIDY SOURCES
City Assistance
Developer Subsidy
(Including Land)
Developer Subsidy
(Not hcfuding land)
($ 10,800) ($ 27,100)
$ 10,800 $ 10,800
$ 28,000 !§ 45,100
-o- $ 16,200
I CITY LEVERAGE $2.9: $1 $4.5: $1
* AMI = Area Median fnwme, Sao Diego County ** Based on housing cost of 30% of income for household sizes of 3.5
(2 bedrooms) and 5.5 (3 bedmoms)
The Subsidy Analysis shows estimated subsidy needs for two levels of homebuyer
income. Eighty percent (80%) of Area Median Income (AMI) is the maximum
allowed income and is used to determine the maximum allowed purchase price.
However, actual buyers will have incomes below 80% AMI, therefore, 70% AM1
is used to illustrate the subsidy requirement based on the realistic actual average
incomes of buyers. Based on 70% of AM1 the recommended level of City
assistance would provide $1 of subsidy for each $4.50 from the developer or some
other outside source ( leverage of 4.5: 1). Although this is a lower level of
leveraging than rental projects such as Villa Loma and Laurel Tree Apartments,
staff believes it is acceptable for a homeownership project where there are no
“deep subsidy” funding programs available.
AFFORDABLE HOUSINt MIJECT
CT 9242(A)/PUD 9246(A)/SDP 9246(A)/HDP 9243(A) - SAMBI SEASIDE HEIGHTS
SEPTEMBER 12.1996
PAGE 7
E. Form of Assistance
City as well as developer assistance would be provided in the form of
funds which are first used for construction and then for deferred (no
payment for a period of time) financing for the actual homebuyer. This
subsidy financing is structured as loan which is repaid to the City upon
resale. Any real appreciation is shared between the City and the
homebuyer based on contribution to the initial purchase. No “windfall”
comes to the subsidized buyer.
City assistance will be structured to provide for a reduction in the amount
of assistance if the proceeds from the sale of the affordable units exceeds
their actual cost, not including the land value.
F. Securitv
As indicated, the City takes a security interest in each property. Because
the amount of City assistance is only a portion of the total subsidy, the
City will have a significant “cushion” of equity protecting its actual cash
loan.
G. Risks
The two major types of risk in this for-sale development are construction
risk (units do not get built) and market risk (units do not sell). In addition,
it is likely that any City financial assistance will be subordinated to
conventional bank financing. If a problem did arise, the bank’s interest
would come ahead of the City’s. Although the City would be taking on
some of the risk inherent with development, there are several factors that
mitigate these risks. First, the City’s financial involvement would
constitute a very small portion of the project, meaning that the other
lenders and developer will be motivated to insure successful completion.
Second, the developer must successfully satisfy an affordable housing
obligation through this project or risk violating conditions of approval for
the whole development. Last, in terms of market risk, the City’s
assistance will be fixed and additional subsidies required to insure sale of
all units will be the obligation of the developer.
VII. ENTITLEMENTS
The redesigned Sambi project meets all City land use policies and standards and has
received a recommendation of approval from the Planning Commission.
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AFFORDABLE HOUSlt I ,‘ROJECT
CT 9242(A)/PUD 92-D6(A)/SDP 92-D6(A)/HDP 92-93(A) - SAMBl SEASIDE HEIGHTS
SEPTEMBER 12.1996
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VIII. AFFORDABLE HOUSING AGREEMENT
Prior to final map or issuance of building permits, the developer will be required to enter
into an Affordable Housing Agreement with the City which binds the developer to the
specifics of the affordable housing project including affordable purchase price and
household income limits; a construction schedule; amount and form of City assistance;
compliance reporting requirements and implementation agreements (e.g. loan
agreements, trust deeds and resale restriction agreement).
IX. SUMMARY
It is the role of the Housing Commission to make recommendations to the City Council
based on several considerations with respect to affordable housing projects. These are:
u The proposal’s effectiveness in serving the City’s housing needs and
priorities as expressed in the Housing Element of the General Plan and the
HUD Consolidated Plan.
n The proposal’s consistency with the City’s affordable housing policies and
ordinances as expressed in the Housing Element, Inclusionary Housing
Ordinance, Density Bonus Ordinance, etc.
a The proposal’s development and operating feasibility, emphasizing the
development team’s capacity, the financing plan and the appropriate role of
the City in providing financial assistance or incentives.
This affordable housing proposal aimed at satisfying the inclusionary housing
requirement of the Sambi Seaside Heights project represents a desirable potential addition
to the City’s mix of affordable units to be developed by way of the Inclusionary Housing
Ordinance. To this point, approved affordable projects under the Ordinance have been
predominantly rental. Staff believes the proposal is more appropriate at this time than
Sambi’s original rental apartment proposal. The previous plan did not include any
specifics regarding how the project would be financed or what role the City would be
asked to play. Although low-income affordable homeownwership units are a somewhat
lower need priority than family rental units, the Housing Element clearly establishes them
as a desirable objective. These units will support the objective of providing affordable
ownership opportunities that support the job-creating economic growth.
The project as proposed meets the necessary affordability requirements to be consistent
with applicable City policies and ordinances.
Staff believes that the proposed project is deserving of the recommended amount of
financial assistance in order to achieve project feasibility with a quality product. The
City’s assistance is effectively leveraged with developer contribution to fill a subsidy
“gap” which is a realistic cost of creating affordability.
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AFFORDABLE HOUSlh ,-‘ROJECT
CT 92-02(A)/PUD 92-06(A)/SDP 9246(A)/HDP 92-03(A) - SAMBI SEASIDE HEIGHTS
SEPTEMBER 12,1996
PAGE 9
X. EXHIBITS
1.
2.
3.
Housing Commission Resolution No. 96-O 10
Housing Commission Review Application
Planning Commission Staff Report dated, August 2 1, 1996 (including reduced
exhibits of proposed project).
EB/ar
8/l 996
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HOUSING COMMISSION RESOLUTION NO. 96-010
A RESOLUTION OF THE HOUSING COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA TO
RECOMMEND APPROVAL OF THE DEVELOPMENT OF
42 FOR-SALE TOWNHOMES AFFORDABLE TO LOW INCOME HOUSEHOLDS WITHIN THE AMENDED SAMBI PLANNED DEVELOPMENT ON PROPERTY GENERALLY
LOCATED EAST OF PASEO DEL NORTE, NORTH OF
CAMINO DE LAS ONDAS AND SOUTH OF PALOMAR
AIRPORT ROAD. APPLICANT: SAMBI SEASIDE HEIGHTS, L.L.C CASE NO.: AHP 94-3(AKT92-02(AI/SDP 92-06(A)
WHEREAS, an amended Affordable Housing Project (AHP) Application
(No. 94-3A) has been submitted to the City of Carlsbad’s Housing Commission for
review and consideration by the developer of Sambi Seaside Heights; and
WHEREAS, the applicant has expressed a need to receive financial
assistance in the amount of $453,600 from the City of Carlsbad Housing Trust Fund
for the purpose of assisting with the construction of the subject affordable housing
units; and
WHEREAS, said Housing Commission did, on the 12th day of
September, 1996, hold a public meeting to consider said application with the request
for financial assistance; and
WHEREAS, at said public meeting, upon hearing and considering all
testimony, if any, of all persons desiring to be heard, said Commission considered all
factors relating to the application and request for financial assistance.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing
Commission of the City of Carlsbad, California, as follows:
1. The above recitations are true and correct.
2. That based on the information provided within the application and
testimony presented during the public meeting of the Housing Commission on September 12, 1996, the Commission recommends
APPROVAL of Affordable Housing Project (AHP) No. 94-3(A) containing
42 for-sale townhomes to be affordable to low income (80% of county
median) households to the City Council subject to the findings and
conditions outlined herein.
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3. That the Commission’s recommendation for approval of said affordable housing project includes support for the financial assistance requested
by the developer/applicant for the project in an amount not to exceed
$453,600 in the form of a loan from the City of Carlsbad’s Housing
Trust Fund.
Findinas:
1. The project is consistent with the goals and objectives of the City of
Carlsbad’s Housing Element and Consolidated Plan, the lnclusionary Housing
Ordinance, the Density Bonus Ordinance and the affordable housing requirements of the approved Zone 20 Specific Plan.
2. The project, as amended, will provide a total of 42 townhomes (2 and 3
bedroom) affordable for sale to households at 80% or below the county median which meets a “medium” priority as outlined within the City of Carlsbad’s Consolidated Plan. The project has the ability to effectively serve the City’s housing needs and priorities as expressed in the Housing Element
and Consolidated Plan.
3. The project appears to be financially feasible based on review of the prospective sources of subsidy and projected costs.
Conditions:
1.
2.
3.
4.
Recommendation of approval is granted for AHP No. 94-3(A), as shown on Site Development Plan 92-06(A) incorporated by reference and on file in the Housing and Redevelopment Department. Development shall occur substantially as shown unless otherwise noted in the conditions of project
approval by the City Council.
Recommendation of approval is granted for AHP No. 94-3(A) subject to the
condition that the applicant submit an acceptable schedule for construction of the required ratio of income restricted units for inclusion in the final Affordable
Housing Agreement to be approved prior to Final Map. The schedule shall
indicate acceptable construction phasing for the affordable units in relation to
the construction of the market rate units.
The affordable housing units must be restricted for “the useful life of the
project” which means a minimum of 55 years. To meet this condition, the
units must either remain affordable for their useful life w the developer shall
allow for the transfer of the initial financial subsidy to the City of Carlsbad to ”
“recycle” to another qualified household (80% of county median) if there is a resale of the unit at a market rate price.
Upon final approval of said affordable housing project and prior to final map approval, the applicant shall enter into an Affordable Housing Agreement with
the City of Carlsbad. The agreement shall be binding to all future owners and
successors in interest. The Affordable Housing Agreement shall include all
terms and conditions of said project approval; the amount and form of the
City’s Financial Assistance; compliance reporting requirements and
implementation agreements (such as loan agreements, trust deeds and the resale restriction agreement).
HC RESO NO. 96-010
PAGE 2
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5. City assistance will be structured to provide for a reduction in the amount of
assistance if the proceeds from the sale of the affordable units exceeds their
actual cost, not including the land value.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Housing
Commission of the City of Carlsbad, California, held on the 12th day of September,
1996, by the following vote, to wit:
AYES: Chairperson Calverley, Commissioners:
Escobedo, Rose, Sato, Scarpelli and Walker.
Schlehuber,
NOES: Commissioner Noble.
ABSENT: Commissioner Wellman.
ABSTAIN: None.
NANCY CALVERLEY, Chairperson
Housing Commission
ATTEST:
A-w-
EVAN E. BECKER Housing and Redevelopment Director
HC RESO NO. 96-010 PAGE 3
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SAMBI SEASIDE HEIGHTS, LLC
8841 Firestone Blvd., Downey, Ca. 90241
Tel: (310)881-3808 Fax: (310)861-9432
May 16,1996
Mr. Evan Becker
CITY OF CARLSBAD
Housing Department
2965 Roosevelt Street
Carlsbad, CA 92008
Re: Affordable Housing Development Application
Sambi Seaside Heights
Dear Evan:
Enclosed with this letter is an application for approval of a 42-unit affordable
residential project, to be constructed in conjunction with the Sambi Seaside
Heights project (CT 92-02-A), presently under review in the City’s
Development Processing Department.
Also enclosed with this application are supporting plans, documentation and
disclosure, as required per the Housing Commission Review Application.
The proposed affordable project is intended to meet the developer’s full
obligation to provide affordable housing as required by the City of Carlsbad’s
Inclusionary Housing Ordinance. A narrative of consistency findings under
this Ordinance is enclosed. No density bonus for the project is requested.
On-site affordable units are proposed. They are to be located in the north-
eastern portion of the Sambi Seaside Heights development, within Planning
Area A-North, located some l/2 mile north of existing Poinsettia Lane, east of
and fronting on Alga Road.
In order to ensure the financial viability of the subject affordable project,
Sambi is requesting financial assistance for project development from the
City. A proforma for development and operation, including the requested assistance, is included with this application. This assistance would involve
- I
Mr. Evan Becker
May 16,1996
Page 2
two subsidy programs. One, the City to contribute an amount equal to 110%
of the proforma shortfall. It is anticipated that these funds would be
committed by the City upon the execution of an Affordable Housing
Agreement, and held by the City until the developer has secured a
construction loan. And, two, the developer is requesting that the City make
up any financial shortfall that may result from the sale of any individual unit
at a price below the maximum allowable sales price, which is the figure
reflected in the budget proforma.
It should also be pointed out that the developer is proposing significant
contributions to the project, including land costs, grading costs associated with
finish pad, and is not charging a fee for developer services.
Please review the enclosed information and schedule the project for the first
available Housing Commission hearing. We are available to meet and
discuss the project at your convenience.
lil3iY~ .
Vice President
CC Jeff Gibson
Paul Klukas
. CITY OF CARLSBAD
HOUSING COMMISSION REVIEW APPLICATION
APPLICANT/DEVELOPMENT TEAM INFORMATION
Jame of Applicant: SAMBI SEASIDE HEIGHTS, L.L.C.
nailing Address: 8649 Firestone Blvd.
Telephone No. : Downey, CA 90241 (310) 861-3808
dentify Development Team (i.e., developer, builder, architect, etc.):
Developer: SAMBI SEASIDE HEIGHTS, L.L.C. 8649 Firestone Blvd. Downey, CA 90241
1. GENERAL PROJECT DESCRIPTION
‘reject Nalne: Smbi tiea A (Nor-h)
Describe General Location of Project:
Southeast comer of Alga Road and Cherry Blossom Road.
‘reject Address: None at this time.
;ite Parcel No(s).: Parcel A (North) of CT 92-02; Sambi Seaside Heights
rotal Number of Affordable Units Required (if applicable): 42 units
rotal Number of Affordable Units Proposed: 42 units
rype of Units (i.e., garden apartments, detached, etc.):
Two story townhomes in four-plex and six-plex buildings.
jize (in square feet) of each unit:
PLAN ONE: 1,122 sq. ft. PLAN TWO: 1,208 sq. ft.
3edroom Size Distribution of Units:
PLAN ONE: Two BR; 12 count PLAN TWO: Three BR; 30 count
Iescribe any special features/amenities to be included ‘within project:
- Two car garages - 2 l/2 baths - Washer/dryer setups - Master BR suites - Private patios - Modem appliances
.
” -
.
.
.-
111. TERMS OF AFFORDABILITY FOR AFFORDABLE UNITS (ATTACH
ADDITIONAL INFORMATION IF NECESSARY)
Targeted Income hY& (as % Of area median hICOme): 80% of Carlsbad median level.
Target Population (i.e., families seniors, etc): &elies; First-t-e buyers
Monthly Rent (by bdrm size) or Sales Price of Units:
PLAN ONE: $89,900
FUN Two: $105,900
Term of Affordability (i.e., 30 years, life of project, etc.):
As determined by City.
Projected Schedule for Construction of Affordable Housing Units: Anticipated construction period April, 1997 to April, 1998
If the affordable units are being constructed to satisfy the City of Carlsbad’s Inclusionary
Housing requirement, how will they be phased with respect to construction of the market
rate units? Please Explain Project Phasing: A) Begin construction of affordable tits prior to issuance of building permit for 100th Sambi market-rate unit B) Complete construction for occupancy prior to issuance of certificate of occupancy for 250th Sambi market-rate unit.
Ev. FINANCIAL INFORMATION ON AFFORDABLE HOUSING PROJECT
Please attach a copy of development and operating financial profoxmas showing sources
and uses of funds to accomplish the affordable units proposed in this application. In the
proformas, please identify your subsidy sources and appropriate justifications for use of
these sources. Project proforma attached.
Describe the local financial assistance or incentives, if any, including specific terms
desired for the affordable housing project which you are, or will be, requesting from the
City of Carlsbad: The developer is requesting financial assistance from the Xty of Carl&ad to make up the capital shortfall identified in the attached ?roforma (plus 10%). This amount is anticipated to approximate $1,002,144. Cn addition, the developer requests that the City make up any financial shor fall that may result from the sale of any individual unit at a price lelow the maximum allowable sales price.
Identify any other project conditions which may be relevant to project feasibility: a. The project represents the first affordable "for sale" project to be constructed in the City of Carlsbad. b. The developer proposes to contribute the land to the affordable project at no cost.
C. The developer is not proposing reimbursement for developer fee servicr d. The developer iv 3 not proposing reimbursement for costs associated with grading the finish pad for the affordable development.
V. REQUIRED ATTACHMENTS TO APPLICATION
Housing Commission Review Application
Page 2
12/S/93
The following items must be attached to this application:
l Site Development Plan for Affordable Housing Units;
l Narrative describing how the project meets the Housing Needs and Priorities as
expressed within the City of Carlsbad’s Housing Element and Consolidated Plan;
l Narrative on the project’s consistency with the City of Carlsbad’s Affordable
Housing Policies as expressed in the Housing Element, Inclusionary Housing
Ordinance, General Plan, and other related documents;
l Development and Operating Financial Proformas indicating sources and uses of
funds for the project, including justification and identification of subsidy sources;
l Complete description of financial assistance or incentives including specific terms
that are, or will be requested from the City of Carlsbad for the project, if
applicable; and,
l Completed Disclosure Statement of Ownership Interests within the project.
VI. APPLICATION SIGNATURES
Property Owner Name, Address, Telephone No.: SAMBI SEASIDE HEIGHTS, L.L.C. 8649 Firestone Blvd.
Date 5 - Z i- ‘?d
I, the undersigned applicant, do hereby certify that I am the representative of the legal
owner of the subject property and that the above information is true and correct to the best
of my knowledF.
Applicant
Signature Date s- ZI- qd Y I *
THE BOX BELOW IS FOR CITY USE ONLY
Date Application Received:
Application Received By:
Staff Recommendation:
Date of Housing Commission Review:
Action on Application by Housing Commission:
Other Comments:
tlousiog Conmission Review Applicakm
Page 3
SAMBI SEASIDE HEIGHTS, LLC
8641 Firestone Blvd., Downey, Ca. 90241
Tel: (310)861-3808 Fax: (310)861-94X?
May 20,1996
DESCRIPTION OF FINANCIAL ASSISTANCE REQUESTED FROM THE
CITY OF CARLSBAD FOR THE SAMBI SEASIDE HEIGHTS AFFORDABLE
HOUSING PROJECT:
The developers of the Sambi Seaside Heights Affordable Townhome project
are requesting the following financial assistance and incentive program in
order that the project be constructed:
1) City to contribute an amount equal to 110% of the financial shortfall
identified in the budget proforma. This amount approximates $1,002,144.
It is requested that these funds be committed by the City to the project upon
the execution of an Affordable Housing Agreement and held by the City until
the developer has secured a construction loan.
a City make up any financial shortfall that may result from the sale of
any individual affordable unit at a price below the maximum allowable sales
price, which is the figure reflected in the budget proforma.
3) City to allow joint-use of common recreation facilities with the market
rate condominium project on adjacent Area A (South).
4) City to grant a waiver for the development standard requiring on-site
recreational vehicle (RV) storage parking.
SAM61 SEASIDE HEIGHTS
PROJECT PROFORMA ANALYSIS
42 AFFORDABLE TOwNHornS
MAY 6,199s
GENERAL INFORMATION
PlOtting
% Mix
Square Footage
Avg. Direct Onsites/SF
FINANCIAL ANALYSIS
Revenue
Sates Price
Premium
Total Revenue
Developer Contribution
Total Revenue and
Developer Contribution
Pfcject costs:
Land
Property Taxes
Common Ama
Offsite Directs
Onsite Directs
Construction Indirects
Project Development
Sales and Marketing
Finance
General Contractors Fee
Total Costs $ 1,824,240 s 4,5eo,600
TOTAL % l-426.800 J 4.047.000 % t21.691:
12
29%
1.122
$ 89,900
$ 29,ooo
$ 336,000
i 74, 12,000 loo
$ 204,600
$ 630,120
$ 67,560
$ 254,400
$ 106,260
$ 102,000
% 43,200
30
71%
1,208
$ 105,900
% -
$ 105,900
% 29,ooo
% 84woo
% 30,000
$ 185,250
$ 571,500
$ 1,575,300
$ 153,900
% 636ooO
$ 265,650
$ 255,000
$ lWoo0
$
$
%
$
17,050
52,510
5,130
21,200
8,855
8,500
3,600
152,020
4%
16%
7%
7%
3%
. .- - ’
.
388 88888. 8 000000000 mooooooov) li * c4 9 ru_ N_ ru 4! 9 e k 9 CD, 9 cu_ Y. c9 c9
~ooooooooomooooooou? 5 ooooooooobwoooooonl Q$gfo-“r,, z;iEi;
r F w *- 3 g g oe mm o- we Fe 0 w d .
8 bZ ~~~Z;s ** r- 5
a
- i
DESCRm7ON
Appliance
Cabinets
Finish Carpentry
Rough Carpentry
Counter Tops
Clean-up, Rough
Clean-up, Move in
Concrete Foundations
Drywall
Electrical Fixtures
Electrical Wiring
Enclosures-Showers
Flooring
Garage Doors
Hardware-Finish
HVAC
Insulation
Mirrors
Painting
Plumbing
Rooting
Gutter-Downspout
Saah & Screens
Sheet Metal
StUCCO
Tubs & Showers
Wardrobe Doors
Weatherstrip
Contingency
Onsite Directs
PER UNIT
f 925
1,600
$ 900
$ 18,750
$ 1,400
225 f
225
$ 2,800
$ 3,300
t 2::
5
‘235
1500
‘450 :
1,::
$
850
: 350
$ 3,000
$ 2,900
$ 3,000
$ 400
$ 1,850
$ 700
$ 2,500
900 5
450
$ 200
$ 1,800
$ 52,510,
TOTAL
BUDGET
t 38,850
87,200
37,800 x
703,500
58,800 t
9,450
9,450 f
117,800
138,800 :
18,900
88,200
x 9,870
:
83,000
18,900
x 12,800
44,100
27,300
I 14,700
126,000 x
121,800
128,000 :
18,800
89,300 x
29,400
105,000
f 37,800
t 18,900
8,400
$ 67,200
$ 2,205,420
.
i
.
DESCRlP77ON PER UNIT
Architect $800
Landscape Architect $400 Land Planning $300
Blueprints $200
Civil Engineertng(Office) $450 Soil Engineertng(Offlce) $400 Utility Engineering $150
Acoustical Engineering $150
Structural Engineering $400 Mechanical Engineering $150
Electrical Engineering $200
Building Permits $600 School Fees $5,500
Park Fees $1,050
Sewer Fees $2,500
Water Connection Fees $2,400
Drainage Fees $500 Plan Check/Permit-Grading $500
Plan Check/Permit-Imp. $400
Utility Fees $1 ,wo Misc. Fees $1 ,wo Association Dues $1,000
Insurance-General Liability $300
Insurance-Course of Construction $300
Legal-General $250
Accounting & Auditing $150
Bonds $150
TOTAL
BUDGET
833,600
$16,800
$12,600
88,400
$18,900
$lS,SW
$6,300
$6,300
$16,800
$8,300
$8,400
$25,200
$231,000
844,100
$105,000
$100,800
$21,000
$21,000
$16,800
842,000
wwo
842,000
$12,600
$12,600
$10,500
86,300
86,300
Project Development $21,200 3890,400
- i
DESCR/P77ON
Onsite Signs
Model Decoration
Consultants
Sales Office Decorating
Landscape Maintenance
Model Cleaning
Utilities
Maintenance Supplies
Computer
Ad Agency Fees
PR Agency Fees
AD Media
Brochures
Colatteral Material
Opening Events
Photography
Sales Training
Sales Incentives
Direct Mail Program
Sales Forms
Homeowner Manual
Sales Oftice Supplies
Sales Commissions
Consolidated Costs
.Legal Documents/Fees
DRE Fees
Sales and Marketing
PER UNIT
$ 75
$ 500
$ 200
$ 150
$ 150
$ 45
; 225 45
$ 40
$ 125
: 2:::
$ ‘150
f 1:
f 100
$ 1,s:
s 100
: 25 25
s
$ 2,oz
$ 500
s 400
$ 150
$ 8,855
TOTAL
BUDGET
$ 3,150 : x $ f t s I t f f $ : : $
21,000
8,400
6,300
6,300
1,890
9,450
1,890
1,880
5,250
5,250
84,000
6,300
2,100
4,200
4,200
2,100
63,000
4,200
1,050
1,050
1,050
84,000
21,000
16,800
6,300
$ 371 ,910
- -’ I
May 8,1996 .
NARRATIVE ON THE PROJECT’S CONSSTENCY WITH THE CITY OF
CARLSBAD’S AFFORDABLE HOUSING POLICIES AS EXPRESSED IN THE,
INCLUSIONARY HOUSING ORDINANCE: ,
SAMBI SEASIDE HEIGHTS AFFORDABLE TOWNHOMES
PLANNING AREA “A - NORTH”
CHARTER 21.85 (INCLUSIONARY HOUSING) CONSISTENCY
21.85.010 Purpose and Intent
The proposed Sambi affordable townhomes are consistent withthe Purpose
and Intent section of the Ordinance since it meets the provision that 15% of
the overall project dwelling units must be restricted to and affordable to lower
income households.
.
In addition, 71% of the proposed units will have three bedrooms.
21.85.020’ Definitions
The proposed Sambi affordable townhomes complies with and is c&n&ant
of the definitions stipulated in this section.
21.85.030 Applicabilitv of Inclusionarv Housing Requirement
The proposed Sambi Seaside Heights project is a residential subdivision
located within the Zone 20 Specific Plan Area. No final map or building
permits have been issued at this time. As a result, the Inclusionary
Ordinance applies to this project.
21 J35.040 Construction of Reauired Inclusionarv Units .
The Sambi Seaside Heights project involves development of residential units
in excess of 7 dwelling units. As a’result it is subject to the requirements of
Chapter 21.85.060. The proposed Sambi project involves application for a
tentative tract map, planned unit-development permit, and hillside permit
also. As a result, this section of the Inclusionary Ordinance is also applicable.
-
l
21.85.050 ’ In-lieu Contributions
- t.-
.
The proposed Sambi Seaside Heights project does not fall into any of the ’ categories listed within this section of the Inclusionary Ordinance. A total of ’
278 residential units are proposed for this project. Development of six (6) or
fewer units are qualified to request the in-lieu contribution formula for
compliance with the Ordinance. In addition, the proposed project did not
achieve a complete application or development approvals for the prop.osed
project within the time limits stipulated by this section. The developer does
not propose or anticipate the payment of in-lieu contributions as a method of
, compliance with his affordable housing commitment.
21.85.060 Inclusionarv Housing Impact Fee
The proposed Sambi Seaside Heights development project did not achieve a complete application or development approvals within the time limits
stipulated by this section, and as a result, does not fall into the category
whereby its affordable housing commitment can be complied with through
payment of fees in accordance with this section.
2I.85.070 Regulations for New Master Plans or Specific Plans
The proposed project does not constitute a new master plan or a new specific
plan. It is a residential subdivision, and as a result, is not affected by this , section of the Inclusionary Ordinance. The proposed project is, however, ’
situated within the Zone 20 Specific-Plan area, and is subject to the 15%
affordable housing requirement stipulated in that specific plan.
21.85.080 Regulations for Existing Master Plans and Specific Plans
The proposed Sambi Seaside Heights project is not an existing master plan or
specific plan project. The project will be required to comply with the 15%
affordable housing requirement stipulated in the existing Zone 20 Specific ,
#Plan.
The Sambi project proposes 278 total residential units. Fifteen percent (15%)
of the 278 total units totals 41.7 required affordable units. The project
proposes 42 total affordable units. As a result, the Sambi,project is in
compliance with this section of the Inclusionary Ordinance.
21.85.090 Regulations*for Residential Subdivisions Not Subiect to Master
Plan or Specific Plan
Fifteen percent (15%) of the base residential unit yield of the Sambi
subdivision property would total a requirement of 39 total affordable units.
Since the developer is proposing 278 units, the required number of units
available to low income households totals 42 units. This 42 unit figure totals
slightly in excess of the 15% obligation.
The developer of the Sambi subdivision’does not plan to satisfy their
inclusionary housing requirement through the payment of in-lieu or impact
fees.
In addition, the developer of the Sambi subdivision anticipates that an
Affordable Housing Agreement will be made a condition of the discretionary
permits for the project, which will state the relevant terms and conditions of
the Agreement to perform the construction of the affordable project.
21.85.100 Regulations for Mobile Home Parks
The propose Sambi Seaside Heights is not a mobile home park so this section
of the Inclusionary Ordinance is not applicable.
21.85.110 Combined Inclusionarv Housinp Projects
The proposed Sambi affordable project is to be situated within the north-east
portion of the Sambi Seaside Heights subdivision, and is not to be located off-
site. In addition, the total number of Sambi affordable units equals 15% of the
total number of Sambi Seaside Heights subdivision units, and therefore no extra units are available to meet another developer’s affordable housing
obligation. This section of the Inclusionary Ordinance is not applicable to the
Sambi subdivision. .
, 21.85.120 Affordable Housing Standards ’
The developer of Sambi Seaside Heights proposes to construct the affordable
units concurrent with the market rate units. the exact schedule of
construction relationship will be memorialized through an Affordable
Houstig Agreement. Also, the proposed affordable units are to be built on-
site, within Planning Area A (North), and will not be distributed randomly
throughout the site.
The proposed site for the affordable units is located within close proximity to
the Palomar Airport business ‘area employment center, relatively proximate
to downtown Carlsbad, and fronts on future Alga Road, which is a major
circulation road for the city. The site will be located approximately l/2 mile
from I-5, and’3/4 mile from the railroad transit station. -
In addition, the Sambi affordable projct proposes both 2-bedroom and 3-
bedroom units. This ratio is considered in compliance with the housing
demand priorities of the City Housing Department.
_- . . -i
As a result of these factors, the proposed project should be considered in
compliance with this section of the Inclusionary Ordinance.
21.85.130 Incentives to Offset the Cost of Affordable Housing
Development *
The proposed project requests financial incentives as identified in the
Incentives Request portion of this application.
21.85.140 Preliminarv Proiect Auulication and Review Process
The subject application accompanying this narrative is intended to comply
with this section of the Ordinance.
21.85.150 Inclusion of Affordable Housing: Agreement as a Condition of
Develoument
The developer of Sambi Seaside Heights agrees to enter into a negotiated
Affordable Housing Agreement with the City of Carlsbad prior to the
recordation of a final subdivision map over the property. This Affordable
Housing Agreement will stipulate conditions under which the affordable
project will comply, including the items listed under this section of the
Ordinance.
21.85.160 Inclusionarv Housing Resale Apreement 3
This section of the Ordinance does not apply to the builders of affordable
units. . .
21 J35.170 Eligibility Requirements
Sambi agrees that only households meeting the standards for designated
lower income groups shall be eligible to occupy the affordable units.
21.85.180 Management and Monitoring
The proposed Sambi affordable units are not anticipated to be rental
properties, and therefore this section of the Ordinance does not apply.
21.85.190 Collection of Fees _
_ This section applies to City bookkeeping of collected fees only.
21.85.200 Separabilitv of Provisions
Sambi acknowleges this section of the Ordinance.
-- -4 -
May 8,1996
NARRATIVE DESCRIBING HOW THE PROJECT MEETS THE HOUSING
NEEDS AND PRIORITIES AS EXPRESSED WITHIN THE CITY OF CARLSBAD’S HOUSING ELEMENT:
SAMBI SEASIDE HEIGHTS AFFORDABLE TOWNHOMES
PLANNING AREA “A - NORTH’
HOUSING NEEDS
Homeless No effect anticipated..
Farmworker’ populatim No effect anticipated.
Senior/eZderIy population Minimal effect anticipated. Some
elderly (persons over 65) may purchase
Sambi affordable townhomes, probably married couples. Approximately 44%
of seniors are in the below 80% of 1
medium income level.
!Hand icapped The proposed Sambi affordable
townhomes will meet the minimum
required ADA standards, thus some
units will be available for use and
purchase by handicapped persons.
Military families . It is anticipated that the proposed
Sambi affordable townhomes will \
meet the market-need for higher rank, or two-income military families.
. Students No effect anticipated.
33
- ,’ a . r
5 I-
,
- I’
HOUSING NEED BY INCOME LEVEL
All 42 proposed Sambi affordable townhomes wilI be available for sale to
persons at income levels at 80% of median income (low income) for the City
of Carlsbad.
HOUSING ELEMENT GOALS
GOAL 1: Carlsbad *s existing housing stock preserved and rehabilitated
with special attention to housing affordable to lower-income households.
No effect anticipated since Sambi affordable townhomes will be new
construction.
GOAL 2: New housing developed with a diversity of types, prices,
tenures, densities and locations and in sufficient quantity to meet the demand of anticipated City and regional growth.
Sambi affordable townhomes will provide ownership residential units, priced
to be available to households at 80% of median income. The project is to be
developed at a density of 9.5 du/ac., at a location where such affordable
housing is not found at this time. The proposed project should be considered
consistent with this Goal.
GOAL 3: Groups with special needs, including low and moderate income
households.
The Sambi Seaside Heights project should be considered as meeting the
specific goal of Objective 3.6, which dictates that all qualified subdivisions
provide a range of housing for all economic income ranges. This project
includes five different neighborhoods, with five different housing product
types. These five different housing product types will be priced at five
different price ranges, thus meeting the Objective.
Objective 3.6.a further requires that a minimum of fifteen percent of all units
approved shall be affordable to lower income households. Sambi Seaside
Heights proposes 278 total units. 15% of these total units (42 units) will be
available to qualified households making 80% of the Carlsbad median
income.
GOAL 4: Housing, jobs, work force balance. Maintenance of a high quality
of rife and a strong local economy through a balance of residentiaz and non-
residential deveZopmet, in particular, a balance of the skills desired and wages
offered by local empIoyers; the skills and education possessed, and wages
earned by the local work force; and the cost of ZocaI housing.
- , -’
Construction of the proposed Sambi Seaside Heights project will provide
temporary moderate range wages during the construction and sales period.
The Sambi affordable townhome project is also located within close proximity
to the Carlsbad industrial parks employment center. It is also within three
miles of downtown Carlsbad and the employment associated with this area.
GOAL 5: Resource conservation.
The proposed Sambi affordable townhomes will incorporate modern
appliances, including code-required energy and water conservation devices.
GOAL 6: Open and fair housing opportunities.
The proposed Sambi affordable townhomes will be offered for sale in
conformance with open housing policies and free of discriminatory practices.
DISCLOSURE STATEMENT
. 1
A?DlJCANTS STATEMENT Of OISCLOSURE OF CEATnlN OWNERSMP IFmRES-fS ON AU APPUCATlONS WHICH wlu REOUIAE i
XCRErlONARY ACTION ON WE PARt OF mE CfT?’ COUNClL OR ANY APPOINXD BOARD. COMMISSION OR COMMmEE. I
{Please Pm)
The following information must be disclosed:
1. Acmlicant
List the names and addresses of all persons having a financial interest in the application.
Seizo H. Tovohara
s&'ft31 SEASIDE -S T.-T-c:.
5641 Firestone Blvd. Downey, CA 90241 *
2. Owner
List the names and addresses of all persons having any ownership interest in the property involved.
S&m H. Tnvnhara WfBI SEASIDE HEIGHTS L.L.C. 8641 Firestone Blvd. Downey, Ca 90241
3. if any person identified pursuant to (1) or (2) above is a corporation of partnership, list the namei and
addresses of all individuals owning more than 1096 of the shares in the corporation or owning any partnership
interest in the partnership. Seizo H. Toyohara
8641 Firestone Blvd. Downev, CA 90241
4. If any person identified pursuant to (1) or (2) above is a non-profit organization or a trust, list the names and
addresses of any person serving as officer or director of the non-profit organization or as trustee or beneficiary
of the trust.
FRMo0013 W90
2075 Las Palmas Drive l Carlsbad. California 920094659 l (619) 436-l 161
Disclosure Statement
(Over)
Page 2
5. Have you had &ore than $250 worth of business transacted with any member of City staff, Boards
Commissions, Committees and Council’within the past twelve months? ‘feS - No z If yes, please indicate perSOn
Penon is dofined U: ‘Any individual. firm. copatnor,hip, joint vonturr. as8Ocktion. social club. frotomal organiztion. corporation. astat,. trust. .
rocwor. syndicala, lhir anQ any othn county, cw and county, cy muniaprlity. dirtnet of athor political r~bdivwon. or any 0th~ group or
combmat8on acting u I umt’
(NOT: Attach additional pages as necessary.)
Sign’ature of Owner/date ’
CHARLES P.MALLON
VICE PRESIDENT
Print or type name Of owner
CHARLGP.MALL,ON
Print or type name of applicant
FRMoool3 8490
EXHIBIT “3” TO HOUSING COMMISSION STAFF REPORT DATED
SEPTEMBER 12,1996 WAS OMlllED.
THIS EXHIBlT IS INCLUDED IN A SEPARATE AGENDA BILL BEING
CONSIDERED BY THE CITY COUNCIL.
October 18, 1996
Sambi Seaside Heights, L.L.C.
8649 Firestone Boulevard
Downey, CA 90241
Re: Commitment of Financial Assistance - Sambi Seaside Heights
The Carlsbad City Council, at its meeting of October 1, 1996, adopted Resolution
No. 96-332, approving a commitment of financial assistance in an amount not to
exceed $453,600 from the City of Carlsbad to lower-income households in the
project known as Sambi Seaside Heights, based on the findings and subject to the
conditions contained therein.
Enclosed is a copy of Resolution No. 96-332 for your files.
ii!isif& CMC
Assistant City Clerk ’
KRK:ijp
Enclosure
1200 Carlsbad Village Drive - Cartsbad, .California 92008-l 989 - (619) 434-2808