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Home My WebLink AboutCT 99-14; The Regency; Tentative Map (CT) (18)FROM*: BRETT DEUELOPMENT ^ FfiX NO. : 402 8945304 ^ Oct. 08 1999 B4:04PH P2 BRETT DEVELOPMENT, INC. 4738 S. 131ST ST. OMAHA, NEBRASKA 68137 402-894^848 October 8, 1999 RE: CT99-14/PUD 99^06 The Regency Mr. Craig Ruiz Housing and Redevelopment City of Carlsbad 2965 Roosevelt St. #B Carlsbad, CA 92008 Dear Mir. Ruiz: First of all, I want to thank you for taking the time to review the draft of the inclusionary housing assessment worksheet that f had faxed to you earlier this week. Your review was reassuring and appreciated. T am submitting this as a formal request to purchase the off-site credits of affordable housing in Villa Loma. The Regency project has 11 units. I will need to purchase 1.65 units (11x15%-!. 65) of the off-site housing credits. Thank you for the attention you have given this request and if there is anything additional needed, please contact me at 402-684-4657 or Jeff Painter at 760-753-6269, Very TrulyJ£aujs FROM*: BRETT DEUELOPMENT FAX NO. : 402 894 5304 Oct. 08 1999 04:04PM P3 BRETT DEVELOPMENT, INC. 4738 S. 131STST, OMAHA, NEBRASKA 68137 402-894-4848 Octobers, 1999 Mr, Craig Ruiz Housing and Redevelopment City of Carlsbad 2965 Roosevelt St. #B Carlsbad, Ca, 92008 Dear Mr. Ruiz: 1 have faxed to you a draft of the offsite and combined inclusionary housing assessment worksheet that 1 propose to submit, I would appreciate it if you could review this draft and critique any areas you feel are inadequate or need additional information. I will contact you on Wednesday October 6,1999 to see if you have had time to review this draft. Thank you for your prompt attention as this item is extremely time sensitive to me. You can contact me at 402-681-4657, Very truly yours, Bernard Reeder Brett Development, Inc. FROM': BRETT DEUELQPMENT FftX NO. : 402 894 5304_Oct. 08 1999 04:05PM P4 OP/^SITEAND COMB/NED INCLUSIONARY HOUSING PROJECT ASSESSMENT WORKSHEET , Applicant Name and Address: Brett Development/. Inc. 205 Meadov Vista Way Encinitas, CA 92024 2. Off-site or Combined Project Name Villa Loma Apartments j 3. Description of Project with Inclusionary Housing Obligation: The Regency will consist of 11 single family residences - 5 twin homes and 1 single family fletaehed unit. The site consists of three parcels totalling 1.77 acres, xnclusionary housing obligation - 1.65 credits. '[ 4. Proposed On-site Project Description (if any); Wo onsite project proposed. 5, Proposed Off-site Project Description: The villa Loaia Apartment Project, Carlsbad, CA. 6, Description of On-site Project Constraints: Specific constraints affect the feasibility of an on-site project. The significant product type disparity, the size of the project (11 units) and. aconomics of providing on-site project ag opposed to purchasing inclusionary housing credits- Attacnment "1" to Council Policy Statement No. 57 FROM' : BRETT DEUELOPMENT FAX NO. : 402 894 5304 ~x Oct. 08 1999 04:05Pri P5 fiSSeSSMENTCRfT&tlA a. Ace there significant feasibility issues due to factors such as project size, site constraints, amount and availaoility of required subsidy, ana competition from multiple projects that msKe an an-site option impractical? Sfief Narrative: ASSeSSMENT CONCLUSION ^ (Check appropriate ton) DOBS/VOTSWPPOffroff=-sne PnofvsAt.INCONCLUSIVE SUPPORTS OFf^STTE FWJPOSM. The Regency consists of 11 units of approximately 2,300 S.F. These units are projected to sell at $330,000 •*• per unit. There would exist an extreme disparity in these units and any built to comply with the inelosionary housing criteria. The uneconomical small scale of an affordable project. t>. Will an affordable housing product be difficult tc integrate into the proposed market development because of significant price and product type disparity? Brisf /Vgrrafi've; Yes - See A. c. Does the on-site development entity have the caoacitv to deliver the proposed affordable housing on-sits? Sn'i=£ Narrate: No - The development entity is a developer of sroall high end tracts and custom homes. 2 Relative Advanlaaes/Disadvantaaas of'the Off- site Proposal a, DOSS the off-site option offer greater feasibility and cost effectiveness than the on-site alternative, particularly regarding potential local public sssistsnce? FROM*: BRETT DEVELOPMENT FflX NO. '• 402 894 5304 Oct.PIS 1999 04:06PM_P6 •ASSeSSMOWCRfflERM arigf N^ffati'vg: ASsessH&<trcaNCL.usioN "^fCft«cfc appropriste boxj ooes/wrsMBtPowr OFTVSrfe PGOPOSM,INCQNCWSIVe SUPPORTS offt-smmoeosAt Yes - The offsite proposal of villa Loms Apartments offer both greater feasibility and cost effectiveness than an offsite project. b. Oees the off-sire proposal hsva locationadvanjgoes Over the art-Kite alternative, sucn as proximity to jotjs, scnaois. transportation,service*: less impact on airier existingdevelopments, etc.? Brief Narrajjys: Yes - The Vina Loma apartments offer greater proximity to jobs ; (nearby business parks and retail establishments) public trans- ! portation, schools, shopping and parks. les location on El Camino ,Real near Palomar Airport Road afford it better accessibility. c. Does ma off-site option offer a development entity with me capacity to dfliver the proposed pro/set? f flsf Narrative: es - viVla Loma Apartments has delivered in the past a develop- ment designed, built and managed professionally for affordable '.housing applicants. :iiousing applicants. ; i 6. DOES the otf-site option satisfy multipledevetoaft- QptioaBons that wouM be difficult» satisfy with multiple projects?1 grief Narrative; i TQB _ Villa liona apartments has ipeen able to satisfy the affordable! housing project criteria with an experienced apartment developer* ! professional management in cooperation with the City of Carlsbad/ multiple onsite projects are difficult with an 11 unit project. ! 3. Advancing Housina Goals and Strategy 3, Does the off-siu» proposal advsnca and/or swoon City housing goats and polities sxprsssed in the Housing Berfient, CHAS end inclu&onary Housing Qrdinsnce? /'eg •- v'lila Loma i^partwetita make available to qualified tenants larger rental units to lower income households. The city winrecoup its investment quicker in the Villa Loma project with this ^pplicjints particinat.'1""- XJ"3 Beaencv's 1 5*: (1.65 units) Suvnwv contribution will aid in us DOCS NOT SUPPORTof^sns PHOPOSU.iNcoN&jjsn/e SUPPORTS ofr^srre > PBQPOSM. FROM* : BRETT DEVELOPMENT FflX NO. : 402 894 5304 Oct. 08 1999 04:06PM P7 FROM*: BRETT DEUELOPMENT FftX NO. : 402 894 5304 Oct. 08 1999 04:07PM PS CITY OF OCEANSIDE HIGHWAY NOT TO SCALE CITY OFSAN MARCOS SITE PACIFIC OCEAN CITY OF GNCINITAS VICINITY MAP eno_ § entnen uo nin enGO r\jca xcrL. Ill HIQ