HomeMy WebLinkAbout2016-07-26; City Council; Resolution 2016-1622
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RESOLUTION NO. 2016-162
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, TO
APPROVE THE DESIGNATION OF THE TAVARUA SENIOR AFFORDABLE APARTMENTS AS
A COMBINED PROJECT UNDER THE CITY OF CARLSBAD'S INCLUSIONARY HOUSING
ORDINANCE AND SET THE HOUSING CREDIT PRICE FOR THE SALE OF HOUSING CREDITS
WITHIN THE PROJECT TO OTHER HOUSING DEVELOPERS WITHIN THE NORTHWEST
5 QUADRANTS OF THE CITY, SUBJECT TO APPROVAL BY THE CITY COUNCIL AT ITS SOLE
DISCRETION 6
7 WHEREAS, in 1993, the City of Carlsbad adopted an lnclusionary Housing
8 Ordinance, Chapter 21.85 ofthe Carlsbad Municipal Code, which requires all housing developers
9 to provide at least 15 percent of the housing units they construct to be affordable to lower
10 income households; and,
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WHEREAS, pursuant to Chapter 21.85.080 of the Carlsbad Municipal Code, the
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City Council has sole discretion to authorize a residential site to be designated as a combined
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14 inclusionary housing project; and,
15 WHEREAS, the City Council also has sole discretion as to which housing
16 developments may satisfy their inclusionary housing obligations by financially participating in an
17 off-site combined project; and
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WHEREAS, the City of Carlsbad has previously financially partnered with Meta
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Housing Group to construct a total of fifty (50) apartment units affordable to low and very low
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21 income senior households on property located at 3568 Harding Street in the Northwest
22 Quadrant of the City of Carlsbad; and
23 WHEREAS, said fifty (50) units are excess units in that they are not being provided
24 to meet the inclusionary requirement of a specific master housing development or other
25 subdivision but may be used to do so if approved by the City Council; and
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WHEREAS, the City Council has previously expressed a desire to sell the excess
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28 housing credits produced by said project, Tavarua Senior Affordable Apartments, at 3568
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Harding Street to housing developers with a small inclusionary housing requirement (defined as
a requirement of less than 10 units) for developments located within the Northwest Quadrant of
the city; and
WHEREAS, the City Council has an interest in providing a second combined
project within the Northwest Quadrant of the city to assist small housing developers in their
effort to satisfy their inclusionary housing requirements due to the fact that the first combined
project in the Northwest Quadrant, Roosevelt Gardens, has sold or reserved all of the 11
affordable housing credits it had available for purchase, and the development is, in fact,
oversubscribed on credit sales.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of
Carlsbad, California, as follows:
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The above recitations are true and correct.
The City Council hereby designates the fifty (50) unit Tavarua Senior Affordable
Rental development which has been previously constructed in partnership with,
and financially assisted by, the City of Carlsbad on property located at 3568
Harding Street as a combined housing project pursuant to Carlsbad Municipal
Code 21.85.080.
The City Council hereby authorizes the sale of fifty (SO) affordable housing credits
within the subject project to one or more small housing developers (defined as a
developer with an inclusionary requirement of less than ten units) within the
Northwest Quadrant to assist them in their effort to satisfy their inclusionary
housing obligations, subject to approval by the City Council at its sole discretion.
The City Council reserves its sole discretion 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 through purchase of credits from the City of Carlsbad.
The City Council hereby sets the housing credit purchase price for said combined
project at $84,000 per credit. This housing credit purchase price has been
calculated based on the subsidy provided per unit by the City of Carlsbad in 2012
($75,000/unit) for construction of said units, plus interest accrued over the past
four (4) years calculated at three (3) percent per year. This fee shall be increased
in future years and on an annual basis according to the Consumer Price Index
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(CPI) until such time as all of the credits (SO total) have been purchased by
approved developers or builders.
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.
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PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
2 Carlsbad on the 26th day of J!!.!y, 2016, by the following vote to wit:
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AYES: Hall, Wood, Schumacher, Blackburn, Packard.
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NOES: None.
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7 ABSENT: None.
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11 MATT HAL~, Mayor
12 ATTEST:
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