HomeMy WebLinkAbout2005-08-11; Housing Commission; Resolution 2005-0051
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HOUSING COMMISSION RESOLUTION NO. 2005-005
THE HOUSING COMMISSION RECOMMENDS APPROVAL TO
THE CITY COUNCIL TO PROVIDE $220,000 IN FINANCIAL
ASSISTANCE FROM THE HOUSING TRUST FUND IN THE FORM
OF LOW INCOME HOME BUYER DOWN PAYMENT ASSISTANCE
LOANS TO THE BUYERS OF ELEVEN (11) AFFORDABLE
CONDOMINIUM UNITS WITHIN THE VILLAGE BY THE SEA
PROJECT IN THE VILLAGE REDEVELOPMENT AREA.
APPLICANT: ANASTASI DEVELOPMENT
PROJECT: VILLAGE BY THE SEA
WHEREAS, Anastasi Development is the developer of the Village by the Sea
housing development within the Village Redevelopment Area; and
WHEREAS, Anastasi Development has constructed a total of 65 residential
housing units within the Village by the Sea development, of which 11 are affordable to
low income households; and
WHEREAS, pursuant to the City of Carlsbad’s Inclusionary Housing Ordinance,
Chapter 2 1.85 of the Carlsbad Municipal Code, the developer is selling 1 1 two, three and
four bedroom units to low income households as to means to satisfy the affordable
housing obligations for the Village by the Sea development; and
WHEREAS, Anastasi Development has requested financial assistance from the
City of Carlsbad to assist the low income buyers to provide the required down payment
for said affordable units;
WHEREAS, on August 11, 2005, the Housing Commission held a public
meeting to consider the developer’s request for financial assistance for the low income
buyers to purchase 11 affordable housing units within the Village by the Sea
development; and
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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 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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2.
3.
4.
The 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 11, for-sale, two, three and four 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
2000-2005 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 August 1 1,2005, the Housing Commission hereby
ADOPTS Resolution No. 2005-05, recommending APPROVAL to the City
Council to provide $220,000 in financial assistance for the low income
buyers purchasing 11 affordable two, three and four bedroom attached
condominium units to satisfy the requirements of the Inclusionary Housing
Ordinance for the Village by the Sea development. Funding for the down
payment assistance program shall be provided from the City of Carlsbad’s
Housing Trust Fund.
HC RES0 NO. 2005-05 PAGE 2
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5. That the Housing Commission recommends that the City Manager or his designee be authorized to prepare and execute the borrower loan documents subject to review and approval by the City Attorney and/or Special Legal Counsel.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Housing
Commission of the City of Carlsbad, California, held on the 11~ day of August, 2005, by the
following vote, to wit:
AYES:
NOES: NONE
ABSENT: HUSTON
ABSTAIN: NONE
RITCHE, SCARPELLI, SCHRAML, AND SMITH
COMMISSION
HOUSING AND REDEVELOPMENT DIRECTOR
HC RESO. NO. 2005-05 PAGE 3