HomeMy WebLinkAbout2021-08-31; City Council; Resolution 2021-203RESOLUTION NO. 2021-203
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING A $3,100,000 LOAN FROM THE HOUSING TRUST
FUND TO BRIDGE HOUSING FOR THE AVIARA APARTMENTS AFFORDABLE
HOUSING PROJECT (DEV 2017-0033)
WHEREAS, BRIDGE Housing has requested financial assistance for the construction of 70
apartment homes to be affordable to extremely low, very low, and lower income households on an
existing parcel at 1205 Aviara Parkway; and
WHEREAS, the request for financial assistance was submitted to the City of Carlsbad's Housing
Commission for review and consideration at their public meeting on August 12, 2021, on which date
said Commission recommended that the City Council approve the requested financial assistance in the
amount of $3,1000,000; and
WHEREAS, the Planning Commission approved said housing development on December 16,
2020.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as
follows:
1. That the above recitations are true and correct.
2. That the request for financial assistance from BRIDGE Housing is consistent with the
goals and objectives of the City of Carlsbad's Housing Element, and the General Plan.
3. That the request for financial assistance will assist the affordable housing developer in
constructing a total of 70 apartment homes affordable to extremely low, very low, and
lower income households. The project, therefore, can effectively serve the city's housing
needs and priorities expressed in the Housing Element.
4. That the City Council authorizes the Deputy City Manager, Administrative Services, to
assign for a 24-month period from the Housing Trust Fund and to appropriate funds to
provide a cash assistance loan in the amount of $3,100,000 to BRIDGE Housing for the
Aviara Apartment affordable housing project once all project funding is secured by the
developer.
Aug. 31, 2021 Item #9 Page 7 of 87
5. That the City Council authorizes the City Manager, or designee, to prepare and execute
all documents related to the provision of the city loan, subject to review and approval
by the City Attorney.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 31st day of August, 2021, by the following vote, to wit:
AYES:
NAYS:
ABSENT:
Hall, Blackburn, Bhat-Patel, Acosta, Norby.
None.
None.
MATT HALL, Mayor
FAVIOLA MEDINA, City Clerk Services Manager
(SEAL)
Aug. 31, 2021 Item #9 Page 8 of 87