Reso PC19-10 PC Reso 0081 - 1180 Main Project Approval

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the impact fee to be utilized immediately increasing the City's supply of affordable units. The payment of the Affordable Housing Impact fee directly to HIP Housing mitigates the impact of the project on the need for affordable housing 29.7 D: (a) Financing or a viable financing plan, which may include public funding sources, is in place for the proposed affordable housing units. The Affordable Housing Plan indicates that the purchase price for the residential building would be approximately $3,300,000, and while the equivalent affordable housing impact fee for this project has not been fully determined, the estimate is that the fee would cover approximately 63% of the total purchase cost. The remaining balance would be funded partially by HIP Housing's own contributions, and additional private financing. (b) The proposed location is suitable for the proposed affordable housing, is consistent with the Housing Element, General Plan, and Zoning, and will not cause residential segregation. The alternative proposed would help finance the purchase of an existing 10 -unit residential building, and convert all of the units to affordable housing. The existing building is located at 3592 Rolison Road, and is consistent with the General Plan (High Density Residential Land Use designation) and the subject Multi -Family Low Density (R-3) Zoning District. Section 7. Conditionally Granted: The Architectural Permit, Conditional Use Permit, Tentative Map, and Affordable Housing Plan are hereby conditionally granted based on the Planning Commission's adoption of the Mitigated Negative Declaration and Mitigation Monitoring and Reporting Program and subject to the Conditions of Approval (Exhibit A) attached and incorporated by reference. In the event of any conflict between the Affordable Housing Plan and the Conditions of Approval, the Conditions shall govern. Page 10 of 25 ATTY/RESOS/2019/RESO.0081 PC RESO 1180 MAIN PROJECT APPROVAL REV: 07-25-19 PR