Reso25 16296 - Laserfiche WebLink

Browse Search

3 22206 920 Shasta Affordable Housing Plan and Density Bonus Request November 5, 2024 The Applicant further acknowledges that “[i]f the property is donated to a to a Qualifying Designee, the grant deed and an affordable housing covenant must provide an option to dedicate the property to the City in 5 years if the affordable housing development does not commence.” The affordable housing developer would assign to the City on an as is where is basis without representation or warranty and subject to any security interests granted to and required by affordable housing developer’s lenders, grant to the City a security interest in and rights to contracts with architects, landscape architects, planners, geologists, surveys, engineers, etc., as well as plans, specifications, drawings, data and studies in compliance with City Zoning Code Section 29.8H(12). The affordable housing developer would use commercially reasonable efforts to ensure that third parties to the contracts referenced above for Project work consent to the assignment of these contracts. Qualifying Designee An affordable housing developer is deemed a Qualifying Designee if it is a non-profit organization, mission-aligned for-profit housing corporation, joint venture, limited liability company, partnership, or other entity that: •Demonstrates technical capacity and experience in developing, owning, and operating affordable housing projects or partner with an entity that has the required experience; and •Demonstrates experience relevant to owning and developing three (3) qualifying deed- restricted affordable rental housing projects. If the developer has experience developing less than 3 qualifying affordable rental housing projects, the market rate developer will be required to partner with a developer that meets the experience requirement. The Qualifying Designee is Abode Communities, a non-profit organization with a rich history of developing and operating affordable housing communities. Abode Communities is a nonprofit social enterprise that has been rooted in community development throughout the State of California since 1968. More than an affordable housing provider, Abode’s work fosters a culture of housing inclusion by integrating families and individuals with neighborhoods so communities at-large can thrive.3 Abode Communities has a demonstrated technical capacity and experience in developing, owning, and operating affordable housing projects. Abode Communities’ impact is realized through its fully integrated and multi-disciplinary approach to community development. Its professional services – real estate, architecture and property management – ensure the organization’s high-quality standard is brought to each and every residential community it places in service. Above and beyond, its mission- 3 See https://abodecommunities.org/about-us/purpose-principles/ accessed October 25, 2023. Estimated Project Housing Impact Fee by Proposed Use Development Type Existing SF Proposed SF Project Net New SF Fee PSF Total Fee Net New Office SF 0 308,543 308,543 $23.62 $7,287,774 Net New Retail SF 8,334 0 (8,334) $5.91 $0 Total $7,287,774 ATTY/RESO.0029/CC RESO APPROVING ARCHITECTUAL PERMIT, TENTATIVE PARCEL MAP (920 SHASTA) – EXHIBIT B REV: 04-22-25 VR Page 3 of 29