AgdaPkt 2011-10-10 - Laserfiche WebLink

Browse Search

6.1.E. - Page 1 RE PO RT To the Honorable Mayor and City Council From the Cit Mana er October 10, 2011 SUBJECT Affordable Housing Agreement for 333 Main Street development RECOMMENDATION Approve, by motion, the Affordable Housing Agreement for 17 units within the 132-unit residential development at 333 Main Street, and authorize the City Manager to execute the agreement. BACKGROUND The application for the 333 Main Street project, submitted by Matteson Development partners in partnership with Sares Regis Group, consists of a 4-story, 132-unit residential complex located within the North Main Street Precise Plan ("NMSPP") area. The project will consist of a single residential building with 132 units and three common spaces over a concrete podium. The project includes the development of three open space areas: a segment of a planned creek trail; a landscaped access path along the western side of the property extending from Main Street to the creek trail; and the interior courtyard with common amenities. The project was reviewed and recommended for approval by the Architectural Review Committee (ARC) on March 8, 2011. The project was reviewed by the Planning Commission on September 6, 2011 and September 27, 2011. The Planning Commission approved the following project entitlements on September 27, 2011: 1) CEQA document (Initial Study/Mitigated Negative Declaration), 2) Planned Community ("PC") Permit and 3) Vesting Tentative Map. One of the conditions of approval for the PC Permit and Vesting Tentative prior to issuance of a building permit is the approval and execution of this Affordable Housing Agreement by the City Council. By motion, the Planning Commission voted to recommend that the City Council execute an Affordable Housing Agreement (Attachment 1). ANALYSIS The developer sought a density bonus pursuant to California Government Code Section 65915 that requires cities to provide developers with density bonuses, incentives and concessions, and waivers of development standards, when developers agree to include affordable housing in their residential projects. The allowed base density for this property under the NMSPP totals 101 units (44 units/acre multiplied by 2.28 acres).