HomeMy WebLinkAboutReso 87-2007RESOLUTION NO. 87-2007
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION OF AN
AFFORDABLE HOUSING AGREEMENT
IMPLEMENTING PROVISIONS OF EXHIBIT C TO THE
DEVELOPMENT AGREEMENT FOR CITY LIGHTS
(FORMERLY MARBELLA) TO PRESERVE
AFFORDABLE HOUSING UNITS WITHIN THE
PROJECT
WHEREAS, on January 9, 2002, the City Council adopted Ordinance 1306-2002 approving a
Development Agreement for the Marbella Housing Development, currently known as City Lights;
and
WHEREAS, as a part of that Development Agreement, the Developer agreed io provide 70
Below Market Rate (BMR) units affordable to families oflow-,median- and moderate-incomes; and
WHEREAS, the Development Agreement predated the City's adoption of a comprehensive
Inclusionary Housing Ordinance setting specific guidelines and requirements for the provision of
BMR units; and
WHEREAS, Section 1(b) of Exhibit C of the Development Agreement provides that,
consistent with Chapter 20.125 of the South San Francisco Municipal Code and its requirements for
Inclusionary Housing ("Inclusionary Housing Ordinance"), Developer may submit an Affordable
Housing Agreement that proposes a distribution of units that differs from that stated in subsection (b)
of section 1 of the Development Agreement; and
WHEREAS, owing to market conditions, strict adherence to the express terms setting forth
requirements for the distribution of affordable units contemplated by subsection (b) of Section 1 of
Exhibit C of the Development Agreement has not been practicable. Specifically, sales of moderate
income units has been challenging, and the City and Watt wish to provide for a flexible discretionary
process that may enable amutually-agreeable redistribution of affordable units subject to City
approval; and
WHEEREAS, execution of an Affordable Housing Agreement will allow the City and Watt
to negotiate unit trades by releasing other low- and median-income units from resale restrictions, and
help preserve the City's overall stock of affordable housing units.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that the City Council hereby authorizes execution of an Affordable Housing Agreement to
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preserve affordable housing within the Watt Communities prof ect by authorizing the City Manager to
negotiate BMR unit trades with the developer to lower the cost of a portion of moderate-income
units by releasing others from resale restrictions.
* * * * ~
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a regular meeting held on the 8th day of August,
2007 by the following vote:
AYES: Councilmembers Addiego, Matsumoto, Fernekes, Vice Mayor Gonzalez and
Mayor Garbarino
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST: ~~o o~'"
~-¢~~,%~ City Clerk
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