HomeMy WebLinkAbout052-96RESOLUTION NO. 52-96
AMENDMENT OF THE AFFORDABLE HOUSING AGREEMENT FOR PUD 93-03
AND SD 7850 (BRADDOCK & LOGAN GROUP - WEST EL PINTADO AT ILO LANE)
WHEREAS, on August 3, 1993 the Danville Town Council adopted Resolution No. 87-93
approving PUD 93-03 (Braddock & Logan Group); and
WHERF~S, the action provides for construction of 18 single family residential units on
a two_+ acre parcel located on the west side of West E1 Pintado, opposite Ilo Lane (APN#
200-170-007); and
WHEREAS, conditions of approval for the project require that Braddock & Logan Group
construct two units for four person moderate income households earning between 80%
and 120% of the area median income; and
WHEREAS, in June of last year, the Town Council approved Resolution No. 77-95,
authorizing the execution of the project's Affordable Housing Agreement, which serves
to formalize the project's obligation to have two units designated, set aside and retained
as moderate income units; and
WHEREAS, the agreement was recorded on August 16, 1995; and
WHEREAS, Braddock & Logan Group has requested Town Council authorization to
modify two aspects of the agreement and has indicated that the changes are necessary to
facilitate the sale of the moderate income units to qualified buyers; and
WHEREAS, the Braddock & Logan Group has requested an amendment to eliminate the
provisions providing the Town of Danville the first right of refusal to purchase the units
upon resale and a second amendment to modify the required term of affordability
downward from 20 years to either seven or ten years; and
WHEREAS, a staff report was submitted recommending that the Town Council approve
amendment of the Affordable Housing Agreement for PUD 93-03 and SD 7850 - Braddock
& Logan Group, with said amendment being limited to the deletion of the provision for
Town of Danville's first right of refusal to purchase the affordable units (i.e., retain the
20 year term of affordability requirement in its current form - denying Braddock & Logan
Group's request to modify the term of affordability to seven to ten years); and
RESOLVED, that the Danville Town Council hereby finds that amendment of the
agreement to delete the provision for first right of refusal is consistent with the goals and
policies of the Town's Housing Element; and be it further
RESOLVED, that elimination of the first right of refusal provisions from the agreement
shall be made with a corresponding addition of a provision which allows the Town to
recover from the buyer 123% of the excess purchase price paid in a ~ituation of a
prohibited transfer by an owner (e.g., a transfer for a price in excess to that allowed by
the agreement); and be it further
RESOLVED, that the Danville Town Council hereby authorizes the Town Manager to
execute an amended Affordable Housing Agreement for PUD 93-03 and $D 7850 -
Braddock & Logan Group reflecting the changes authorized in this resolution.
APPROVED by the Danville Town Council at a Regular Meeting held on April 16, 1996,
by the following vote:
AYES: Greenberg,
NOES: Doyle, Waldo
ABSTAIN: None
ABSENT: None
Shimansky, Arnerich
MAYOR
APPROVED AS TO FORM:
CITY ATTORNEY
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ATTEST:
CITY CLERK
PAGE 2 OF RESOLUTION NO. 52-96