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Home My WebLink About049-02RESOLUTION NO. 49-2002 AUTHORIZING AN AMENDMENT TO THE EXISTING AFFORDABLE HOUSING AGREEMENT FOR TWO OF FOUR MODERATE INCOME UNITS REQUIRED TO BE ESTABLISHED IN PUD 98-09 AND SD 8332 "QUAIL GARDENS"-TRIDENT ASSOCIATES, LLC (242 AND 244 ABIGAIL CIRCLE) WHEREAS, on February 1, 2000, the Danville Town Council adopted Resolution No. 6-2000, approving PUD 98-09 and SD 8332 to construct a 40-unit single-family residential project located within the Old Blackhawk Road Specific Plan Area; and WHEREAS, conditions of approval imposed on the project required the developer (Trident Associates, LLC) to establish four for-sale moderate income units (MIUs) as part of the approved 40-unit project; and WHEREAS, on August 1, 2000, the Town Council adopted Resolution No. 105-2000 authorizing the Town Manager to execute an Affordable Housing Agreement for the four required for-sale MIUs in the project; and WHEREAS, the project's approved Affordable Housing Agreement ("Agreement") was ultimately executed and recorded against the property on May 14, 2001; and WHEREA, as of July 2002, two of the four MIUs required to be provided in the project (221 and 258 Abigail Circle) have been built and sold pursuant to the terms of the Agreement; and WHEREAS, the developer has requested an amendment to the Agreement to allow the remaining two MIUs in the project to be retained by the developer, or their assignee, as moderate income rental units for a term of 25 years; now, therefore, be it RESOLVED, that the Danville Town Council hereby authorizes the Town Manager to execute an amendment to the previously recorded Affordable Housing Agreement for PUD 98-09 and SD 8332 to allow for the rental of two of the four MIUs in the project (242 and 244 Abigail Circle) in substantially the form as is attached to this resolution. APPROVED by the Danville Town Council at a regular meeting on July 2, 2002, by the following vote: AYES: NOES: Shimansky ABSENT: Doyle ~tBSTB_INED: None Waldo, Arnerich, Greenberg MAYOR APPROVED AS TO FORM: ATTEST: CITY CLERK