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RESOLUTION NO. 9-2006
AUTHORIZING THE TOWN MANAGER TO EXECUTE AN AMENDED
AFFORDABLE HOUSING AGREEMENT FOR THE BELOW MARKET RATE
. UNIT REQUIRED TO BE ESTABLISHED WITHIN THE NINE-UNIT
RESIDENTIAL CONDOMINIUM PROJECT AT THE NORTHWEST CORNER
OF EL PINTADO ROAD AND EL PINTO ROAD (PINTADO POINT)
WHEREAS, on September 17, 2002, the Danville Town Council adopted Resolution
No. 100-2002, approving Preliminary Development Plan - Rezoning request PUD
2001-01 and Final Development Plan/Major Subdivision request SD 8662
authorizing construction of a nine-unit condominium project on the 0.57+/- acre
property located at the northwest comer of EI Pintado Road and EI Pinto Road
(being further identified as APN# 197-100-016);
WHEREAS, the multiple family residential project was approved with a density
bonus, allowing a project density of 15.8+/- units per acre, reflecting a density
bonus of 30-plus percent over the base-line allowable density for the property; and
WHEREAS, by way of receiving a density bonus of 30-plus percent, the project
developer was required to enter into an agreement with the Town of Danville
assuring the affordability of one of the nine units in the project for a minimum
period of 30 years; and
WHEREAS, for the subject project, the below market rate unit (BMR Unit) was
required to subjected to a deed restriction that served to regulate its status as a low-
income for-rent unit, assuring that the for-rent unit was made available at a below
market rate to a qualifying low-income household for a thirty year term; and
WHEREAS, on April 6, 2004, the Danville Town Council adopted Resolution No.
28-2004, approving the form and content of the deed restriction for the affordable
unit, the Regulatory Agreement and Declaration of Restrictive Covenants (" Original
Agreement"), with this subsequently being executed by way of signature by the
Town Manager and the developer and recorded against the subject property; and
WHEREAS, the condominium project has been fully constructed and the developer
has advised the Town of his desire to convert the for-rent affordable BMR Unit into
a for-sale BMR Unit, with this change 'in status necessitating the preparation and
approval of an Amended Regulatory Agreement and Declaration of Restrictive
Covenants (" Amended Agreement"); and
WHEREAS, promoting the development of affordable housing within the Town of
Danville is a goal of the Danville Housing Element; and
WHEREAS, the Town Council reviewed the Amended Agreement prepared for the
project on February 7, 2006; and
WHEREAS, a staff report was submitted recommending that the Town Council
approve the Amended Agreement, allowable the BMR Unit to be made available to
qualifying low-income households as a for-sale unit; now, therefore, be it
RESOLVED, that the Danville Town Council hereby finds that the Amended
Agreement regulating the occupancy, sale and resale for the BMR Unit in the
Pintado Point condominium project is appropriate; and, be it further
RESOLVED, that the Danville Town Council hereby authorizes the Town Manager
to execute the Amended Agreement with the developer of the Pintado Point
condominium project in the form as submitted to the City Clerk, together with such
changes as may hereafter become necessary, provided such changes do not
materially increase the obligations of the Town.
APPROVED by the Danville Town Council at a regular meeting on February 7, 2006
by the following vote:
AYES: Stepper, Shimansky, Andersen, Arnerich, Doyle
NOES: None
ABSTAIN: None
ABSENT: None
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APPROVED AS TO FORM:
ATTEST:
PAGE 2 OF RE,SOLUTION NO. 9-2006