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RESOLUTION NO. 147-2008
AUTHORIZING THE TOWN MANAGER TO EXECUTE A MODIFIED
REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE
COVENANTS FOR THE BELOW MARKET RATE UNITS REQUIRED IN THE
PRESERVE AT IRON HORSE TRAIL RESIDENTIAL PROJECT
(APN #218-040-044)
WHEREAS, at meetings on February 6, 2007 and February 20, 2007, the Danville
Town Council adopted Ordinance No. 2007-01 and Resolution No. 05-2007,
approving General Plan Amendment request GP A 2006-01, Preliminary
Development Plan-Rezoning request PUD 2006-01, Final Development Plan - Major
Subdivision request SD 9094; and
WHEREAS, the approvals provide the owners/ developers (Castle Arms LLC)
authorization to develop a 1.76 acre property with a 34-unit apartment
condominium project; and
WHEREAS, conditions of approval for the project linked the approval to the
provision of a minimum of five affordable housing units in the project serving
households earning a maximum of 110% of the median income established for
Contra Costa and Alameda Counties; and
WHEREAS, the owner/ developer of the project is required to execute an affordable
housing agreement with the Town of Danville regulating the occupancy, rent, sale
and resale of the affordable housing units; and
WHEREAS, promoting the development of affordable housing within the Town of
Danville is a goal of the adopted Housing Element Update of the Town of Danville;
and
WHEREAS, the Town Council reviewed and approved an agreement prepared for
the project that was structured to reflect the developer's intent to build and operate
the project as a for-rent project on September 18, 2007; and
WHEREAS, the developer subsequently decided to develop the project as a for-sale
project, creating the need for review and approval of a modified affordable housing
agreement; and
WHEREAS, the Town Council reviewed the modified agreement prepared for the
project on December 16, 2008; and
WHEREAS, a staff report was submitted recommending that the Town Council
approve the modified agreement with Castle Arms LLC for the affordable housing
units; now, therefore, be it
RESOLVED, that the Danville Town Council hereby finds that the modified
agreement regulating the occupancy, sale and resale for the affordable housing units
to be developed within The Preserve at Iron Horse TrailjPUD 2006-01 is
appropriate; and be it further
RESOLVED, that the Danville Town Council hereby authorizes the Town Manager
to execute the modified affordable housing agreement with Castle Arms LLC 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 December 16,
2008, by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
Arnerich, Andersen, Doyle, Shimansky, Stepper
None
None
None
APPROVED AS TO FORM:
~13~
CITY ATTORNEY. ~
ATTEST:
PAGE 2 OF RESOLUTION NO. 147-2008