HomeMy WebLinkAbout055-2018RESOLUTION NO. 55-2018
AUTHORIZING THE TOWN MANAGER TO EXECUTE A REGULATORY
AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS
FOR THE BELOW MARKET RATE RESIDENTIAL UNITS
REQUIRED IN ABIGAIL PLACE - SD 9437
WHEREAS, at their meeting on February 16, 2018, the Danville Town Council adopted
Town Council Ordinance No. 2018-02 and Town Council Resolution No. 105-2017,
approving Preliminary Development Plan - Rezoning request PUD16-0110; Major
Subdivision request SD 9437; and Final Development Plan request DEV16-0107; and
WHEREAS, collectively the approvals served to: (a) rezone the property from an existing
P-1; Planned Unit Development District to a new P-1; Planned Unit Development District;
(b) subdivide the 2.97 +/- acre site to create 19 residential lots (with two of the lots
required to be developed as below market rate units contained in a duet); and (c) approve
the project architectural design and landscape details for the development; and
WHEREAS, under the provisions of the Town of Danville's Density Bonus Ordinance,
Braddock & Logan Homes (the developer dba Cambridge Place RE Investors, LLC)
accepted an obligation to execute a Regulatory Agreement and Declaration of Restrictive
Covenants (Affordable Housing Agreement), restricting the development and operation
of the Below Market Rate (SMR) units that are to be constructed as a duet; and
WHEREAS, promoting the development of affordable housing within the Town of
Danville is a goal of the adopted Danville 2014-2022 Housing Element; and
WHEREAS, the Town Council reviewed the draft Affordable Housing Agreement
prepared for the project that will provide for the regulation of the occupancy and use of
the BMR units at their meeting of May 15, 2018; and
WHEREAS, a staff report was submitted recommending that the Town Council approve
the draft Affordable Housing Agreement between the Town and Cambridge Place RE
Investors, LLC for the BMR units; now, therefore, be it
RESOLVED, that the Town Council authorizes the Town Manager to execute a
Regulatory Agreement and Declaration of Restrictive Covenants for the below market
rate residential units required in Abigail Place - SD 9437.
APPROVED by the Danville Town Council at a regular meeting on May 15, 2018 by the
following vote:
AYES:
Arnerich, Blackwell6, Morgan, Stepper. Storer
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
';Lid j5
CITY ATTORNEY
ATTEST:
e
CITY CLE
PAGE 2 OF RESOLUTION NO. 55-2018