HomeMy WebLinkAboutResolution 2016-065 N.C.S. 05/16/2016Resolution No. 2016 -065 N.C.S.
of the City of Petaluma, California
APPROVING AN AFFORDABLE HOUSING REGULATORY AGREEMENT
WITH AN AFFILIATE OF THE RELIANT GROUP IN CONNECTION WITH
THE DEVELOPMENT OF ALTURA APARTMENTS, AND AUTHORIZING
THE CITY MANAGER TO SIGN DOCUMENTS RELATED TO THE
AFFORDABLE REGULATORY AGREEMENT
WHEREAS, The Reliant Group or an affiliate of The Reliant Group will serve as the
general partner in Baywood Equities LP., a California limited partnership that intends to develop
the property at the Northwest corner of Baywood Drive and Perry Lane in Petaluma, CA
consisting of 150 multifamly housing units which include 23 units of affordable units (the
"Project "); and
WHEREAS, in connection with the construction of the Project, the term of affordability
for the low income housing units will be for a term of 30 years commencing upon completion of
the certificate of occupancy; and
WHEREAS, the Planning Commission held a duly noticed public hearing to consider the
Site Plan and Architectural Review of the Project on November 10, 2015 and adopted Resolution
No. 2015 -21 approving the Site Plan and Architectural Review for the Project; and
WHEREAS, The City's Housing Element 2015 -2023 establishes there is an existing
unmet need for very low and low income housing units and insufficient public funds to facilitate
their construction; and
WHEREAS, Petaluma's Inclusionary Housing Program 4.3 3 of the 2015 -2023 Housing
Element states that the City will continue to require residential projects of five or more units to
contribute to the provision of below- market rate housing in one of the following ways:
a. Dedicate 15% of the units on -site, or a portion of the project site or property to the
City of a non - profit organization for use as affordable housing.
b. Within a half -mile radius of the planned SMART stations, developers are
encourage to provide at least 15 percent of the units in a rental housing project at
rents affordable to very low- and -low income households for a minimum of 30
years.
C. Within a half -mile radius of the planned SMART stations, developers may be
required to provide at least 15 percent of the units in a for -sale project at prices
affordable to low- and moderate - income household for a minimum of 30 years.
d. The developer can make an in -lieu payment to the City's Housing Fund.
e. Use alternative methods to meet the intent of the inclusionary requirement,
subject to approval by the City Council; and
WHEREAS, the Owner has chosen to fulfill their inclusionary requirement by providing
15% of affordable units on -site; and
Resolution No. 2016 -065 N.C.S. Page 1
WHEREAS, the project provides a significant public benefit by providing affordable
housing units at no cost to the public and which contribute towards the City of Petaluma's
Regional Housing Needs Allocation; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Petaluma hereby:
1. Finds that the foregoing recitals are true and correct and incorporated herein by
reference.
2. Approves the Affordable Regulatory Agreement and Declaration of Restrictive
Covenants, and authorizes the City Manager or his designee to execute and deliver
such document to which the City is a party substantially in the form provided for City
Council review, with such modifications as may be approved by the City Manager in
consultation with the City Attorney, provided that such modifications are consistent
with the intent of this Resolution and do not substantially increase the obligations or
impair the rights of the City.
Authorizes and directs the City Manager and his designees to execute all documents
and to take all actions reasonably necessary to implement this Resolution and the
transactions described herein.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the pproved as'to,.
Council of the City of Petaluma at a Regular meeting on the 16th day of May, 2016, z form: i t
by the following vote: G
City Attorn y
AYES: Albertson, Barrett, Mayor Glass, Healy, Kearney, Vice Mayor King, Miller
NOES: None
ABSENT: None
ABSTAIN: None -'
ATTEST:
City Clerk Mayor
Resolution No. 2016 -065 N.C.S. Page 2