HomeMy WebLinkAboutReso 2013-046RESOLUTION NO.2013-046
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT TO POST SECURITY FOR AN
AFFORDABLE HOUSING OBLIGATION RELATED TO
LAKE POINTE BETWEEN THE CITY AND OLY. PARKWAY
PROJECT, LLC
WHEREAS, the City's Balanced Communities Policy ("Inclusionary Policy") requires 10
percent of any new subdivision in excess of fifty (50) units to be made affordable for low and
moderate-income families (5% low and 5% moderate); and
WHEREAS, the Inclusionary Policy provides alternative methods to meeting the
obligation; and
WHEREAS, to comply with the Policy, the City has prepared an Agreement to Post
Security for Affordable Housing Obligation (the "Affordable Housing Agreement") between the
City and OLY. PARKWAY PROJECT, LLC ("Developer") for City Council's consideration and
approval; and
WHEREAS, the Affordable Housing Agreement requires the Developer to post a bond to
secure satisfaction of the obligation prior to the issuance of building permits for the Lake Pointe
Project.
NOW, THEREFORE, BE IT RESOLVED that the City Council does hereby authorize
the City Manager to execute the Agreement to Post Security for Affordable Housing Obligation
related to Lake Pointe, a copy of which shall be kept on file in the Office of the City Clerk.
Presented by
Gary~YIalb rt P.E.,' AICP
Assistant it Manager/Director of
Develonm t Services
Approved as to form by
en R. gins
C tto y
Resolution No. 2013-046
Page No. 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 19th day of March 2013 by the following vote:
AYES: Councilmembers: Aguilaz, Bensoussan, Salas and Cox
NAYS: Councilmembers: Ramirez
ABSENT: Councilmembers: None
Cheryl Cox, M or
ATTEST:
Donna R. Norris,~CMC, City Clerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2013-046 was duly passed, approved, and adopted by the City Council at a
regulaz meeting of the Chula Vista City Council held on the 19th day of Mazch 2013.
Executed this 19th day of March 2013.
Donna R. Norris, CMC, City Clerk