HomeMy WebLinkAboutReso 2003-294RESOLUTION NO. 2003-294
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA REAFFIRMING ITS APPROVAL OF THE
RANCHO VISTAS APARTMENT PROJECT
WHEREAS, on April 8, 2003, the City of Chula Vista City Council, its' Redevelopment
Agency, and its' Housing Anthodty ("City/Agency/Authority") authorized the issuance of
private activity bonds from the California Debt Limit Allocation Committee and approved $1.5
million in financial assistance from the Redevelopment Low and Moderate Income Housing
Set-aside Fund and HOME funds to fmance the development of a 150 unit affordable rental
housing project, known as Rancho Vista Apa~httents (the "Project") within the Eastlake master
planned community tosatisfy Eastlake II/III's 183-unit affordable housing obligation; and
WHEREAS, on April 14, 2003, the Design Review Commission approved the
development plans for the Project; and
WHEREAS, subsequent to receiving the project approvals, the Eastlake Company has
proposed an alternative project approach; to develop an affordable for sale development for first
time homebuyers on the same site; and
WHEREAS, on June 17, 2003, the City Council considered a report on alternatives to
meet the Eastlake Company's affordable housing obligation for Eastlake II/III; and
WHEREAS, on July 8, 2003, the City Council considered a report on alternatives to meet
the Eastiake Company's affordable housing obligation for Eastlake II/Iii and the community's
comments on such alternatives.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista reaffirms its approval of the Rancho Vistas apartment project and accept the $12 million
Multifamily Revenue Bond allocation anticipated to be made by the California Debt Limit
Allocation Committee (CDLAC) on July 9, 2003.
Presented by
Approved as to form by
Ann Moore
City Attorney
Resolution 2003-294
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 8th day of July, 2003, by the following vote:
AYES:
Councilmembers:
Davis, Rindone, Salas and Padilla
NAYS:
Councilmembers: McCann
ABSENT:
ATI'EST:
Councilmembers:
None
Susan Bigelow, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2003-294 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 8th day of July, 2003.
Executed this 8th day of July, 2003.
Susan Bigelow, City Clerk