HomeMy WebLinkAboutReso 40-14 The Groves 52 Unit Affordable Housing RESOLUTION NO. 40 - 14
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING THE CITY MANAGER TO EXECUTE DOCUMENTS CONFIRMING THE
WAIVER OF THE 52-UNIT AFFORDABLE HOUSING OBLIGATION FOR THE GROVES AT
DUBLIN RANCH (LOT 3)
WHEREAS, on July 15, 2003, the City of Dublin executed a Development Agreement for
the Dublin Ranch/Fairway Ranch Property ("Fairway Ranch Project"); and
WHEREAS, in accordance with the City's Inclusionary Zoning Ordinance the developer
agreed in the Fairway Ranch Development Agreement, dated July 15, 2003, to construct a total
of 587 affordable units, 93 of which would satisfy the City's Inclusionary Zoning Regulations;
and
WHEREAS, the Fairway Ranch Project included three components, a Multifamily
Component including 243 affordable units, a Senior Housing Component, including 292
affordable units, and a Condominium Component, including 52 affordable units; and
WHEREAS, the Development Agreement provided that developer would receive credits
for 332 affordable units for units constructed in the Multifamily Component and Senior Housing
Component, which credits could be applied elsewhere within the developer's land holdings (i.e.
Dublin Ranch) and that developer would receive certain incentives and waivers in exchange for
construction of an additional 162 affordable units; and
WHEREAS, the incentives and waivers consisted of 1) a finding that the developer had
fully complied with the City's Inclusionary Zoning Obligations, 2) a loan, 3) the ability to apply
332 affordable unit credits to future portions of the Fairway Ranch Project, and 4) a commercial
linkage fee waiver to be applied to commercial portions of the Fairway Ranch Project; and
WHEREAS, in recent years, changes in market conditions have made the Condominium
Component less viable; and
WHEREAS, current developer, Lennar Corporation ("Lennar"), submitted an application
for a new project on Lot 3, consisting of 122 townhouse condominium units ("the Current
Project"); and
WHEREAS, Lennar proposed to satisfy its affordable housing obligation for the Current
Project under the City's Inclusionary Housing Ordinance by paying a fee of$1,300,000 in lieu of
constructing 15 inclusionary units (12.5 percent of 122 units); and
WHEREAS, this proposal was approved by resolution on February 18, 2014, when the
City Council approved a Site Development Review Permit and Vesting Tentative Map for the Lot
3 Project; and
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WHEREAS, Lennar has requested confirmation from the City that it is no longer required
to satisfy the original 304 unit Condominium Component and 52 moderate-income-unit
obligation for Lot 3; and
WHEREAS, the City Council desires to authorize the City Manager to execute all
appropriate documents to confirm the waiver of the obligation to construct the 304 unit
Condominium Component and the 52-moderate-income-unit obligation.
NOW, THEREFORE, BE IT RESOLVED that the City Manager is authorized to execute
all appropriate documents, subject to the approval of the City Attorney, confirming the waiver of
the 52-Unit Affordable Housing Obligation for the Groves at Dublin Ranch (Lot 3) Project.
PASSED, APPROVED AND ADOPTED this 1st day of April 2014, by the following vote:
AYES: Councilmembers Biddle, Gupta, Hart, Haubert, and Mayor Sbranti
NOES: None
ABSENT: None
ABSTAIN: None
Jti
Mayor
ATTEST:
ki/41/.1
b,...pd/
City Clerk
Reso No.30-14,Adopted 4-1-14, Item 4.4 Page 2 of 2