HomeMy WebLinkAboutResolution - 2935 STATE OF CALIFORNIA ) RESOLUTION NO. 2935
COUNTY OF RIVERSIDE) ss
CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JACINTO, CALIFORNIA, APPROVING AN AFFORDABLE HOUSING
DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN JACINTO AND
PALM DESERT DEVELOPMENT COMPANY CONCERNING THE
DEVELOPMENT OF AN EIGHTY-ONE (81) UNIT AFFORDABLE
HOUSING DEVELOPMENT ON SANTA FE STREET BETWEEN
ESPLANADE AVENUE AND OAKWOOD STREET IN THE CITY OF
SAN JACINTO AND MAKING CERTAIN FINDINGS PURSUANT TO
CALIFORNIA HEALTH AND SAFETY CODE SECTION 33433 IN
CONNECTION THEREWITH
WHEREAS, pursuant to the provisions of California Community
Redevelopment Law (California Health and Safety Code Section 33000 et seq.)
("CRL"), the City Council ("City Council") of the City of San Jacinto ("City") approved and
adopted a redevelopment plan ("Redevelopment Plan") for the San Jacinto Project Area
('Project Area"); and
WHEREAS, the Redevelopment Agency of the City ("Agency') is engaged
in activities necessary to execute and implement the Redevelopment Plan for the
Project Area; and
WHEREAS, the Agency owns that certain real property within the Project
Area consisting of approximately 4.78 acres located on Santa Fe Street between
Esplanade Avenue and Oakwood Street, commonly referred to as Assessor Parcel
Number 439-070-022 (`Property');
WHEREAS, Palm Desert Development Company, a California
corporation ("Developer') desires to acquire the Property from the Agency and construct
on the Property an eighty-one (81) unit multi-family affordable rental housing project
('Project') comprised of forty (40) two-bedroom units, and forty (41) three-bedroom units
subject to the following occupancy restrictions:
(i) Eighteen (18) of the units restricted for lease to households at or below
one hundred twenty percent (120%) of the area median income;
(ii) Thirty (30) units restricted for lease to households at or below eighty
percent (80%) of the area median income;
(iii) Thirty-two (32) units restricted for lease to households at or below fifty
percent (50%) of the area median income.
(iv) One (1) unit restricted for use by the person or household that is
managing the project.
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