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09A
City of Pleasanton
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CITY CLERK
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2018
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020618
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09A
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1/31/2018 5:19:12 PM
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1/31/2018 3:10:14 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
2/6/2018
DESTRUCT DATE
15Y
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FINANCIAL STATEMENT <br />Property Taxes, Services, and Impact Fees <br />As a low-income housing project, the development qualifies for a property tax <br />exemption, therefore it would not result in new property tax revenue and would not <br />contribute financially for any increased demand for services such as police, fire, etc. <br />However, the applicant would have to pay development impact fees (eg., in -lieu park <br />dedication fee, public facilities fee, traffic fees, water/sewer connection fees, etc.) used <br />to pay for the cost of new City facilities and infrastructure attributable to the <br />development. <br />Lower Income Housing Fund <br />Consistent with the City Council's goal and priority to support Sunflower Hill, the Council <br />approved an Exclusive Negotiating Rights Agreement (ENRA) between the City and <br />Sunflower Hill. The ENRA includes the City's commitment to contributing $2,250,000 <br />from the lower-income housing fund (LIHF) and the use of the 1.64 acre parcel for the <br />project. The FYI 2017/18 Capital Improvement Program (CIP) allocates $2,250,000 <br />from the LIHF to the Sunflower Hill project. In addition, Sunflower will be applying for the <br />allocation of $7,195,844 of the City's "Base City Allocation" from the Alameda County <br />Measure Al Housing Bond (Measure Al funding) to assist in financing of the Project. A <br />complete discussion of the financing has been provided in the corresponding agenda <br />report to be reviewed by City Council. <br />BACKGROUND <br />Irby Ranch Development <br />In February 2017, the City Council approved the Irby Ranch development, a PUD <br />development plan (PUD -110), General Plan Amendment, Downtown Specific Plan <br />Amendment, Rezoning, Vesting Tentative Map, Growth Management Agreement, <br />Affordable Housing Agreement, and Development Agreement allowing for the <br />construction of 87 single-family homes and the set-aside of land for a future affordable <br />residential community for individuals with special needs. The site plan for Irby Ranch is <br />shown below in Figure 1. As outlined within the Development Agreement and Affordable <br />Housing Agreement (AHA) for PUD -110, the developer is required to dedicate the <br />1.64 -acre property to the City and contribute $1,000,000 to the City to support the <br />development of affordable housing on-site. Under the terms of the approved <br />agreements, the Irby Ranch developer will retain ownership and maintenance <br />responsibilities of the subject property until the property is needed for the Sunflower Hill <br />development. <br />Page 2 of 10 <br />
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