PC 10/14/1992 - Laserfiche WebLink

In regard to what the units will sell for, Mr. Howard said he cannot espond to that until he finds out how many units will finally be approved. As to whether ey have a profit factor figured in, Mr. Howard said again it depends on the City. Originall they wanted to build a project at a profit, sell it and then do another as an on-going project. The plan now is to get a construction loan. THE PUBLIC HEARING WAS CLOSED, Commissioner McGuirk discussed with Mr. Swift the density of the ea between Norton Drive to Bernal Avenue. Mr. Swift said that the project on northern Palomino would be 29 units per acre, which would be the highest density allowed. The 108 unit project between Tawny and Palomino is about 22 units per acre; the Callahan project under construction is in the 12/13 unit per acre range and those across the street are in the 1 /15 acre range. In response to Commissioner Mahern's questions, Mr. Swift replied hat once the PUD is approved for the project, they will know the number of units that wil be approved and can then figure out the selling price. At this time the City cannot say w t the final outcome will be. Commissioner Mahern said even though she thinks it is a good proj t, she has some concerns the units might go to the $200,000 range, which she felt w not affordable or what the Task Force had in mind. Mr. Swift assured her that would not h ppen but that they would be in the area of $175,000 and down. How low they can be s ld for will depend on many factors. With the City paying for the land, they should certain y be able to be sold for under $175,000. Commissioner Michelotti said she has served on the Affordable Hou 'ng Task Force. They felt the concept that the Rotary Club had presented was a good one d one that could possibly be an on-going thing. She pointed out they will know more about the plan at the tentative map stage. She supported the building of seven units on th site. Commissioner McGuirk asked for clarification of the term "qualified' home buyer in Condition 10. Mr. Swift replied that meant the price must be in the ffordable range. Chairman Hovingh referred to Condition 56 and stated he felt the Ian scaping should be scrutinized by the City Landscape architect. Mr. Swift agreed that it would be. Commissioner Mahern addressed the public, stating that even though they might not be in complete agreement on this project that it is a good opportunity to pr vide some affordable housing. She did not want them to think that the City is not listenin to their concerns about the proj ect. Planning Commission Minutes October 14, 1992 Page 6