RES 96005 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 96-05 RESOLUTION AlPROVING A WAIVER OF CITY FEES FOR THE RED BEAR STANLEY SENIOR HOUSING PROJECT (PUD-95-06) WHEREAS, Red Bear, Inc. (developer) is proposing to construct the Stanley Senior Apartment project, an 86-unit aparUnent project for rental by senior citizens, to be located at 4023-4073 Stanley Boulevard (PUD-95-06); and WHEREAS, the developer has requested a waiver of City building and growth management fees and deferred street improvement costs, estimated at approximately $880,000; and WHEREAS, the developer has agreed to an affordability package which will limit in perpetuity rents for eight units at the "very low income" (50% of median) level, 35 units at the "low income" (60% of median) level, and 43 units at the "moderate income" (80% of median) level; and WHEREAS, providing affordable housing for special needs groups such as senior citizens is a need which is expressed in the City's General Plan Housing Element and in the HUD Consolidated Planning Strategy; and WHEREAS, at its meeting of January 2, 1996, the City Council reviewed the report of the Housing Division (SR 95:401) regarding the request by Red Bear, Inc. for a waiver of City fees for the Stanley Senior Apartments project. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Council approves a waiver of City building and growth management fees and deferred street improvement costs estimated at approximately $880,000 as set forth on the attached Exhibit A. Section 2: Waived building fees (approximately $180,000) shall be reimbursed to the General Fund through the Lower Income Housing Fund.