Laserfiche WebLink
the grant will receive information indicating that the grant has aone-year term and may <br />not be renewed in subsequent years. These steps should help the program be viewed <br />positively as an annual benefit rather then a fixed reduced rent payment that can be <br />eliminated. <br />As an alternative to the above, the Commission could simply require the payment of the <br />lower income housing fee estimated at $234, 825. However, this plan not only provides <br />a fee payment in excess of the required amount but also assures that affordable units <br />will be provided. As a result the recommended alternative best meets the goal of <br />increasing affordability and a cost efficient manner. <br />Fiscal Review: <br />`~ <br />-~; 1 <br />David P. Culver <br />Director of Finance <br />Submitted and Approved by: <br />~iC~~ <br />Steven Bocian <br />Acting City Manager <br />Attachments: <br />Attachment 1-Affordable Housing Agreement with Ponderosa Homes for the Lehman/Selway <br />Development <br />Attachment 2- Amendment #2 to the Affordable Housing Agreement for the Busch Property <br />Attachment 3 -March 15, 2007 Excerpt Minutes from the Housing Commission Subject to Approval <br />Attachment 3 -Inclusionary Zoning Ordinance <br />Page 4 of 4 <br />