Reso 2827RESOU:nmw no. 2827 (17-U-83 Rev) 07/14/86
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II) APPrTcA NICK
Applitatioti No(S) 17-U-83 (Revised)
Applicant: Town Center B33Vrties/De Anza Ptaoerties
Property owner: Town Center pmoerties
rnratinn: East of Tbrre Avenue between Stevens
CCee]c Boulevard and Rodriaues Awwue
In)QW=CW TO BE ADMMnMW DEPARTMi2rP
1) MST RAT= HOUSING
The applicant aba11 participate in the City's Below Market Rate
(BW Housing Prow=6 required taxer condition 21 of Use permit
17-0-43 MAW). Hamomw, said Oxdition 21 is bexeby amwded to
alloit the applicant the optfat to fulfill the EHR p ti�,r�n
abiigatian in either of the follamirsl ways:
a) Provide the regaired ntsbe of actual bousirq units
b) Pay to the City of oapestfm an in -lien fee based on ons4ialf
the flee total resultttg fta application of the fallowing
*--!I- for the rental potion of the subject development:
Total Faes - [ (Ma. Units ¢ IM x (2ot rent - FM) x 12 no.
x 10 Yr) + E (No. L' MI ! 30VM of Median iwit)
x (Nuftt Sent - 3G%4M of Median rent) x 12 w.
x 10 Yr),
Tice OWAC0 sig tacit portion of the subject develcpmait shall be
subject to an 3n- 2iai fee based on the fntlowire fdrulla:
Pas Pet' Unit - Sales price - [ (Sq. Ft. x $70/sq. ft.) +
S", a700 Land Cost]
(Tile teis of the ft—Ia axe described in the Staff Report dated
July 14, 19")
If the fol io -1ecTs to pay the Blst in -lieu fee, the Planning
Dixo or shall retain the options to specify a graduated payment
Schedule not to esoead two (2) Years durations. Said graduated
p gmmt schedule, and all other t--- affecting the in -lieu
peayes nt, sda1.1 be embodied in a recorded agreement uihic h shall be
subject to prior appxvval by the C7ty Atraxlleq-
I7PZCtl TA. 2827 (17-ti-m Iwj 07/14/86
Ae"l3 r
$ 1 2) n= QMCOM!
All other awditimss of Caa Pamit 17-0-83 (Raw) , as cmittained. in
t� City �ir'G. IM � dated2., LUS d3all
€ remain in full focoe and etvac�_-.
{ PASS® AM ADW= this loth day of Jlsly, 1986, at a regular meeting of
p the Mmminq Coanissia: of the City of Q*fttino, State of Celitaxnis, by
the follzwlM roll call vobs:
AYES: CCENZ9mam; Adams, Claudy. MacKenzie, -and Chairman Szabo
_= NM: None
F` ABH49WCS C N None
ABBPHI'•r = Sorensen
ATMIST: AFMWVID:
/s/ Robert Cowan Isl Niebolas Szabo
AG1bert Omm Rkralas BOW, Cbaitean
Plamim DdTrGmt Pla=21M oadsairan 1
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