CC Resolution No. 6576 RESOLUTION NO. 6576
A RE50LUTION OF THE CITY COUNCIL OF THE
CITY OF CUPERTINO APPROVIN6 THE PflYMENT
OF A FEE IN LIEU OF PftDVIDIN6 SIX BELOW
MflRKET RATE UNITS
WHEREAS, the applicant has constructed a b7-unit
condominium project9 and
WHEREAS, the applicant is required to provide six units
priced at below market rates in the above project; and
WHEREAS, the @elow Market Rate (HMR? Program Procedural
Manual permits a developer to pay a fee in lieu o4 providing BMR
unitsg and
WHEREAS, the applicant has requested approval tv pay the
above in-lieu fee.
NOW, THEREFORE~ BE IT RESOLVED that the City Council
hereby finds it would be a hardship 4or the applicant ta provide
HMR units in the subject development; and,
PE IT FURTHER RESOLVED that the City Cvuncil hereby
approves the applicant's request to pay a fee in lieu of
providing six HMR units. The fee shall be ~~~,OpO per HMR unit
waived.
PASSED AND ADOPTED at a regular meeting of the City
Council of the City of Cupertino this 2nd day of Julyr 1985 by
the following vote:
Vote Members_of_the_City_Cauncil
flYES: Gatto, Plungy, Sparks, Johnson
NOES: None
AB5ENT: Rogers
A9STAIN: None
APPROVED:
/s/ Phil N. Johnson
Mayor, City of Cupertinv
ATTE5T:
/s/ Dorothy Cornelius
City Clerk