U-1986-36b& Citq of Cuperthio
10300 Torre Avenue
Cupertino, California 95014
Telephone: (4001 252.4505
Of PARTMENT OF THE CITY CLERK
May 5, 1988
John Vidovich
DeAnza Properties
1307 S. Mary Avenue
Sunnyvale, CA 94087
P.O. Box 580
Cuper[Ina, California 95015
Zhis will confirm the action by the City Council at their meeting of May
2, 1988 at which Resolution No. 7492 providing for optional methods to
satisfy EMR housing program participation requirements for Chateau
Cupertino was adopted. A copy of the resolution is enclosed for your
information.
Sincerely,
DORDIHY CoMaa US, CMC
CITY CLERK
cc: Department of Planning, and Development
RESOLUTION No.7492
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF CUPERTINO
PROVIDING FOR OPTIONAL METHODS TO SATISFY BMR HOUSING
PROGRAM PARTICIPATION REQUIREMENTS AFFECTING THE
DEVELOPMENT KNOWN AS CHATEAU CUPERTINO
APPROVED UNDER 21-Z-87 AND 17-U-83 (REV.)
WHEREAS, The developer of said project is obligated to participate
in the BMR program, and to discharge that obligation prior to issuance
of occupancy permits for said project.
NOW, THEREFORE, BE IT RESOLVED that the developer may satisfy his BMR
participation obligation in the following ways:
1) File necessary documents obligating 17 dwelling units to the BMR
program
2) Pay the entire in -lieu fee immediately, -adjusted for the present
value of money, equaling $77,620.
3) Provide a letter of credit or deed restriction ensuring full
payment of the undiscounted fee over the aforementioned three year
period.
PASSED AND ADOPTED at a regular meeting of the City Council of the City
of Cupertino this 2nd Day of May, 1988 by the following vote:
Vote Members of the City Council
.AYES: Johnson, Plungy, Rogers, Gatto
NOES: None
ABSENT: None
ABSTAIN: Koppel
ATTEST: APPROVED:
/s/ DorothYl o n liue /sl John M. Cattn
Dorothy Cornelius, City Clerk John H. Gatto, Mayor
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