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MEMORANDUM
Item 19

Date: May 11, 2004

To: Mayor and Council Members

From: Howard Sword, Economic Development Director

Subject: Affordable Housing Agreement, Western Pacific Homes, Pinnacle Place Subdivision at Apricot Way and “C” Street

Section 17.725.005 “Implementation Procedures” Section “A” of Ordinance 756 states: “... The affordability agreement shall be prepared by the City Manager or designee, City Attorney and developer, considered for approval by the City Council Housing Committee, and forwarded to the City Council as an information item…”

At its meeting of April 15, 2004 the Housing Subcommittee approved the Affordable Housing Agreement with Western Pacific Homes for the Pinnacle Place subdivision.

The requirement per the City Ordinance is 4 units of affordable housing. The developer has agreed to meet the requirements of Ordinance 756 by constructing one duet unit and dedicating it to the City for its rental program. The Ordinance allows for a 2 for 1 credit for those units dedicated to the City rental program.

The duet unit shall contain one three-bedroom unit and one four-bedroom unit.

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