HomeMy WebLinkAboutRESO 5975• • .ORIGINAL
RESOLUTION NO~ 5975
RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO
AUTHORIZING STAFF TO AMEND SUBDIVISION AGREEMENT
ALLOWING SUBSTITUTION OF OFF-SITE BELOW-MARKET-RATE
UNIT FOR CEDAR TERRACB UNIT
WHEREAS, on March 11, 1980, a Subdivision Agreement was executed
between the City and Environmental Concepts, Inc. (rDeveloper") requir-
ing the Developer to provide one Below-Market-Rate ("BMR") unit of the
twelve condominium units to be built at Cetlar Terrace, 433-445 Homer
Avenue: and
WHEREAS, the BMR unit to be provided was to be a two-bedroom unit
pr.iced at $45,000: and
WHEREAS, the Developer approached the City regarding the possibil-
ity of substituting an off-site BMR unit at Oregon Green ( 2 360 West
Bayshore f 8} for the agreed upon BMR unit at Cedar Terrace; and
WHEREAS, such BMR unit at Oregon Green would be a two-bedroom unit
priced at $45,000; and
WHEREAS, the City's Planning staff finds that there are compelling
reasons, set forth in the attached staff report (CMR:539: 1), why the
City should approve the proposed substitutionr and
WHEREAS, the substitution would require the amendment by staff of
the existing Subaivision Agreement;
NOW, THEREFORE, the Council of the City of Pal0 Alto does RESOLVE
as follows:
SECTION 1. City staff is authorized to make the necessary amend-
ments to the Subdivision Agreement between the City and Environmental
Concepts, Inc. to allow the substitution of the Oregon Green BMR unit
for the Cedar Terrace BMR unit.
INTRODUCED AND PASSED: December 7, 1981
AYES: Bechtel, Fazzino, Fletcher, Henderson, Klein, Levy, Renzel
NOES: Eyerly, Witherspoon
ABSTENTIONS: None
ABSENT: None
APPROVED: