HomeMy WebLinkAboutRESO 9794DocuSign Envelope ID: 2289F86D-C384-4ACC-951C-7EDC7982379E
Resolution No. 9794
Resolution of the Council of the City of Palo Alto
Authorizing the City Manager or Designee to Execute an Agreement
Deferring Affordable Housing In-Lieu Fees for 567 Maybell
RECITALS
A. Golden Gate Homes, LLC, ("Developer'') is the owner of that certain tract of land
situated in the City of Palo Alto, County of Santa Clara, State of California, generally known and
described as 567 Maybell, Palo Alto, California (the "Property"); and
B. On or about June 28, 2017 and August 24, 2017, City approved Developer's
application(s) for Tentative Map and Architectural Review, respectively, subject to conditions of
approval including the payment of development impact fees and/or in-lieu fees under Chapter
16.64 of the Palo Alto Municipal Code ("PAMC"). . .
C. On or about October 15, 2018, City Manager approved Developer's request to
defer payment of development impact fees and the Parties executed the AGREEMENT.
D. Pursuant to PAMC Section 16.65.060, below market rate housing in-lieu fees
must be paid prior to issuance of any building permit for a development project, unless
otherwise specified by City Council ordinance or resolution.
E. Developer has requested that the time of payment for below market rate
housing in-lieu fees be deferred until the date a final occupancy permit is issued.
NOW, THEREFORE, the Council of the City of Palo Alto does RESOLVE as follows:
SECTION 1. The City Manager is hereby authorized to execute an agreement
deferring below market rate housing in-lieu fees for Approval of Architectural Review
application 15PLN-00248 and the Tentative Map approved by Record of Land Use Action No.
2016-4. Ten percent (10%) of the below market rate housing in-lieu fees shall be paid prior to
issuance of a building permit; the remainder shall be deferred to the date of final occupancy
approval for the first completed unit of the project. The deferred fees shall be calculated at the
rates in effect at the time of payment; in addition, the amount due shall be increased by four
percent (4%), compounded annually, for each year that the fees are deferred.
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Envelope Sent Hashed/Encrypted 10/26/20181:44:47 PM
Certified Delivered Security Checked 10/28/2018 9:33:27 PM
Signing Complete Security Checked 10/28/2018 9:33:33 PM
Completed Security Checked 10/28/2018 9:33:33 PM
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