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ATTACHMENT 8 THE CITY OF _ Housing Commission _• Agenda Report I .atsl I 111 _ pLEASANTONO April 16, 2015 Item 09 SUBJECT: Review of a Revised Affordable Housing Plan for SummerHill Development (5850 West Las Positas Boulevard) STAFF RECOMMENDATION: Approve the SummerHill Affordable Housing Agreement (Attachment 1) ATTACHMENTS: 1. Recommended Affordable Housing Agreement 2. February 19, 2014 Housing Commission Agenda Report 3. Development Conceptual Landscape Plan Identifying Location of Affordable Units 4. Current Area Median Income Annual Rent and Income Limits 5. Sample Restrictive Covenants, Resale Restrictions, and Option to Designate Eligible Purchaser Agreement 6. City Preference System BACKGROUND In February 2014, your Commission approved an affordable housing agreement with SHAC Las Positas Apartments LLC (Summerhill), for a 177- unit rental development to include a total of 27 affordable apartment units. That agenda report is included as Attachment 2 to this report. Since that time, the developer has reassessed its development plans and has submitted a new Planned Unit Development (PUD) application for the development of the same 5.9-acre site at 5805 West Las Positas Boulevard to include a 94-unit townhome condominium ownership development in lieu of the 177- unit apartment development. Because the proposed development exceeds 15 living units, it is subject to the,City's Inclusionary Zoning Ordinance (IZO) requiring an affordable housing agreement. As indicated in Attachment 2, the subject 5.9 acre site, and the adjoining 6.7 acre site to the east, is collectively referred to as Site #9 of the City's Design Guidelines. The site was rezoned in 2012 for high density multifamily as part of the City's Housing Element update. The existing development fronts West Las Positas Boulevard to the north and the Arroyo Mocho to the south. This development is being proposed for the 5.9 acre portion of the site. Page - 1 -