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Home My WebLink About2008-062 RESOLUTION NO. 2008-062 am RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ATASCADERO, CALIFORNIA APPROVING AFFORDABLE HOUSING FUNDS POLICY (City of Atascadero) WHEREAS, the City of Atascadero has an Inclusionary Housing Policy for all developments requiring a legislative approval, which includes provisions for m-lieu fees to be applied to future affordable housing; and, WHEREAS, the City of Atascadero Redevelopment Agency (RDA) sets aside the state required sum of 20 percent of the tax increment, commonly referred to as RDA set-aside funds for affordable housing; and, WHEREAS, the Atascadero General Plan provides policy direction in support of programs that help meet the City Regional Housing Needs Allocation, earmark redevelopment agency funds for housing projects; and use redevelopment agency funds to leverage State and federal funds to assist in the production of affordable housing; and, WHEREAS, the City of Atascadero held three separate public outreach meetings to discuss affordable issues and develop an affordable housing funds policy; and, am NOW THEREFORE, the City Council of the City of Atascadero, hereby resolves to approve the Affordable Housing Funds Policy, attached hereto as Exhibit A, which includes an attached Affordable Housing Participation Checklist. On motion by Council Member O'Malley, and seconded by Council Member Clay,the foregoing resolution is hereby adopted in its entirety by the following roll call vote: am City of Atascadero Resolution No. 2008-062 Page 2 of 5 AYES Council Members Beraud, Clay, Luna, O'Malley and Mayor Brennler NOES None ABSTAIN None ABSENT None ADOPTED October 28,2008 CITY OF AT`—AS-(MDERO Mike Brennler Mayor ATTEST )� I w,� y�f Marcia McClure Torgerson, C.M.C. City Clerk QM APPROVED AST ORM. Brian Pierik City Attorney am City of Atascadero Resolution No. 2008-062 Page 3 of 5 EXHIBIT A: Affordable Housing Funds Policy acct Affordable Housing Funds Policy It is the goal of the City that there be an adequate supply of quality housing for its residents regardless of income levels and/or special needs over the long term To achieve this goal, the City will consider assisting affordable housing projects based upon a number of factors. Chief among those factors is projects located within the Redevelopment Agency Project Area, affordable housing projects with a commercial retail component, and the return on investment made by the City or Agency In addition to considering the cost per unit, depth of affordability and length of affordability, at least the principal amount of any investment should be returned to the City or Agency in a timely manner This will help to ensure that adequate funds are available to maximize affordable housing opportunities over the long term Goal. Promote an adequate supply of quality housing regardless of income levels and/or special needs of residents, and ensure that adequate funds are available to maximize affordable housing opportunities over the long term Policy 1.1. City and Agency will consider assisting affordable housing projects based upon a number of factors including projects located within the WON Redevelopment Agency Project Area, affordable housing projects with a commercial retail component, and the return on investment made by the City or Agency Policy 1.2. City and Agency will use the Affordable Housing Project Ranking Checklist to evaluate proposed affordable housing projects and assistance requests Policy 1.3. City and Agency's highest priority will be to utilize Redevelopment Agency Housing Set-Aside Fund and City Affordable Housing In-Lieu Fund monies to provide "gap funding" so as to leverage funds from other sources for qualifying affordable housing projects. Policy 1.4. At a minimum, the principal sum of any investment made by the City or Agency on an affordable housing project shall be recovered within a prescribed period of time Policy 1.5. At all times the City and the Agency shall obtain the principle amount loaned to a project. Projects that provide an additional return on investment will be given higher priority Policy 1.6. The City and Agency shall consider the experience, the timing, and the readiness of the proponent and proposed project. NO. City of Atascadero Resolution No. 2008-062 Page 4 of 5 Policy 1.7. The City and Agency shall make neighborhood compatibility, adherence to zoning requirements, environmental suitability of the site, and neighborhood acceptance principal considerations when evaluating the suitability of any proposed affordable housing project. Policy 1.8. The City and Agency shall make green build practices, building appearance, and landscape principal considerations when evaluating the suitability of any proposed quality affordable housing project. Policy 1.9. The City and Agency shall consider the type of affordable housing project being proposed such as very low/low/moderate income, rental or ownership product, size and variety of units Policy 1.10: The City and Agency shall give higher priority to projects with a lower cost per unit. Policy 1.11. The City and Agency will consider the location and commercial component of a proposed project, and give higher priority to projects located in the downtown area and the Redevelopment Project Area Policy 1.12: The City and Agency shall obtain the longest possible term of affordability for assisted projects At a minimum 45 years for home ownership units, and 55 years for rental units. Policy 1.13. The City and Agency shall encourage a wide range of partnerships between nonprofit corporations and private developers of affordable housing that are located within San Luis Obispo County Policy 1.14. The City and Agency shall use the San Luis Obispo County Council of Governments Regional Housing Needs Allocation Plan (RHNA) Scale as a guideline for the percentage of income targeting housing units that should be developed Exhibit A. Affordable Housing Project Ranking Checklist (post Matrix) +rr.r City of Atascadero Resolution No.2008-062 Page 5 of 5 EXHIBIT A: Affordable Housing Participation Checklist(Exhibit A Attachment) City of Atascadero - Affordable Housing Participation Checklist organization Name: Cate: Project Name: :uttldcl ?ersun Pruiecl Type: Irl---l1 Phone: flex:tAitxton L�1 Email Address: P.ehablita5on Application Number: Is this an update to an existing checklist? 0 Instructions:Please insert the appropriate number of points in the"Points'column.Czcept where there is a range of points offered,there is no gradunted Point asuwtarce rm less Until full t:orapl UMV.In adtiUun to that adninurn Opeonal points,all projects nwsl meet the applicable maaddlut y recluitentents. Optional Points 2 oints Encouraged Points 4 points High Priority Paints 10 points Mandatory Points 18 oolnits, Criteria IDeacription lRequirernent Type Points Section -ProiRrMuMing 1-i rurding Leveraged Aro thare funds from other zource3l ri0s-opk,/039S-9 pa,>itrt up. 10 1-2 Frinci a Sum Public Invesinent -Will principal stat be recovered in specified!me" 18 1-4 Foitm cn'ln%,odmont Win there to a m2ronabls ratum on investmont? 4 1-5 Cost Per l.nit WwerC ty cast per unit given higher pnorr7 *B.M0 IUpts,So,Luo4u,1K=a M FW,1ut- f0,0)0=674x.$67,Oi7-36,000=4 t,389,901-IQ),000 1U =2 01s,>3199000=)ps SUBTOTAL tf0 Section 2-Site,Location,and Nei rhood Consistency 2-1 hei3h5orhood concaability Coes the wolect ft the neiahbxhood' 4 2-2?dbewimu Zuifloq Requimmerls Caen+the pvjud follow C3eneral Plan 1-crtai5iLmy? 4 2-3 Environmental Suta3iiy Arothare no signilicantenvsontentai ssues? '- 2-4 heigh�orhood Acceptance Cues he rreighburhlud sipwt?ineAghlxr huuj nree6rg 4 required) 2 5 Grecn Dovclopmcnl Pian Ic the project LEED certifiod? 4 2-6 EuiidngAppeararce Coes,Droiectorovidehiahauaitvaichitecture? 4 2-7 Lardscape Coes project provide high qua Ity landscape? ?-R rninmarrial rrmpnnait Prngct inc0rrias mixed ime5 to 2-9 Downmwn Site Pro act in downtown zcne? 10 2-10 Lccated in RDA Project Area Pro.ect in the Redevelopne nt Pr:ject Area? 10 SUBTOTAL 54 Section 3-Affordability 0-1 fiery,Low Income Per-entage very low inSOme unit? 00%-5*,10-30S=10pts,>30% Spills 18 Low income Per: ntage vary low in-omo unit,? 3nt"30-- ter¢ 10 r3 Modefats incxme Will there to any Moderate ncone? 4 :-4 Dental Lni:3'roject Coes project include rental units° -50)6 Cpts,c0,3% 5.t -7A t,pu 10 3-5 hunter of unitsldansity Is Project at naximun Generl Plan dense}^ 4 r5'•adet+t of Un Siza Is there a mss of unit sizea�sdmoms?(rein 2?%o1 unds) SUBTOTAL Section 4 Term of Affordability 1 Ownc—Oip Uvtb Doed Restic-ion Tam 45;roar term roquircd 18 c-2 Rental Lne Deed Restriction Tetm 55 year term required Pro3o,irg.o iced resticl a:lease 10 years mere than 45155 4 3 Pdditlonal Tine Ras:r cticn y.ar34 SUBTOTAL 22 Section -Proponent t Partnerships 5-1 Lecal Non-profl7FJr Pions Is project a 5-t,Counti nor-[roan invoked In me project? 10 5-2 Local Pnooner^ Is project proponent located in SLC Count/?— Is ountRIs dev;loper expermed In effordable hcusing I good 10 5-3 E:nerence of Fro7onent vrtlences? 54 Frolect Timing b stead ness Are DrDiect entillemetts aprroved? 4 SUBTOTAL 26 Percentage of Points Received= 1000% Point Scored 200 Out of Total Points 200