sr-042281INFORMATION
T0: Mayor and City Council
FROM: City Staff
Santa Monica, California, April 22, 1981
SUBJECT: Existing Housing Authority Contracts -
Consideration for Exemption from Proposed Moratorium
To date, the City Council, acting as the Housing Authority, has approved two (2}
agreements to insure compliance with Ccastal Commission mandated inclusionary
housing requirements. A third agreement is agendized for the special Housing
Authority meeting scheduled for April 28, 1981. The three projects are as follows:
1. 3019 Third Street - The Housing Authority approved an agreement to insure
compliance with the inclusionary housing provisions on August 12,.1980. The
project consists of twelve (12) condominium units of which two (2) two-bedroom
units are to be sold to income eligible purchasers. The projected sales prices
are based on a formula of 2.5 times the median family income and 2.5 times 800
of the median family income for four (4} persons. The project was issued a
building permit on April 20, 1981.
2. One Pico Boulevard - 1815 Appian Way - The Housing Authority approved an
agreement to insure compliance with the inclusionary housing provisions on
December 9, 1980. The project consists of twenty (20) market rate condominium
units and twelve (12) rental units. All of the rental units are to be made
available to persons earning no more than 80o of the median family income.
Additionally, to the extent that Section 8 Existing Housing Assistance is
available, at least four (4) units shall be occupied by persons earning no
more than 500 of the median family income. Building permits have not been
issued for this project to date.
Mayor and City Council -2- April 22, 1981
3. 245 Ocean Park Boulevard - Housing Authority consideration of an agreement
to insure compliance with inclusionary housing provisions is scheduled for
April 28, 1981. The project consists of five (5) condominium units of which
one (i) two-bedroom unit would be sold to an income eligible household. The
actual sales price would be established at a level which would be affordable
to a household earning no more than 95q of the median income for a family
of four (4). Building permits have not been issued for this project.
Prepared by: John Hemer
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