Title
MIDDLE INCOME / WORKFORCE HOUSING REQUEST FOR THE ASPECT APARTMENT PROJECT
Summary
Council Member Zahra, supported by Council Member Silva, requested that City Council consider a Middle Income / Workforce Housing project for those who earn between 80% to 120% of the Area Median Income. A development group and the California Statewide Communities Development Authority present a project for Aspect Apartments located at 251 Orangefair Avenue for consideration.
Recommendation
Recommendation:
City Council consider the Aspect Middle Income / Workforce Housing project and direct staff to either:
1. Not authorize the proposed request.
2. Authorize the request and:
A. Adopt Resolution No. 2021-XX.
RESOLUTION NO. 2021-XX - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FULLERTON, CALIFORNIA, APPROVING, AUTHORIZING, AND DIRECTING EXECUTION OF JOINT EXERCISE OF POWERS AGREEMENT RELATING TO THE CSCDA COMMUNITY IMPROVEMENT AUTHORITY, AND THE FORM OF A PUBLIC BENEFIT AGREEMENT, AND APPROVING THE ISSUANCE OF REVENUE BONDS BY THE AUTHORITY FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION OR IMPROVEMENT OF THE ASPECT PROJECT
B. Direct City Manager to enter into Public Benefit Agreements with the Agency which may result in the City receiving surplus revenue from future sale of the Project.
C. Direct City Manager to execute related documents and take any additional actions required to implement the Middle-Income Housing Program.
D. Determe that this action is not subject to the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Sections 15060(c)(2) and 15060(c)(3), because it will not result in a direct or reasonably foreseeable indirect physical change in the environment and is not a "project" pursuant to Section 15378(b)(5) of the State CEQA Guidelines.
Or
3. Continue this agenda item if City Council requires additional information before making a determination.