REPORT TO COUNCIL
SUBJECT
Title
Actions on a Density Bonus Agreement (DBA) with Santa Clara Pacific Associates to Allow a Multifamily Housing Development with 198 Affordable Rental Units at 80 Saratoga Avenue and Delegation of Authority to the City Manager to Negotiate and Execute Future DBAs in Accordance with Santa Clara City Code Section 18.78.060.
Report
COUNCIL PILLAR
Promote and Enhance Economic, Housing and Transportation Development.
BACKGROUND
Santa Clara Pacific Associates (Owner/Developer) is proposing to construct a 100% affordable housing project with two hundred (200) units located at 80 Saratoga Avenue (Project). On September 14, 2022, an architectural review of the Project's six-story mixed-use development was approved at the Development Review Hearing.
The project is a 100 percent affordable housing development with 200 dwelling units which will include four floor plans types consisting of studios, one-, two- and three-bedroom units ranging from 416 square feet to 1,047 square feet in size. Affordability is determined based on the ability of households to pay rent depending upon household income level as a percentage of the average median income (AMI) for the County, with adjustments made for household size. Of the units, 198 units are to be provided to low income households earning no more than 80% of the AMI, and two are unrestricted on-site resident manager units.
As a condition of the land use entitlements and per the City's Affordable Housing Ordinance's (AHO) affordable housing requirements, a share of all newly constructed dwelling units in residential developments of ten (10) or more units must provide at least fifteen percent (15%) of the units at affordable housing costs made available at affordable rental prices to for extremely low, very low, low and moderate income households as long as the distribution of affordable units averages to a maximum of one hundred percent (100%) of area median income. The Developer is required to e...
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