REQUEST FOR CITY COUNCIL ACTION
DATE: 08/07/2024
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT:
Title
AFFORDABLE HOUSING DENSITY BONUS AGREEMENT 2023-0002 FOR A MULTI-FAMILY RESIDENTIAL HOUSING DEVELOPMENT CONSISTING OF 115 UNITS ON 3.46 ACRES LOCATED AT THE SOUTHWEST CORNER OF 2ND STREET AND BUENA VISTA AVENUE IN THE R3 ZONE (APN: 118-270-051, 118-270-053 AND 118-270-055) (APPLICANT: SECOND STREET FAMILY, LP)
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EXECUTIVE SUMMARY:
This staff report asks the City Council to approve Affordable Housing Density Bonus Agreement 2023-0002 (AHDB2023-0002) for the development of 115 multiple family residential apartments that will provide housing for low and moderate income households. AHDB2023-0002 will allow certain waivers from the city's development standards to accommodate the development of affordable housing units. The development will set aside 91 units for low income households, 23 units for moderate income households, and one onsite manager's unit.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Adopt the Mitigated Negative Declaration with the Mitigation Monitoring and Reporting Program and approve Affordable Housing Density Bonus Agreement 2023-0002 as recommended by the Planning and Housing Commission.
b. Authorize the City Manager to execute the Affordable Housing Density Bonus Agreement between the City of Corona and Second Street Family, LP.
c. Notwithstanding Corona Municipal Code Section 17.87.090, direct the Affordable Housing Density Bonus Agreement to be recorded in the Official Records of the County of Riverside upon the close of escrow for the acquisition of the Property by Second Street Family, LP.
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BACKGROUND & HISTORY:
The project is an affordable housing development and meets the definition of an affordable housing unit according to the city's Density Bonus Housing Agreement outlined in Chapter 17.87 of the Corona Municipal Code (CMC) and State ...
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