...Title
Multifamily Housing Incentive Program Residential Tax and Fee Waiver for the El Paseo de Saratoga Development Located at 1777 Saratoga Avenue.
...Recommendations
(a) Conduct a public hearing to approve an economic development tax and fee waiver in connection with a reduction in construction taxes and a reduction of the Inclusionary Housing Ordinance in-lieu fee for El Paseo de Saratoga at 1777 Saratoga Avenue, which meets the requirements of the Multifamily Housing Incentive Program enacted by City Council on December 10, 2024 and extended on May 13, 2025 and January 27, 2026, in an amount of up to $3,693,404 pursuant to California Government Code Section 53083 and Open Government Resolution No. RES2024-99 Section 2.3.2.6.C.
(b) Adopt a resolution approving the tax and fee waiver and authorizing the Housing Director, or his designee, to negotiate and execute documents and document amendments related to implementing the Multifamily Housing Incentive Program, such as construction progress agreements.
CEQA: Addendum to the 1312 El Paseo and 1777 Saratoga Avenue Mixed-Use Village Project Final Environmental Impact Report (Resolution No. 80605), File Nos. PDA20-006-01 and ER23-267. Council District 1. (Housing/Planning, Building, and Code Enforcement/Transportation)