...Title
Multifamily Housing Incentive Program Residential Tax and Fee Waiver for the Development Project Located at 3896 Stevens Creek Blvd.
...Recommendations
(a) Conduct a public hearing to consider for approval an economic development tax and fee waiver of the Inclusionary Housing Ordinance in-lieu fee and a reduction in construction taxes in an amount of up to $6,934,618 for Phase 1 of the residential development located at 3896 Stevens Creek Blvd, which meets the requirements of the Multifamily Housing Incentive Program, 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 in an amount up to $6,934,618 for Phase 1 of the 3896 Stevens Creek Blvd residential development and authorizing the Housing Director, or their 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 3896 Stevens Creek Boulevard Project Environmental Impact Report (Resolution No. 79922), File Nos. MP25-003 and ER25-024. Council District 1. (Housing/Planning, Building, and Code Enforcement/Transportation)