...Title
Revisions to Affordability Restriction for the Paseo Senter Family Housing Project (Phases I and II) Following Parcel Subdivision and Legal Description Updates.
...Recommendations
Adopt a resolution authorizing the Housing Director, or his designee, to negotiate and execute an amendment to the existing Agreement Regarding the Implementation of Health and Safety Code Section 33413(b)(2) (“Restrictions”), for the Paseo Senter Family Housing Project to:
(a) Reflect the subdivision of the original Project parcel into Phase I and Phase II parcels;
(b) Correct and update the legal descriptions of the affected parcels;
(c) Allocate affordability and related regulatory obligations to the appropriate subdivided parcels consistent with their respective phases;
(d) Update ownership structure to reflect current or successor owners, including PSI Rehab, LP and PSII Rehab, LP, as applicable; and
(e) Execute and record all ancillary documents and take all actions necessary to implement the updates to the Restrictions.
CEQA: Mitigated Negative Declaration for the Paseo Center at Coyote Creek Project, File Nos. PDC03-057 and PD04-084. Council District 7. (Housing)