...Title
Approval of a Multifamily Housing Incentive Program Residential Tax and Fee Waiver for 905 North Capitol 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 905 North Capitol Avenue which meets the requirements of the Multifamily Housing Incentive Program enacted by the City Council on December 10, 2024 in an amount of up to $4,905,022 to California Government Code Section 53083 and Open Government Resolution No. 77135 Section 2.3.2.6.C.
(b) Adopt a resolution approving the tax and fee waiver and authorizing the Director of Housing or his designee to negotiate and execute documents and document amendments related to implementing the Multifamily Housing Incentive Program, such as project completion agreements.
CEQA: Determination of Consistency with the Mitigated Negative Declaration for the 905 North Capitol Residential Development Project, File Nos. H21-015/ER21-061. Council District 4. (Housing/Transportation/Planning, Building, and Code Enforcement)