Subject
title
Approval of MPDU Program Agreement for Sale Units - Flats at Northside Phase 1, and Authorization for City Manager to Execute MPDU Homeownership Program Agreement between the Mayor and Council and Pulte Home Company, LLC, Subject to Approval as to Legal Form by the City Attorney.
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Department
Housing and Community Development
Recommendation
Staff recommends that the Mayor and Council approve the attached Moderately Priced Dwelling Unit (MPDU) Homeownership Program Agreement between the Mayor and Council and Pulte Home Company LLC (Pulte), and authorize the City Manager to execute the agreement, subject to approval as to legal form by the City Attorney.
Discussion
Per Section 13.5-5(a) of the City Code on Moderately Priced Housing, prior to obtaining a building permit, an applicant must submit a written MPDU program agreement that has been approved by the Mayor and Council and the City Attorney to the building permit application. A substantially final version of the MPDU Homeownership Program Agreement is attached, ready for the Mayor and Council to approve and to authorize the City Manager to execute on the Mayor and Council’s behalf.
The attached MPDU Homeownership Program Agreement (Attachment A) is for the first phase of the Flats at Northside, located on Lot 125. During the first phase, Pulte will be constructing one (1) six (6) story building on Lot 125. During phase 2, Pulte will be constructing one (1) six (6) story building on Lot 126 (which will require a separate MPDU program agreement). Both of the buildings will consist of five (5) stories over one (1) level of garage parking. Lot 125 will contain 47 residential units, including seven (7) MPDUs, and Lot 126 will contain 48 residential units, including eight (8) MPDUs. Pulte has closed on the sale of Lot 125 but does not yet own Lot 126. Once Pulte acquires Lot 126, it will be required to submit an approved MPDU program agreement to the City prior to obtaining a building permit for Lot 126.
Next Steps
The MPDU Homeownership Program Agreement between the Mayor and Council and Pulte Home Company, LLC for Flats at Northside Phase 1 will be finalized for execution by all parties.