Subject
title
Approval of, and authorization of the City Manager to Execute the Moderately Priced Dwelling Unit Rental Program Agreement; and Approval of, and authorization of the City Manager to Execute the Declaration of Restrictive Covenants for Twinbrook Place between the Mayor and Council of Rockville and Twinard Limited Partnership, Subject to Approval as to Legal Form by the Acting City Attorney
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Department
Housing and Community Development
Recommendation
Staff recommend that the Mayor and Council approve and authorize the City Manager to execute the
Moderately Priced Dwelling Unit Rental Program Agreement and approve and authorize the City Manager to execute the Declaration of Restrictive Covenants between the Mayor and Council and Twinard Limited Partnership.
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 Moderately Priced Dwelling Unit (MPDU) program agreement that has been approved by the Mayor and Council and the City Attorney to the building permit application.
The attached MPDU Rental Program Agreement (Attachment A) is for Twinbrook Place Apartments. The applicant will be constructing 125 apartments, including 19 apartments designated as MPDUs. A substantially final version of the MPDU Rental 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.
Additionally, the building permit application must execute and record covenants. This is to assure that the restrictions included in Section 13.5-5 run with the land for the entire period of control and bind the applicant, any assignee, mortgagee, or buyer and all other parties that receive title to the property. The covenants are to be senior among the instruments for securing permanent financing. Staff and the City Attorney’s Office drafted the Declaration of Restrictive Covenants (Attachment B) for Twinard Limited Partnership.
Mayor and Council History
This item has not previously gone before the Mayor and Council.
Boards and Commissions Review
The Planning Commission approved Level 2 Site Plan Application STP 2024-00465, permitting, subject to certain conditions of approval and the development of the Twinbrook Place Project on April 24, 2024.
Next Steps
The Moderately Priced Dwelling Unit Rental Program Agreement and Declaration of Restrictive Covenants between the Mayor and Council and Twinard Limited Partnership will be finalized for execution by all parties.