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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: NOVEMBER 7, 2017 TITLE: APPROVE AN INCLUSIONARY HOUSING AGREEMENT WITH SHEA HOMES LIMITED PARTNERSHIP FOR A PROJECT TO BE LOCATED AT 2001 WEST MACARTHUR BOULEVARD, SANTA ANA, CALIFORNIA 92704 {STRATEGIC PLAN NO. 5, 3B} CLERK OF COUNCIL USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Ordinance on 1" Reading ❑ Ordinance on 2ntl Reading ❑ Implementing Resolution ❑ Set Public Hearing For CONTINUED TO ,..., FILE NUMBER MANAGER RECOMMENDED ACTION Authorize the City Manager and Clerk of the Council to execute an Inclusionary Housing Agreement with Shea Homes Limited Partnership, a California Limited Partnership, in an amount not to exceed $1,727,055, subject to non -substantive changes approved by the City Manager and City Attorney. COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION At their Regular Meeting on October 25, 2017, by a vote of 4:0 (De Leon, Ramos and Santana absent), the Community Redevelopment and Housing Commission recommended that the City Council authorize the City Manager and Clerk of the Council to execute an Inclusionary Housing Agreement with Shea Homes Limited Partnership, a California Limited Partnership, in an amount not to exceed $1,727,055. DISCUSSION The Housing Opportunity Ordinance ("Ordinance") encourages the development of affordable housing by requiring the inclusion of affordable units within developments that involve either an increase in the density otherwise available under applicable zoning and development standards; a change in land use designation from a zoning regulation that does not permit residential uses to one that does permit residential uses; or the conversion of rental units to condominium ownership. This ordinance applied to all projects entitled after November 2011. Developers have the option to pay an in -lieu fee based on the habitable square foot of the project to satisfy the Ordinance requirements. 2513-1