Title
Affordable Housing Expansion at 460 North Shoreline Boulevard and Funding Appropriation.
Recommended Action
1. Adopt an Initial Study/Negative Declaration for the Shorebreeze Apartments Project pursuant to the California Environmental Quality Act (Attachment 1 to the Council report).
2. Adopt an Environmental Assessment/Finding of No Significant Impacts pursuant to the National Environmental Policy Act (Attachment 2 to the Council report).
3. Adopt a Resolution Approving Amendments to the P-5 (460 Shoreline Boulevard) Precise Plan, to be read in title only, further reading waived (Attachment 3 to the Council report).
4. Adopt a Resolution Conditionally Approving a Planned Community Permit and Development Review Permit to Construct 62 Affordable Units to Replace 12 Existing Affordable Units at an Existing Affordable Housing Community (Shorebreeze Apartments), and a Heritage Tree Removal Permit to Remove 22 Heritage Trees at 460 North Shoreline Boulevard, to be read in title only, further reading waived (Attachment 4 to the Council report).
5. Adopt a Resolution Conditionally Approving a Preliminary Parcel Map to Merge Five Lots into One 3.4-Acre Lot at 460 North Shoreline Boulevard, to be read in title only, further reading waived (Attachment 5 to the Council report).
6. Appropriate $7.32 million in Housing Impact funds for MidPen Housing’s affordable apartment expansion. Of the $7.32 million, $500,000 will be used for predevelopment funding. (Five votes required)
7. Authorize the City Manager or his designee to negotiate the loan terms, and execute a funding commitment letter, loan agreement, and related loan documents for the Housing Impact funds.