City Council

9. Affordable Housing Regulatory Agreement with Watermark DM, L.P., an\nArizona Limited Partnership, for the Watermark Del Mar Multi-unit\nResidential Development at 2250 San Dieguito Drive (APN: 299-100-51-00)\nRecommended Action: Staff recommends the City Council adopt a Resolution\n(Attachment A) authorizing the City Manager to execute an Affordable Housing\nRegulatory Agreement (Regulatory Agreement) (Exhibit A to Attachment A) with\nWatermark DM, L.P., an Arizona limited partnership (Developer), restricting 10 of\nthe 50 units in the approved Watermark Del Mar Project (Development) as long-\nterm affordable housing.\nReference: Clerk’s File No. 303-1