City Council

8.\nAffordable Housing Agreement for Heritage on White. MW Investment Group, LLC received\nPlanning Commission approval for Tract Map No. 83278, a condominium conversion project at\n2467 First Street that converts an existing 17-unit apartment complex into individually owned\ncondominiums subject to final City Council approval. To comply with the affordable housing\nrequirements of the Old Town La Verne Specific Plan, the applicant has agreed to restrict three\nunits as affordable ownership housing for 45 years through an Affordable Housing Agreement\nthat establishes affordability, eligibility, resale, and compliance requirements.\nRecommendation: That the City Council:\n1. Approve the Affordable Housing Agreement between the City of La Verne and MW\nInvestment Group, LLC for Tract Map No. 83278; and\n2. Authorize the City Manager to execute the Agreement in a form approved by the City\nAttorney.\nDISCUSSION CALENDAR