City Council

No. 2026-03 – WatermarkeSandpointe Mixed-UseDevelopment (200 EastSandpointe Ave.)Department(s): Planningand Building Agency,Community DevelopmentAgencyRecommended Action: 1.Adopt a resolutionapproving Density BonusAgreement No. 2026-03;andRESOLUTION NO. 2026-XXX entitled ARESOLUTION OF THECITY COUNCIL OF THEAPPROVING DENSITYBONUS AGREEMENT NO.2026-03 FOR A MIXED-USE DEVELOPMENTWITH 400 UNITRESIDENTIAL UNITS,INCLUDING 20 UNITSPROPOSED ASAFFORDABLE TOEXTREMELY LOW-INCOME HOUSEHOLDS,AND 13,887 SQUAREFEET OF COMMERCIALSPACE FOR THEPROPERTY LOCATED AT200 EAST SANDPOINTEAVENUE (APNS: 411-111-07, 411-111-09, 411-111-10,AND 411-111-11)2. Authorize the CityManager to execute aDensity Bonus Agreementwith CM Sandpointe, LLC,GH Sandpointe LLC, VMTSandpointe LLC, and QCSandpointe LLC, with a 55-year covenant term, for arental residentialdevelopment consisting of a400 unit multi-familyresidential development,including 20 affordable units(5% of the total units)proposed as affordable toextremely low-incomehouseholds, at the propertylocated at 200 EastSandpointe Avenue(Agreement No. A-2026-XXX); and3. Determine that, pursuantto the CaliforniaEnvironmental Quality Act(CEQA) and the CEQAGuidelines, therecommended action(below) is exempt fromfurther review underSections 15183 and 15162.