City Council

12. PUBLIC HEARING - ORDINANCE APPROVING AMENDMENT 1 TO DEVELOPMENT\nAGREEMENT NO. DA-20-1, TO ALLOW THE TRANSFER AND ASSIGNMENT TO\nTHE NEWLY-FORMED TAX CREDIT PARTNERSHIP CREATED FOR ORCHARD\nVIEW GARDENS SENIOR HOUSING PROJECT, AND MORE ACCURATELY\nDESCRIBE THE NEWLY-FORMED PARCEL AND RELEASE THE ADJACENT\nCHURCH PARCEL LOCATED AT 8300 VALLEY VIEW STREET FROM THE\nAGREEMENT\nPresented by Swati Meshram, PhD, AICP, Planning Manager\nPurpose: Consider an amendment to a previously approved Development Agreement to\namend items pertaining to the ownership structure, assignment, parcel number, and\nother non-development related terms (Orchard View Gardens Senior Housing) located\nat 8520, 8260, 8270, 8280 and 8300 Valley View Street/APN: 069-283-25. There is no\nbudget impact associated with this amendment.\nRecommended Action: 1) Adopt an ordinance approving Amendment No. 1 to\nDevelopment Agreement No. DA- 20-1; 2) Authorize the Mayor and City Clerk to\nexecute the amendment on behalf of the City; and 3) Authorize a budget amendment to\nallocate two-million dollars from the Low and Moderate Income Housing Asset Fund per\nCity Council Resolution No. 14531.