City Council

10.a APPROVE AN AFFORDABILITY RESTRICTION AND REGULATORY \nAGREEMENT (DENSITY BONUS) WITH BRAVO GARDEN\nAPARTMENTS, LLC, INCLUDING A CONCESSION PROVIDING FOR\nREIMBURSEMENT OF IMPACT FEES FROM THE CITY’S HOUSING\nMITIGATION FEES\nRECOMMENDATION:\n1. Adopt a Resolution entitled, “A RESOLUTION OF THE CITY OF\nPALM DESERT, CALIFORNIA, APPROVING (1)\nAFFORDABILITY RESTRICTIONS AND REGULATORY\nAGREEMENT (DENSITY BONUS) WITH BRAVO GARDEN\nAPARTMENTS, LLC REGARDING A MULTI-FAMILY\nRESIDENTIAL DEVELOPMENT WITH 388 TOTAL\nAPARTMENTS, WITH 20% RESTRICTED TO VERY LOW\nINCOME AND LOW INCOME HOUSEHOLDS; AND (2) A\nDEVELOPMENT FEE AGREEMENT FOR THE USE OF\nHOUSING MITIGATION FEES IN AN AMOUNT NOT TO\nEXCEED $180,000 AS REIMBURSEMENT TO DEVELOPER IN\nEXCHANGE FOR RESTRICTING 5 UNITS TO QUALIFYING\nHOUSEHOLDS WITH LOCAL EMPLOYEES.”\n2. Approve the Affordability Restriction and Regulatory Agreement by\nand between the City of Palm Desert and Bravo Garden\nApartments, LLC, in accordance with the conditions of approval\nadopted by Resolution No. 2018-18, for the development of 388\nunits known as Bravo Garden Apartments, a multifamily rental\nhousing project located at located on Hovley Lane, Palm Desert,\nCalifornia, substantially as to form.\n3. Authorize the Development Fee Agreement for the use of Housing\nMitigation fees up to $180,000 to reimburse the developer for the\nfees attributable to five units restricted for occupancy for qualifying\nresidents who work within the Palm Desert city limits.\n4. Authorize the City Manager or his designee, and/or legal counsel\nto negotiate and finalize the Agreement, and the documents\ndescribed in the Agreement or otherwise deemed necessary or\nproper to effectuate the conditions of approval, with such changes\nthereto as the City Manager or his designee, in consultation with\nthe City’s legal counsel, may deem appropriate or necessary and\nconsistent with the purposes of the Agreement and conditions of\napproval, with such approval to be conclusively evidenced by the\nexecution and delivery thereof.\n5. Authorize the Mayor and/or City Manager to execute and deliver\nthe finalized Agreement, for and in the name of the City, the\nAgreement and other documents, as described in\nRecommendation No. 2, and authorize the City Clerk to record the\nAgreement.