REQUEST FOR CITY COUNCIL / HOUSING AUTHORITY ACTION
SUBMITTED TO: Honorable Mayor and City Council Members / Honorable Chair and Board Members
SUBMITTED BY: Eric G. Parra, Interim City Manager
VIA: Jennifer Villasenor, Acting Director of Community Development
PREPARED BY: Charles Kovac, Housing Manager
Subject:
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Approve and authorize the execution of an Affordable Housing Agreement between the City of Huntington Beach and TPG AG EHC III (LSEA) CA 3, L.P. for a residential development consisting of 13 new affordable townhomes located at 7225 Edinger Avenue
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Statement of Issue:
It is recommended that the City Council approve an Affordable Housing Agreement ("Agreement") between the City of Huntington Beach ("City") and TPG AG EHC III (LSEA) CA 3, L.P., in conjunction with Landsea Homes of California LLC (together referred to as the "Developer"), to facilitate the development of a 5.6-acre site located at 7225 Edinger Avenue ("Project"). The Project consists of 129 ownership townhome units, with this Agreement stipulating that thirteen (13) units will be reserved for moderate-income households for a period of 45 years.
Financial Impact:
Not applicable.
Recommended Action:
recommendation
A) Approve the Affordable Housing Agreement between the City of Huntington Beach and TPG AG EHC III (LSEA) CA 3, L.P. for the development of 13 affordable units at 7225 Edinger Avenue; and,
B) Authorize the City Manager or their designee to implement and execute the Affordable Housing Agreement for the Project, including all necessary related documents; and,
C) Authorize the Housing Authority Executive Director or their designee to execute all necessary implementing agreements and related documents.
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Alternative Action(s):
Do not approve the recommended action and direct staff accordingly.
Analysis:
Background
On March 28, 2023, the Developer obtained approval from the Planning Commission for Tentative Tract Map No. 19174 and Conditional Use P...
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