huntington beach banner
Share to Facebook Share to Twitter Bookmark and Share
File #: 22-586    Version: 1
Type: Consent Calendar Status: Passed
File created: 6/30/2022 In control: City Council/Public Financing Authority
On agenda: 9/6/2022 Final action: 9/6/2022
Title: Approve and authorize execution of a Density Bonus and Affordable Housing Agreement with The Olson Company, LLC for the 34-unit townhome project located at 8375 Talbert Avenue
Attachments: 1. Att#1 Final Density Bonus & AH Agmt-8375 Talbert
REQUEST FOR CITY COUNCIL / HOUSING AUTHORITY ACTION

SUBMITTED TO: Honorable Mayor and City Council Members / Honorable Chair and Board Members

SUBMITTED BY: Al Zelinka, City Manager / Executive Director

VIA: Ursula Luna-Reynosa, Director of Community Development

PREPARED BY: Charles Kovac, Housing Manager

Subject:
title
Approve and authorize execution of a Density Bonus and Affordable Housing Agreement with The Olson Company, LLC for the 34-unit townhome project located at 8375 Talbert Avenue
body

Statement of Issue:
It is recommended that the City Council approve a Density Bonus and Affordable Housing Agreement ("Agreement") by and between the City of Huntington Beach ("City") and The Olson Company, LLC ("Developer") to facilitate the development of a 2.07 acre site located at 8375 Talbert Avenue ("Project"). The Project consists of thirty-four (34) townhomes, of which this Agreement will restrict three (3) units for low and moderate income households for a period of 45 years.

Financial Impact:
Not applicable.

City Council and Housing Authority Recommended Action:
recommendation
A) Approve the Density Bonus and Affordable Housing Agreement by and between the City and The Olson Company, LLC for the development of 34 ownership units at 8375 Talbert Avenue; and,

B) Authorize the City Manager, or designee, to implement and execute the Density Bonus and Affordable Housing Agreement for the Project, including all necessary related documents; and

C) Authorize the Housing Authority Executive Director or designee to execute all necessary implementing agreements and related documents.
end

Alternative Action(s):
Do not approve and direct staff accordingly.

Analysis:
The Project proposes to redevelop a 2.07 acre infill site with 34 attached townhome units located at 8375 Talbert Avenue. All of the units will range from 1,258 square feet to 1,846 square feet and will be either two or three stories with an attached two-car garage. Bedrooms will ra...

Click here for full text