TO: Mayor and Commissioners
FROM: Michael Coleman, Director of Community Improvement
THROUGH: Donald B. Cooper, City Manager
DATE: April 19, 2016
Title
WORKFORCE HOUSING COVENANT FOR UPTOWN ATLANTIC
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Recommended Action:
Recommendation
Motion to Approve the Workforce Housing Covenant between the City of Delray Beach and Equity Delray LLC., pursuant to the requirements under Section 4.7 of the Land Development Regulations, Section 4.4.13(1)(1), "Central Business District - West Atlantic Neighborhood".
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Background:
In December 2015, City Commission approved request of the Site Plan Review and Appearance Board (SPRAB) action on the Class V site plan for Uptown Atlantic. EQUITY DELRAY LLC, (collectively referred to as “Developer) of the Uptown Atlantic project had requested the City enter into the attached Workforce Housing Covenant, pursuant to Section 4.7.4 of the LDR’s that grants to the developer certain density bonus units beyond the base number allowed, per the existing Zoning Ordinance, after performance standards have been met. In addition, the ordinance requires a minimum of 20% workforce units, consisting of low to moderate-income households at rental rates which do not exceed a certain percentage of the Department of Housing and Urban Development-determined fair market rent for the area.
Per the site plan, the developer was required to provide a total of eight (8) units for the increase in density. The developer has elected to provide a total of twenty-two (22) units: four (4) one-bedroom units for one (1) low-income household and three (3) moderate-income households; seventeen (17) two-bedroom units for five (5) low-income household and twelve (12) moderate-income households; and one (1) three-bedroom apartments for a moderate-income household, thus exceeding this standard. A fully executed covenant is required prior to the issuance of a building permit, pursuant to Section 4.7.2 b. The agreement further provides for rules governing the rights of the City to review and enforce compliance with all provisions of the covenant.
City Attorney Review:
Approved as to form and legal sufficiency.
Timing of Request:
Developer's Agreement requires approval of workforce housing covenant as well as Landscape Maintenance and Tri-party In-Lieu agreements.