Low-income apartment project at Savi Ranch
An agreement to allow a low-income apartment project at Savi Ranch has been approved by City Council members acting as directors of the Yorba Linda Redevelopment Agency.
Forty-three units will be built on 3.2 acres once occupied by a Mitsubishi and Chevrolet dealership along East Park Drive, one of 13 sites--two at Savi Ranch and 11 in the city’s westend--the council identified in 2009 for potential high-density housing.
The number of apartments is based on a maximum density of 10 units per acre, plus a 35 percent “density bonus” allowed by state law, for a 13.5 units-per-acre total, Pam Stoker, the city Housing and Redevelopment Manager, told council members earlier this month.
A proposal to allow up to 30 units per acre at the site was placed on the November 2010 ballot as Measure Z and lost by only 197 votes, 13,344 to 13,147. A second vote on the issue might be set for a June election, as noted in the city pact with a non-profit housing corporation.
If a new ballot is scheduled and is successful, the agreement with National Community Renaissance of California would be modified to reflect the higher density. A majority of westside voters favored Measure Z last year, while a majority of eastsiders were opposed.
National Community Renaissance spent $44,752 promoting a “yes” vote on Z. The only publicly stated opposition was Planning Commissioner Mark Abramowitz’s Letter to the Editor published online by this newspaper. Council fired Abramowitz the next month.
Affordability of the apartment units would be ensured “for extremely low, very low and low-income residents” for 99 years, according to Stoker’s report to council. The project mix would include 15 three-bedroom, 22 two-bedroom and six one bedroom units.
The city’s Redevelopment Agency would loan project developers $5 million for property acquisition and $3.2 million for construction, out of an estimated total $18.8 million cost.
Agency funding comes from “tax increment,” the increase in property taxes collected due to development since the creation of the city project area, 2,640 eastside acres designated in 1983 and 344 westside acres added in 1990, out of the city’s total 11,125 acres.
Normally, some of the increased property taxes would flow into the city’s general fund to pay for added police protection and other costs new homes and businesses would require, but the agency takes all the increase, except for “pass through” payments to other taxing agencies, such as the county and several school, water and special interest districts.
Of course, the city hopes to make up the difference for the general fund in added sales tax revenue generated by new business development but a down economy and a still sluggish recovery have left recent sales tax income flat or lower than in past years.
One note of optimism, however, comes in a “mid-year budget update” to the council by city Finance Director Dave Christian, who noted July through December 2010 sales tax revenue showed anticipated fiscal year 2010-11 income could be $5.4 million, $400,000higher than expected but still below 2000-01 and 2001-02 levels.
According to a “schedule of performance” in the agreement with National Community Renaissance, construction would take 18 months with completion slated in April 2014.
Forty-three units will be built on 3.2 acres once occupied by a Mitsubishi and Chevrolet dealership along East Park Drive, one of 13 sites--two at Savi Ranch and 11 in the city’s westend--the council identified in 2009 for potential high-density housing.
The number of apartments is based on a maximum density of 10 units per acre, plus a 35 percent “density bonus” allowed by state law, for a 13.5 units-per-acre total, Pam Stoker, the city Housing and Redevelopment Manager, told council members earlier this month.
A proposal to allow up to 30 units per acre at the site was placed on the November 2010 ballot as Measure Z and lost by only 197 votes, 13,344 to 13,147. A second vote on the issue might be set for a June election, as noted in the city pact with a non-profit housing corporation.
If a new ballot is scheduled and is successful, the agreement with National Community Renaissance of California would be modified to reflect the higher density. A majority of westside voters favored Measure Z last year, while a majority of eastsiders were opposed.
National Community Renaissance spent $44,752 promoting a “yes” vote on Z. The only publicly stated opposition was Planning Commissioner Mark Abramowitz’s Letter to the Editor published online by this newspaper. Council fired Abramowitz the next month.
Affordability of the apartment units would be ensured “for extremely low, very low and low-income residents” for 99 years, according to Stoker’s report to council. The project mix would include 15 three-bedroom, 22 two-bedroom and six one bedroom units.
The city’s Redevelopment Agency would loan project developers $5 million for property acquisition and $3.2 million for construction, out of an estimated total $18.8 million cost.
Agency funding comes from “tax increment,” the increase in property taxes collected due to development since the creation of the city project area, 2,640 eastside acres designated in 1983 and 344 westside acres added in 1990, out of the city’s total 11,125 acres.
Normally, some of the increased property taxes would flow into the city’s general fund to pay for added police protection and other costs new homes and businesses would require, but the agency takes all the increase, except for “pass through” payments to other taxing agencies, such as the county and several school, water and special interest districts.
Of course, the city hopes to make up the difference for the general fund in added sales tax revenue generated by new business development but a down economy and a still sluggish recovery have left recent sales tax income flat or lower than in past years.
One note of optimism, however, comes in a “mid-year budget update” to the council by city Finance Director Dave Christian, who noted July through December 2010 sales tax revenue showed anticipated fiscal year 2010-11 income could be $5.4 million, $400,000higher than expected but still below 2000-01 and 2001-02 levels.
According to a “schedule of performance” in the agreement with National Community Renaissance, construction would take 18 months with completion slated in April 2014.
posted by Jim Drummond at 12:00 PM
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