To: MAYOR AND CITY COUNCIL
From: MARC WIENER, COMMUNITY DEVELOPMENT DIRECTOR
TITLE
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APPROVE AN AGREEMENT WITH KEYSER MARSTON ASSOCIATES, INC. (KMA) TO PROVIDE CONSULTING SERVICES FOR THE COMMUNITY DEVELOPMENT DEPARTMENT TO ASSIST THE CITY IN DOCUMENTING THE AFFORDABLE HOUSING AGREEMENT TERMS FOR THE 43-UNIT RESIDENTIAL CONDOMINIUM DEVELOPMENT PROJECT LOCATED AT 122 AND 126 NORTH PACIFIC COAST HIGHWAY FOR AN AMOUNT NOT TO EXCEED $30,000 (PAID BY THE DEVELOPER) AND THE TERM APRIL 14, 2026 THROUGH APRIL 13, 2027
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EXECUTIVE SUMMARY
At their duly noticed public hearing on February 20, 2025, the Planning Commission approved Resolution No. 2025-02-PCR-01 to permit the construction of a Residential Condominium Project with 43 Units located at 122 and 126 N. Pacific Coast Highway. As approved and conditioned, the Applicant is required to execute and record an Affordable Housing Agreement in a form approved by the City Attorney restricting the sale or lease of the 3 deed-restricted units to very low-income households in accordance with the requirements of Government Code Section 65915.
The developer will cover all costs associated with the preparation and review of the required Affordable Housing Agreements and related documents through a deposit collected by the Community Development Department.
BACKGROUND
Keyser Marston Associates, Inc. (KMA) has specialized expertise in the development of Affordable Housing Agreements that comply with rapidly evolving State housing affordability laws. KMA shall perform the following professional housing consulting services to assist the City in documenting and implementing the required Affordable Housing requirements:
* Prepare and review Affordable Housing Agreements and related documents, and provide written comments and revisions to prepare the documents in final, execution ready form, including, as applicable:
o Regulatory Agreement
o Loan Agreement (if required based on affordability structure)
o Promissor...
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