To: MAYOR AND CITY COUNCIL
From: ANGELICA ZAVALA, HOUSING SUPERVISOR
TITLE
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AUTHORIZE THE MAYOR TO SIGN THE AFFORDABLE HOUSING AGREEMENT TO PRESERVE THE EXISTING HOUSING COVENANTS AND RESTRICTIONS AND APPROVE ALL NECESSARY AND RELATED DOCUMENTS, FOR THE SALE OF A RESIDENTIAL PROPERTY LOCATED AT 2750 ARTESIA BLVD., #244, REDONDO BEACH, CA 90278
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EXECUTIVE SUMMARY
On February 17, 2004, the City Council adopted the Senior Housing Ordinance No. 2927-04, amending the zoning ordinance to establish standards for housing for senior citizens. On June 17, 2004, the Planning Commission subsequently approved a 192 unit senior citizen residential condominium project at 2750 Artesia Boulevard, Redondo Beach, CA, also known as "Breakwater". As required by Senior Housing Ordinance 2927-04, a condition of project approval requires that the developer enter into an Affordable Housing Agreement with the City to provide and restrict by deed twelve (12) units as affordable for moderate-income households and eight (8) units for low-income households for a period of not less than 55 years from the date of construction in accordance with all applicable state and local laws.
At the January 5, 2021 Special Housing Authority meeting, Council approved the Affordable Housing Agreement for 2750 Artesia Boulevard, #244. On January 7, 2021 the Housing Authority Office was informed that the seller has relocated out of the country. Due to the difficulty of obtaining the seller's signature, the Grant Deed Addendum has been modified and no longer includes the signature requirement. In accordance with City regulations, this item must be presented for approval to the Housing Authority and then be approved by the City Council.
A Moderate-Income family is defined as a Household where the combined gross incomes of all persons residing in the unit exceeds the adjusted qualifying income limit for low-income but does not exceed a maximum of 120% of the area median income (AMI) a...
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