2006-02-03 TRaymond - Laserfiche WebLink

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ALAMEDA:Commissioner Watanabe? WATANABE:For clarification, so then youre anticipating that you will sell the lots; and based on the information the Director provided, youre looking at something like a half a million that youre going to put down for affordable housing? RAYMOND:Some, I mean, thats an arbitrary figure, but it is based on the sale price of the lot at the time and what an affordable home is for a median family of four or earning their median income. WATANABE:Thank you. ALAMEDA:Commissioner Iwashita? IWASHITA:Soifyoufollowthatprocedure,thenwhatsyourunderstandingastohow many lots the affordable housing in-lieu requirement would apply to? RAYMOND:After talking to Planning Commissioner (sic) Yuen this morning, we still have to work that out. I mean, its a vague area. The specific numbers that this is going to be applied to, how many lots were going to have to provide affordable housing in relation to, at this point, Im not sure. I initially thought four lots. Now were in negotiation, it appears we might have to work something out; and the Council might have to work that issue out initially. ALAMEDA:Commissioner Iwashita, follow-up? IWASHITA:So its my impression that under the present interpretation expressed by the Director its that the affordable housing requirement, in-lieu payment, would apply to four of the lots, the first four sold? YUEN:It would clearly apply to any sales at market. What we would do in a sale where the person says, oh, I sold this for a $1 and love is something that we had never, is a detail that we had not resolved; and I think that it needs to be resolved at the Council level and done, you know, done in a blanket way. The situation where somebody is legitimately conveying a piece of property that theyve had for a long time to a family member is a sympathetic one. But as I mentioned a couple of minutes ago, if you say that that works all the time regardless of circumstances, you are opening up a loophole where a developer can wash the initial transaction and avoid the payment of an in-lieu fee and then the properties, ultimately sell the properties on the market. You know, they can be sold right away by the family member to somebody else or it can even be used as an estate planning tool by a land developer. So thats something where I recognized this as an issue when we did the ordinance in February 2005 and we didnt come to a, it was a level of detail that we didnt come to a final resolution on. ALAMEDA:Commissioner Watanabe, and then Commissioner Iwashita. WATANABE:I have a follow-up question for the Director. And you did mention you would like that issue or that loophole resolved in general; and I would tend to agree. However, with respect to this application, is there a way you think that we might word that condition, cause 9EXHIBIT A