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Moved by Councilwoman Garcia, seconded by Councilman Rehrer, to approve Planning4 53
<br />Commission Resolution No. 955. Unanimous vote.
<br />Conditional Use Permits
<br />P. C. Res. No. 956
<br />Mr. Trevino advised that this matter is very similar to the previous item, in that
<br />the applicant, Joseph Ehret, has applied for a Conditional Use Permit to convert
<br />an existing office building into a 14 -unit condominium development on property
<br />located at 898 Via Lata, the Cooley Ranch, in Tract No. 11508.
<br />Mr. Trevino stated the Planning Commission held a public hearing on this matter,
<br />July 22, 1980, and recommended approval of the Conditional Use Permit application,
<br />subject to findings and three conditions as outlined in Planning Commission Resolu-
<br />tion No. 956.
<br />Moved by Councilman Hayes, seconded by Councilwoman Garcia, to approve Planning Com-
<br />mission Resolution No. 956. Unanimous vote.
<br />Special Assessments
<br />Tract Nos. 9963 through 9968
<br />CO Mr. Trevino stated the matter concerning affordable housing for the City was
<br />0) being continued from a previous Council meeting, wherein Covington Brothers
<br />presented a proposal to construct 113 single family dwellings at the north-
<br />west corner of Citrus Street and Grand Avenue, this concept to also include
<br />Q the formation of an assessment district to fund the off site improvements,
<br />Q which improvements would amount to approximately $8,750 per lot.
<br />Mr. Trevino continued that the City Treasurer has indicated if an assessment
<br />district is to be created, the 1911 Improvement Bond Act could be the mecha-
<br />nism, and the 1911 Act would place a direct lien against specific pieces of
<br />property. Mr. Trevino advised the bonds are issued in various denominations
<br />from $50. and up, the amount of each bond being determined by the property's
<br />proportionate share of the cost of the improvements; the City Treasurer then
<br />bills the property owner for the principle and interest installments as they
<br />come due, collects payments, --and remits the funds to the bond holders.
<br />Mr. Ed Sloman, representing Covington Brothers, again reviewed statistical
<br />charts outlining their Plan -2-106, a 2 -bedroom, 2 -bath, 939 square foot home,
<br />with a sales price of $48,000, a total down payment of $2,650, and a total
<br />monthly payment of $533.25. These figures were applicable if an assessment
<br />district were created for the off-site improvements. With no assessment dis-
<br />trict, the same model home would sell for $60,000, a total down payment of
<br />$3,300, and a total monthly payment of $660.49.
<br />Mr. Sloman concluded they are trying to do some creative financing for afford-
<br />able housing for the citizens of the community.
<br />Councilman Hayes stated there is no doubt that these are excellent and well-built
<br />homes, as he had visited several of the Covington sites, however, he was also very
<br />concerned about the assessment figures and felt there was a very tight qualifying
<br />schedule. Mr. Hayes said how long would someone be able to keep a home like this
<br />under these figures that have been shown. Mr. Hayes said he was concerned that
<br />eventually there might be a turn -over of these homes and that could cause problems.
<br />Mr. Sloman stated these figures are estimates, plus they have added into that the
<br />figure for the bonds. Mr. Sloman said there would be no risk to the City in the
<br />payment of the bonds.
<br />City Treasurer Berkebile, speaking from the audience, stated the- 1911 Bond Act
<br />places a direct lien against the property and the property owner is responsible
<br />for the payment, the City is not held responsible.
<br />Councilman Hayes then asked Mr. Sloman what their default rate has been concerning
<br />these homes.
<br />Mr. Sloman answered in their experience with financing, not even one percent.
<br />Councilman Hayes then asked how the moratorium, recently imposed by the City, would
<br />effect this development.
<br />City Attonrey Edwards stated the project could not go forward as long as the mora-
<br />torium was in effect. Mr. Edwards said that preliminary work could be done in the
<br />meantime, however, no permits could be issued or building could take place.
<br />AUG 6 mo
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