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CC 01-28-85 .., ,.~, '. "~ ~ i~.· þ CITY or CUPDTIIIO, STATE or CA.LIPOI!IU 10300 Torre Avenue, Cupertino, CA 950111 Telephone: (408) 252-4505 MDfIITES OP THE ADJJOIIIIIW IU!OULU MEB'rIICG or THE CITY COIJIICIL, A JOIIIT ..... UIt VITH THE BELOW MARØT RATS SU~fTEE, HELD OM JAlllJDr 28, 1985, IJC THE LOWER uma. LOnGE, CITY HALL, CUPERTIICO, CA.LIPORlU cc-663A At 7:07 p.m., Mayor Johnson called the _ting to order in the Lower Level Lounge. ROLL CALL Counc. Present: Gatto, Plungy, Sparks, Mayor JOhaSOll Couno. Absent: Rogers Statt Present: City Manager Quinlan City Clerk Cornelius Director of Planning and Develo~nt Sisk Planner I Binnendyk City Attorney Kilian Assistant Planning Director Cowan (8:30 p...) ~ BMR Subcaaittee MeJabers Present: Jason Chartier lCiok Szabo Also Present: Sheila Brutaco, consultant Director ot Planning and Develo~t Siale introduced the Below Market Rate Subc~ttee _bars present and Ms. Brutaco, consultant. Planner I Binnendyk reviewed her report and answered questions rro. Council regarding the target price, the t1P8 and cost ot housing available and the current housing 8rket. Council addressed the Jobslhousing balance ot the _unity and it the Ci t¡ can provide a way tor builders to construct "starter" ho'..sing. Discu~sion took place regarding an in-lieu fee to be charged industrial, cOllllercial and ottice developers which would go toward housing to :a1tigate the impact ot Don-residential development. ~ -1_ ~ þ .' - .. MI1I1JTES or TIIK JAllUARt 28, 1985 JOm CITY COUIICIL - IIMR SUBCOIMITTEE MEBTIMG - CC-663A (City Clerk's Note I arrived at 8:30 p.m.) Assistant Planning Director Cowan Counoil discussed the current program in Palo Alto. Palo Alto has a two-tier prograa. The tirst tier cons1sts of the developer negotiating with the Planning Director regarding the price ot the BHR unit. When that unit is ready for sale, 11a1tations are detel'll1ned regarding the buyer's inOOlll8 and siniJaua..-axiIMI assets allowed. Various strategies to be looked at inoluded waiving fees tor residential developers and mitigation tees tor non-residential developers. Stsft was directed to examine revenue flow, park acreage necessary, park needs with full bulldout, and the Quimby Act. Mark Kroll, Prometheus Develo )llel1t, City's desires for low cost rental directed staff also look at this. inquired as housing. to the Counoil By oonsensus, Council directed public hearings be held to consider revisions. Items to look at include waiving fees for residential developers, sitigation tees for non-residential developers, Qu1œby Act and in-lieu fees; investigate need tor additional park acreage. It the City waives park in-lieu fees, what would park needs be with full buildout? Also, look at what the City sight want in rental housing (BMR). £2~L¿;.~ -2-