TO: LINDA REICH, CITY MANAGER
FROM: WARREN MORELION, AICP, DIRECTOR OF DEVELOPMENT SERVICES
SUBJECT
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Second Amendment to the Hillsborough Development Agreement.
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RECOMMENDATION
recommendation
Conduct a public hearing and approve the introduction of Ordinance No. 2024-002, approving a second amendment to the Development Agreement with Hillsborough Phase III, LLC, to be read by number and title only, and waive further reading of the Ordinance.
ORDINANCE NO. 2024-002 - AN UNCODIFIED ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CHINO, CALIFORNIA, APPROVING THE SECOND AMENDMENT TO THE DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF CHINO AND HILLSBOROUGH PHASE III, LLC FOR THE DEVELOPMENT OF A SENIOR HOUSING PROJECT
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FISCAL IMPACT
Approval of the Development Agreement will not result in any fiscal impact. All costs associated with the project will be paid by the developer.
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommendation detailed above will further the City's values and strategic issues that serve as key pillars on which identified priorities, goals, and action plans are built, by fostering:
* Financial Stability
* Responsible Long-Range Planning
Revenue:
Expenditure:
Transfer In:
Transfer Out:
BACKGROUND
The applicant is the current owner of the Hillsborough Village senior citizen apartment complex (Hillsborough Property). The Hillsborough Village development consists of a 196-unit senior citizen apartment complex (Existing Development), which was approved by the City Council on September 3, 1985. On November 5, 2019, the City Council approved a Development Agreement (DA) with the applicant for construction of an addition to the Existing Development, which consists of a three-story, 62-unit senior citizen apartment building, including affordable housing units (Project) on a 1.42-acre undeveloped lot adjacent to the existing Hillsborough Property.
The approved DA requires all units within the 62-unit...
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