HomeMy WebLinkAboutR01-Redevelopment Agency
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ABBNCY.~QUEST FOR ~/COUNCIL A~ION
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Glenda Saul, Executive Director
Subject: TEFRA PUBLIC HEARING - DEL ROSA
GARDENS PROJECT
Redevelopment Agency
Date: December 30, 1985
Synopsis of Previous Commiaion/Council ection:
Ordinance 3815 Providing for the issuance of industrial development bonds
6/17/85 Adopted Resolution 85-213 - inducement resolution
11/18/85 Adopted Reaolution 85-473 setting the TEFRA public hearing
12/2/85 Continued to 1/6/86
Rscommended motion: (Mayor lU1d eo.mon Council)
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Continue public hearing.
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Signature
Contact person:
Glenda Saul
Supporting data attached:
YES
Phone: 383-5081
7
Ward:
fUNDING REQUIREMENTS:
Amount: $
N/A
N/A
Project:
.January 6, 1986
Date:
No edverse Impact on City:
C,Cil Notes: 0/1
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1/6/86
Agenda Item No. .1
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;IT~ OF SAN BERNARDI~O - REQUaT FOR COUNCIL ACitON
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STAFF REPORT
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Staff requests the public hearing be continued to allow the developer time to
comply with the new multifamily bond policy adopted by the Mayor and Common
Council on December 23, 1985.
Below is a recap of the application:
Principals :
n.-ood Del Roaa, a partnership
Amount of financing:
$11,400,000
Project:
Construction of a 200-unit
senior citizen multifamily
rental and congregate housing
development on a 4.5 acre site
Location:
Del Rosa Avenue on the west, Del
Rosa Avenue on the south,
Elmwood Road on the east and
Highland Avenue on the north.
Target date for financing:
First quarter, 1986
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Conatruction schedule:
1 phase - 12-18 months to
complete
Increaae in jobs:
During construction only
Reserve & development fee:
1% of $11,400,000 . $114,000
Rent achedule:
116 Units - 1 bedroom -
$395/mo.l bath
116 unita congregate care - will
provide recreation,
transportation, limited and
medical assistance, beauty shop,
meals (3) maid and security
service
70 private, single occupancy -
$990/mo.
46 semiprivate, double occupancy
- $550/mo.
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'75-0264
0996K!EB
1/6/86