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HomeMy WebLinkAboutR04-Redevelopment Agency REuEVELOPMENT AGENCY .hCQUEST FOR \;OMMISSION/COUNCIL ACTION From: Glenda Saul, Executive Director Subject: INDUCEMENT RESOLUTION - VLACH APARTMENTS PARK PROJECT LJept: Redevelopment Agency Date: JANUARY 9, 1986 Synopsis of Previous Commission/Council action: Ordinance 3815 providing for the issuance of Industrial Development Bonds 12/16/85 Continued to January 21, 1986 Recommended motion: (Mayor and CODDDon Council) Continue to March 3, 1986 &~jp/17 Signature Contact person: GleBea Saul Phone: 383-5081 Supporting data attached: 'YES Ward: 7 FUNDING REQUIREMENTS: Amount: $ n/A Project:N I. ,...... No adverse Impact on City: Date: JauuaLY ll, 1~86 lcil Notes: 1I28K/ED 1/21/86 Agenda Item No. --11- Lf CI. f OF SAN BERNARD~_40 - REQUL..,T FOR COUNCIL ACi.ON STAFF REPORT Ordinance 3815 provides for industrial development bond financing, including multifamily mortgage revenue bonds. The City has received a request for bond financing from Leo J. and Agnes J. Vlach. Below is a recap of the application: Principals: Leo J. Vlach and Agnes J. Vlach Amount of financing: $1,308,000 Project: Construction of a 40-unit multifamily complex on 1. 25 acres Location: 3667 North "E" Street Target date for financing: Unknown Construction schedule: Start 3/86 Complete 10/86 Increase in jobs: During construction only Reserve and development fee: 1% of $1,308,000 ~ $13,080 Rent schedule: 27 units, 1 bedroom, $395/month 13 units, 2 bedroom, $495/month Zoning: R-3-l200, 1 unit/l,200 square feet Note: Due to revisions in plans, Plsnning Department has continued approval of project until revisions are complete. Staff recommends continuing the item to March 3, 1986, in order for the applicant to comply with new multifamily bond requirements. 75-0264 1128K/EB 1/21/86 -... - -' ."Dwht thahl,n . j ----1 -----I --, I I hr IIIOft tttI.1tll ",lIlflMl,o~ I" "If .. 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