HomeMy WebLinkAbout13 - BA-028 - Lower Bayview Affordable Senior Housing ProjectCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 13
December 17, 2002
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Community & Economic Development, Planning Department
Daniel R. Trimble, Program Administrator
949/644 -3230. drtrimble @city.newport- beach.ca.us
SUBJECT: Appropriation of $50,000 from the Affordable Housing Mitigation Fund to
CIP Account #7014, C2700706 in support of the Lower Bayview
Affordable Senior Housing Project.
ISSUE:
Appropriate funds to pay consultant contracts in support of the Lower Bayview
Affordable Senior Housing Project.
RECOMMENDATION:
Appropriate $50,000 from the Affordable Housing Mitigation Fund to Lower Bayview
Affordable Senior Housing Project CIP.
DISCUSSION:
Background:
The City of Newport Beach, The Related Companies, and The Irvine Company have
agreed in principal on a development plan for a 150 unit affordable senior housing project
at the Lower Bayview site. The site is southwest of the intersection of Jamboree Road
and Back Bay Drive. All 150 units will be affordable and will assist the City in meeting our
regional housing requirements.
The $50,000 appropriation to the CIP will fund consultant contracts for environmental
review, visual simulation, and planning staff augmentation. The goal is for the project to
be entitled on an expedited basis in order to avoid costly State prevailing wage
requirements, which could add approximately 20% to the development costs.
Fund Transfer for Lower Bayview Project
December 17, 2002
Page 2
Environmental Review:
Not subject to CEQA, as the activity is not a project, as defined in Section 15378(b)(4).
Public Notice:
None Required.
Funding Availability:
The Affordable Housing Mitigation Fund has an approximate balance of 2.5 million
dollars.
Alternatives:
The City Council may choose not to appropriate the funds for this project.
Submitted by:
PATRICIA L. TEMPLE
Planning Director
Attachment: Budget Amendment#
Prepared by:
-C:
DANIEL R. TRIMBLE
C & ED Program Administrator
C
City of Newport Beach
BUDGET AMENDMENT
2002 -03
EFFECT ON
BUDGETARY FUND BALANCE:
XJ
Increase Revenue Estimates
X
Increase Expenditure Appropriations
Transfer Budget Appropriations
SOURCE:
Fund /Division
from existing budget appropriations
Description
from additional estimated revenues
5901
from unappropriated fund balance
EXPLANATION:
NO. BA- 028
AMOUNT: $50,000.00
Increase in Budgetary Fund Balance
AND Decrease in Budgetary Fund Balance
X No effect on Budgetary Fund Balance
This budget amendment is requested to provide for the following:
To increase revenue estimates and expenditure appropriations for Lower Bayview Affordable Senior Housing Project.
ACCOUNTING ENTRY:
BUDGETARY FUND BALANCE
Fund
Account
Description
REVENUE ESTIMATES (3601)
Fund /Division
Account
Description
2700
5901
Private Donations /Contributions
EXPENDITURE APPROPRIATIONS (3603)
Description
Division Number
7014
Miscellaneous & Studies
Account Number
C2700706
Affordable Housing Projects
Division Number
Account Number
Division Number
Account Number
Division Number
Account Number
Division Number
Account Number
Signed:
proval: Administra S Di tor
Signed: Financial :
Administrative Approv .A city Manager
Amount
Debit Credit
$50,000.00
' Automatic
$50,000.00
is - io -oz
Date
/jL
fDatef
Signed:
City Council Approval: City Clerk Date