HomeMy WebLinkAbout11 - Affordable Senior Housing ProjectCITY OF NEWPORT BEACH
CITY COUNCIL STAFF REPORT
Agenda Item No. 11
March 11, 2003
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 In Lieu 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 Coastal Commission entitlement.
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 conceptual plans for the project have been approved
by the City Council, Planning Commission, and Parks, Beaches and Recreation
Commission. The project has been submitted to the Coastal Commission with a request
to be on their April 2003 agenda.
The $50,000 appropriation to the CIP will fund additional consultant contracts for water
quality management, archeological mitigation, visual simulation enhancement, legal
Additional Fund Transfer for Lower Bayview Project
March 11, 2003
Page 2
services, and planning staff augmentation as it relates to the Coastal Commission
entitlement process. This is in addition to the $50,000 previously transferred for services
related to the City's entitlement process of which approximately $120 remains. 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 15% to the development costs.
Environmental Review:
Not subject to CEQA, as the activity is not a project, as defined in Section 15378(b)(4).
Public Notice:
None Required.
Fundinq 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: Prepared by:
SHARON Z. W D DANIEL R. TRI BLE
Assistant City Moager C & ED Program Administrator
Attachment: Budget Amendment #
ril
City of Newport Beach
BUDGET AMENDMENT
2002 -03
EFFECT ON BUDGETARY FUND BALANCE:
Increase Revenue Estimates
x Increase Expenditure Appropriations AND
Transfer Budget Appropriations
SOURCE:
from existing budget appropriations
x from additional estimated revenues
from unappropriated fund balance
EXPLANATION:
NO. BA- 050
AMOUNT: $50,000.00
Increase in Budgetary Fund Balance
Decrease in Budgetary Fund Balance
PX No effect on Budgetary Fund Balance
This budget amendment is requested to provide for the following:
To appropriate funds from the Affordable Housing Mitigation Fund to Lower Bayview Affordable Senior Housing Project CIP.
I
ACCOUNTING ENTRY:
BUDGETARY FUND BALANCE
Fund Account
REVENUE ESTIMATES (3601)
Fund /Division Account
Description
Description
9010 5864 Private Refunds and Rebates
EXPENDITURE APPROPRIATIONS (3603)
Amount
Debit Credit
$50,000.00
Signed:
City Council Approval: City Clerk
Date
Description
Division
Number 7014 Miscellaneous and Studies
Account
Number c2700706 Affordable Housing Project
$50,000.00
Division
Number
Account
Number
Division
Number
Account
Number
Division
Number
Account
Number
Division
Number
Account
Number
Automatic System Entry.
Signed:
J-®3
Financi Approval: Admini rative Services Director
Date
Signed:
9� ,
O �-
Administrative ApKrroval: City Manager
to
Signed:
City Council Approval: City Clerk
Date