Title
Public Hearing on a Development Agreement with Low-Income Housing Institute for 2828 Martin Way
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Hold a public hearing on a development agreement with the Low-Income Housing Institute. After closing the public hearing, move to adopt the attached resolution approving a development agreement with the Low-Income Housing Institute for residential development to serve low-income individuals at 2828 Martin Way.
Report
Issue:
Whether the City Council should hold a public hearing and approve a development agreement with the Low-Income Housing Institute.
Staff Contact:
Leonard Bauer, Interim Director, Community Planning and Development, 360.753.8206
Presenter(s):
Leonard Bauer, Interim Director, Community Planning and Development
Background and Analysis:
This development agreement is requested by City staff in accordance with Chapter 18.53 of the Olympia Municipal Code. Staff from the Departments of Community Planning and Development and Public Works have worked with the Low-Income Housing Institute (LIHI) and the City Attorney's office to draft the proposed development agreement (see attached).
The development agreement is for a 1.12-acre property located at 2828 Martin Way, on the northwest corner of Martin Way and Pattison Street NE (tax parcel no. 69510000200). The property was purchased by the City of Olympia using its Home Fund and is being sold to LIHI to construct (in two phases) approximately 111 units of housing affordable to low-income residents, and a shelter for approximately 60 individuals experiencing homelessness. A purchase and sale agreement has been signed with LIHI for the sale of the property.
The proposed agreement provides that LIHI will apply for the development of the property in two phases, and each application will be reviewed for consistency with the City's adopted development regulations at the time of the execution of ...
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