Title
Approval of a Resolution Approving a Restrictive Covenant Between the City of Olympia and St. Francis House on Martin Way, LLC
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve a resolution approving a restrictive covenant between the City of Olympia and St. Francis House on Martin Way, LLC
Report
Issue:
Whether to approve a resolution approving a restrictive covenant between the City of Olympia and St. Francis House on Martin Way, LLC
Staff Contact:
Darian Lightfoot, Director of Housing and Homeless Response, 360.280.8951
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
The Olympia Municipal Code (OMC) 15.04.060 allows for certain exemptions for payment of impact fees. Along with the fee reduction, the code requires the property owner seeking reduced impact fees to record a covenant that prohibits using the property for any purpose other than for low-income housing, which, at a minimum, must address price restrictions and household income limits for the low-income housing, and require that, if the property is converted to a use other than for low-income housing as defined in the covenant, the property owner must pay all of the applicable impact fees in effect at the time of any conversion.
St. Francis House on Martin Way, LLC has applied to the City of Olympia for 80% exemption of park impact fees for its property located at 113 Devoe St. NE. St. Francis House also received approval from LOTT for a 50% rebate of the LOTT connection fee through its pilot Affordable Housing Support Program. This is the first project to receive the LOTT connection fee rebate since the pilot began earlier this month.
St. Francis House was the previous site of a veterinary clinic that will soon operate a St. Vincent DePaul clothing bank on the first floor of the building along with 4 studio apartments on the second floor. All units will be rented at or below of 80% area media...
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