HomeMy WebLinkAboutAGENDA REPORT 1989 1115 CC REG ITEM 11GELOISE BROWN
Mayor
BERNARDO M. PEREZ
Mayor Pro Tern
CLINT HARPER, Ph. D.
Councilmember
PAUL LAWRASON
Councilmember
SCOTT MONTGOMERY
Councilmember
RICHARD T. HARE
City Treasurer
TO:
FROM:
DATE:
SUBJECT:
MOORPARK
M E M O R A N D U M
The Honorable City Council
Steven Kueny, City Manager
November 9, 1989
Consider Allocation Agreement with Griffin Homes
ITEM I . 9!0
STEVEN KUENY
City Manager
CHERYL J. KANE
City Attorney
PATRICK RICHARDS, A.I.C.P.
Director of
Community Development
R. DENNIS DELZEIT
City Engineer
JOHN V. GILLESPIE
Chief of Police
In September 1989, Griffin Homes and the City approved an Allocation
Agreement. As part of the consideration, Griffin Homes was obligated to
pay $50,000 upon approval of a minor modification for their project (Tract
3963 - RPD 1041) and $1,500 at the occupancy of each of the last 134 homes
for the project. This second obligation totals $201,000.
It is Staff's understanding that the Council intended to use this $50,000
for affordable housing purposes to assist the five first -time home buyers
as provided for in the Allocation Agreement. For some time, the Council
has discussed the possibility of establishing an Affordable Housing Fund.
Staff recommends the creation of such a fund with the placement of this
$50,000 in that fund.
The balance of the payment from the Allocation Agreement will total
$201,000. This total obligation must be paid no later than July 1, 1990.
There are various uses the Council can consider_ for these funds, including,
but not limited to:
1. Affordable Housing Fund (proposed).
2. Capital Improvement Fund (proposed).
3. Street improvements.
4. Arroyo Vista Community Park improvements.
5. General Fund Reserve.
6. Disaster Services Program.
7. City Hall Building Fund.
8. Some combination of the above and /or other uses.
I recommend the establishment of a Capital Improvement Fund which could be
used for street, park and building projects. Such a fund gives future
flexibility on the use of these funds. This Fund would be available to
799 Moorpark Avenue Moorpark, California 93021 (805) 529 -6864
f
y
The Honorable City Council
November 9, 1989
Page 2
supplement other sources of funds used for such purposes. We do not
currently have sufficient funds to complete the proposed improvements at
Arroyo Vista Community Park and will need millions of dollars to help
construct surface alternative routes for SR -23 (Walnut Canyon) and SR -118.
STAFF RECOMMENDATION
1. Establish an Affordable Housing Fund and designate that the
$50,000 payment, pursuant to the terms of the Griffin Homes
Allocation Agreement, be placed in this Fund.
2. Establish a Capital Improvement Fund and designate that the
$201,000 payment, pursuant to the terms of the Griffin Homes
Allocation Agreement, be placed in this Fund.
SK:sc
891191
MOORPARK, CALIFORNIA
City Council Meeting
of 198
A ,CTION: o2-S /, Zs
�rc-f j�z