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City Council Meeting Minutes March 17, 2015 Page 6 of 31 4. DISCUSSION/DIRECTION /ACTION — LOCAL FINANCIAL ASSISTANCE TO SUPPORT BOULDER COUNTY HOUSING AUTHORITY'S (BCHA) AFFORDABLE HOUSING PROJECT AT 245 NORTH 96TH STREET Mayor Muckle requested a City Attorney introduction. City Attorney Light introduced Ordinances No. 1679 and No. 1680, Series 2015; the second reading of the ordinances and public hearing on all items related to 245 North 96th Street. Resolution No. 13, Series 2015 approves the Annexation Agreement. Item four is before Council for discussion/direction /action for financial assistance to support the BCHA housing project. The public may comment on any of the items. Mayor Muckle re- opened the public hearing and requested a staff presentation. Council member Loo disclosed she is storing a camper just north of this land and felt it was not a conflict of interest and would not affect her decision but would recuse herself if anyone deemed it necessary. City Attorney Light noted the land she spoke of was not part of this consideration but directly north. Council member Loo confirmed it was north. Planning and Building Safety Director Russ addressed the Annexation Agreement and Zoning and presented Council the changes made since their last discussion of this matter. ANNEXATION AGREEMENT: Affordable Units and Age- Restricted — The County is committed to constructing no less than 80% of the total residential units developed as affordable (at or below 60% of the area median income ( "AMI ")) with no less than sixty (60) of those units being age- restricted (55 -years of age or older). If the total 231 units are developed, a minimum of 185 will be affordable and no less than 60 being age- restricted. Condition of Annexation and Zoning — The updated Annexation. Agreement ties the affordable housing, age- restricted housing, and local preferences to the zoning and General Development Plan (GDP). If for some reason the County needed to sell the property prior to development, the GDP will have a note added stating the terms and conditions of the Annexation Agreement are tied to the property's zoning. GENERAL DEVELOPMENT PLAN (GDP) - Conditions 1: "The Applicant shall revise the General Development Plan (GDP) prior to recording to include a provision stating that no less than eighty percent (80 %) of the total amount of all residential units developed on the Property shall be developed as affordable units at or below 60% of the area median income ( "AMI "), and that at least 60 of the affordable units shall be age - restricted for occupancy by persons 55 or older, all as further provided in the Annexation Agreement." 2. The Applicant shall revise the General Development Plan (GDP) prior to recording to include a note stating that Use Group #12 in Section 17.72.090(b) - automobile service stations — is prohibited in Planning Area k BENEFITS OF AFFORDABLE HOUSING