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Item 19 Staff Report Adopt Resolution Adopting Revised Below Market Price Housing Program Guidelines and Rescindng Resolution #1992-88MEETING DATE: 11/6/00 ITEM NO. COUNCIL AGENDA REPORT DATE: October 19, 2000 TO: MAYOR AND TOWN COUN FROM: INTERIM TOWN MA SUBJECT: ADOPT RESOLUTION ADOPTING REVISED BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES AND RESCINDING RESOLUTION # 1992-88 RECOMMENDATION: Adopt Resolution adopting revised Below Market Price (BMP) Housing Program Guidelines and rescinding Resolution #1992-88. BACKGROUND: Earlier this year, Council considered the attached report recommending changes to the BMP Housing Program Guidelines. Staff was asked to keep the number of points attributed to Town employee applicants at six rather than increase them. DISCUSSION: The attached BMP Housing Program Guidelines include all the changes recommended in the June report except that points for Town employees will remain status quo at six points. Staff believes that an employee housing program would enhance employee retention and recruitment and warrants further discussion. A report will be presented for Council consideration no later than April 30, 2001. ENVIRONMENTAL ASSESSMENTS: Revising the BMP Housing Program Guidelines is not a project defined under CEQA, and no further action is required. FISCAL IMPACT: Approval of the Guidelines will not impact the Town's Operating Budget. Attachments: 1. June 5, 2000 Council Report 2. Resolution Adopting Revised Below Market Price Housing Program Guidelines (with Exhibit A) Distribution: Richard Warren, Housing Authority of the County of Santa Clara, 505 West Julian Street, San Jose, CA 95110 PREPARED BY: Regina A. Falkne Community Service 'rector N:\csd\tcrpts113MPGUID2.WPD Reviewed by: l(/ Attorney Revised: 10/19/00 1:30 PM Reformatted: 7/14/99 COUNCIL AGENDA REPORT DATE: May 25, 2000 TO: MAYOR AND TO . COUNCIL FROM: TOWN MANAGER SUBJECT: Attachment 1 MEETING DATE: 6/05/00 ITEM NO. L3 ADOPT RESOLUTION ADOPTING REVISED BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES AND RESCINDING RESOLUTION #1992-88. RECOMMENDATION: Adopt Resolution Adopting Revised Below Market Price (BMP) Housing Program Guidelines and Rescinding Resolution 1992-88. (Attachment 1) BACKGROUND: The Town's Inclusionary Zoning Ordinance was adopted in 1979. The ordinance requires developers to provide a specified number of affordable owner -occupied or rental units, as appropriate. Fees can be paid in lieu of constructing units in some instances. In the case of rental developments, units must be made available for below market rents. Units are managed in accordance with Council guidelines. The program includes 29 owner -occupied and 33 rental units. The Town contracts with the Housing Authority of Santa Clara County, a nonprofit housing development corporation, to market and aid in facilitating unit sales. Deed restrictions are recorded with each BMP unit at the time of sale. The deed restrictions are designed to limit the resale price to a price affordable to another income eligible household. The Program's primary challenges are to keep owner -occupied units affordable, and accommodate the needs of low/moderate income Program applicants. DISCUSSION: As part of the Town's program management process, the BMP guidelines have undergone a thorough review. Policy issues have been reviewed by the Community Services Commission and staff. Council guidance regarding the program has also been incorporated into the documents. The Community Services Commission Housing Committee reviewed the Below Market Price (BMP) Guidelines. Its objectives were to better understand the Program and then to develop policy change recommendations to reflect current needs. Adopted in 1992, the current guidelines were due for review. The Community Services Commission approved the Housing Committee's recommendations. Recommended changes are shown in the attached draft. PREPARED BY: Regina A. Fa Community S •.;'t' s pirector csd34A:\cnclrpts1bmpguide.rpt Reviewed by: Attorney V Finance Revised: 5/25/00 4:16 PM Reformatted: 10/23/95 PAGE 2 MAYOR AND TOWN COUNCIL SUBJECT: ADOPT RESOLUTION ADOPTING REVISED BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES AND RESCINDING RESOLUTION #1992-88 May 25, 2000 The Commission recommends two policy changes: Point System: Two points are awarded to households who have lived in the Town for at least 10 years and have moved out within the last 5 years prior to Program application. The Commission recommends that the 5-year limit be increased to 10. The Housing Committee studied the point system at length. A primary consideration was whether or not to give points to senior applicants because their child or children live in Town. The desire to bring families together was weighed against the impact on senior service providers. After considerable discussion the Committee decided to make no further changes to the point system. Unit Rents: Rents in the current Guidelines are based on a percent of the tenants income. This system encourages property owners to select tenants that are at the high end of the income range. Instead, it is recommended that rents be restricted to 80% of Fair Market Rents published by the County Housing Authority. Staff recommends a number of administrative changes: • The point system used to prioritize applicants has been moved from "General Provisions" to "Owner Occupied Units." Applying the point system to apartments has proven to be cumbersome, time intensive and places an undue burden on apartment managers. Instead, under "Rental Units," property owners are required to forward applicant information to the Town to confirm income eligibility. The recommended revisions define the income restrictions and eliminate the need to attach the actual figures. • References to allocation of closing costs have been eliminated to allow for adherence to real estate practices. • The recommended guidelines state that Council approved deed restrictions are recorded with each BMP unit and eliminate the need to reiterate specifics from the restrictions. Since deed restrictions change from time to time, excerpting portions into the guidelines unnecessarily requires guideline revisions. • Community Development recommends that language regarding payment of in -lieu fees be amended to require payment at or prior to final occupancy. The draft guidelines also incorporate Council's request that mobile home owners relocated due to park closure be given priority. The guidelines appoint six points to households required to relocate their residence as a result of Council action. This item (IIB. Buyer Selection) is expanded to include relocation resulting from a mobile home park closure. The points given to Town employees who have worked for the Town at least one year has been increased from 6 to 20 in an effort to retain Town employees faced with exorbitant Silicon Valley housing costs. CONCLUSION: Changes to the BMP Guidelines are primarily administrative. The documents, necessary to managing this affordable housing program, allow staff to assure that only income eligible applicants are able to occupy the units. Furthermore, the guidelines and restrictions attempt to balance the need of meeting low income families' needs with respecting families privacy once they reside in the unit. Keeping administrative efforts within reasonable limits is also a consideration. PAGE 3 MAYOR AND TOWN COUNC SUBJECT: ADOPT RESOLu 1ION ADOPTING REVISED BELOW MARKE f PRICE HOUSING PROGRAM GUIDELINES AND RESCINDING RESOLUTION #1992-88 May 25, 2000 ENVIRONMENTAL ASSESSMENTS: This action is not a project defined under CEQA, and no further action is required. FISCAL IMPACT: Funds for implementing the BMP Housing Program are included in the Town's Operating Budget. Approval of the Guidelines will not impact the budget. Attachments: 1. Resolution Adopting Revised Below Market Price Housing Program Guidelines (with Exhibit A) Distribution: Richard Warren, Property Management Director, Housing Authority of the County of Santa Clara, 505 West Julian Street San Jose, CA 95110-2300 Attachment 2 RESOLUTION RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ADOPTING REVISED BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES WHEREAS, the Town of Los Gatos Zoning Ordinance Sections 29.10.3000 through 29.10.3040 establishes a Below Market Price (BMP) Housing program to assist low and moderate income Los Gatos citizens purchase homes at prices below market value; and, WHEREAS, the Program requires construction of dwellings that persons and families of moderate income can afford to buy or rent, and assures to the extent possible that the resale prices of those dwellings and rents, if they are rented, will be within the means of persons and families of low and moderate income; and, WHEREAS, the program helps the Town meet State mandated housing goals; and, WHEREAS, this resolution revises the Town of Los Gatos Below Market Price Guidelines. NOW, THEREFORE, BE IT RESOLVED that the Town Council of the Town of Los Gatos (1) repeals Resolution 1992-88; and, (2) adopts the Revised Below Market Price Guidelines attached as Exhibit A. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos held on the 6th day of November, 2000 by the following vote: COUNCIL MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: SIGNED: ATTEST: MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA csd08a:\resos\cs110600.R00 Exhibit A RESOLUTION RESOLUTION OF TIIE TOWN COUNCIL OF TIIE TOWN OF LOS GATOS ADOPTING REVISED GUIDELINES FOR TIIE TOWN'S BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES 3.90.135. I. GENERAL PROVISIONS A. Every multifamily rental dwelling project at the time of building permit, every residential condominium or planned development residential subdivision at the time of subdivision, and every community apartment project and every residential stock cooperative apartment or unit project at the time of subdivision if the transaction involves subdivision, or at the time of sale, if it does not, shall contain one or more BMP dwellings according to the rules listed below with the following exception: Any planned development with an underlying zone of HR, shall only be required to pay an in -lieu fee as established by section F of this resolution. 1. Projects containing five or more but fewer than twenty market rate units must provide a number of BMP units equal to 10 percent of the number of market rate units. 2. Projects which include 20 to 100 market rates units must provide BMP units as determined by the following formula: Number of BMP units = .225 (total # of market rate units) - 2.5 3. All projects in excess of 100 market rate units must provide a number of BMP units equal to 20 percent of the market rate units. 4. Whenever the calculations of below market price units result in a fraction of one-half or more, the number of units to be reserved is increased to the next whole number. B. Applicant Priority Point system to establish applicant rating and ranking. Six-perints spousc is 62 ycars of age er oldcr-at timc of application. time of application. "(-iv-) persons whe reside in the Town at the time of applica- tion and who havc livcd (v) Ilottseherlds which are regtrired to releeate their residence as a result of Council action. two vcars. - - r have livcd in thc Town at !cast thc prior two ycars. Three points: and havc worltcd in thc Town fer at lca3t the prior two ycars. csdO8A:\resos\cs101600.R01 -2- moved out within thc last fivc years prior to thc time of-applieation.. I-lottselields-who-litc-er-vtork-within-Stintti-Gfara-Gountr at -the -time criteria. IHottsehold size is worth two points per person. Applicants will be 2. IIouschold Sizc/Unit Sizc: unit will first be prioritized according to the point system above and then in GB. Confidentiality Client information is confidential and not considered public information except for statistical information on the BMP units and general demographic information on the buyers and renters of BMP housing units. Through implementation of the BMP program implementation the Town is attempting to provide a supply of low -moderate income housing; the Town does not wish not to set the occupants of such housing apart from the general community, attaching a stigma to the occupants. Furthermore, no public interest is served by disclosure of this information. The address of the projects containing BMP units may be provided as well as a range of sales prices. II. OWNER OCCUPIED UNITS A. Applicant Eligibility csd08A:\resos\cs101600.R01 -3- 1. Household Income: Income limits are set according to household size and range from 80 perccnt - 120 perccnt of thc Santa Clara County Median Income, as determined by using the Federal Department of Housing and Urban Development statistics regarding median income. A--: 2. Buyer Qualification: a. A buyer's qualification is determined by the family's ability to make the monthly payments for the unit. The monthly housing cost shall include the following factors: Unit Price Current Lending Rates Estimated Taxes Estimated Insurance Costs Homeowner's Fees Other expenses as determined necessary by the lender. b. All persons must qualify for their own mortgage without assistance from the Town. Qualifications must include the ability to pay taxes, insurance, closing costs and any homeowner association fees in addition to the mortgage. by -the -buyer and seller in a manner consistent with the previous thc Town , B. Buyer Selection 1. prioritized in accordance with thc point system dcscribcd in Section-B- A point system is used to establish applicant rating and ranking. Applicants csd08A:\resos\cs101600.R01 -4- will be ranked according to total points and must have at least one point to be eligible for consideration. Points are awarded as follows: Six points: (a) Senior citizens who reside in the Town at the time of application and have lived in the Town for at least the prior two years. A senior citizen is defined as any person 62 years of age or older at time of application or married couples living together when at least one spouse is 62 years of age or older at time of application. (b) Senior Citizens who have lived in the Town for at least two years and have moved out of the Town within the last five years prior to the time of application. (c) Handicapped persons who reside in the Town at the time of applica- tion and who have lived in the Town for at least the prior two years. (d) Households required to relocate their residence as a result of Council action or mobile home park closure. (e) Salaried Town employees as defined in the Town's Personnel Rules, who have been employed by the Town for a period of no less than 12 months prior to the time of application. Five points: Single heads of household with dependent children who reside in the Town at the time of application and have lived in the Town for at least the prior two years. Four points: Persons who live in the Town of Los Gatos at time of application and who have lived in the Town at least the prior two years. Three points: Persons who work in the Town of Los Gatos at time of application and have worked in the Town for at least the prior two years. csdO8A:\resos\cs101600.R01 -5- Two points: a. Households who have lived in the Town for at least 10 years and have moved out within the last ten years prior to the time of application. b. Household size is worth two points per person. One point: Households who live or work within Santa Clara County at the time of application. 2. A lottery will be used to rank each qualified applicant in the case of a tie. 3. An applicant has two opportunities to refuse a unit before being removed from the current applicant pool. 4. Applicants who do not qualify for a particular project shall retain their eligibility. 5. The highest ranked applicant must obtain pre -approval for a loan within one week after notification of its eligibility to purchase the unit. The applicant must submit documentation of loan approval within four weeks of notifica- tion of its eligibility to purchase the unit. C. Determination of Initial Selling Price 1. The initial sales price of the unit will be determined by consultation between the Town Manager or delegate and the developer within the price ranges calculated as defined herein. outlincd in Exhibit B, "Initial Sclling Pricc." The Manager is authorized to approve changes in specifications to lower the price of the BMP units which do not violate any Town code or ordinance requirements, such as changes in carpeting, lighting fixtures, etc. The initial price will be set by a BMP price agreement, which must be signed by the Town Manager and the developer prior to the Planning Commission review of the project. 2. The initial price of a unit may include direct construction costs and may include a proportionate share of the costs of providing utility services, csdO8A:\resos\cs101600.R01 -6- required on -site improvement, financing and premium points, loan standby fees, landscaping and parking, provided that the price shall not exceed an amount which will allow a range of qualified buyers (as defined above) to purchase a unit. 3. The initial price shall not include cost of land, builder's profit, marketing costs, planning, promotional or advocacy expenses, options preliminary drawings, preparing working drawings and specifications, off -site improve- ments, public agency fees, bonds, insurance, recreational facilities and engineering and architectural fees related to construction. 4. The range in which the initial selling price shall be set will be determined through completion of the following calculation on an -annual a regular basis (Scc Exhibit B): a. Calculation of the Housing Multiplier i. Determination of Total Housing Cost Sales Price - 10 percent down payment = mortgage + Annual Debt Service + Taxes + Homeowners Fees + Private Mortgage Insurance (PMI) = Total Housing Cost ii. Determination of Minimum Household Income Assume 30 percent of household income to go towards housing: Total Housing Cost/.30 = Minimum household income iii. Determination of Multiplier Sales Price/Minimum Household Income = Multiplier b. Initial Sales Price Ranges Minimum and maximum sales prices are established by completing csdO8A:\resos\cs101600.R01 -7- the following formula for a range of family sizes: Income (80, 100, and 120 percent of median income as defined by the Federal Department of Housing and Urban Development (H.U.D.) x multiplier = sales price. D. Deed Restrictions l- Council approved Deed Restrictions are recorded with each Ali Below Market Price dwelling units. 2. Owners of Below Market Price dwelling units arc not permitted to lcasc, rent; sublet, or otherwise assign their interest in the property, except that the defined by H.U.D. I mined by H.U.D. arc set forth in Exhibit A. Rents will be -�� to thirty-perLoit-of-thcji u ' 11. .D. ineomefor low rteome-keuscho'vlds. IIou+scho1d size will--lie-asstu -fib bedroom - 4 persons. All leases mast be arranged through the Town or its designee and thc Owner must aeeept qualified tenants. 3. In order to least a unit undcr thc terms of 2. above, thc owner must still -be Town must cxcreisc its right of refusal within six months from noticc of of all new units if the Town is unable to find a buyer. csdO8A:\resos\cs101600.R01 -8- 5. Resale provisions arc provided in Scction E. below. E. Resale of Units 1. If the owner elects to sell his/her unit, the Town must be notified. 2. When a Below Market Price dwelling unit becomes available for resale, the owner must allow the Town to set the resale price and make the unit available to other program applicants. 3. The Town, determines the resale price in accordance with the deed restriction recorded on the property. Town markets the unit and ranks applications, to identify the top qualified applicants. F. In -Lieu Fees 1. Establishment of Fee: Projects with five or more but less than ten units may pay a fee in -lieu of building a BMP unit in order to comply with BMP Program the requirements in Scction I.A. Approval of Hillside Planned Developments with five or more residential building sites shall require the payment of an in -lieu fee. The fee shall be equal to the amount of six percent of the building permit valuation for the project. The total building permit valuation is determined by the chief building official. 2. Fccs will be paid prior to or at close of esereew of each unit. Fees shall be paid prior to or at time of final occupancy as follows: a. Multi -Family Owner Occupied Developments. At approximately 40% occupancy of entire development as determined during the Planning approval process. b. Multi -Family Renter Occupied Developments. At approximately 75% occupancy of entire development as determined during the csdO8A:\resos\cs101600.R01 -9- Planning approval process. c. Hillside Planned Developments. At time of final occupancy for each unit. 3. In -lieu fees will be deposited into the Town's Affordable Housing Fund. Funds will be used, in part, for administration of the program. Applica- tions/recommendations for use of remaining funds will be reviewed as received. Possible use of the funds include, but is not limited to, the following: landbanking - writing down the cost of owner occupied units to make them affordable to low/moderate income households - purchasing rental units for renting to eligible tenants. III. RENTAL UNITS A. Administration The program shall be administered by the Town or its designee. B. Applicant Eligibility 1. Household Income: In order to be eligible, applicants must have a household income under 80 percent of the County's median income as defined by the Federal Department of Housing and Urban Development. (Scc Exhibit A, attached.) 2. Ability to Pay Rent A tenant's ability to pay monthly rent will also be considered in determining tenant eligibility. C. Tenant Selection Applications from tenants selected by property owner or manager will be forwarded to Town for verification of income eligibility. csd08A:\resos\cs101600.R01 -10- of this r olutio... D. Management 1. BMP rental units shall be managed in the same manner as other units in the development. 2. Tenants are eligible to receive conciliation and mediation services provided through the Town's Rental Mediation Program except as they regard rent increases. E. Unit Rents Tenants will be limited to persons whose annual income is less than 80 percent of the County's Median Income as defined by the Federal Department of Housing and Urban Development. Priority will be given to those households whose income is less than 50 percent of the median income as defined by H.U.D. Income guidelines determined by II.U.D. arc sct forth in Exhibit A. Rents will be restricted tom 80% of Fair Market Rents as determined by the Santa Clara County Housing Authority. F. Annual Review If a tenant's income increases so that it falls between 80 and 100 percent of the County's Median income, then their rent will bc sct at 30 percent of their annual --name may be increased in accordance with the Town's Rental Dispute Ordinance; and, the unit shall still be considered a BMP Rental Unit. However, if a tenant's income exceeds 100 percent of the median, the rent will bc at market rats; may be csdO8A:\resos\cs101600.R01 -11- increased to the average rent of similar units in the complex; in this latter case, the unit will no longer be a BMP unit and the next available unit must be rented to an eligible household so that the number of subsidized units remains the same. Gatos hcld on thc 18th day of May, 1992 by thc following votc: COUNCIL MEMBERS: AYES: NAYES: ABSENT: ABSTAIN: SIGNED: ATTEST: MAYOR OF TIIE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA CLERK OF TIIE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA csdO8A:\resos\cs101600.R01 -12- RESOLUTION 2000 -131 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ADOPTING REVISED GUIDELINES FOR THE TOWN'S BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES THIS resolution establishes the rules, procedures and criteria that will be used to administer the (BMP) Housing Program as requested pursuant to Zoning Ordinance Sections 3.90.100 through 3.90.135. RESOLVED: GENERAL PROVISIONS A. Every multifamily rental dwelling project at the time of building permit, every residential condominium or planned development residential subdivision at the time of subdivision, and every community apartment project and every residential stock cooperative apartment or unit project at the time of subdivision if the transaction involves subdivision, or at the time of sale, if it does not, shall contain one or more BMP dwellings according to the rules listed below with the following exception: Any planned development with an underlying zone of HR, shall only be required to pay an in -lieu fee as established by section F of this resolution. 1. Projects containing five or more but fewer than twenty market rate units must provide a number of BMP units equal to 10 percent of the number of market rate units. 2. Projects which include 20 to 100 market rates units must provide BMP units as determined by the following formula: Number of BMP units = .225 (total # of market rate units) - 2.5 3. All projects in excess of 100 market rate units must provide a number of BMP units equal to 20 percent of the market rate units. 4. Whenever the calculations of below market price units result in a fraction of one-half or more, the number of units to be reserved is increased to the next whole number. B. Applicant Priority Point system to establish applicant rating and ranking. Six points: (i) Senior citizens who reside in the Town at the time of application and have lived in the Town for at least the prior two years. A senior citizen is defined as any person 62 years of age or older at time of application or married couples living together when at least one spouse is 62 years of age or older at time of application. (ii) Salaried Town employees as defined in the Town's Personnel Rules, who have been employed by the Town for a period of no less than 12 months prior to the time of application. (iii) Senior Citizens who have lived in the Town for at least two years and have moved out of the Town within the last five years prior to the time of application. (iv) Handicapped persons who reside in the Town at the time of application and who have lived in the Town for at least the prior two years. (v) Households which are required to relocate their residence as a result of Council action. Five points: Single heads of household with dependent children who reside in the Town at the time of application and have lived in the Town for at least the prior two years. Four points: Persons who live in the Town of Los Gatos at time of applica- csdO8A:\resos\cs101600.R01 -2- tion and who have lived in the Town at least the prior two years. Three points: Persons who work in the Town of Los Gatos at time of applica- tion and have worked in the Town for at least the prior two years. Two points: Households who have lived in the Town for at least 10 years and have moved out within the last five years prior to the time of application. One point: Households who live or work within Santa Clara County at the time of application and are eligible according to family size and income criteria. Household size is worth two points per person. Appli- cants will be ranked according to total points and must have at least one point to be eligible for consideration. 2. Household Size/Unit Size: The objective of the BMP Housing Program is to maximize the number ofpeople who may benefit from the BMP housing units. Applications for any unit will first be prioritized according to the point system above and then in order of household size. CB. Confidentiality Client information is confidential and not considered public informa- tion except for statistical information on the BMP units and general demographic information on the buyers and renters of BMP housing units. Through implementation of the BMP program implementation the Town is attempting to provide a supply of low -moderate income housing; the Town does not wish not to set the occupants of such housing apart from the general community, attaching a stigma to the csd08A:\resos\cs101600.R01 -3- occupants. Furthermore, no public interest is served by disclosure of this information. The address of the projects containing BMP units (not the individual units) may be provided as well as a range of sales prices. II. OWNER OCCUPIED UNITS A. Applicant Eligibility 1. Household Income: Income limits are set according to household size and range from 80 percent - 120 percent of the Santa Clara County Median Income, as determined by using the Federal Department of Housing and Urban Development statistics regarding median income. Current income guidelines are attached as Exhibit A. 2. Buyer Qualification: a. A buyer's qualification is determined by the family's ability to make the monthly payments for the unit. The monthly housing cost shall include the following factors: Unit Price Current Lending Rates Estimated Taxes - Estimated Insurance Costs Homeowner's Fees — Other expenses as determined necessary by the lender. b. All persons must qualify for their own mortgage without assistance from the Town. Qualifications must include the ability to pay taxes, insurance, closing costs and any homeowner association fees in addition to the mortgage. c. For a resale unit, the closing costs and title insurance shall csd08A:\resos\cs101600.R01 -4- be shared by the buyer and seller in a manner consistent with the previous sale/purchase of the unit. For a new unit, the fee shall be shared by the Town from the in -lieu fees, and the buyer. B. Buyer Selection 1. Applications determined to be eligible according to Section II. A. will be prioritized in accordance with the point system described in Section I.B. A point system is used to establish applicant rating and ranking. Applicants will be ranked according to total points and must have at least one point to be eligible for consideration. Points are awarded as follows: Six points: (a) Senior citizens who reside in the Town at the time of application and have lived in the Town for at least the prior two years. A senior citizen is defined as any person 62 years of age or older at time of application or married couples living together when at least one spouse is 62 years of age or older at time of application. (b) Senior Citizens who have lived in the Town for at least two years and have moved out of the Town within the last five years prior to the time of application. (c) Handicapped persons who reside in the Town at the time of application and who have lived in the Town for at least the prior two years. (d) Households required to relocate their residence as a result of Council action or mobile home park closure. (e) Salaried Town employees as defined in the Town's Personnel Rules, who have been employed by the Town for a period of no less than 12 months prior to the time of csdO8A:\resos\cs101600.R01 -5- fl application. Five points: Single heads of household with dependent children who reside in the Town at the time of application and have lived in the Town for at least the prior two years. Four points: Persons who live in the Town of Los Gatos at time of application and who have lived in the Town at least the prior two years. Three points: Persons who work in the Town of Los Gatos at time of application and have worked in the Town for at least the prior two years. Two points: a. Households who have lived in the Town for at least 10 years and have moved out within the last ten years prior to the time of application. b. Household size is worth two points per person. One point: Households who live or work within Santa Clara County at the time of application. 2. A lottery will be used to rank each qualified applicant in the case of a tie. 3. An applicant has two opportunities to refuse a unit before being removed from the current applicant pool. 4. Applicants who do not qualify for a particular project shall retain their eligibility. 5. The highest ranked applicant must obtain pre -approval for a loan within one week after notification of its eligibility to purchase csd08A:\resos\cs101600.R01 -6- the unit. The applicant must submit documentation of loan approval within four weeks of notification of its eligibility to purchase the unit. C. Determination of Initial Selling Price 1. The initial sales price of the unit will be determined by consulta- tion between the Town Manager or delegate and the developer within the price ranges calculated as defined herein. outlined in Exhibit B, "Initial Selling Price." The Manager is authorized to approve changes in specifications to lower the price of the BMP units which do not violate any Town code or ordinance require- ments, such as changes in carpeting, lighting fixtures, etc. The initial price will be set by a BMP price agreement, which must be signed by the Town Manager and the developer prior to the Planning Commission review of the project. 2. The initial price of a unit may include direct construction costs and may include a proportionate share of the costs of providing utility services, required on -site improvement, financing and premium points, loan standby fees, landscaping and parking, provided that the price shall not exceed an amount which will allow a range of qualified buyers (as defined above) to purchase a unit. 3. The initial price shall not include cost of land, builder's profit, marketing costs, planning, promotional or advocacy expenses, options preliminary drawings, preparing working drawings and specifications, off -site improvements, public agency fees, bonds, insurance, recreational facilities and engineering and architec- tural fees related to construction. 4. The range in which the initial selling price shall be set will be determined through completion of the following calculation on csdO8A:\resos\cs101600.R01 -7- an annual a regular basis (See Exhibit B): a. Calculation of the Housing Multiplier i. Determination of Total Housing Cost Sales Price - 10 percent down payment = mortgage + Annual Debt Service + Taxes + Homeowners Fees + Private Mortgage Insurance (PMI) = Total Housing Cost ii. Determination of Minimum Household Income Assume 30 percent of household income to go towards housing: Total Housing Cost/.30 = Minimum household income iii. Determination of Multiplier Sales Price/Minimum Household Income = Multi- plier b. Initial Sales Price Ranges Minimum and maximum sales prices are established by completing the following formula for a range of family sizes: Income (80, 100, and 120 percent of median income as defined by the Federal Department of Housing and Urban Development (H.U.D.) x multiplier = sales price. D. Deed Restrictions 1. Council approved Deed Restrictions are recorded with each All Below Market Price dwelling units. must be owner -occupied except as noted in 2. below. csdO8A:\resos\cs101600.R01 -8- 2. Owners of Below Market Price dwelling units are not permitted to lease, rent, sublet, or otherwise assign their interest in the property, except that the property may be leased for a maximum of 12 months within a 10-year period. Tenants will be limited to persons whose annual income is less than 80 percent of the County's Median Income as defined by the Federal Department of Housing and Urban Development. Priority will be given to those households whose income is less than 50 percent of the median income as defined by H.U.D. Income guidelines determined by H.U.D. are set forth in Exhibit A. Rents will be restricted to thirty percent of the maximum H.U.D. income for low income households. Household size will be assumed as follows: studio and one bedroom -1 person; two bedrooms - 3 persons; three bedroom - 4 persons. All leases must be arranged through the Town or its designee and the Owner must accept qualified tenants. 3. In order to lease a unit under the terms of 2. above, the owner must still be qualified within the income limits of the Below Market Price Program in effect at the time of the lease, otherwise the owner must sell the unit. 4. The Town has the right of first refusal on the sale of the BMP units. The Town must exercise its right of refusal within six months from notice of availability of a unit. The developer has second right of refusal on first sale of all new units if the Town is unable to find a buyer. 5. Resale provisions are provided in Section E. below. E. Resale of Units 1. If the owner elects to sell his/her unit, the Town must be notified. csdO8A:\resos\cs101600.1201 -9- 2. When a Below Market Price dwelling unit becomes available for resale, the owner must allow the Town to set the resale price and make the unit available to other program applicants. 3. The Town, after receiving a recommendation from the Agent will determines the resale price in accordance with the deed restriction recorded on the property. 4. Agent notifies the next qualified buyer in the application pool. Town markets the unit and ranks applications, to identify the top qualified applicants. F. In -Lieu Fees 1. Establishment of Fee: Projects with five or more but less than ten units may pay a fee in -lieu of building a BMP unit in order to comply with BMP Program the requirements in Section I.A. Approval of Hillside Planned Developments with five or more residential building sites shall require the payment of an in -lieu fee. The fee shall be equal to the amount of six percent of the building permit valuation for the project. The total building permit valuation is determined by the chief building official. 2. Fees will be paid prior to or at close of escrow of each unit. Fees shall be paid prior to or at time of final occupancy as follows: b. Multi -Family Owner Occupied Developments. At approximately 40% occupancy of entire development as determined during the Planning approval process. c. Multi -Family Renter Occupied Developments. At ap- proximately 75% occupancy of entire development as determined during the Planning approval process. c. Hillside Planned Developments. At time of final occu- csd08A:\resos\cs101600.R01 -10- pancy for each unit. 3. In -lieu fees will be deposited into the Town's Affordable Housing Fund. Funds will be used, in part, for administration of the program. Applications/recommendations for use of remain- ing funds will be reviewed as received. Possible use of the funds include, but is not limited to, the following: - landbanking writing down the cost of owner occupied units to make them affordable to low/moderate income households purchasing rental units for renting to eligible tenants. III. RENTAL UNITS A. Administration The program shall be administered by the Town or its designee. B. Applicant Eligibility 1. Household Income: In order to be eligible, applicants must have a household income under 80 percent of the County's median income as defined by the Federal Department of Housing and Urban Development. (See Exhibit A, attached.) 2. Ability to Pay Rent A tenant's ability to pay monthly rent will also be considered in determining tenant eligibility. C. Tenant Selection Applications from tenants selected by property owner or manager will be forwarded to Town for verification of income eligibility. 1. Applications determined to be eligible according to paragraph B, above, will be prioritized in accordance with the point system csdO8A:\resos\cs101600.R01 -11- 1 established in Section I.B. of this resolution. 2. If necessary, a lottery will be used to rank each qualified applicant in the case of a tie. 3. An applicant has two opportunities to refuse a unit before being removed from the current applicant pool. D. Management 1. BMP rental units shall be managed in the same manner as other units in the development. 2. Tenants are eligible to receive conciliation and mediation services provided through the Town's Rental Mediation Program except as they regard rent increases. E. Unit Rents Tenants will be limited to persons whose annual income is less than 80 percent of the County's Median Income as defined by the Federal Department of Housing and Urban Development. Priority will be given to those households whose income is less than 50 percent of the median income as defined by H.U.D. Income guidelines determined by H.U.D. are set forth in Exhibit A. Rents will be restricted to thirty percent of the maximum H.U.D. income for low income households. Household size will be assumed to be as follows: studio and one bedroom - 1 person; two bedrooms - 3 persons; three bedrooms - 4 persons. 80% of Fair Market Rents as determined by the Santa Clara County Housing Authority. F. Annual Review If a tenant's income increases so that it falls between 80 and 100 percent of the County's Median income, then their rent will be set at 30 percent of their annual income may be increased in accordance with the Town's Rental Dispute Ordinance; and, the unit shall still be considered a BMP Rental Unit. However, if a tenant's income exceeds 100 csd08A:\resos\cs101600.R01 -12- n percent of the median, the rent will be at market rate; may be increased to the average rent of similar units in the complex; in this latter case, the unit will no longer be a BMP unit and the next available unit must be rented to an eligible household so that the number of subsidized units remains the same. FURTHER RESOLVED, that Resolution 1990-213 is repealed PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos held on the 6th day of November, 2000 by the following vote: COUNCIL MEMBERS: AYES: Randy Attaway, Jan Hutchins, Linda Lubeck, Joe Pirzynski. Mayor Steven Blanton. NAYS: None ABSENT: None ABSTAIN: None SIGNED: /s/ Steve Blanton MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: /s/ Marian V. Cosgrove CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA csdO8A:\resos\cs101600.R01 -13- DRAFT TOWN OF LOS GATOS Agency Meeting CALIFORNIA Date: 11/6/00 REDEVELOPMENT AGENCY Item #: October 16, 2000 /Q • 01, Minutes REDEVELOPMENT AGENCY The Redevelopment Agency/Town Council of the Town of Los Gatos met in the Council Chambers of the Town hall, 110 East Main Street, at 7:30 p.m., Monday, October 16, 2000, in joint regular session. ROLL CALL Present: Randy Attaway, Linda Lubeck, Joe Pirzynski, and Chairman/Mayor Steve Blanton. Absent: Jan Hutchins. MINUTES OF OCTOBER 2, 2000 (01. V) Motion by Mr. Pirzynski, seconded by Mr. Attaway, that Council approve the Joint Town Council/Redevelopment Agency Minutes of September 18, 2000, as submitted. Carried by a vote of 4 ayes. Mr. Hutchins absent. HABITAT FOR HUMANITY/REDEVELOPMENT HOUSING SET ASIDE/CHARLES ST. (19.15) Chairman/Mayor Blanton noted that this was the time and place so noted to discuss authorizing grant not to exceed $587,000 to Silicon Valley Habitat for Humanity from Redevelopment Agency Housing Set Aside. Ray Davis, resident, spoke his views on this issue. Motion by Mrs. Lubeck, seconded by Mr. Attaway, to authorize grant not to exceed $260,000 to Silicon Valley Habitat for Humanity from Redevelopment Agency Housing Set Aside (9604-72118). Carried by a vote of 4 ayes. Mr. Hutchins absent. ADJOURNMENT Motion by Mrs. Lubeck, seconded by Mr. Attaway, to adjourn this evening's meeting at 11:30 p.m. Carried by a vote of 4 ayes. Mr. Hutchins absent. ATTEST Marian V. Cosgrove Secretary to the Redevelopment Agency TC:D12:RA101600 RESOLUTION 2000 -131 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ADOPTING REVISED BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES WHEREAS, the Town of Los Gatos Zoning Ordinance Sections 29.10.3000 through 29.10.3040 establishes a Below Market Price (BMP) Housing program to assist low and moderate income Los Gatos citizens purchase homes at prices below market value; and, WHEREAS, the Program requires construction of dwellings that persons and families of moderate income can afford to buy or rent, and assures to the extent possible that the resale prices of those dwellings and rents, if they are rented, will be within the means of persons and families of low and moderate income; and, WHEREAS, the program helps the Town meet State mandated housing goals; and, WHEREAS, this resolution revises the Town of Los Gatos Below Market Price Guidelines. NOW, THEREFORE, BE IT RESOLVED that the Town Council of the Town of Los Gatos (1) repeals Resolution 1992-88; and, (2) adopts the Revised Below Market Price Guidelines attached as Exhibit A. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos held on the 6`h day of November, 2000 by the following vote: COUNCIL MEMBERS: AYES: Randy Attaway, Jan Hutchins, Linda Lubeck, Joe Pirzynski. Mayor Steven Blanton NAYS: None ABSENT: None ABSTAIN: None SIGNED: ATTEST: /s/Steven Blanton MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA /s/Marian V. Cosgrove CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA csd08a:\resos\cs101600.R00 Exhibit A TOWN'S BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES I. GENERAL PROVISIONS A. Every multifamily rental dwelling project at the time of building permit, every residential condominium or planned development residential subdivision at the time of subdivision, and every community apartment project and every residential stock cooperative apartment or unit project at the time of subdivision if the transaction involves subdivision, or at the time of sale, if it does not, shall contain one or more BMP dwellings according to the rules listed below with the following exception: Any planned development with an underlying zone of HR, shall only be required to pay an in -lieu fee as established by this resolution. 1. Projects containing five or more but fewer than twenty market rate units must provide a number of BMP units equal to 10 percent of the number of market rate units. 2. Projects which include 20 to 100 market rates units must provide BMP units as determined by the following formula: Number of BMP units = .225 (total # of market rate units)-2.5 3. All projects in excess of 100 market rate units must provide a number of BMP units equal to 20 percent of the market rate units. 4. Whenever the calculations of below market price units result in a fraction of one-half or more, the number of units to be reserved is increased to the next whole number. B. Confidentiality Client information is confidential and not considered public information except for statistical information on the BMP units and general csdO8A:\resos\cs101600.R01 demographic information on the buyers and renters of BMP housing units. Through BMP program implementation the Town is attempting to provide a supply of low -moderate income housing. The Town does not wish to set the occupants of such housing apart from the general community, attaching a stigma to the occupants. Furthermore, no public interest is served by disclosure of this information. The address ofthe projects containing BMP units may be provided as well as a range of sales prices. II. OWNER OCCUPIED UNITS A. Applicant Eligibility 1. Household Income: Income limits are set according to household size using the Federal Department of Housing and Urban Development statistics regarding median income. 2. Buyer Qualification: a. A buyer's qualification is determined by the family's ability to make the monthly payments for the unit. The monthly housing cost shall include the following factors: Unit Price - Current Lending Rates - Estimated Taxes - Estimated Insurance Costs - Homeowner's Fees Other expenses as determined necessary by the lender. b. All persons must qualify for their own mortgage without assistance from the Town. Qualifications must include the CSD06:a:\RES0 -2- ability to pay taxes, insurance, closing costs and any homeowner association fees in addition to the mortgage. B. Buyer Selection 1. A point system is used to establish applicant rating and ranking. Applicants will be ranked according to total points and must have at least one point to be eligible for consideration. Points are awarded as follows: Six points: (a) Senior citizens who reside in the Town at the time of application and have lived in the Town for at least the prior two years. A senior citizen is defined as any person 62 years of age or older at time of application or married couples living together when at least one spouse is 62 years of age or older at time of application. (b) Senior Citizens who have lived in the Town for at least two years and have moved out of the Town within the last five years prior to the time of application. (c) Handicapped persons who reside in the Town at the time of application and who have lived in the Town for at least the prior two years. (d) Households required to relocate their residence as a result of Council action or mobile home park closure. (e) Salaried Town employees as defined in the Town's Person- nel Rules, who have been employed by the Town for a period of no less than 12 months prior to the time of application. CSD08:a:\RESO -3- CSD08:a:\HESO Five points: Single heads of household with dependent children who reside in the Town at the time of application and have lived in the Town for at least the prior two years. Four points: Persons who live in the Town of Los Gatos at time of application and who have lived in the Town at least the prior two years. Three points: Persons who work in the Town of Los Gatos at time of applica- tion and have worked in the Town for at least the prior two years. Two points: a. Households who have lived in the Town for at least 10 years and have moved out within the last ten years prior to the time of application. b. Household size is worth two points per person. One point: Households who live or work within Santa Clara County at the time of application. 2. A lottery will be used to rank each qualified applicant in the case of a tie. 3. An applicant has two opportunities to refuse a unit before being removed from the current applicant pool. 4. Applicants who do not qualify for a particular project shall retain their eligibility. 5. The highest ranked applicant must obtain pre -approval for a loan within one week after notification of its eligibility to purchase the unit. The applicant must submit documentation of loan approval within four weeks of notification of its eligibility to purchase the -4- unit. C. Determination of Initial Selling Price 1. The initial sales price of the unit will be determined by consulta- tion between the Town Manager, or delegate, and the developer within the price ranges calculated as defined herein. The Manager is authorized to approve changes in specifications to lower the price of the BMP units which do not violate any Town code or ordinance requirements, such as changes in carpeting, lighting fixtures, etc. The initial price will be set by a BMP price agreement, which must be signed by the Town Manager and the developer prior to the Planning Commission review of the project. 2. The initial price of a unit may include direct construction costs and may include a proportionate share of the costs of providing utility services, required on -site improvement, financing and premium points, loan standby fees, landscaping and parking, provided that the price shall not exceed an amount which will allow a range of qualified buyers (as defined above) to purchase a unit. 3. The initial price shall not include cost of land, builder's profit, marketing costs, planning, promotional or advocacy expenses, options preliminary drawings, preparing working drawings and specifications, off -site improvements, public agency fees, bonds, insurance, recreational facilities and engineering and architectural fees related to construction. 4. The range in which the initial selling price shall be set will be determined through completion of the following calculation on a regular basis: CSD08: a:\RESO -5- a. Calculation of the Housing Multiplier i. Determination of Total Housing Cost Sales Price - 10 percent down payment = mortgage + Annual Debt Service + Taxes + Homeowners Fees + Private Mortgage Insurance (PMI) = Total Housing Cost ii. Determination of Minimum Household Income Assume 30 percent of household income to go towards housing: Total Housing Cost/.30 = Minimum household income iii. Determination of Multiplier Sales Price/Minimum Household Income= Multiplier b. Initial Sales Price Ranges Minimum and maximum sales prices are established by completing the following formula for a range of family sizes: Income (80, 100, and 120 percent of median income as defined by the Federal Department of Housing and Urban Development) (H.U.D.) x multiplier = sales price. D. Deed Restrictions Council approved Deed Restrictions are recorded with each Below Market Price dwelling units. E. Resale of Units 1. If the owner elects to sell his/her unit, the Town must be notified. CSD08:a:\RESO -6- 2. When a Below Market Price dwelling unit becomes available for resale, the owner must allow the Town to set the resale price and make the unit available to other program applicants. 3. The Town determines the resale price in accordance with the deed restriction recorded on the property. 4. Town markets the unit and ranks applications, to identify the top qualified applicants. F. In -Lieu Fees 1. Establishment of Fee: Projects with five or more but less than ten units may pay a fee in -lieu of building a BMP unit in order to comply with BMP Program requirements. Approval of Hillside Planned Develop- ments with five or more residential building sites shall require the payment of an in -lieu fee. The fee shall be equal to the amount of six percent of the building permit valuation for the project. The total building permit valuation is determined by the chief building official. 2. Fees shall be paid prior to or at time of final occupancy as follows: a. Multi -Family Owner Occupied Developments. At approxi- mately 40% occupancy of entire development as deter- mined during the Planning approval process. b. Multi -Family Renter Occupied Developments. At approxi- mately 75% occupancy of entire development as deter- mined during the Planning approval process. c. Hillside Planned Developments. At time of final occu- pancy for each unit. 3. In -lieu fees will be deposited into the Town's Affordable Housing Fund. Funds will be used, in part, for administration of the CSDOS:a:\RESO -7- program. Applications/recommendations for use of remaining funds will be reviewed as received. Possible use of the funds include, but is not limited to, the following: - landbanking - writing down the cost of owner occupied units to make them affordable to low/moderate income households - purchasing rental units for renting to eligible tenants. III. RENTAL UNITS A. Administration The program shall be administered by the Town or its designee. B. Applicant Eligibility 1. Household Income: In order to be eligible, applicants must have a household income under 80 percent of the County's median income as defined by the Federal Department of Housing and Urban Development. 2. Ability to Pay Rent A tenant's ability to pay monthly rent will also be considered in determining tenant eligibility. C. Tenant Selection Applications from tenants selected by property owner or manager will be forwarded to Town for verification of income eligibility. D. Management 1. BMP rental units shall be managed in the same manner as other units in the development. 2. Tenants are eligible to receive conciliation and mediation services provided through the Town's Rental Mediation Program except as they regard rent increases. CSDO8.a:\RESO -8- E. Unit Rents Tenants will be limited to persons whose annual income is less than 80 percent of the County's Median Income as defined by the Federal Department of Housing and Urban Development. Priority will be given to those households whose income is less than 50 percent of the median income as defined by H.U.D. Rents will be restricted to 80% of Fair Market Rents as determined by the Santa Clara County Housing Authority. F Annual Review If a tenant's income increases so that it falls between 80 and 100 percent of the County's Median income, then the rent may be increased in accordance with the Town's Rental Dispute Ordinance; and the unit shall still be considered a BMP Rental Unit. However, if a tenant's income exceeds 100 percent of the median, the rent may be increased to the average rent of similar units in the complex; in this latter case, the unit will no longer be a BMP unit and the next available unit must be rented to an eligible household so that the number of subsidized units remains the same. CSD08:a:1AESO -9- Town Council Minutes November 6, 2000 Redevelopment Agency Los Gatos, California AMICUS BRIEF/CORNETTE VS. DEPARTMENT OF TRANSPORTATION (13.28) Motion by Mrs Lubeck, seconded by Mr. Hutchins, that Council authorize the Town Attorney to include the Town of Los Gatos as an amicus curiae in the case of Cornette vs. Department of Transportation, California Supreme Court, Action S089010. Carried unanimously. DOWNTOWN HOLIDAY PARKING PILOT PROGRAM/STATUS REPORT (14.34) Motion by Mrs. Lubeck, seconded by Mr. Hutchins, that Council accept status report on Downtown Holiday Parking program. Carried unanimously. ADMINISTRATIVE ANALYST/CONFIDENTIAL EMPLOYEE/RESOLUTION 2000-128 (15.29) Motion by Mrs. Lubeck, seconded by Mr. Hutchins, that Council adopt Resolution 2000-128 entitled, RESOLUTION OF THE TOWN OF LOS GATOS AMENDING THE POSITION AND CLASSIFICATION PLAN, ADDING ADMINISTRATIVE ANALYST AS A CONFIDENTIAL EMPLOYEE CLASSIFICATION AND DELETING IT AS A TEA CLASSIFICATION. Carried unanimously. HAZARDOUS VEGETATION ABATEMENT (WEEEDS)/RESOLUTION 2000-129 (16.33) Motion by Mrs. Lubeck, seconded by Mr. Hutchins, that Council adopt Resolution 2000-129 entitled, RESOLUTION OF THE TOWN OF LOS GATOS DECLARING HAZARDOUS VEGETATION (WEEDS) A PUBLIC NUISANCE AND PROVIDING FOR THEIR ABATEMENT. Carried unanimously. FEDERAL EMERGENCY MANAGEMENT AGENCY (14EMA)/TECHNICAL COMMUNITY PROJECT/SANTA CLARA VALLEY WATER DISTRICT/RESOLUTION 2000-130 (17.40) Motion by Mrs. Lubeck, seconded by Mr. Hutchins, that Council adopt Resolution 2000-130 entitled, RESOLUTION OF THE TOWN OF LOS GATOS AUTHORIZING THE TOWN MANAGER TO EXECUTE MEMORANDUM OF AGREEMENT WITH FEMA TO PARTICIPATE IN COOPERATING TECHNICAL COMMUNITY PROJECT. Carried unanimously. BELOW MARKET PRICE HOUSING/PROGRAM GUIDELINES/RESOLUTION 2000-131 (19.39) Motion by Mrs. Lubeck, seconded by Mr. Hutchins, that Council adopt Resolution 2000-131 entitled, RESOLUTION OF THE TOWN OF LOS GATOS ADOPTING REVISED BELOW MARKET PRICE HOUSING PROGRAM GUIDELINES. Carried unanimously. FRANCIS OAKS WAY 15500/SINGLE FAMILY CONSTRUCTION/RESOLUTION 2000-132 (20.15) Motion by Mrs. Lubeck, seconded by Mr. Hutchins, that Council adopt Resolution 2000-132 entitled, RESOLUTION OF THE TOWN OF LOS GATOS GRANTING AN APPEAL OF A DECISION FROM THE PLANNING COMMISSION DENYING AN ARCHITECTURE AND TC:D11:MM110600 3