2006-095-Setting The Sale Prices For Below Market Price Housing Program Units Located At 576 West Parr AvenueRESOLUTION 2006 -095
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
SETTING THE SALES PRICES
FOR BELOW MARKET PRICE HOUSING PROGRAM UNITS
LOCATED AT 576 WEST PARR AVENUE
WHEREAS, the Town of Los Gatos Zoning Ordinance Sections 29.10.3000 through
29.10.3040 establish a Below Market Price (BMP) Housing Program to assist low and moderate
income Los Gatos citizens to purchase homes; and
WHEREAS, the BMP Program requires construction of dwellings that persons and
families of low and moderate income can afford to buy, and assures to the extent possible that the
resale prices of those dwellings will be within the means of persons and families of low and
moderate income; and
WHEREAS, the Town wishes to ensure that all BMP units remain in the BMP
Program, and retain their affordability to persons and families of low and moderate income.
NOW, THEREFORE, THE TOWN COUNCIL OF THE TOWN OF LOS
GATOS DOES HEREBY RESOLVE:
That the initial sales prices for the four (4) BMP units located at 576 West Parr Avenue, Los Gatos,
Units 23, 33, 34, and 35, are set as follows: two (2) units shall be sold at $233,975, and two (2) units
shall be sold at $168, 963.
1
r•
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Los Gatos, California, held on the 5th day of September, 2006, by the following vote.
COUNCIL MEMBERS:
AYES: Steve Glickman, Joe Pirzynski, Barbara Spector, Mike Wasserman,
Mayor Diane McNutt
NAYS: None
ABSENT:
011411 IN
SIGNED: n
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
K THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA