HomeMy WebLinkAbout855 - AUTHORIZING the Waiver of the Development Exise Tax for 74 units to be constructed for BouldeRESOLUTION NO# 855
A RESOLUTION FOR THE PURPOSE OF WAIVING THE
DEVELOPMENT AND HOUSING EXCISE TAXES FOR
THE PERMANENTLY AFFORDABLE DWELLING UNITS
AT THE FOOTHILLS COMMUNITY LOCATED AT 895
CHERRY AVENUE IN BOULDER, COLORADO.
WHEREAS, the need for permanently affordable housing in the City of Boulder has
been established through a public process leading to the acceptance of the Comprehensive
Housing Strategy by the City Council in February, 1999 and in the Boulder Valley
Comprehensive Plan which seeks to establish ten percent of the City's housing stock as
permanently affordable; and
R'HEREAS, the electorate approved Ballot Issue #201 at the special municipal election
on November 3, 1998 which authorized changes to the Development Excise Tax; and
WHEREAS, the City Council of the City of Boulder adopted Ordinance #5044 which
implements Ballot Issue #201 by providing, among other things, an exemption of the
Development and Housing Excise Taxes for permanently affordable dwelling units and, the
authority to the City Council to waive or reduce the Development Excise Tax in order to promote
the provision of affordable housing; and
WHEREAS, the City Council of the City of Boulder adopted Ordinance # 7025,
"Inclusionary Zoning" which establishes that a minimum of twenty percent of the dwelling units
in a development must be available to households at or below the "low income leveP' established
annually by the Department of Housing and Urban Development (HUD); and
WHEREAS, the City Council of the City of Boulder adopted Ordinance # 7026,
"Residential Growth Management System" which establishes Yhe number of building permiYs
that are available in a year, the conditions under which those permits may be issued, and that
exemptions will be available far developments that substantially address community goals by
exceeding the minimum requirements of the City's regulations; and
WHEREAS, the Housing Authority of the City of Boulder plans to develop 74 units of
rental housing and a group home for low income developmentally disabled individuals at the
Foothills Community at 895 Cherry Avenue in Boulder, which was approved by the Planning
Board on November 4, 1999; and
WHEREAS, the Foothills Community substantially exceeds the minimum requirements
of the Inclusionary Zoning regulations and will be eligible for an exemption under the
Residential Growth Management System, by providing forty percent of the dwelling units in the
development to households at or below the HUD low income limit.
NOW, THEREFORE, be it resolved by the City Council of the City of Boulder that to
promote and support the provision of affordable housing in the community, the Development and
Housing Excise Taxes shall be waived for all of the new permanently affordable dwelling units
in the Foothills Community located at 895 Cherry Avenue, Boulder, CO, 80304.
Adopted by the City Council of the City of Boulder on the
15th day of Aueust, 2000
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F'(HE•CITy
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p Will Toor, Mayor
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Attest:
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Director mance
Ex-offici City Clerk