HomeMy WebLinkAboutEx 18 - Draft Affordable Housing Plan Agreement Filing 2Exhibit 18 I Draft Affordable Housing Plan and Agreement
Lake Springs Ranch
Filing 2 Final Plat Application
April 2018
AFFORDABLE HOUSING PLAN AND AGREEMENT
Lake Springs Ranch PUD
THIS AFFORDABLE HOUSING PLAN AND AGREEMENT ("Agreement") is made
and entered into this day of , 20152018, by and between THE
BERKELEY FAMILY LLLP, a Colorado limited liability limited partnership ("Owner"), the
GARFIELD COUNTY HOUSING AUTHORITY ("GCHA"), and the BOARD OF COUNTY
COMMISSIONERS OF GARFIELD COUNTY COLORADO ("BOCC").
RECITALS
A. Owner owns certain real property in Garfield County, Colorado that is legally described
in the Planned Unit Development and Preliminary Plan approvals from the BOCC for the Lake
Springs Ranch PUD, as amended (the "PUD"), under the provisions of the Garfield County
Land Use and Development Code, as amended ("LUDC"), Resolution 2016-35 recorded at
reception number 876660 of the real estate records of the Garfield County Clerk and Recorder
and incorporated by this reference ("Development Approvals").
B. The Development Approvals require Owner to make available for sale twelve (12)
affordable housing ("AH") units pursuant to Division 3 of Article 8 of the LUDC.
C. The Final Plat for Filing 2 of the PUD must be approved pursuant to the LUDC.
D. Article 8 of the LUDC shall govern the AH units, including but not limited to the
quantity, size, sale, -ate re -sale and rent of the units, to be constructed provided by the Owner,
or its successors or assigns, in the PUD.
E. This Agreement has been submitted by Owner and reviewed by the GCHA and the
BOCC as part of the Final Plat Application for Filing 2 of the PUD.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows:
1. Location of AH Units. The twelve (12) AH units shall be located as set forth on the
Final Plat recorded at reception number of the records of the Garfield County
Clerk and Recorder and incorporated by this reference.
2. Mix of AH Units. The number and mix of AH units has been calculated pursuant to
Sections 8-102 and 8-301(A) and (B), LUDC, and is as follows:
1 Bedroom Townhouse Units - 4 @ 700sf each (minimum)
2 Bedroom Townhouse Units - 7 @ 950sf each (minimum)
3 Bedroom Townhouse Units - 1 @ 1,200sf each (minimum)
The proposed units will be a mix of one and two-story townhomes depending on the
bedroom count. The lot size for each unit will be equivalent to the footprint of the building.
Each unit owner will be a member of the Lake Springs Ranch Homeowners Association and will
have access to the amenities associated with common area of the PUD, as provided for in the
Declaration of Covenants, Conditions, Restrictions and Easements (the "Covenants") for the
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PUD, as amended. The units will be built with exterior materials reflecting the character of the
free-market homes within the PUD as defined in the Covenants and the PUD Guidelines for the
PUD. Covered parking equivalent to one space per unit will also be provided. Additional on-site
surface parking will also be provided in an amount equivalent to one space per dwelling unit plus
one-half space per unit for guest parking.
3. Schedule for Construction and Completion. The schedule for construction and
completion of the All units in relation to the construction and completion of the overall
development is as follows:
The project is intended to be constructed in five filings (excluding the conserved area which
constitutes Filing 1), as shown on the Phasing Plan included in the Final Plat submission. The
proposed affordable housing units will be constructed in accordance with the following schedule:
Filing 2: 14 Free-market Lots x 10% = 1 AH Unit (see Para 9 below re: interim unit)
Filing 3: 27 Free-market Lots x 10% = 3 AH Units
Filing 4: 20 Free-market Lots x 10% = 2 AH Units
Filing 5: 37 Free-market Lots x 10% = 4 AH Units
Filing 6: 19 Free-market Lots (new) x 10% = 2 AH Units
4. Categories of AH units. The AH units are assigned the following categories pursuant to
8-302(A) of the LUDC:
Category #1: 2 - 1 Bedroom Townhomes
Category #2: 3 - 2 Bedroom Townhomes & 2 - 1 Bedroom Townhomes
Category #3: 4 - 2 Bedroom Townhomes & 1 - 3 Bedroom Townhome
5. Deed Restriction. The initial deed restriction and agreement for these AH units has been
recorded as part of the Final Plat approval, at reception number of the real estate
records of the Garfield County Clerk and Recorder, incorporated by this reference.
6. Security. Security for construction of these units is incorporated in the Improvements
Agreement for the PUD and Subdivision, recorded at reception number of the records of the
Garfield County Clerk and Recorder and incorporated by this reference.
7. AH Guidelines. The Affordable Housing Guidelines (Guidelines) set forth in Division 4
of Article VIII of the LUDC, as amended, shall apply to the AH units. The GCHA is responsible
for administering many of the provisions under Division 4 of Article VIII of the LUDC and the
Owner agrees to cooperate with the GCHA as necessary to ensure compliance with the
Guidelines. The Owner will work in cooperation with the GCHA to complete the initial sale of
the affordable housing units within the PUD and will provide the GCHA with necessary
marketing materials 120 days prior to the estimated completion of any affordable housing units.
The Owner will hold at least one open house prior to the lottery for the sale of the units. The
Owner understands and agrees that future resale of the units will be handled by the GCHA in
accordance with the Guidelines.
8. Homeowner Association Dues. Homeowner Association ("HOA") dues for AH units
shall be prorated as compared to HOA dues owed by market rate lot owners. HOA dues for AH
units shall be prorated by either average lot size or average unit size in comparison to market rate
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lots and/or units, whichever results in the lower cost for the AH units, or by a formula proposed
by the applicant and approved by the GCHA and the BOCC. If prorated HOA dues are not
possible, then the HOA dues for AH units shall be a maximum of 75 percent of the HOA dues
owed by market rate unit owners.
9. Interim Rental Unit for Filing 2. As an interim solution for providing the required
affordable housing unit associated with Filing 2, the Owners will deed restrict an existing
dwelling unit located on the Lake Springs Ranch property, subject to an inspection of the unit by
the Garfield County Building Department and a finding that the unit meets building code
requirements and is safe for occupancy. If, for any reason, Filing 2 is not developed, no
affordable housing unit will be required and the existing cabin will not be deed restricted. The
deed restriction will specify that the existing cabin can only be used as a rental affordable
housing unit subject to the requirements and limitations of Article VIII of the LUDC and that it
will be managed by the GCHA. The deed restriction will include a provision stating that the
restrictions on the cabin will only be lifted when a permanent replacement unit has been
completed and is certified for occupancy by Garfield County. The permanent unit will be a one -
bedroom for -sale townhome to be constructed on Tract A of the PUD. The existing cabin is a
one -bedroom unit, containing 600 square feet and meets all requirements for an affordable
housing unit pursuant to Article VIII of the LDDC. The interim unit will be rented at the
Category 2 level. The permanent unit will also be a Category 2 unit and will represent one of the
two Category 2 townhomes identified in Section 4 (Categories of AH Units) of this Agreement.
The deed restriction for the cabin will be executed at the time of building permit submission for
the first lot to be developed in Filing 2.
Pursuant to Section 8-201.A.7 of the LUDC, this paragraph includes additional guidelines to
address details for the administration and on-going affordability for the interim rental unit.
Rental of the interim unit will comply with Sections 8-404.0 (2 through 5) and 8-404.E of the
LUDC. However, the lease term for the interim unit will differ from Section 8-404.C.4 as
follows; the maximum rental period will be 1 year. In addition, the lease for the interim unit will
include a provision clarifying the lease can be terminated with 3 -months' notice when the
permanent unit has been completed and approved for occupancy. The Owner may elect to
continue to rent to the current occupant of the interim unit once the permanent unit has been
approved for occupancy, and the deed restriction on the interim unit has been lifted, but would be
under no obligation to do so and would no longer be bound the limitations of Article VIII of the
LUDC. The rental rate for the interim unit will be set by the GCHA pursuant to the
considerations identified in Section 8-404.E of the LUDC and input from the Owner. The rental
rate will not be allowed to be raised during the initial lease period. The rental rate may be raised
by the Owner when the lease is renewed but the increase may not exceed the annual percentage
change for rent of a primary residence based on the Consumer Price Index for the Denver -
Boulder -Greeley area.
8,10. Modifications. This Agreement may be amended only with the approval and
written consent of all parties hereto.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year
first above written.
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ATTEST:
Clerk to the Board
STATE OF )
) ss
COUNTY OF )
BOARD OF COUNTY COMMISSIONERS
GARFIELD COUNTY, COLORADO
By:
Chairman
Date:
OWNER
BERKELEY FAMILY LLLP
By:
Miriam Berkeley, General Partner
Date:
Subscribed and sworn to before me this day of , 204-52018, by
Miriam Berkeley, as General Partner for the Berkeley Family LLLP, a Colorado limited liability
limited partnership.
WITNESS my hand and official seal.
Notary Public
GARFIELD COUNTY HOUSING
AUTHORITY
By:
Authorized Signatory
Date:
STATE OF
) ss
COUNTY OF )
Subscribed and sworn to before me this day of , 2-04-52018, by
, an authorized signatory for the Garfield County
Housing Authority, a Colorado quasi -governmental agency.
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WITNESS my hand and official seal.
Notary Public
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