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Council endorses nonbinding proposal from Power Group LLC to explore east Landing parcel purchase with 25% affordable units
Summary
The council approved a nonbinding letter of intent that allows Power Group LLC to pursue purchase options for the east Landing parcel (APN 067-010-140) and to explore options on adjacent parcels, with a proposal to set aside up to 25% of housing units as deed-restricted affordable housing under HCD rules.
City staff presented a nonbinding letter of intent from Power Group LLC (brothers John and Brian Power) proposing to purchase the east Landing parcel and potentially option adjacent parcels. Staff said the proposal would commit up to 25% of housing units to deed‑restricted affordable housing meeting California HCD criteria (50‑year deed restrictions) if the development proceeds.
Staff described the valuation approach: the commercial appraisal used per‑acre rates tied…
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