Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Workforce Housing topic
No spam. Unsubscribe anytime.
Council approves 50-year workforce-housing agreement for Prominence Point property
Summary
Council approved a 50-year workforce-housing agreement for 300 Prominence Point requiring 10% of units (17 units) set aside for households at specified AMI levels (confirmed as 60%–120% AMI in the redline) to continue through ownership transfer.
Council approved a workforce-housing agreement for 300 Prominence Point at its Nov. 20 meeting, a condition tied to the developments master plan amendment. Staff said the agreement formalizes a prior condition that 10% of units (17 units) be held for households within the AMI band shown in the redlined agreement.
The council clarified the redline text on the AMI band and confirmed the operative band is 60% to 120% AMI. Staff said the current owner had designated which units were meeting the requirement and that the sale to a new owner will carry the designation forward; the buyer requested a formal written agreement to ensure compliance by future owners. Council discussed whether unit mix (one-, two- or three-bedroom) is specified and how ongoing compliance will be monitored; staff said the mix was not specified and suggested follow-up documentation and periodic audits may be necessary.
A motion to approve the workforce-housing agreement and to aid the ownership transaction carried; councilmembers emphasized monitoring and possible audit intervals to ensure future owners uphold the agreement terms.
