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City staff asks board for direction on $3.48M subsidy for 44-unit Bousquet Place project
Summary
Staff and Hill LLC presented a revised proposal for the Bousquet Place (Hill Properties): 44 units (10 affordable deed-restricted, 34 workforce) with a city subsidy request of about $3,480,590 and $1.5M for partial infrastructure; board members debated unit mix, loss of a county $1M pledge, and tradeoffs tied to CDBG funding.
City staff and representatives from the Hill LLC presented an updated development pro forma for the Hill Properties (Bousquet Place), proposing 44 residential units with a mix of 10 deed‑restricted affordable units and 34 workforce units. Staff said the revised package reduces the city's subsidy request to about $3,480,590 by lowering administrative fees and increasing the unit count; the presentation listed a partial infrastructure investment need of…
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