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Council approves Coral Canyon Area 5 terms to encourage owner‑occupied housing, with added initial‑sale condition
Summary
The council approved supplemental terms with SITLA and a private developer to limit developer profits, require 80% owner‑occupancy, and restrict short‑term rentals; council added a requested condition asking staff to pursue language that initial sales be owner‑occupied where feasible.
Council considered a three‑party supplemental terms agreement to develop Sitla Area 5 with an affordable‑housing emphasis. Staff explained that the developer and Sitla agreed to cap developer profit at 6% and to record deed restrictions and CC&Rs requiring that at least 80% of lots be owner‑occupied at any time and that any rental occupancy be for at least one year. The package also restricts…
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