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Council approves impact-fee waivers for Reserve at Eastwood after recusal by one member
Summary
Council approved impact-fee waivers and an Affordable Housing Trust Fund contribution for the 360-unit Reserve at Eastwood affordable complex; Councilmember Geraldo recused from the vote for a potential conflict of interest.
The Council approved a request from Eastwood I LLC to waive certain impact fees (excluding water/sewer) totaling $1,603,415.27 and to provide a $1,246,968 Affordable Housing Trust Fund contribution toward water/sewer connection costs for the Reserve at Eastwood, a planned 360-unit affordable apartment community.
During the item Councilmember Geraldo recused himself from voting, stating he would abstain due to a potential conflict of interest: "I'm recusing myself for voting due to potential conflict of interest." The motion carried with multiple yes votes and two councilmembers opposed. Staff noted the waiver pattern and funding sources and reiterated previous discussion that zoning, tax-exempt status, and the project's financing structure differentiate affordable developments from market-rate projects.
Next steps: staff will process the approved waivers and contribution per ordinance and monitor compliance with affordability requirements and funding reimbursement schedules.
