HomeMy Public PortalAboutAB 20-082 Thompson Place Local Housing Agreement 2nd AmendmentMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 20-082
Meeting Date March 26, 2020
AGENDA ITEM INFORMATION
SUBJECT:
Request for Approval of the Thompson Place 2nd
Addendum to Development Agreement for Local
Housing Deed and Lease Restrictions
Department Approvals Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Community Development Originator
Police Department
Public Works
Golf Course
COST IMPACT: n/a Parks and Recreation
FUNDING
SOURCE:
n/a Airport
Library
TIMELINE: ASAP Information Systems
Grant Coordinator
SUMMARY STATEMENT:
At its March 28, 2019 regularly scheduled meeting, the McCall City Council approved the Findings of Fact,
Conclusions of Law, and Decision documents for PUD-18-03, SUB-18-06, ZON-18-03, the Appeal of DR-
18-52, and the City and Owner entered into a Development Agreement for Thompson Place recorded on
July 30, 2019. JarMar INVESTMENTS LLC has acquired the property. The proposed development
included 16 condominium units to consist of four fourplexes, 12 deed restricted units for local housing,
within the Jake’s Landing Subdivision. The Owner agreed to allocate the first twelve (12) units of the
Thompson Place development to be constructed for Local Housing pursuant to the City of McCall Local
Housing Incentive Program. In exchange, the City will provide incentives to be allocated to Owner/LLC
that total the sum of $120,000 toward the cost to complete such improvements. The criteria for the deed
restrictions is outlined in the addendum. The Addendum was drafted by the City Attorney and the
Owner/LLC has approved the Addendum. The original Development Agreement is also attached as a
reference.
The developer has now requested that the Addendum be modified again to change the sales price of the first
6 units from $180,000 to $200,000.
RECOMMENDED ACTION:
Approve the 2nd Addendum to the Development Agreement for Thompson Place, and authorize the Mayor
to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE ACTION
March 28, 2019 Council approved the Development Agreement
September 26, 2019 Council approved the Addendum to the Development Agreement