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Home My WebLink AboutAgenda Report - June 25, 1986 (78)CITY CO'JWIL NIEE: JUNE 25, 1986 BE Q&= AND COMPTON REQUEST TO ANMD MULTI -FAMILY PFD= AT 218 SOUTH HUTCHINS STREET Council was apprised that on February 6, 1985, the City Council approved the issuance of Multiple -Family OC -35 Development Bonds for the following projects (1) 120 units CC -53(a) at 1830 South nutchins Street (i.e. Center Court Apartments CC -46 (2) 40 units at 205-225 rest Lockeford Street and (3) 18 units at 218 South Hutchins Street. In November 1985 when the Count-il declared the Moratorium on aparb;ent construction in the central and eastern portions of the cram mity, the Multiple -Family Bond projects on Hutchins Street and Lockeford Street were granted exemptions. Center Court Apartments were under construction at the time and were outside of the Moratorium's boundaries. At the present time plans for the 40 unit project on Lockeford Street are in plan check. No submittal has ever been made for 218 South Hutchins Street. Bennett and Corton, Inc. is requesting that the City Council permit the contractor to divide the property at 218 South Hutchins Street into three fourplex parcels and to substitute those units for the previously approved project. However, the developer does not contemplate using bond proceeds for the fourplex construction. Mr. Dennis Bennett, President, Bennett and Ccrrpton, Inc., 1200 W. Tokay Street, Lodi, addressed the Council regarding the matter and responded to questions as were directed by the Council. Following discussion, on motion of Council Member Snider, Pinkerton second, Council determined that the history of the subject project is such that it should continue to be exalted from the moratorium. C +JJNCIL COMMUNICATIOr TO: THE CITY COUNCIL DATE NO. FROM: THE CITY MANAGER'S OFFICE June 17, 1986 SUBJECT: BENNETT & COMPTON'S REQUEST TO AMEND MULTIPIE-FAMILY PROJECT AT 218 S. HUTCHINS STREET. j BACKGROUND. On February 6, 1985 the City Council approved the issuance of Multiple -Family Development Bonds for the following projects (1) 120 units at 1830 South Hutchins Street (i.e. Center Court Apartments (2) 40 units at 205-225 West Lockeford Street and (3) 18 units at 218 South Hutchins Street. In November 1985 when the Council declared the Moratorium on apartment construction in the central and eastern portions of the community, the Multiple -Family Bond projects on Hutchins Street and Lockeford Street were granted exemptions. Center Court Apartments were under construction at the time and were outside of the Moratorium's boundaries. At the present time plans for the 40 unit project on Lockeford Street are in plan check. No submittal has ever been made for 218 South Hutchins Street. Bennett and Compton, Inc. is requesting that the City Council permit the contractor to divide the property at 218 South Hutchins Street into three fourplex parcels and to substitute those units for the previously approved project. However, the developer does not contemplate using Bond proceeds for the fourplex construction. INDICATED ACTION. The City Council must determine if the story of this project is such that it should continue to be exempted from the Moratorium. mmunity Development Director CITY COUNCIL FRED M I:EID. Mayor EVELYN M OLSON Mayor Pro l empore DAVID M HINCHMAN JAMES W PINKERTON, it JOHN R (Randy) SNIDER f� CITY OF I,OY"-**6I CITY HALL, 221 WEST PINE STREET CALL BOX 3036 LODI, CALIFORNIA 95241-1910 (209) 334-5634 June 10, 1986 Mr. Dennis G. Bennett President Bennett and Ccq:ytan, Inc. 1200 W. Thkay Street Lodi, California 95240 Re: 218 South Hutchins Street Dear Mr. Bennett: THOMAS A PETERSON City Manager r ALICE M REIMCHF City Clerk .RONALDht STEIN - City Attorney Your April 15, 1986 letter regarding proposed changes to an 18 ur-it apartment project at 218 South Hutchins Street, Lodi, to be financed by a multi -family residential bond program which had earlier been approved by the Council, was presented to the Council at its Regular Meeting of June 4, 1986. Council referred the matter to Staff asking that it be placed on the Regular Agenda for the next Regular Meeting of the Council which will be held June 25, 1986. Please do not hesitate to call this office, should you have any questions regarding this matter. very truly yours, *&/,)A&ffz� ALICE M. REIMm City Clerk Bennett & Compton, Inc. April 15, 1986 City of Lodi Community Development Department 221 West Pine Street Lodi, CA 95240 ATTN: Mr. James B. Schroeder Director Community Development RE: 218 South Hutchins Street Gentlemen: The above referenced property was proposed and approved by the Lodi City Council as an 18'unit apartment project to be financed by a multi -family residential bond program. The bond program was a major financing tool for developers and builders throughout our state. However, a ceiling was placed -on- the amount of funds E available for those projects. That limit was reached and many projects were not able to be financed.by that program due to an excessive demand for those funds. We proposed this project as a bond project but were not successful in getting our project funded prior to the. available funds being committed. Since we started planning this project you have placed a moratorium on:th'e building of multi -family units in this area. Al However, you exempted this project at the time since it was previously approved' 'as a bond financed project. Due 'to the lack of available bond funds, we now would like to continue",, -.with- the development of this project but without the bond program.; Additionally, we;4would like to reduce the number of units Ao twelve (12)`. and:,splitthe property ,into three parcels to f-a-cilitate:financing. Our new concept would be three'four 'lex buildings on three,'individual lots that would enable us to.obtain ^� much more desirable financing :and to complete a projeat that, has been,, in, ourinventory for sometime. The proposed new plans would allow for a reduction of six units and an upscale unit that would offer more amenities and will be more attractive to the neighborhood. This site is a premier location.and we feel we can justify a high end project by offering more appeal architecturally and aesthetically. At this time we are requesting your approval to continue with this 1 1200 W. TOKAY STREET / LODI, CALIFORNIA 95240 / (209) 334-6385 or (209) 467-8090 / STATE LICENSE 434935 t'"> CITY COUNCIL THOMAS A. PETERSON • FRED AS. REiD, Mayor j T City Manager � CITY O 1" L O D I ALICE M. 'EVELYN M. OLSON REIMCHE City Clerk Mayor Pro Tempore CITY HALL. 221 WEST PINE STREET DAVID M. HINCHMAN CALL BOX 3006 RONALD M. STEIN JAMES W. PINKERTON. Jr. LODI, CALIFORNIA 95241-1910 City Attorney JOHN R. (Randy) SNIDER (209) 334-5634 i 1.. July 1, 1986. Mr. Dermis G. Bennett President Bennett 'and Campton, Inc. 1200 West::►y Street %odi, CA 95240 He: 218 soirth Hutchins Street =, Dear Mr. Bennetts14 Thiswill . oonfir�a action taken by- the Lodi Citycil at its .; -lettrx. Adjoe3n�ed Regular Meeting of ` June 25, 1986,. 'whereby, following, yair - preseYltaticcl ; regas�ii,nq ,the -above listed project? - Cmmcil ' appac+aved y x reguwt to divide the subject`paropexty into three €ourplex parcels and to substitute :those units far; the preNiously 'ePi�ed Izoject It is r -the -Council's understanding. that.you .dD. not conteMlate using .bond r. proceeds €or the fourplex canstrtictian. z Should yoar have any questions regarding. this action, please' do .not Yr..sitats #o call.this bffioe.' i VexY ti�ily- yo= 4- X+- (. - - City Clerk - ,..-. e Aldt;ji ccs; James 8. Schroeder Oareu�ity Dent Director - y