Title:
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Consider recommendations regarding an update of affordability provisions and encumbrance for 26 La Calera Way, Third District, as follows:
a) Approve a modification of the affordability conditions on the real property located in the Pacific Glen Development at 26 La Calera Way, in Goleta, California, APN 073-480-006; and
b) Approve a change in the income category from Low (50-80% of Area Median Income) to Moderate (100-120% of Area Median Income); and
c) Approve an increase in the affordability covenant on the property from the present 30 years to 45 years, effective from the date of transfer to the new owner.
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