Commission Backs 40-Unit Intracorp Irvine Blvd Project

The Tustin Planning Commission recommended City Council approval of a comprehensive land use, zoning, and development agreement package with INTRACORP SOCAL-1 LLC for a 40-unit condominium project on Irvine Boulevard, including two very-low income units and an affordable housing in-lieu fee estimated at $276,020. The recommendation encompasses a 45-year affordability term per unit and associated density bonus concessions and subdivision approvals.

Document date · December 13, 2022

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Scope & details

The full contract record, as filed.

Contract type

CONSTRUCTION

Contract term

45-year affordability term for each affordable unit (housing agreement referenced)

Renewal

Housing agreement for affordable units will require a 45-year term of affordability with equity sharing between the property owner and the City. Renewal or extension terms beyond the 45-year affordability period are not specified in the minutes.

Document type

Minutes

Source document

Tustin Planning Commission Meeting Minutes December 2022

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by City of Tustin?

Intracorp Socal-1 Llc was awarded this construction contract by City of Tustin, as recorded on December 13, 2022.

What type of contract is this?

This is a Construction contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Tustin Planning Commission Meeting Minutes December 2022 (Minutes), dated December 13, 2022 from City of Tustin. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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