0 Northpoint Circle 107560033 Orcutt CA 93455 MLS #PI25134425

SUMMARY
This property offers a developer the chance to acquire a well-defined project with significant, pre-negotiated fee waivers and a resolved airport land use conflict. While it requires re-entitlement, the extensive project history and existing agreements provide a clear and de-risked roadmap for bringing 32 new homes to the attractive Orcutt market.
KEY FINANCIAL ADVANTAGES &#38' REDUCED FEES
• No School Fees for OUSD: A recorded settlement agreement with the Orcutt Union School District means a future developer will not have to pay school impact fees to the OUSD. This represents a considerable savings, as the current OUSD residential development fee is $3.69 per square foot as of June 2024, a potential savings of $160,000.
• No Quimby/Park Fees: A settlement with Santa Barbara County states that Quimby/Park fees, currently $5,344 per single-family dwelling, will not be required as the map has already been recorded. This amounts to a potential savings of over $171,000.
• No Affordable Housing In-Lieu Fees: The same settlement agreement with the county determined that no affordable housing mitigation would be required for the project, representing another significant potential cost reduction.
• HOA Agreement in Place: A mediated settlement with the Northpoint Homeowner&#39's Association (HOA) clarifies that this phase is not required to join the existing HOA but will contribute to shared road and drainage basin maintenance. This agreement provides a clear framework for managing shared infrastructure costs and mitigates potential disputes with the existing association.
DEVELOPMENT &#38' ENTITLEMENT STATUS
• Expired but Clear Path Forward: While the previous Development Plan for the 32 units expired in 2018, the path to re-entitle the project is straightforward. The buyer will need to undergo a new Development Plan application consistent with the prior approvals.
• Favorable Airport Safety Zone Update: A 2023 revision to the Airport Land Use Compatibility Plan (ALUCP) has removed a "no build corridor" that previously conflicted with 15 of the lots, eliminating a significant past obstacle to development.
Streamlining Potential: The site may qualify for the permit streamlining provisions of SB 35, as it is in an urban area with 75% of its perimeter already developed.