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HomeMy WebLinkAboutCT 2024-0001; Tyler Street Dev LLC; 2025-0116810; Affordable Housing Agreement/ReleaseRecording Requested by: City of Carlsbad When Recorded Mail to: City of Carlsbad City Clerk's Office Attn: City Clerk 1200 Carlsbad Village Drive Carlsbad California 92008 DOC# 2025-0116810 111111111111 lllll 11111111111111111111111111111111111111111111111111111 May 05, 2025 08:39 AM OFFICIAL RECORDS JORDAN Z. MARKS, SAN DIEGO COUNTY RECORDER FEES: $0.00 (SB2 Atkins: $0.00) PAGES: 7 (Space above for Recorder's Use) AFFORDABLE HOUSING AGREEMENT (Purchase of Credits) J--i V'J. THIS AFFORD,~.BLE HOUSING AGREEMENT ("Agreement") is entered into this ~er __ day of A-G? v· G \ , 2025, by and between the CITY OF CARLSBAD, a municipal corporation ("City") and Tyler Street Dev LLC ("Developer"), a Limited Liability Corporation, with reference to the following: RECITALS A. Developer is the owner of certain real property in the City of Carlsbad, County of San Diego, State of California, described in "Exhibit A", which is attached hereto and incorporated herein by this reference, and which is the subject of a Tentative Map (CT2024-0001), which provides conditional approval of the construction of twelve (12) single family dwelling units ("Project"). B. Chapter 21.85 of the Carlsbad Municipal Code requires that this Agreement shall be entered into between the City and the Developer as a means of satisfying the Developer's affordable housing obligation, as such is defined under Chapter 21.85 of the Carlsbad Municipal Code. Planning Commission Resolution No. 7527 provides that the Affordable Housing Obligation of two (2) units ("Affordable Housing Obligation") will be satisfied by the construction of the affordable housing obligation on the project site and concurrent with the project's market rate units. Prior to approval of the project by the Planning Commission on Nov. 6, 2024 and City Council on January 28, 2025, the Housing & Homeless Services Director approved the purchase of two housing credits from a combined, off-site affordable housing development (Tavarua Affordable Development) within the northwest quadrant of the city, as provided for in Chapter 21.85, Section 21.85.080 as an alternative to construction of the affordable housing obligation on the site of the market rate units. NOW, THEREFORE, incorporating the foregoing Recitals and in consideration of the mutual covenants contained herein, the parties agree as follows: 1. The Recitals are true and correct. 1 CA2/5/2013 2. THAT SATISFACTION OF DEVELOPER'S AFFORDABLE HOUSING REQUIREMENT WILL BE BY THE PURCHASE OF AFFORDABLE HOUSING CREDITS. (a) Performance under this Agreement satisfies the Developers' obligation for affordable housing under Chapter 21.85 of the Carlsbad Municipal Code as applied to the land covered by Carlsbad Tract No. 2024-0001 by reason of the approvals of the Tentative Map of CT 2024-0001, including Condition No. 15 of Planning Commission Resolution No. 7527, and any other applicable approval. (b) The Developer shall purchase two (2) affordable housing credits from the Tavarua Affordable Housing developments (within the Northwest Quadrant of the City of Carlsbad), based on availability, for an amount established by resolution of the City Council and as required by Condition No. 15 of Planning Commission Resolution No. 7527 no later than two (2) years following City Council execution of this Agreement. The credit fee shall be paid prior to the Developer receiving any building permits for the project. The subject housing credits will be reserved for said Developer for no longer than (2) years following this Agreement. If the Developer does not purchase the subject credits within two (2) years of the date of this Agreement, the City shall make the credits available to one or more alternate developers and the Developer for this Agreement shall then be required to satisfy its inclusionary obligation through alternate methods as approved by the City. 3. REMEDIES Failure by the Developer to perform in accordance with this Agreement will constitute failure to satisfy the requirements of Chapter 21.85 of the Carlsbad Municipal Code and Condition No. 15 of Planning Commission Resolution No. 7527. Such failure will allow the City to exercise any and all remedies available to it including but not limited to withholding the issuance of building permits for the lots shown on Carlsbad Tract No. 2024-0001. 4. HOLD HARMLESS Developer will indemnify and hold harmless (without limit as to amount) City and its elected officials, officers, employees and agents in their official capacity (hereinafter collectively referred to as "Indemnitees"), and any of them, from and against all loss, all risk of loss and all damage (including attorneys' fees and expenses) sustained or incurred because of or by reason of any and all claims, demands, suits, or actions, obtained, allegedly caused by, arising out of or pertaining in any manner to Developer's actions or defaults pursuant to this Agreement, and shall protect and defend Indemnitees, and any of them with respect thereto. This provision shall survive the term of this Agreement. 5. NOTICES All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registed or certified mail, return receipt requested to the party to receive such notice at the address set forth below: TO THE CITY: City of Carlsbad Housing & Homeless Services Department Attn: Housing & Homeless Services Director 1200 Carlsbad Village Drive Carlsbad, California 92008 2 CA 2/5/2013 TO THE DEVELOPER: Tyler Street Dev, LLC John H. Norum, KMJ Real Estate LLC 2888 Loker A venue East Suite 317 Carlsbad, CA 92010 Any party may change the address to which notices are to be sent by notifying the other parties of the new address, in the manner set forth above. 6. ENTIRE AGREEMENT This Agreement constitutes the entire agreement between the parties and no modification hereof shall be binding unless reduced to writing and signed by the parties hereto. 7. DURATION OF AGREEMENT This Agreement shall terminate and become null and void upon the payment of the affordable housing credits, or the repeal, termination, or modification of any applicable ordinance which act would render the Affordable Housing Obligation unnecessary or unenforceable. 8. SUCCESSORS This Agreement shall benefit and bind the Developer and any successive owners of affordable housing lots. THE REMAINDER OF THIS PAGE HAS BEEN LEFT INTENTIONALLY BLANK 3 CAZ/5/2013 9. SEVERABILITY In the event any provision contained in this Agreement is to be held invalid, void or unenforceable by any court of competent jurisdiction, the remaining provisions of this Agreement shall nevertheless, be and remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. Title: For KMJ Real Estate, LLC as sole Manager of Tyler Street Dev LLC Dated: 4 /u !UJ0) r J By: Name: -----------Title: ------------ Dated: ----------- By: CITY OF CARLSBAD /, 4 ..._ (~ ~ Amanda Mills, Director Housing & Homeless Services Dated: _ _,_1/_,_/_Z _7-__ /_Z-----'o"'------ (Proper notarial acknowledgment of execution by Contractor must be attached.) APPROVED AS TO FORM: Cindie McMahon, City Attorney 4 CA2/5/2013 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of San Diego on __ D~Y ....... ,/-z.~1~. \,_1..-b __ 1..,_S~--before me, _C_o_n_n_or_Kn_a_c_k,_N_o_t_ary_P_u_b_lic _____ _ (insert name and title of the officer) personally appeared :Jo"-1 IA }--( . N ~ r-u VV\. who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. "'4'1!./4t:&lt Or d1lt ;A ,e ,e «It £1: ,e ~ ,,\, . .°'., CONNOR KNACK ~ Notary Public -California i San Diego County ! Commission # 2361885 - Signature ____ ...,,W ,...· =----'/_,_· _-___ _ y Comm. Expires Jun 19, 2025 (Seal) CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the twthfulness, accuracy, or validity of that document. Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(&rwhose name(efis/aje subscribed to the within instrument and acknowledged to me that h//she/thw execu{~d the same in lljsfher/t~ir authorized capacity(ies), and that by hjs/her/thf signature(s) on ~he instrument the person(s), or the entity upon behalf of which the person(s) ac1ed, executed the instrument. · ~-···········1 SH£LaY M, NELSON • ' >lotary Public • Callfornl, : ! . S.in Oie10 County '.!: Commission # 23 73071 My Comm. Ex,lrH ~.1 l1, 2025 Place Notary S~~qJ and/or Stamp Above I certify under PENAL TY OF PERJURY under the ( laws of th~ State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signatur OPTIONAL --------------- Completing this information can deter a!ter:ation of the document or fraudulent reattachment of this form to an unintended document. Description of Attached DoR~~t -_1 , \ Tltle or Type of Document: ~\e:,±tID,l.',:j; ~~ W\.O u± DocumentDate: ~ NumberofPages: ____ _ Signer(s) Other Than Named Above: ______________________ _ Capadty(ies) Claimed by Signer(s) Signer's Name: ____________ _ Signer's Name: ____________ _ □ Corporate Officer -Title(s): ______ _ □ Corporate Officer -Title(s): ______ _ □ Partner -o Limited □ General □ Partner -□ Limited □ General □ Individual □ Attorney in Fact □ Individual D Attorney in Fact □ Trustee □ Guardian or Conservator □ Trustee □ Guardian or Conservator □ Other: □ Other: ______________ _ Signer is Representing: _________ _ Signer is Representing: _________ _ ©2019 National Notary Association EXHIBIT A LEGAL DESCRIPTION OF PROPERTY THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF CARLSBAD, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: LOT 5 INDUSTRIAL TRACT, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AS PER MAP 1743, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY JANUARY 3, 1923, TOGETHER WITH THAT PORTION OF LOTS 13, 14, 15, AND 16 IN BLOCK "F" OF CARLSBAD ACRE TRACT 106, ACCORDING TO MAP THEREOF NO. 535, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MAY 2, 1888. ALSO THOSE PORTIONS OF FIRST STREET ADJACENT ON THE NORTHEAST; PINE A VENUE ADJACENT ON THE NORTHWEST; AND THE ALLEY ADJACENT ON THE SOUTHWEST LYING BETWEEN THE NORTHEASTERLY LINE OF THE 200.00 FOOT RIGHT-OF-WAY OF THE ATCHISON TOPEKA AND SANTA FE RAILROAD AND THE SOUTHWESTERLY LINE OF SAID BLOCK "F", AS VACATED BY RESOLUTION OF THE COUNTY BOARD OF SUPERVISORS ON MARCH 1, 1915 IN BOOK 36, PAGE 104 OF MISCELLANEOUS RECORDS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 5, ALSO BEING THE NORTHEASTERLY CORNER OF LOT 4 OF SAID MAP 1743; THENCE, SOUTH 55°27'00" WEST 162.84 FEET ALONG THE SOUTHEASTERLY LINE OF SAID LOT 4 TO A POINT ON A PARALLEL LINE THAT IS 3.00 FEET, MEASURED PERPENDICULAR AND SOUTHWESTERLY OF THE SOUTHWESTERLY LINE OF SAID LOT 5; THENCE, SOUTH 34°33'00" EAST 139.82 FEET TO THE NORTHWESTERLY LINE OF LOT 6 OF SAID MAP 1743; THENCE, NORTH 55°27'00" EAST 162.84 FEET ALONG THE NORTHWESTERLY LINE OF SAID LOT 6 TO THE NORTHEASTERLY CORNER OF LOT 5, ALSO BEING THE SOUTHWESTERLY RIGHT-OF-WAY OF TYLER STREET (FORMERLY FIRST STREET); THENCE, NORTH 34°33'00" WEST 139.82 FEET ALONG SAID SOUTHWESTERLY LINE OF TYLER STREET (FORMERLY FIRST STREET) TO THE POINT OF BEGINNING. AS DESCRIBED IN THAT CERTIFICATE OF COMPLIANCE FOR ADJUSTMENT PLAT RECORDED JUNE 12, 2024 AS INSTRUMENT NO. 2024-0147448 OFFICIAL RECORDS. APN: 204-0 I 0-09-00 5 CA2/5/2013