Loading...
HomeMy WebLinkAboutCT 2023-0005; TOLL WEST COAST LLC; 2026-0063788; 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# 2026-0063788 111111111111 lllll 11111111111111111111111111111111111 IIIII IIIII IIII IIII Mar 09, 2026 10:38 AM OFFICIAL RECORDS JORDAN Z. MARKS, SAN DIEGO COUNTY RECORDER FEES: $32.00 (SB2 Atkins: $0.00) PAGES: 7 (Space above for Recorder's Use) AFFORDABLE HOUSING AGREEMENT (Purchase of Credits) {h THIS AFFORDABLE HOUSING AGREEMENT ("Agreement") is entered into this (I day of M@riYI , 2026, by and between the CITY OF CARLSBAD, a California municipal corporation and charter city ("City") and Toll West Coast, LLC, a Delaware Limited Liability Company, ("Developer"), 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 Tract Map (CT 2023-0005), Planned Development Permit (PUD 2023-0007), and Coastal Development Permit (CDP 2023-0058) providing conditional approval of the construction of twenty-one (21) residential air-space condominium 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. 7533, incorporated herein by reference, provides that the Affordable Housing Obligation of three (3) units shall be satisfied by: (i) the construction of one (1) affordable very low-income unit onsite, and (ii) the purchase of two (2) housing credits in a combined, off-site affordable housing development (Tavarua Affordable Development) within the northwest quadrant of the city, as forest forth in Chapter 21.85 of the Carlsbad Municipal Code as an alternative to construction of the affordable housing obligation on the site of the market rate units. NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows: 1. The foregoing Recitals are true and correct and are incorporated herein. 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. 23-0005 (CT 2023-0005), pursuant to the approvals granted by Planning Commission Resolution No. 7533, including condition No. 16, and any other applicable approval. (b) The Developer shall purchase two (2) affordable housing credits in 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. 16 of Planning Commission Resolution No. 7533 no later than two (2) years following City Council approval 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 City Council approval of 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. 16 of Planning Commission Resolution No. 7533. 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. Carlsbad Tract No. 23-0005 (CT 2023-0005). 4. HOLD HARMLESS Developer will indemnify, defend, 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 "lndemnitees"), 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 lndemnitees, 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,CA,92008 2 TO THE DEVELOPER: Toll West Coast, LLC, a Delaware Limited Liability Company Toll Brothers Attn: Thuan Vo, Project Manager 350 Commerce, Suite 200 Irvine, CA 92602 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, with the exception of section 4 Hold Harmless, 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 the housing lots. 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. (SIGNATURES ON NEXT PAGE) 3 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. DEVELOPER, Toll West Coast, LLC, a Delaware Limited Liability Company By: Toll West Coast, a Delaware limited liability company Its Vice President By ~if_ e--:i.- G~Deacon Vice President Dated: F~b . 11 . iozro CITY OF CARLSBAD, a California municipal corporation and charter city By: Amanda Mills, Director Housing & Homeless Services Dated: _3.._1/&_~/._.z_~------ (Chairman, president or vice-president and secretary, assistant secretary, CFO or assistant treasurer must sign for corporations. Otherwise, the corporation must attach a resolution certified by the secretary or assistant secretary under corporate seal empowering the office(s) signing to bind the corporation.) (If signed by an individual partner, the partnership must attach a statement of partnership authorizing the partner to execute this instrument.) (Proper notarial acknowledgment must be attached.) APPROVED AS TO FORM: Cindie McMahon, City Attorney By:_C_' ~--~-· - Dalton Sorich, Assistant City Attorney ATTEST: 4 CALIFORNIA ACKNOWLEDGMENT 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 truthfulness, accuracy, or validity of that document. State of California } County of __ ~ __ CA_n_g_€ ____ _ On ~ l1 / z_[)z _{_() before me, /t9:J.16ed C. [J.__r L~C() tote [. _ Hm Insert Nome and ntte of the Q(f;ce, personally appeared ~({:P' Af~ D..ea.,.,c.c.=fL ~Name(s) of Signer(s) 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. ASHLEY CARLSON Notary Publtc •: California z Oranae County ~ commission# 2520994 My Comm, Explm May 22, 2029 Place Notary Seal and/or Stamp Above I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signatur OPTIONAL Completing this information can deter alteration of the ument or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: ___________________________ _ Document Date: _____________________ Number of Pages: ___ _ Signer(s) Other Than Named Above: _______________________ _ Capacity(ies) Claimed by Signer(s) Signer's Name: ____________ _ Signer's Name: ____________ _ □ Corporate Officer -Title(s): ______ _ □ Corporate Officer -Title(s): ______ _ □ Partner -□ Limited □ General D Partner -□ Limited □ General □ Individual □ Attorney in Fact □ Individual □ Attorney in Fact □ Trustee □ Guardian or Conservator □ Trustee □ Guardian or Conservator □ Other: □ Other: Signer is Representing: _________ _ Signer is Representing: _________ _ ©2019 National Notary Association 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 March 6, 2026 before me, Erica Nava, Notary Public (insert name and title of the officer) personally appeared Amanda Geesey Mills 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. Signature k; ~i CfA (Seal) ........ i ERICA NAVA Notary Public -California 2 San Diego County ! Commission # 2538691 y Comm. Expires Nov 10, 2029 Exhibit A LEGAL DESCRIPTION OF PROPERTY Lot 2 in Block "Q" of Palisades No. 2, in the City of Carlsbad, County of San Diego, State of California, according to Map thereof No. 1803, filed in the Office of the County Recorder of San Diego County, August 25, 1924 APN: 204-240-22-00 5