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Home My WebLink AboutCT 00-13; LMD Carlsbad 25 LLC; 2003-1450331; Affordable Housing Agreement/ReleaseRecording Requested by: City of Carlsbad OFFICI#. RECORDS W DIEGO COUNTY KRRDER’S OFFICE GREGORY J. S#ITHr CW EmH FEES: 0.00 When Recorded Mail to: City of Carlsbad Attn: City Clerk 1200 Carlsbad Village Drive Carlsbad, California 92008 f$ City Clerk’s Office e4 I cop (Space abovefor Recorder‘s Use) P AFFORDABLE HOUSING AGREEMENT THIS AFFORDABLE HOUSING AGREEMENT (“Agreement”) is entered into this 6th day of October, 2003, by and between the CITY OF CARLSBAD, a municipal corporation (hereinafter referred to as the “City”), and LMD CARLSBAD 25, LLC, a California limited liability company (hereinafter referred to as the “Developer”), is made with reference to the following: d RECITALS A. Developer is the owner of certain real property iu the City of Carlsbad, County of San Diego, State of California, described in “Attachment A”, which is attached hereto and incorporated herein by this reference, and which is the subject of a Tentative Map (CT 00-13) which provides conditional approval of the subdivision of sixteen residential lots residential parcels (“Project”). B. Chapter 21.85 of the Carlsbad Municipal Code requires that this Affordable Housing Agreement shall be entered into between the City and the Developer as a means of satisfying the Developer’s affordable housing obligation (“Affordable Housing Obligation”), as such is defined under Chapter 21.85 of the Carlsbad Municipal Code. Planning Commission Resolution No. 4900 provides that the Affordable Housing Obligation of three (3) units will be satisfied by the purchase of affordable housing credits, as provided for in Chapter 21.85, Section 21.85.080. NOW, THEREFORE, incorporating the foregoing Recitals and in consideration of the mutual covenants contained herein, the parties agree as follows: I. That the Recitals Are True And Correct. 2. THAT SATISFACTION OF DEVELOPER’S AFFORDABLE HOUSING REOUIREMENT WILL BE BY THE PURCHASE OF AFFORDABLE HOUSING CREDITS. June 11,2002 (a) Performance under this Agreement satisfies the Developer’s obligation for affordable housing under Chapter 21.85 of the Carlsbad Municipal Code as applied to the land covered by Carlsbad Tract No. CT00-13 by reason of the approvals of the Tentative Map of CT 00-13, including Condition No. 11 listed in Planning Commission Resolution No. 4900 and any other applicable approval. (b) The Developer shall purchase three (3) Affordable Housing Credits for an amount established by resolution of the City Council and as required by Condition No. 11 of Planning Cornmission Resolution No. 4900. The fee shall be paid prior to the Developer receiving any building permits for the project. 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. 11 of Planning Commission Resolution No. 4900. 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 CarIsbad Tract No. 00-13. 4. HOLD HARMLESS Developer will indemnityand 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. 5. NOTICES All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registered 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 and Redevelopment Department Attn: Housing & Redevelopment Director 2965 Roosevelt Street, Suite B Carlsbad, California 92008-2389 June 11,2002 TO THE DEVELOPER: Lucas and Mercier Development Attn: Mike Lake 630 Alta Vista Drive, Suite 203 Vista, CA 92084 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 I 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. 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. June 11,2002 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. DEVELOPER CITY LMD Carlsbad 25, LLC, a California limited liability company By: a California Corporation Lucas & Mercier Development, Inc. as Managing Rmber By: Name !b& Fdntan; I L City of Carlsbad, a Municipal corporation By: Y/& vice President /Sandra L. Holder Community Development Director re ory E. Harris, Secretar Name F b If required by City, proper notarial acknowledgment of execution by Developer must be attached. If a Corporation, Agreement must be signed by one corporate officer fiom each of the following two groups. *Group A. Chairman, President, or Vice-president **Group B. Secretary, Assistant Secretary, CFO or Assistant Treasurer Otherwise, the corporation secretary under corporate seal empowering the officer(s) signing to bind the corporation. attach a resolution certified by the secretary or assistant APPROVED AS TO FORM: RONALD R. BALL, City Attorney By: stant Citi Attorney Y June 11,2002 ATTACHMENT A LEGAL DESCRIPTION OF SUBJECT PROPERTY LOTS 1 THROUGH 16, INCLUSIVE, OF CARLSBAD TRACT NO. 00-13, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AS SHOWN ON THE MAP THEREOF NO. 14440, FEED IN THE OFFICE OF THE COUNTY RECORDER, SAN DIEGO COUNTY, SEPTEMBER 17,2002. CALIFORNIA ALL=PURPOSE ACKNOWLEDGMENT State of California County of ’an Diego M.K. Stuckey, notary public, Name and Tltle d Officer (s.g., “Jane Doe, Nolay Public”) On October 10, 2003beforeme, personally appeared Date Gregory E Harris & Donald W Fontana Name@) d Signer(s) fisonally known to me 0 proved to me on the basis of satisfactory evidence acted, executed the instrument. Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reafiachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: 10/10/03 Number of Pages: 6 Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Affordable Housing Agreement XI Corporate Officer - Title(+ Secretary & VP Partner - 0 Limited 0 General 0 Guardian or Conservator Signer is Representing: LMD Carlsbad 25 LLC 0 1999 Natanal Notary AsSOCiation 9350 De Sdo Am. P.O. Box 2402 Chatsworlh, CA 913152402 - w.naiicnaIn0tay.org Prod. NO. 5907 Reorder. Call Toll-Free 1-800-876-6827