HomeMy WebLinkAbout1997-07-15; City Council; Resolution 97-5361
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CITY COUNCIL RESOLUTION NO. 97-536
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, AUTHORIZING THE APPROPRIATION OF
$200,000 IN THE FORM OF A NON INTEREST BEARING DEFERRED
LOAN FROM THE CITY OF CARLSBAD’S HOUSING TRUST FUND
FOR THE PURPOSE OF ASSISTING CATHOLIC CHARITIES, SAN
DRIVE FOR THE LA POSADA DE GUADALUPE HOMELESS
SHELTER
DIEGO TO ACQUIRE PROPERTY LOCATED AT 2472-2478 IMPALA
WHEREAS, a request for financial assistance was submitted to the City of Carlsbz
Housing Commission for review and consideration by Catholic Charities, San Diego; and
WHEREAS, Catholic Charities, San Diego has expressed a need to receive finan
assistance in the amount of $200,000 from the City of Carlsbad Housing Trust Fund for
purpose of acquiring property located at 2472-2478 Impala Drive for La Posada de Guadah
Homeless Shelter; and
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WHEREAS, said Housing Commission did, on the 8‘h day of May, 1997, hold a pu
meeting to consider said application requesting financial assistance; and
WHEREAS, the Housing Commission, upon hearing and considering all testimony, if a
of all persons desiring to be heard, and considering all factors relating to the application 2
request for financial assistance, has recommended to the City Council that the appropriation
approved because the Commission believes that the City’s financial participation in
acquisition of the property for La Posada de Guadalupe will be a sound investment based uy
La Posada de Guadalupe’s ability to effectively serve the City’s housing needs and priorities
expressed in the Housing Element and the Consolidated Plan and the cost effectiveness
acquiring said property based on the appraised value of the property and the leveraging of
financial assistance recommended; and
WHEREAS, the City Council APPROVES the expenditure of an amount not to exce
$200,000 from the City of Carlsbad Housing Trust Fund for the purpose of providing financ
assistance to Catholic Charities, San Diego for the acquisition of property located at 2472-24
Impala Drive in Carlsbad for La Posada de Guadalupe Homeless Shelter.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City
Carlsbad, California, as follows:
1 . The above recitations are true and correct.
2. The City Council hereby AUTHORIZES the Finance Director to appropriate an amount no’
exceed $200,000 in the form of a non interest bearing deferred loan from the Housing Tr
Fund to financially assist Catholic Charities, San Diego with the acquisition of prop€ 1 located at 2472-2478 Impala Drive for La Posada de Guadalupe Homeless Shelter .
3. That the City Manager or his designee is authorized to enter into additional agreements w
Catholic Charities, San Diego, execute such other documents, or take other actions as rr
be necessary or appropriate to assist Catholic Charities, San Diego with the acquisition
the subject property.
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// bI I Y LUUNGIL KtS TION NO. 97-536
PAGE 2 V 0
1 General Conditions: II
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1. Financial assistance in the amount of $200,000 from the City of Carlsbad Hous
Trust Fund will be made available as a non interest bearing deferred loan. This loan
be secured by a Trust Deed and Promissory Note for the property on behalf of the (
of Carlsbad.
2. The term of the loan shall be twenty (20) years.
3. Repayment of any and all of the loan principal will be required upon the first to occur of
following: a) the expiration of the loan term, b) upon the first date of sale or transfer of
property, or c) failure to operate the facility as a homeless shelter consistent with
requirements of the permits governing the use of the facility and the application for finan
assistance.
4. Catholic Charities will be required to operate the facility as a homeless shelter consist
with the requirements of the Conditional Use Permit for the facility and the application
financial assistance.
5. Financial assistance shall be subject to granting the City of Carlsbad a right of f
refusal to purchase property should it at any time be made available for purchase.
6. Upon sale of the property, any proceeds shall first be disbursed to Catholic Charities
payment of the First Deed of Trust Loan, any accrued interest paid, and reasonable a
customary costs of sale of the property. The City shall then be repaid any and all of 1
principal owed. Any additional proceeds, shall be used by Catholic Charities for the s
purpose of supporting programs and services to benefit Carlsbad residents.
7. Upon this approval of financial assistance by the City Council, Catholic Charities shall er
into a loan agreement with the City of Carlsbad. The loan agreement shall include all ter
and conditions of said project approval; the amount and form of the City’s financ
assistance; compliance reporting requirements and implementing agreements.
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UI I 1 buUIVbII KC3 I IUN NU. Y[-33b _I PAGE 3 e
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of
City of Carlsbad, California, held on the l!jth day of July 1997, by the following vote, to wit:
AYES: Council Members Nygaard, Kulchin, and Hall
NOES: Council Members Lewis and Finnila
ABSENT: None
ABSTAIN: None
ATTEST:
ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)