HomeMy WebLinkAbout1997-12-16; City Council; Resolution 97-717-7
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RESOLUTION NO. 97-717
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO
EXECUTE A PRE-PAYMENT AGREEMENT BETWEEN THE CITY
OF CARLSBAD AND FOR CT 85-19. THE MEADOWLANDS.
WHEREAS, the City of Carlsbad City Council has required that the funding of Rz
Santa Fe Road and Olivenhain Road (Project) must be guaranteed before any develop
takes place in the area bounded by Local Facilities Management Zones 11 and 12, and PO
of Zone 6; and
WHEREAS, the Council has directed City staff to proceed with the formation
Community Facilities District (CFD No. 2) to finance the Project; and
WHEREAS, although the Council anticipates that CFD No. 2 will be formed in the fi
the Council is willing to consider alternative financing proposals during the period fror
present to the formation date of CFD No. 2; and
WHEREAS, the Council finds that the formation of CFD No. 2 is proceeding
reasonable manner; and
WHEREAS, the Council finds that the guarantee provisions related to the Project m
met through an interim financing program using an agreement between certain property o\
and the City whereby the property owner agrees to prepay hislher fair share of costs assoc
with the Project; and
WHEREAS, Jenna Group, Inc., intends to build a 112 unit development in Local Fa(
Management Zone 6, known as The Meadowlands, CT 85-19; and
WHEREAS, the City Engineer has determined that, due to the size of the Jenna C
Inc., development, there will be no major impact on the circulation system at the present t
the Jenna Group, Inc., development is allowed to proceed; and
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WHEREAS, the Council finds that Jenna Group, Inc., may enter into the attz
Agreement to Pay Fair Share in satisfaction of their obligation under the Project fina
conditions.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Carl
California, as follows:
1. That the above recitations are true and correct.
2. That the form of the PETITION, WAIVER AND CONSENT TO CREATION
COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE, Exh
attached hereto, is hereby approved.
3. That the Mayor is hereby authorized to enter into the agreement show
Exhibit "I" with Jenna Group, Inc.
4. The amount that is due and payable to the City by Jenna Group, Inc., priori
approval of a final map shall be equal to $1,148,000 (1 12 units @ $10,250 per unit).
PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad
Council held on the 16th day of December , 1997 by the following vote, to wit:
AYES: Council Members Lewis, Finnila, Nygaard, Kulchin, and Hall
NOES: None
ATTEST:
49 0 ~~ LA %. JLJ-
AL%L. RAUTENKRANZ, c-itY'6.a (SEAL)
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