HomeMy WebLinkAbout1999-08-03; City Council; Resolution 99-75I
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CITY COUNCIL RESOLUTION NO. 99-75
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARTSBAD, CALIFORNIA, TO PROVIDE $75,000 IN
FINANCIAL ASSISTANCE FROM THE HOUSING TRUST
APPROVING THE RELATED LOAN DOCUMENTS FOR THE
BEDROOM SINGLE FAMILY DETACHED UNITS IN ORDER
TO SATISFY THE REQUIREMENTS OF THE INCLUSIONARY
HOUSING ORDINANCE FOR THE DEVELOPMENT OF 35
HILLS DEVELOPMENT.
FUND TO HERITAGE-CLIFFS, LLC., BUILDERS, INC., AND
CONSTRUCTION OF FIVE, FOR-SALE, AFFORDABLE FOUR
RESIDENTIAL UNITS IN VILLAGE L-1 OF THE CALAVERA
APPLICANT: HERITAGE-CLIFFS, LLC.
CASE NO: CT 97-04, SDP 97-03
WHEREAS, the City of Carlsbad has identified a need to provide housing which is af
low income households in a variety of different forms; and
WHEREAS, a project known as “Calavera Hills, Village L-1” has been apl
construction which will provide five (5) for-sale, four bedroom, single family detached housi
property generally located on the northwest corner of Harwich Drive and future Edgeware
Calavera Hills Master Plan which will provide housing affordable to low income households; ~
WHEREAS, the affordability level and the unit mix of the proposed project are con!
the City of Carlsbad’s Housing Element objectives, Consolidated Plan, and InclusionaI
Ordinance; and
WHEREAS, on February 12, 1998 the City of Carlsbad Housing Commission he
meeting and recommended that, based upon the financial analysis of the project, Cil
participation in the project is necessary, appropriate and exceeded by the public benefit recc
City; and
WHEREAS, the City Council did hold a public meeting to consider a request to a
documents for City financial assistance for the construction of said five (5) for-sale, four bedl
family detached housing units affordable to low income households and;
WHEREAS, at said public meeting, upon hearing and considering all testimony, i
persons designing to be heard, said Council considered all factors relating to said request:
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CC Reso. 99-75
Page 2
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NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the Citj
Carlsbad, California, as follows:
1. The above recitations are true and correct.
2. The request for City financial assistance has been determined to be consister
goals and objectives of the City of Carlsbad’s Housing Element and Consolid
the Inclusionary Housing Ordinance, and the Carlsbad General Plan.
3. The request for City financial assistance will assist the affordable housing de
construct a total of five (5) for-sale, four bedroom, single family detached hou
The project, therefore, has the ability to effectively serve the City’s housing
priorities as expressed in the Housing Element and the Consolidated Plan.
4. That based on the information provided within the City Council Staff Repc
testimony presented during the public meeting of the City Council, the Ci
hereby APPROVES the Loan Agreement, Developer Promissory Note, Deve
of Trust and Security Agreement, Borrower Promissory Note, Borrower Dec
and Security Agreement, and Borrower Disclosure Statement between tl
Carlsbad and Heritage-Cliffs, LLC., in the amount of $75,000 to assist the c
of five (5) for-sale, four bedroom, single family detached housing units afford
income households.
5. That the City Council authorizes the City Manager or his designee to ’
documents related to provision of the City assistance, including but not limite
Agreement, Developer Promissory Note, Developer Deed of Trust an
Agreement, Borrower Promissory Note, Borrower Deed of Trust an1
Agreement, and Borrower Disclosure Statement, in substantially the form p
the City Council and subject to review and approval by the City Attorney.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City
the City of Carlsbad, California, held on the 3rd day of August , 1999 by the following Y
AYES:Council Members Lewis, Nygaard, Finnila, Hall & Kulc
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST: w x- Q& -
ALETHA L. RAUTENKRANZ, CITY CLERK j
,
w x- Q& -
ALETHA L. RAUTENKRANZ, CITY CLERK j
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