HomeMy WebLinkAbout1999-08-10; City Council; Resolution 99-283W m
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RESOLUTION NO. 99- 3 83
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING THE
EXPENDITURE OF AN AMOUNT NOT TO EXCEED $404,592
FROM THE HOUSING TRUST FUND TO ASSIST LOWER
INCOME HOUSEHOLDS TO PURCHASE INDIVIDUAL
SPACES WITHIN THE RANCHO CARLSBAD MOBILEHOME
PARK.
WHEREAS, the Carlsbad Residents Association previously applied to the Califomi
Department of Housing and Community Development for Mobilehome Park Resident Ownershi
Program (MPROP) funding; and
WHEREAS, the Carlsbad Residents Association received approximately $532,000 i
MPROP funding; and
WHEREAS, on August 5, 1997, the City of Carlsbad City Council approved a reque;
from the Carlsbad Residents Association for financial assistance in a maximum amount up 1
$446,408 from the City of Carlsbad Housing Trust Fund for the purpose of assisting lower incorr
households to purchase individual mobilehome sites located within the Rancho Carlsba
Mobilehome Park; and
WHEREAS, the amount of State and City funding previously received by the Carlsba
Residents Association is not adequate to fund all eligible low income households seeking financi;
assistance; and
WHEREAS, the Carlsbad Residents Association has requested additional financi
assistance in an amount not to exceed $404,592 from the City of Carlsbad to assist an addition
nine low income households to purchase their individual mobilehome sites located within tl
Rancho Carlsbad Mobilehome Park; and
WHEREAS, the Carlsbad Residents Association has indicated that it will also requesl
additional MPROP funding in the amount of $383,000 to assist said additional nine low income
households to purchase their individual mobilehome sites located within the Rancho Carlsbad
Mobilehome Park; and
I
e a
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WHEREAS, the City Council held a public meeting to consider the Carlsba
Residents Association’s request for additional financial assistance to assist an additional nine low
income households to purchase their individual mobilehome sites located within the Ranch’
Carlsbad Mobilehome Park; and
WHEREAS, at said public meeting, upon hearing and considering all testimony, if an!
of all persons designing to be heard, said Council considered all factors relating to the request fc
additional financial assistance:
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of
Carlsbad, California, as follows:
1. The above recitations are true and correct.
2. The request for City financial assistance is consistent with the goals and objectives c
the City of Carlsbad’s Housing Element, the Consolidated Plan, and the Carlsba
General Plan.
3. That based on the information provided within the City Council Staff Report, th
testimony presented during the public meeting of the City Council, and the Conditions c
Approval contained herein, the City Council hereby AUTHORIZES the Financ
Director to appropriate an additional $404,592 from the City of Carlsbad’s Housin;
Trust Fund for the purpose of providing non-interest bearing deferred second trust deec
loans in a total additional amount not to exceed $404,592 to Residents within thl
Rancho Carlsbad Mobilehome Park to assist additional lower income households in th
acquisition of individual mobilehome spaces located within the Rancho Carlsbal
Mobilehome Park.
4. The City Council hereby AUTHORIZES the City Manager or his designee to execut
such documents, or take other actions as may be necessary or appropriate to allow th
City and the Carlsbad Residents Association to receive MPROP funding and to assis
additional lower income households in the acquisition of individual mobilehome space
located within the Rancho Carlsbad Mobilehome Park.
5. The City Council hereby AUTHORIZES the City Manager or his or her designee t
execute all documents related to provision of the City assistance, including but nc
limited to a Loan Agreement, Note, Deed of Trust and Regulatory Agreement, subject tc
review and approval by the City Attorney.
General Conditions:
1. Financial assistance in an additional amount not to exceed $404,592 from the City o
Carlsbad Housing Trust Fund will be made available to provide non-interest bearini
deferred second trust loans to additional low income households purchasing space:
within the Rancho Carlsbad Mobilehome Park. The maximum loan amount per
CC RESO. NO.
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individual borrower will be determined by the need of the individual borrower basec
upon the ability to secure funding fi-om the MPROP funds and private conventiona
financing. The City loan will be secured by a Deed of Trust and Promissory Note fo
the property on behalf of the City of Carlsbad.
2. Repayment of any and all of the loan principal will be required upon the date of sale
transfer or refinance of the property.
3. City financial assistance shall be contingent upon the Carlsbad Residents Association firs
receiving MPROP financial assistance from the State of California. If the Carlsbal
Residents Association does not receive MPROP funding, the City’s commitment t
provide additional financial assistance shall become null and void.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of thc
City of Carlsbad, California, held on the 10th day of August 1999, by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Finnila, Hall & Kulchin
NOES: None
ABSENT: None
ABSTAIN: None
l7 11 ATTEST:
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