HomeMy WebLinkAbout2001-01-09; City Council; Resolution 2001-101
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RESOLUTION NO. 2001-10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, AUTHORIZING THE EXECUTION OF
A PETITION, WAIVER AND CONSENT TO CREATION OF A
COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY
FAIR SHARE COST OF CT 90-03 WITH CONTINENTAL
RESIDENTIAL, INC., A CALIFORNIA CORPORATION.
WHEREAS, the City of Carlsbad City Council (the “Council”) has required that the
funding of improvements to segments of Ranch0 Santa Fe Road and Olivenhain Road (the
“Improvements”) must be guaranteed before any development takes place in the area
bounded by Local Facilities Management Zones 11 and 12, and portions of Zone 6; and
WHEREAS, the Council has directed City staff to proceed with the formation of a
Community Facilities District (CFD No. 2) to finance the Improvements; and
WHEREAS, although the Council anticipates that CFD No. 2 will be formed in the future,
the Council is willing to consider alternative financing proposals during the period from the
present to the formation date of CFD No. 2; and
WHEREAS, the Council finds that the guarantee provisions related to the Improvements
may be met through an interim financing program using an agreement between certain property
owners and the City whereby the property owner agrees to prepay his/her fair share of costs
associated with the Improvements; and
WHEREAS, Continental Residential, Inc. intends to build a 218 unit development in Local
Facilities Management Zone 11 known as Units 2, 3 and 4 of the Shelley Property, CT 90-03,
and
WHEREAS, the City Engineer has determined that the Shelley development, as
conditioned to construct a portion of the Improvements and to pay their fair share cost of the
Improvements, will not create a major impact on the circulation system at the present time if the
Shelley development is allowed to proceed; and
WHEREAS, the Council finds that Continental Residential, Inc. may enter into the
attached Agreement to Pay Fair Share [Exhibit A (Continental), attached hereto] in satisfaction of
their obligation under the financing conditions for the Improvements.
Ill
1 NOW THEREFORE BE IT RESOLVED by the City Council of the City of Carlsbad, California, as
2 follows: II
3 1. That the above recitations are true and correct.
2. 4 That the “PETITION, WAIVER AND CONSENT TO CREATION OF A
COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE 5 COST OF CT 90-03”, Exhibit A (Continental) attached hereto, is hereby approved.
6 3. That the Mayor is hereby authorized to execute the agreement attached as Exhibit
7 A (Continental) with Continental Residential, Inc., a California Corporation.
8 4. That the City Clerk is hereby authorized to cause the agreement attached as
9 Exhibit A (Continental) to be recorded in the Office of the County Recorder of San
10 Diego County, State of California, after the Mayor has executed said agreement.
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12 PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City Council
13 held on the 9th day of January , 2001 by the following vote, to wit:
14 AYES: Council Members Lewis, Kulchin, Finnila, Nygaard and Hall.
NOES: None
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19 YYWV' " CLAUDE A. LEWI , Mayor
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WOOD, City Clerk
II RESOLUTION NO. 2001-10 PG 2