HomeMy WebLinkAbout2007-08-14; City Council; Resolution 2007-225Exhibit 1
1 RESOLUTION NO. 2007-225
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
3 CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO
EXECUTE A PREPAYMENT AGREEMENT BETWEEN THE CITY
4 OF CARLSBAD AND WESTERN PACIFIC HOUSING, INC. FOR
THE LA COSTA RIDGE 2.6, CT 05-13o
6 WHEREAS, the City of Carlsbad City Council has required that the funding of
7 Rancho Santa Fe Road and Olivenhain Road (Project) must be guaranteed before any
8 development takes place in the area bounded by Local Facilities Management Zones
9 11 and 12, and portions of Zone 6; and
I ° WHEREAS, the Council has directed City staff to proceed with the formation of a
I1 Community Facilities District (CFD No. 2) to finance the Project when needed; and
12 WHEREAS, the Council is willing to consider alternative financing proposals
13 during the period from the present to the formation date of CFD No. 2; and
14 WHEREAS, the Council finds that the guarantee provisions related to the Project
15 may be met through an interim financing program using an agreement between certain
16 property owners and the City whereby the property owner agrees to prepay his/her fair
17 share of costs associated with the Project; and
18 WHEREAS, Western Pacific Housing, Inc. intends to build 53 detached
19 airspace condominium units in Local Facilities Management Zone 11 identified as CT
20 05-13; and
21 WHEREAS, the City Engineer has determined that, due to the size of the
22 residential development, there will be no major impact on the circulation system at the
23 present time if the development is allowed to proceed; and,
2^ WHEREAS, the Council finds that Western Pacific Housing, Inc. may enter into
25 the attached Agreement to Pay Fair Share in satisfaction of their obligation under the
2® Project financing conditions.
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Exhibit 1
1 NOW THEREFORE BE IT RESOLVED by the City Council of the City of
2 Carlsbad, California, as follows:
3 1. That the above recitations are true and correct.
4 2. That the Mayor is hereby authorized to enter into the attached agreement
5 entitled "Petition, Waiver and Consent to Creation of a Community Facilities District and
6 Agreement to Pay Fair Share" between the City of Carlsbad and Western Pacific
7 Housing, Inc.
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PASSED, APPROVED AND ADOPTED at
of the City of Carlsbad on the 14th day of August,
AYES: Council Members Lewis, Kulchin, Hall,
NOES: None
ABSENT: None
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IM,,urnCLAUDE
ATTEST:
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a Regular Meeting of the City Council
2007, by the following vote to wit:
Packard, Nygaard
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