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HomeMy WebLinkAbout1996-02-06; City Council; 13504; APPROVAL OF PREPAYMENT AGREEMENT WITH WEST COAST LAND FUND, L.P., PARK VIEW WEST CT. 85-15APPROVAL OF PREPAYMENT AGREEMENT -3 WITH WEST COAST LAND FUND, L.P., PARK VIEW WEST CT. 85-15 DEPTm + DEP ClTl CITY d Lu Lg Iz B 2 \D 0-l \ cu \ 0 cu w [I] a h fi U 3 [II g w rd U 0 U a, a, h E a, c, *rl ..e a, * * z 0 F 0 a H v3 $ 8 z 3 RECOMMENDED ACTION: Adopt Resolution No. 5% - 50 authorizing the Mayor to execute Prepaymei Agreement with West Coast Land Fund, L.P. for CT 85-15. ITEM EXPLANATION: For the past several years, staff has been working with the property owners i Local Facilities Management Zone 11 and 12 to form a Community Facilitie District (CFD) to finance the construction of Rancho Santa Fe Road an Olivenhain Road improvements as required by the Local Facilities Managemer Plans for these zones. The creation of this district has been difficult an subject to delays because of the many issues affecting this area. Habit concerns, the local economy, and land ownership have proven to be some ( the more significant stumbling blocks to completing the district formation. This CFD (known as CFD No. 2) was intended to provide the property ownei and the City with a feasible financing tool which could guarantee that func would be available for the construction of Rancho Santa Fe Road and relate improvements when needed. The delay in formation of the district proved 1 be a major problem for some of the smaller property owners in the area wh had met all of the non-circulation conditions placed on their tentative maps. In late 1993, staff proposed the concept of allowing property owners to prepa their obligation under CFD No. 2 in exchange for an agreement. Thi agreement provides the City with: 1) the support of the property owner in th formation of CFD No. 2; and 2) funds to begin work on the most critic: portions of the Zone 11 and 12 circulation plan. Several agreements were approved with California Pacific Homes and Cente Real Estate Corporation during 1993 and 1994. The size and amount of fund received from each agreement is shown on the following page. Attached to this agenda bill is an additional prepayment agreement for l project located in Zone 11. This agreement is with West Coast Land Fund, I limited partnership, and is for the Park View West Project, a 131 unit singlc family residence project located on the East side of Rancho Santa Fe Roac between La Costa Avenue and Camino De Las Coches. This agreement woulc allow the Park View West project to proceed through the approval process b1 providing a means for meeting circulation system financing requirements founc in the tentative maps and Local Facilities Zone Plan. -4 e 0 - Page Two of Agenda Bill No. I gj 5c Y -* -& The agreement allows the developer to pay, prior to the approval of a fin map, a fixed fee for each unit included on that final map, thereby meeting tk obligation for those units to participate in the funding of the Zone 11 circulatic system. If CFD No. 2 has not been formed prior to pulling a building permit fc any of these units, an additional fee is paid to the City to ensure that adequai funds are available for road construction. When CFD No. 2 is finally formec the developer will receive a refund of any amount paid in excess of the per-ur cost of the improvements, or will provide the City with an additional paymei if the per-unit cost exceeds the amount already paid. By approving the agreement the Council will be making two significant finding First, the prepayment of the property owner’s fair share represents an adequa financing guarantee under the Growth Management Program. This finding based on the special case assumption that a CFD is in the formation proces and it is the CFD which actually provides the financing guarantee. And seconc the Council will find that the projects do not create a major impact on tk existing circulation facilities. The City Engineer agrees with these findings i they relate to these projects. FISCAL IMPACT: The funding of the Rancho Santa Fe and Olivenhain Road projects has be€ a major concern for the City for many years. The successful development a financing plan that will support the improvements to these roads through phased development program and a CFD under Council Policy 38 is significant accomplishment. The circulation projects will cost about $37 milk to construct (based on a 1993-94 estimate), and will affect the development the 2,400 acres of land in southeast Carlsbad. The City’s obligation for improvements is limited to the contribution of $6 millic from CFD No. 1 to these projects. The contribution will be timed to avo conflict with other projects funded by CFD No. 1. The City has participated funding some of the CFD No. 2 formation costs including limited engineerir and financial consultant fees. Council has previously appropriated funds cover these costs. The City will be reimbursed for these costs from CFD N 2 when funds become available. In prior prepayment agreements the Council has allowed California Pacil Homes and Centex to prepay $5.9 million for 576 units to be constructed Zone 11. The Park View West project addressed by this agenda bill represen an additional 131 units, and a prepayment of $1.3 million. The table belc summarizes the existing and proposed prepayment agreements: Proposed Agreement Project Units 2/06/96 Park Mew West CT 85-1 5 131 Total All Agreements 707 Prepayment Agreement 1,342,750 $7,246,750 b .L 1 2 3 4 5 6 ? 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 EXHl Bll 0 RESOLUTION NO. 96-50 0 A RESOLUTION OF THE CITY COUNCIL OF THE CITY C CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR T EXECUTE A PREPAYMENT AGREEMENT BETWEEN THE CITY C CARLSBAD AND WEST COAST LAND FUND L.P. FOR CT 85-15. WHEREAS, the City of Carlsbad City Council has required that tt- funding of Rancho Santa Fe Road and Olivenhain Road (Project) must t guaranteed before any development takes place in the area bounded by LOC Facilities Management Zones 11 and 12, and portions of Zone 6; and, WHEREAS, the Council had directed City staff to proceed with tt- formation of a Community Facilities District (CFD No. 2) to finance the Projec and , WHEREAS, although the Council anticipates that CFD No. 2 will b formed in the future, the Council is willing to consider alternative financin proposals during the period from the present to the formation date of CFD Nc 2; and, WHEREAS, such interim financing program will only be considered a long as the Council finds that the formation of CFD No. 2 is proceeding in reasonable manner; and, WHEREAS, the Council finds that the formation of CFD No. 2 i proceeding in a reasonable manner; and, WHEREAS, the Council finds that the guarantee provisions related to thl Project may be met through an interim financing program using an agreemer ._ 1 2 3 4 5 6 7 8 9 10 11 ' * 13 i4 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Q 0 between certain property owners and the City whereby the property ownc agrees to prepay his/her fair share of costs associated with the Project; an( WHEREAS, West Coast Land Fund, L.P. (West Coast) intends to buil a 131 -unit development in Local Facilities Management Zone 11, known 5 Park View West CT 85-15 and, 1 WHEREAS, the City Engineer has determined that, due to the size of tk West Coast development, there will be no major impact on the circulatic system at the present time if the West Coast development is allowed proceed; and, WHEREAS, the Council finds that West Coast may enter into tt- attached Agreement to Pay Fair Share (Exhibit A) in satisfaction of the obligation under the Project financing conditions. NOW THEREFORE BE IT RESOLVED by the City Council of the City ( Carlsbad, California, as follows: 1. 2. That the above recitations are true and correct. That the form of the PETITION, WAIVER AND CONSENT T CREATION OF A COMMUNITY FACILITIES DISTRICT AN AGREEMENT TO PAY FAIR SHARE, Exhibit A attached here tc is hereby approved. That the Mayor is hereby authorized to enter into the agreemer shown in Exhibit "A" with West Coast. The amount that is due and payable to the City by West Coa: prior to the recordation of a final map and shall be equal t $1,342,750 (131 units @ $10,250 per unit), with additionl payments to be made to the City as described in the attache 3. 4. .- r 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 a 0 agreement. West Coast may, at its discretion, present the Ci with final maps, as approved by the City Engineer and may pz the City for the proportional share of the amount due, z described in the attached agreement. PASSED, APPROVED AND ADOPTED at a regular meeting of the Cb Council on the 20th day of February , 1996, by the followin vote, to wit: AYES: Council Members Lewis, N NOES: None ABSENT: None ATTEST: ALETHA L. RAUTENKRANZ, city Clerk) (SEAL) - 0 e RECORDING REQUESTED BY AND ) - WHEN RECORDED MAIL TO: 1 City Clerk ) CllY OF CARLSBAD 1 1200 Carlsbad Village Drive 1 Carlsbad, CA 92008 1 SPACE ABOVETHIS LINE FOR RECORDER'S US1 Parcel Nos. 264-010- 21,22, 23 8t 25 PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNIN FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE CT 85-15 PARK VIEW WEST WHEREAS, the undersigned Property Owner at this time is processii for development within the City of Carlsbad (hereinafter referred to as "Cit a development project known and identified as Tentative Tract Map CT 85- (hereinafter referred to as the "Project"); and, WHEREAS, The legal description for project is shown on Attachmer "6" attached hereto; and, WHEREAS, City has determined this Project to be located within th boundaries of a proposed Community Facilities District known as Commui Facilities District No. 2 - Rancho Santa Fe and Olivenhain Road (hereina referred to as "District"); and, WHEREAS, District is intended to be formed to finance th improvements generally described in Section 1 herein; and, WHEREAS, Property Owner desires to proceed with processing pric the formation of District: and, I/ I1 * 0 e .- WHEREAS, the Local Facilities Management Plan for Zone 11 require the guarantee of construction of the segments of Rancho Santa Fe Road ar Olivenhain Road described in Section 1 herein prior to the recordation of ar final maps or the issuance of building permits within the zone; and, - WHEREAS, Condition No. 9,59 and 69 of Tentative Trace Map CT 85- (as amended by council resolution No. 81 68, 9/10/85) ("Conditions") requ that the Property Owner provide for the construction of certain pub improvements including sections of Rancho Santa Fe Road and Olivenh; Road; and, WHEREAS, compliance with the applicable Local Facilities Managemi Plans for Zone 11 and tentative map conditions is a condition of approval the final map for the Project; and WHEREAS, the city and Property Owner desire to agree to an altern method of financing the improvements described in Section 1 herein that allow Property Owner to discharge its fair share obligation for s improvements in lieu of participation in Distinct; and WHEREAS, the City Council agrees that Property Owner, upon enter into this agreement and upon payment of the fair share described herein, I met the requirement set forth in the Local Facilities Management Plan for LC Facilities Zone 11, and related Conditions to provide a financial guarantee the construction of those improvements described in Section 1 below; ar WHEREAS, Property Owner voluntarily enters into this agreement; E WHEREAS, the City Council has determined that due to the size 01 proposed development, there will be no major impact on the circulation sys at the present time if development of the Project is allowed to proceed - 0 e .e sufficient financial guarantees for future construction of Property Owner's fa share of the circulation improvements; .( NOW, THEREFORE, in consideration of proceeding with the processir of Project, the undersigned Property Owner hereby agrees and certifies to tt following: 1. Property Owner hereby petitions the City for the initiation proceedings for the formation of District which will cause the construction ai installation and/or financing of the following improvements which are genera described as follows: a) Rancho Santa Fe Road North Phase 1 (RSF No. 1) Costa Avenue to east of Mahr Reservoir b) Olivenhain Road Widening, and intersection improvemer at Olivenhain and El Camino Real c) Rancho Santa Fe Road North Phase 2 (RSF No. 2) Pha 1 End of Melrose Drive d) Rancho Santa Fe Road South (RSF So.) (Assurr Secondaw Arterial - Encinitas Citv Boundaw to Olivenhain Road F Improvements) 2. The cost of construction, engineering, legal and other incider expenses will be funded by the District. 3. Property Owner acknowledges its right to notice of i participation in all phases of formation under the "Mello-Roos Commui Facilities Act of 1982,'' expressly waives the proceedings required and limitations contained in Title 5, Division 2, Chapter 2.5 of the Califoi Government code and nonetheless with full knowledge of such rig' -_ e W : - completely and forever waives such rights. Specifically, Property owner herel consents to the proceedings and waives any right to protest the formation the District and the ordering of the improvements under applicable Califorr Statutes and consents to and supports formation of said District. The C shall exclude Property Owner from the District boundary map if, prior to t adoption of a Resolution of Intention by the City Council to form said Distri Property Owner has entered into this agreement and has paid to the city amounts due as described herein. d 4. a) Property Owner agrees to pay to City its fair share for 1 improvements described in Paragraph I. b) Said payment shall be made in the manner describec Attachment "A" Rate and Method for Determininq Fair Share Obliaai Rancho Santa Fe and Olivenhain Road, which is incorporated herein reference. c) The amount of Property Owner's fair share will conclusively determined by the City Council in the manner describec Attachment "AI attached hereto. d) Payment by Property Owner of its fair share of improvement costs as determined by City Council and set forth herein satisfy its obligations for the construction of the improvements describe Paragraph 1, as required by the Local Facilities Management Plan for Zon and related Conditions, subject to adjustment as described in Paragrapt- Alternatively, if the District is formed and Project is inck within it, Property Owner's obligations to pay its fair share pursuant tc agreement shall be satisfied upon payment of all taxes imposed, establi5 e) -_ 0 0 .- and payable to said District. I 5. Property Owner acknowledges that this agreement to pay its fz share and participate in the financing of improvements is voluntary and th without this agreement Property Owner would be precluded from obtainir final map approvals or building and other development permits under tl provisions of the General Plan, Chapter 21 .SO of the Carlsbad Municipal Cod applicable zone plan, financing plans and related documents until satisfactory financing program had been developed to fund the constructil of the improvements described in Section 1. 6. Property Owner hereby waives his right to challenge the amou establishment or imposition of said fair share and further waives any rights pay said fair share under protest. 7. This agreement does not affect, in any way whatsoever, ' obligation of Property Owner to pay any other fees or assessments associai with Property Owner's development. Nor does this agreement relieve Prop€ Owner from providing other public facilities required under conditions of Local Facilities Management Plan for Zone 11 or placed upon tentative TT CT 85-15 by the City. 8. Property Owner agrees that payment of its fair share is not a and waives any and all rights to notice of or challenges to the establishm or imposition of said fair share as a fee under provisions of Government Cc sections 66000 et sea., or any successor or related statutes. 9. a) If the District is formed subsequent to the payment Property Owner of the fair share pursuant to this agreement. Property Own financial obligation shall be recalculated using the taxing formula establis _1 a Q .-. for the District. If that obligation is different from the amount previously pz by Property Owner to City, City shall refund any excess, or Property Owner \ pay to City any additional amount due (Shortfall). b) Any refund shall be made from funds available wit1 District upon District formation and shall not be an obligation of City’s Gem Fund or other revenue sources. C) In the event that insufficient funds are available frc District’s resources, Property owners shall be reimbursed in the order in whi funds were deposited with City as soon as sufficient funds become availak as determined by the city Council, through the payment of onetime taxes annual undeveloped land taxes to the District. The City is not required establish an undeveloped land tax within the District to provide such refun d) No reimbursement is required until the City Cour determines that sufficient funds area available. Any refund to Property Owr shall not include interest. e) If a shortfall exists, Property Owner shall be notified oft amount of such Shortfall by the finance Director via certified mail. The amoi of said Shortfall shall be due and payable to City thirty (30) days after t mailing of such notice. 9 The computation of the amount of any Shortfall shall r include interest charges. g) If no payment of the Shortfall is made by Property Owr within thirty (30) days of notice of said Shortfall by the Finance Director, C may deny the issuance of building permits and/or take any other acti allowed by law to deny further development of property subject to tl L e e : - agreement and to collect such Shortfall including, but not limited to, a lien the property. City's recordation of a lien shall not affect its ability to recoj the Shortfall by other legal means concurrently, but no double recovery will allowed. The cost of such collection shall be an obligation of Property Owl and shall be added to the amount of the Shortfall payment due City. . h) Any payment received by the City under this agreem shall be deposited in a special fund and may only be used to fund construction of the facilities described herein. Upon the formation of a C to fund these same facilities any amount remaining in the special fund may transferred to the CFD fund, at the discretion of the Finance Director. 10. If the District has not been formed for any reason by Januan 1999, the amounts payable by Property Owner under this agreement s represent Property Owner's fair share cost for provision of those facili described in Paragraph 1 and no additional fee, assessment, or charge will due from or reimbursement due to Property Owner. 11. Compliance with this agreement will be accepted by City as alternate to the method described in the current Local Facilities Managerr Plan for Zone 11 for financing the improvements described in Paragrapl This agreement does not require City to issue building permits or o development permits or grant approvals or relieve Property Owner of obligation to comply with all applicable provisions of law, including but limited to, Carlsbad Municipal Code Titles 18,19,20, and 21. 12. Compliance with the provisions of this agreement is a condi of all future discretionary approvals for the Project. If Property Owner does comply with the provisions of this agreement, approval of the Project will -J a e * .I be consistent with the General Plan, the Growth Management Program, t Local Facilities Management Plan or the applicable financing plan for Zone and all subsequent discretionary approvals and permits for the Project shall withheld by City. 13. 1 In addition, the city will not approve any pending final mar issue grading, building or other development permits or take any discretion: action until the Property Owner has complied with the terms of this agreemc due to be satisfied at the time such approval is requested. 14. The City may, at its discretion, elect to pursue any remedy, le! or equitable against Property Owner and Property Owner’s successors, heii assigns, and tranferees, with the exception of owners of individual lots of whi building permits have been issued, to secure compliance with this agreeme City shall not, nor shall any officer or employee of City, be liat or responsible for any loss or damage incurred by Property Owner or ai successor or assign of Property Owner, or by any occupant in Propel Owner’s buildings, as a result of the exercise of any remedies provided to C in this agreement. Property Owner agrees to indemnify City for any liabiliti incurred by City as a result of City’s exercise of these remedies. 15. 16. This agreement and the covenants contained herein shall t binding upon and inure to the benefit of the successors, heirs, assigns ar transferees of Property Owner and City and shall run with the real property ai create an equitable servitude upon the real property. 17. All notices provided for under this agreement shall be in writii and shall be delivered in person or serve by certified mail postage prepai Delivery of notice to Property owner shall be presumed to have been made ( -J m e -1 the date of mailing regardless of receipt by Property Owner. Notices requirc to be given to Property Owner shall be addressed as follows: .a - Bill Alien West Coast Land fund L.P. 1999 Avenue of the Stars Suite 1200 Los Angeles, CA 90067 Notices to the City shall be delivered to the Finance Director, City Carlsbad, 1200 Carlsbad Village Drive, Carlsbad, CA 92008. Each party shall notify the other immediately of any change that WOL require any notice delivered hereunder to be directed to another party. 18. This agreement shall be recorded but shall not create a lien security interest in the property. 19. The undersigned further states, under penalty of perjury, that I is the owner of the property as described herein, or an authorized agent of tl owner, and has the authority to execute this document, including the bindir authorizations herein. Executed this da day of 9%. , 1996. CITY OF CARLSBAD, a municipal corporation of the State of California. ATTEST : ' e a _- .- - (Notarial acknowledgement of execution by PROPERTY OWNER must attached . ) (President or vice-president and secretary or assistant secretary must sign * corporations. If only one officer signs, the corporation must attach a resoluti certified by the secretary or assistant secretary under corporate SI empowering that officer to bind the corporation.) 19 APPROVED AS TO FORM: RONALD R. BALL City Attorney 3 By: Assistant City ttor y PROPERTY OWNER WEST COAST LAND FUND, L.P., a Delaware limited partnership, doing business in California as WCLF, L.P. By: West Coast Equity, L.P., hL a Delaware limited partnership, its general partner By: CITCG, L.P., a Delaware limited partnership, its general partner By: Colony Investment Partnership Ill-NLF, L.P., a Delaware limited partnership, its general partner By: Colony GP-NLF, L.P. a Delaware limited partnership its general partner By: Tobar - properties, ~nc. a Californi corporation, its genfFr c fi By: Name: Kevin C. McTavlsh Title: vice President 0 0 -- P ._ -i S.S. STATE OF CALIFORNIA 1 1 COUNTY OF LOS ANGELES ) On & r{ 23 , 1996 before me, ,Am R/I- k!-h a Notary Public in a'nd for said state, personally appeared J to I personallv-known to me (i the person whose name is subscribed to the within instrument and acknowledged t me that he executed the same in his authorized capacity, and that by his signaturei on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. t Kt,d I r? ed WTLifi--& WITNESS my hand and official seal. Signature A 0 ATTACHMENT "A" 0 -,. I ': p RATE AND METHOD FOR DETERMINING FAIR SHARE OBLIGATION RANCHO SANTA FE ROAD AND OLIVENHAIN ROAD The City Council shall use the following rate and method for determining t fair share obligation for funding the construction of Rancho Santa Fe Road a Olivenhain road due from property conditioned to participate in the financi of these facilities. This calculation is done as part of an agreement tit1 PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNI FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE (Agreeme which has been voluntarily entered into by the City of Carlsbad and cedi property owners wishing to proceed with the development of their property advance of the creation of Community Facilities District No. 2 (CFD No. 2). is the City and property owners intent to form CFD No. 2 to provide fundi1 for those improvements described within the above referenced agreement. The following rate and method shall be used to determine the fair share a amount due from any property owner wishing to take advantage of tl alternate funding mechanism. Basis for Cost Allocation The basis for allocation of costs to property conditioned with the financing the improvements described in the Agreement shall be the Equivalent Dwelli Unit (EDU) which is defined as follows for residential developments: Residential EDU Allocation Single Family - Detached Units 1.0 EDU Single Family - Attached Units 0.8 EDU Multi Family Units 0,6 EDU The number of each type of unit included in a development shall determined by the City Engineer based on the most recent final map submitt to the City for approval. The EDU determination for non-residential development shall be made by t City Engineer when such a determination is requested by the property own The City Engineer may request additional information from any property owr as may be necessary to make his determination. The City Engineer is r required to make a determination on the number of EDUs for any project UI adequate information is available. 0 0 $. t The City Engineer's determination shall be submitted to the City Council in tt ':c staff report accompanying the Agreement. The City Council shall make tl final determination of the number of EDUs to be used in computing the f; share obligation for any project. Fair Share Amount and Method of Payment The City shall collect $13,290 for each EDU as determined by the City Counc This amount shall be collected in two separate payments, $10,250 per EDU be paid as described below, and $3,040 per EDU at the time a building pern is issued. The manner of payment is more fully described below. The Property Owner shall pay their fair share to the City of Carlsbad in ti following manner. 1) Because the Property Owner may, at his/her discretion, divic the Project into phases, requiring the approval of multiple fir maps, the Property Owner shall, upon execution of tt agreement, provide the City with a Letter of Credit from financial institution acceptable to the Finance Director, for ti amount shown on the table below, less any amount paid und the agreement. Following execution of the Agreement to Pay Fair Share, ar prior to the approval of a final map by the City Council, tb Property Owner shall pay to the City an amount equal to th number of EDUs included in said final map, as determined t the City Engineer, times $10,250 for all units included on tt subject final map. If the City Council determines that the Ci Engineer's calculation of the number of EDUs included on tl final map is in error, the Council shall direct the City Engineer to amend his calculatior and direct staff to bring the final map back for approval whe such correction has been made. The Property Owner shall reta the right to phase the approval of final maps as allowed by tk City Engineer, and shall only be required to pay the obligation fc those units receiving final approval. a) b) c) The Property Owner shall pay the amounts due for eac successive phase prior to the approval of each final map. Th Finance Director may authorize a reduction in the amount of th Letter of Credit following such subsequent payments. m 0 .- 9 SECRETARY'S CERTIFICATE I, the undersigned, hereby certify: 1. That I am the duly elected, acting and qualified Assistant Secretary of TOBAR Properties, Inc., a California corporation ("the Corporation"), managing gener partner of ColonyGP-NLF, L.P., a Delaware limited partnership, general partner of Colony Investment Partnership Ill-NLF, L.P., a Delaware limited partnership, general partner of CITCG, L.P., a Delaware limited partnership, general partner of West Coas Equity, L.P., a Delaware limited partnership, general partner of West Coast Land Fun L.P., a Delaware limited partnership; and 2. That Kevin C. McTavish is the duly elected Vice President of the Corporation and that he is authorized and empowered to execute, on behalf of the Corporation in its general partner capacity described above, any and all documents, including the Petition, Waiver and Consent to Creation of a Community Facilities District and Agreement to Pay Fair Share of CT 85-15 Park View West attached heret IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the se of the Corporation this 23kL day of April, 1996. Linda Leahy / Assistant Secretary unacoawcup PARKVIEVV WEST AITACHM ENT "B" I? 0 a .E LEGAL DESCRl PTl ON PARCEL 1 OF PARCEL MAP NO. 13524, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, OCTOBER 25, 1984, AS FILE NO. 84-403293 OF OFFICIAL RECORDS. Type of Unit Single Family - detached units Single Family - attached units Multifamily Units TOTAL EDU per Cost per Units Amount Du unit unit Covered by Agreement 1 .o $1 0,250 131 $l,342,75C 0.8 8,200 --- _-I_ 0.6 6,150 --- --- 131 $1,347.75(