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Home My WebLink About1997-03-04; City Council; 14070; Rancho Santa Fe Road Financing Program Amended CFD #2 Prepayment Agreement California Pacific Homes and Greystone Homes8 Y a 9 * fx a 2 z 0 F o a 6 5 0 0 bl vr LAHLSBAU - Auk I- A DILL I /1 J AB # /< b 70 &: RANCHO SmTA m Rom mm%G PROGRAM DE AMENDED CFD #2 PREPAYMENT AGREEMENT CALIFORNIA PACIFIC HOMES AND GREYSTONE CI1 HOMES cn MTG. 3/4/97 DEPT. CM RECOMMENDED ACTION: I 8RI 6IdA-L F--uu 'IV 73-85 -5 1. prepayment agreement with California Pacific Homes for CT 85-9. 2. prepayment agreement with Greystone Homes for CT 85 - 15 . ITEM EXPLANATION Since 1986 the staff has been working in earnest with the property owners in the Ranchc Fe Road area to find a way to finance the improvements necessary to meet the conditions various tentative maps and Local Facilities Management Plans in southeast Carlsbad preferred financing plan has consistently been the formation of Community Facilities I (CFD) #2, a financing district that would assess taxes against the developers in the arc have the power to issue bonds in the event that the road needed to be constructed prior receipt of sufficient funds by the City. The formation of CFD#2 stalled due to the inab Fieldstone, the primary property owner in the area to support the financing plan. In September of 1993 the staff proposed that the City Council accept the prepayment of ( taxes from certain smaller property developers who's developments would not signif impact the amount of traffic on Rancho Santa Fe Road. Council has since approved these agreements - one with California Pacific Homes, three with Centex Homes, and or Parkview West/Greystone Homes. Under these agreements the developer pays $10,2. unit to the City at the time the final map is approved by the City Council. The develop( pays an additional $3,040 to the City each time a building permit is pulled. The purpose additional $3,040 payment was to assure that the City would have sufficient funds to cor the road should CFD#2 not be fohed in time to finance improvements to Rancho Sal Road should they be needed. In December 1996 the City Council approved a complete financing plan for Rancho Sa Road which included an agreement with Bank of AmericaNillages of La Costa (VLC). agreement required VLC to pay $10,250 per unit at the time any final map is appro' Rancho Santa Fe Road area, and that VLC post a bond with the City that provides funds event that road improvements are required in advance of the receipt of funds from CFI cash payments under prepayment agreements. As part of the agreement with VLC, the City expressed its desire to place all developers Rancho Santa Fe Road area on the same fiscal footing. This requires the amendment five existing prepayment agreements to do the following: 1) Eliminate the requirement that an additional payment of $3,040 be paid at the til 2) Refund amounts received from the payment of this additional $3,040 from prior develc 3) Provide a system to refund excess revenues received under the financing program, i 4) Eliminate the conditions in the existing agreement that require the developer to r subject to future assessments should the cost of the road improvements exceed the received from the financing program Adopt Resolution No. ~7-f~authorizing the Mayor to sign the amended CFD Adopt Resolution No. YY-fd authorizing the Mayor to sign the amended CFD building permit, that the City upon completion of the road improvements Project EDU Number CostPer Total Amount Paid Due Buil Per Unit of Units Unit ? 1 0 0 Page Three of Agenda Bill No. /e070 Since 1993 the City has received a total of $991,040 from CFD#2 prepayment fees fi developers from payments made at building permit. In additional to payments m building permit, the city has received $9.5 million from payments made under agreements which is currently being used to fund roadway design and construction, Th above summarizes these revenues. The agreement attached to this agenda bill will au the refund of $310,080 to California Pacific Homes, and $54,720 to Greystone Homes. refhnd of these amounts will not affect the City’s ability to finance Rancho Santa Fe R currently designed. EXHIBITS 1. Facilities District and Agreement to Pay Fair Share attached. 2. Facilities District and Agreement to Pay Fair Share attached. Resolution No. 97- fswith Petition, Waiver and Consent to Creation of a Comn Resolution No. 97-Pd with Petition, Waiver and Consent to Creation of a Corm - L I f r 1 2 3 4 5 6 7 8 9 10 'I 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 e e RESOLUTION NO. 97-85 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA LTHORiZiNG THE MAYOR TO EXECUTE A AMENDED AGREEMENT WITH ,CALIFORNIA PACIFIC HOMES PROVIDING FOR THE PREPAYMENT OF CFD#2 TAX FOR CT 85-9 Whereas, the City Council has approved a financing program for Ranct Santa Fe Road which includes the intended formation of a Community Facilit District (CFD#2), and Whereas, the City Council has previously approved agreements with CALIFORNIA PACIFIC Homes allowing for the prepayment of taxes to be assessed under CFD#2 as an acceptable form of interim financing for Ranchc Santa Fe Road as required by various tentative map conditions for CT 85-9, Whereas, the approval of the amended agreement will not affect the C ability to finance the needed improvements on Rancho Santa Fe Road. NOW, THEREFORE BE IT RESOLVED by the City Council of the City o Carlsbad, California as follows: 1. 2. CREATION OF A COMMUNITY FACILITIES DISTRICT, AGREEMENT TO PAY SHARE, AND RELEASE OF PRIOR OBLIGATION, Attachment 1 attached he is hereby approved. 3. 4. with the San Diego County Recorder's office upon execution. That the above recitations are true and correct. That the form of the revised PETITION, WAIVER AND CONSENT TO That the Mayor is hereby authorized to enter into the attached agreerr The City Clerk is authorized and directed to record the attached agree PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council day of March AYES: Council Members Lewis, Finn , 1997 by the following vote, to wi NOES: None ABSENT: None ATTEST: (SEAL) l2QQxLR 62LA&&- ALETHA L. RAUTkNKkANZ, City Clerk I 1 RECORDING REQUE QlbBYAND 0 1 WHEN RECORDED MAk TO: City Clerk CITY OF CARLSBAD 1200 Carlsbad Village Drive Carlsbad, CA 92008 Space Above This Line for Recorder’s I PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNITY FACILITIES DISTRICT, AGREEMENT TO PAY FAIR SHARE, AND RELEASE OF PRIOR OBLIGATION ’ WHEREAS, the undersigned, California Pacific Homes, (“Property Ow processing, or has processed, for development with the City of Carlsbad (hereinafter rel as “City”) a development project known and identified as Tentative Tract Map C (hereinafter referred to as the “Project”); and WHEREAS, the legal deskption for the Project is shown on Exhibit “B” : hereto; and, WHEREAS, City has determined this Project is located within the boundari proposed Community Facilities Distnct known as Community Facilities District 1 Rancho Santa Fe and Olivenhain Road (hereinafter referred to as “Distnct”); and, WHEREAS, District is intended to be formed to finance those improvements g( described in Section 1 herein and in the amount set forth in the Improvements Budget i hereto marked Exhibit “C” (hereinafter “‘Improvements Budget”); and, I r WHEREASBoperty Owner desires to proceed wit A ocessing prior to the f; of District; and, WHEREAS, various conditions of the Tentative Tract Map for the Project reqi the Property Owner provide for or participate in the construction of certaii improvements including sections of Rancho Santa Fe Road; and, WHEREAS, the compliance with tentative map conditions is a Condition of for the final map for the Project; and, WHEREAS, the City and Property Owner desire to agree to an alternative m financing the improvements described in Section 1 herein that will allow Property ( discharge its fair share and obligation for said improvements in lieu of, or in anticip participation in District; and, - WHEREAS, the City Council agrees that Property Owner, upon entering i agreement and upon payment of the fair share described herein, has met the require1 forth in the tentative map conditions requiring the Project to provide a financial guarz the construction of those improvements described in Section 1 below; and, WHEREAS the City and Property Owner have previously entered into agreement providing for prepayment for said Improvements by which Property Owner I -paid its obligation, and the parties wish to supersede those agreements with this ag providing for a special refund; and, I r WHEREASeperty Owner voluntarily enters into 8 s agreement with respec Project: and, WHEREAS, the City Council has determined that due to the size of the p development, there will be no major impact on the circulation system at the presenl development of the Project is allowed to proceed with sufficient financial guarantees fc construction of Property Owner’s fair share of the circulation improvements; NOW, THEREFORE, in consideration of proceeding with the processing of the undersigned Property Owner and City hereby agree and certify to the following: - 1. Property Owner hereby petitions the City for the initiation of the pro( for the formation of District which will cause the construction and installation andor fi of the following improvements (hereinafter “Improvements’’) which are generally desc follows: d a) Rancho Santa Fe Road North Phase 1 (RSF No.1) La Costa Ai east of Mahr Reservoir. b) Olivenhain Road Widening, and intersection improvemc Olivenhain and El Camino Real. c) Rancho Santa Fe Road North Phase 2 (RSF No.2) Phase 1 Melrose Drive. d) Rancho Santa Fe Road South (RSF So.) (Assumes Secondary Standard - Encinitas City Boundary to Olivenhain Road Full Improvements). 1 r @! 2. Thast of construction, engineering, enviro ental mitigation, legal i incidental expenses as set forth in the Improvements Budget will be funded by the Disl 3. Property Owner has previously acknowledged by entering into I Agreement, as defined in Paragraph 9, its right to notice of and participation in all 1 formation under the “Mello-Roos Community Facilities Act of 1982,” and has I waived the proceedings required and all limitations contained in Title 5, Division 2, 2.5 of the California Government Code and nonetheless with full knowledge of su( completely and forever waives such rights. Specifically, Property Owner has conseni proceedings and waives any right to protest the formation of the District and the orderi improvements under applicable California statutes and consented to and continues tc formation of said District with respect to the Project. The City shall exclude the Pro; the District boundary map if, prior to the adoption of a Resolution of Intention by Council to form said District, Property Owner has entered into this agreement and ha the city all amounts due as described herein. -. 6 4. a) Property Owner agrees to pay to City, or provide, its fair shar Improvements described in Section 1. b) Said payment, or provision, shall be made in the manner des( Exhibit “A”, Rate and Method for Determining Fair Share Obligation Rancho Santi Olivenhain road, which is incorporated herein by reference. c) The amount of Property Owner’s fair share will be con1 determined by the City Council in the manner described in Exhibit “A” attached heretc I 1 d) .payment by Property Owner of its f a hare of all costs as de by City Council and set forth herein will satisfy its obligations for the constructic Improvements described in Section 1, as required by the Tentative Map for the Projec condition applies to the Project, subject to adjustment as described in Section 10 herein e) Alternatively, if the District is formed and Project is included \ Property Owner’s obligations to pay its fair share pursuant to this agreement shall be upon payment of all taxes imposed, established and payable to said District. 5. Property Owner acknowledges that this agreement to pay its fair SI participate in the financing of improvements is voluntary and that without this ai Property Owner would be precluded from obtaining final map approvals or building a development permits under the provisions of the General Plan, Chapter 21.90 of the ( Municipal Code, applicable zone plan, financing plans and related documents permil the provisions of the General Plan, Chapter 2 1.90 of the Carlsbad Municipal Code, ap zone plan, financing plans and related documents until a satisfactory financing prog been developed to fund the construction of the Improvements described in Section 1. - 6. Property owner hereby waives his right to challenge the amount, establi or imposition of said fair share and further waives any rights to pay said fair sharl protest. 7. This agreement does not affect, in any way whatsoever, the obliga Property Owner to pay any other fees or assessments associated with Property C development andor to post improvement bonds as required by the City Engineer. N I f this agreement reli f@ Property owner fi-om providing 0th 8 ublic facilities require conditions placed upon the Project by the applicable tentative map conditions. 8. Property Owner agrees that payment of its fair share is not a fee and wa and all rights to notice of or challenges to the establishment or imposition of said fair sf fee under provisions of Government Code section 66000 et sea.. or any successor ox statutes. 9 a) The City and Property Owner hereby agree that this agreement supersel prior written agreement between the City and Property Owner concerning Property C fair share obligation for the Project covered by this Agreement (‘‘Prior Agreement”), if a - b) The City acknowledges that, prior to December 10, 1996, the unde Property Owner had paid to the city excess fair share payments totaling $310,080 (102 family units times $3,040 per unit) (the “Excess Fair Share Payments”) pursuant following Prior Agreement beh4een the City and Property Owner covering the F developed by Property Owner in Carlsbad: Petition, Waiver and Consent to Creatioi Community Facilities District and Agreement to Pay Fair Share dated March 19 (covering Tentative Tract Map CT 85-15); c) City hereby agrees to refund to Property Owner, by check, the total amc Excess Fair Share Payments. I d 10) a) @f the District is formed subsequent t e Payment by proper of the fair share pursuant to this agreement, Property Owner’s financial obligation recalculated using the taxing formula established for the District for the Imprl described in Paragraph 1. If that obligation is lower than the amount previousl! provided by Property Owner to City, City shall additionally refund any newly c excess, in the manner described below. b) Any refund shall be made from funds available within District upor formation and shall not be an obligation of city’s General Fund or other revenue sourcf c) In the event that insufficient finds are available from District’s r Property Owner shall be reimbursed in the order in which funds were deposited wit soon as sufficient funds become available, as determined by the City Council, thr payment of one-time taxes or annual undeveloped land taxes to the Distnct. The c required to establish an undeveloped land tax within the District to provide such refund & d d) No reimbursement is required until the City Council determines that s funds are available. hy refund to Property Owner shall not include interest. e) Any payment received by the City under this or similar agreements w parties shall be deposited in a special interest bearing fund and may only be used to improvement cost of the facilities described herein. Upon the formation of a CFD to fu same Improvements, any amount remaining in the special fhnd may be transferred to fund, at the discretion of the Finance Director. t I tm Q 11. Up0 “ompletion of the Improvements, a recording of the n completion for the final phase of the Improvements, the City Engineer shall determine cost of all phases of the Improvements and all related work (“Costs”), and the Director shall determine the total amount of revenue including fees, taxes, interest e; funds restricted to use only on the Improvements, and other sources of hnds receive City dedicated to paying for the construction of the Improvements (“Revenues”). The Director shall then compare the amount of Costs and Revenues to determine if there excess Revenues as described below. If excess Revenues of more than $100,000 e Finance Director shall provide refunds to a11 eligible parties of all excess Revenue amount and in the manner described below. If excess Revenues are equal to, or 11 $100,000 the City shall retain these funds in a special fund to be used to finance stree maintenance, and landscaping within the Improvements. - a) The total amount of excess Revenues shall be determined by deduc amount of the project Costs from the avaiIable Revenues. Total project Costs shalI inc costs to plan, design, construcr, mitigate environmental impacts, inspect, and ot complete the project to the satisfaction of the City Engineer, including applicable cha City staff services. Total Revenues shall include all monies held by the City de exclusively to the construction of the Improvements including any fee revenues earma the Project, CFD #2 taxes, applicable CFD #1 taxes, grants, and interest earned on rc funds as determined by the Finance Director. b) The amount of the refund due to any party shall be based on the propoi that party’s payments under this agreement based on its’ proportional share of Eqi Dwelling Units (“EDUs”) constructed or to be constructed by that party, weighted as de in Exhibit A, divided by the total number of EDUs constructed or to be constructed witt l e participating in, CF db 2 and/or this agreement. The mount the rehd shall be de by multiplying the proportional share computed above by the total amount of excess re c) In order to share in the refund of any portion of the excess Rever eligible par@ must request to be included in the distribution of funds. Such request made within 90 days after the City Council’s acceptance of the Notice of Completior final phase of the Improvements. Each request must be accompanied by documents in clear title to the rehnd unless the request is being made by the party which originally City pursuant to this agreement or paid taxes to CFD #2. d) The Finance Director shall compute the amount of the refund due each described above. Funds may be disbursed to the eligible parties following Council app such refunds. e) If the City does not receive requests for rehd from all eligible partie: the specified period, and all fufids cannot be disbursed as provided by ths sectil remaining funds shall be held in a special fund to be used to support road and rr maintenance in and around the Improvements area, as determined to be necessary by t Engineer, and approved by the City Council. ‘ f) As a courtesy to all interested parties, the City will maintain a file c individuals or companies entitled to a refund, and will mail notices of refund availabilit names and addresses in this file following the City Council’s acceptance of the final Nc Completion. It is the eligible party’s responsibility to notify the City if the rights refunds under this section are assigned to another party, or if there is a change in n address for the eligible party. The City takes no responsibility for the accuracy , @ information incfude CI) n this file, and is under no obligation locate persons or enti are entitled to refunds. Failure to notif) any party of the avaiiability of excess Reven not obligate the City in any way to extend or modify the above refimd procedures. 12. Compliance with the Prior Agreement was accepted by City as an altr the method described in the current Local Facilities Management Plans for local Management Zones 6, 11 and 12 for financing the Improvements described in Para Neither the Prior Agreement nor this agreement requires the City to issue building pr other development permits or grant approvals or relieve Property Owner of the oblii comply with all applicable provisions of law, including but not limited to Carlsbad M Code Titles 18, 19, 20 and 21. 13. Compliance with the provisions of this agreement is a condition of a, discretionary approval for the Improvements. If Property Owner does not comply 7 provisions of this agreement, approval of the Project will not be consistent with the 1 Plan, the Growth Management P;ogram, and the Local Facilities Management Plan, subsequent discretionary approvals and permits for the Project may be withheld by City 14. In addition, the City will not approve any pending final maps, issue g building or other development permits or take any discretionary action until the P Owner has complied with the terms of this agreement due to be satisfied at the tin approval is required. 15. The City may, at its discretion, elect to pursue any remedy, legal or eq against Property Owner and Property Owner’s successors, heirs, assigns, and transferee: Project to secure compliance with this agreement. , 0 0 16. City shall not, nor shall any officer or employee of City, be liable or res for my loss or damage incurred by Property Owner or any successor or assign of Owner, or by any occupant in Property Owners buildings, as a result of the exercis remedies provided to City in this agreement. Property Owner agrees to indemnify Cit liabilities incurred by City as a result of City’s exercise of these remedies. 17. This agreement and the covenants contained herein shall be binding u inure to the benefit of the successors, heirs, assigns, and transferees of Property Ow respect to the Project only and City, and shall run with the Project and create an z servitude upon the Project. * 18. All notices provided for under this agreement shall be in writing and delivered in person or served by certified mail postage prepaid. Delivery of notice to I shall be presumed to have been made on the date of mailing regardless of receipt by 1 Owner. Notices required to be given to Property Owner andor city shall be addrc follows: Notices to the City shall be delivered to the Finance Director City of Carlsbad 1200 Carlsbad Village Drive Carlsbad, CA 92008 Notices to Property Owner shall be delivered to: California Pacific Homes Attn: Sherman Harman Jr. 9191 Towne Centre Dr. Su LlOl San Diego, CA 92122 i 0 0 Each party shall notify the other immediately of any change that would reqr notice delivered hereunder to be directed to another party. 19. This agreement shall be recorded but shall not create a lien or security in the property, and shall release any obligation flowing from the Prior Agreement. 20. The undersigned Property Owner hrther states, under penalty of perjur) was owner of the property as described herein on Exhibit “B”, or an authorized age1 owner at the time of the execution of the Pnor Agreement, and has the authority to ex< document, including the binding authorization herein. Executed this L[ % dayof +L 1 .zulcy A 1997. *OWNER: A>& /-I I&LjQ1g~ 1, ATTEST, (print name here) &i,.&//A?bt b-?, (title sighatory) ! Aletha L. Rautenkranz, City Clerk A ro d as to form: 1LQ-F Ronald R. Ball 3. ~~9 7. City Attorney (Proper notarial acknowledgment of execution by *OWNER must be attached.) Pr vice-president and secretary or assistant secretary must sign for corporations. If officer signs, the corporation must attach a resolution certified by the secretary 01 secretary under corporate seal empowering that officer to bind the corporation. I } } ,-rx ., }ss. I&,.'; ,< ." L) STATE OF CALIFORNIA COUNTY OF L,4 I . , '/ ~ I. '/;I '. i: .-, .r C-.I...~ <% y- y f' , before me, (-;I./ 1 i tc On /,~b. /' I /I M' / , /q~~ 7 -. k?JD personally appeared s/ek/)'/ A ,j'.,! ''S jtfi,! f r; /- I;.: -7,p' .I k-: CU yq- c\ , ~jp-~,?+[;L& , personally kno (w-proved to me on the basis of satisfactory evidence) to be the person(s) whose namc subscribed to the within instrument and acknowledged to me that heishemxecuted person(s) or the entity upon behalf of which the person(s) acted, executed the instrun WITNESS my hand and official seal. in his/her&mthorized 7 capacity(ies), and that by hisiherdtheir'signature(s) on the instrt .- .J Signature @lLT2C;l& ",c.. I,! / c/ v' ! 7 ti!: ,%rn,,, 'qr official w:+rjal sc;j:) _. . . _____ -~~- Title of Document Date of Document Other signatures not acknowledged No. of Pages .~~ ..___. .-- -- . ..~~__ _-.-... _______._ 31 Clrcl 6mn... ?,> l.(ln I 0 0 EXHIBIT A RATE AND METHOD FOR DETERMINING FAIR SHARE OBLIGATION RANCHO SANTA FE AND OLIVENHAIN ROAD The City Council shall use the following rate and method for determining the E obligation for fbding the construction of Rancho Santa Fe and Olivenhain Road d property conditioned to participate in the financing of these facilities. This calculatior as part of an agreement titled PETITION, WAIVER AND CONSENT TO CREATIO COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHAR RELEASE OF PRIOR OBLIGATION (Agreement) which has been voluntarily enterec the City of Carlsbad and certain property owners wishing to proceed with development property in advance of the creation of Community Facilities District No: 2 (CFD No. the City and property owners intent to form CFD No. 2 to provide funding fc improvements described withm the above-referenced agreement. The following rate and method shall be used to determine the fair share and amount di any property owner wishing to take advantage of this alternate funding mechanism. < Basis for Cost Allocation The basis for allocation of costs to property conditioned with the financing improvements described in the Agreement shall be the Equivalent Dwelling Unit (EDU 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 Second Dwelling Units 0.0 EDU The number of each type of unit included in a development shall be determined by tl Engineer based on the most recent final map submitted to the City for approval. 0 0 The EDU determination for non-residential development shall be made by the City when such a determination is requested by the property owner. The City Engineer ma additional information from any property owner as may be necessary to r determination. The City Engineer is not required to make a determination on the n EDVs for any project until adequate information is available. The City Engineer's determination shall be submitted to the City Council in the tab The City Council shall make the final determination of the number of EDUs to bc computing the fair share obligation for any project. - Fair Share Amount and Method of Pavment The City shall collect $10,250 for each EDU as determined by the City Council. Thi: shall be collected in one payrrient of $10,250. Engineer's calculation of the number of EDUs included on the final map is in error, the shall direct the City Engineer to amend his calculations and direct staff to bring the fi back for approval when such correction has taken place. Funds must be paid to the Cil the final map will be scheduled for Council consideration. ' If the City Council determines Typ.of TatatNumoer Costper Total PtU8U Und 1 I Unit I Duo CT90-4 S~fomr(y 1.0 to2 10.250 1,045.500 Total 102 1.045.500 AWtHPddUM R-dng Prlar Agmmatu8 ow 102 1 ,O45,500 0 'Units 1 Amount Unb 1 A 102 1.045.500 0 0 0 EXHIBIT B LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CAL COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS: THAT PORTION OF LOT 9 OF RANCHO LAS ENCINITAS, IN THE CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDIN( THEREOF NO. 848, FILED IN THE OFFICE OF THE COUNTY kECORDD DIEGO COUNTY, JUNE 27, 1898, DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST EASTERLY CORNER OF LOT 179 OF CARLSBi NO. 81-16 (VISTA SANTA FE, UNIT NO. 3), IN THE CITY OF C COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP NO. 11129, FILED IN THE OFFICE OF THE COUNTY RECORDER OF Si COUNTY, JANUARY 27, 1985; THENCE ALONG THE BOUNDARY OF SAID 11129, NORTH 35°26r4511 WEST, 100.00 FEET; THENCE NORTH 1 WEST, 57.61 FEET; THENCE NORTH 38O58'OBt1 WEST, 101-.00 FEET; NORTH 34O31'41" WEST, 60.00 FEET; THENCE SOUTH 55O28'19" WES: NORTHERLY; THENCE WESTERLY ALONG THE ARC OF SAID CURVE, 'IT -CENTRAL ANGLE OF 88°15'1811, A DISTANCE OF 30.81 FEET; THENC 36O16'23" WEST, 109.69 FEET TO THE BEGINNING OF A TANGENT 170 RADIUS CURVE, CONCAVE NORTHEASTERLY; THENCE NORTHWESTERLY AI ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 3O53'14", A DIS' 11.53 FEET; THENCE NORTH 32O23'09" WEST, 15.74 FEET TO THE Bj NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENT= i FEET TO THE BEGINNING OF A TANGENT 20.00 FOOT RADIUS CURVE, OF A TANGENT 65.00 FOOT RADIUS CURVE, CONCAVE NORTHEASTERLY; 16"15'36", A DISTANCE OF 18.45 FEET TO A POINT OF REVERSE C1 WITH AN 85.00 FOOT RADIUS CURVE, CONCAVE SOU"I3WESTERLY; NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL E 16O15'36", A DISTANCE OF 24.12 FEET; THENCE NORTH 32O23'09 24.00 FEET TO THE BEGINNING OF A TANGENT 20.00 FOOT RADIUS CONCAVE EASTERLY; THENCE NORTHERLY ALONG THE ARC OF SAID THENCE LEAVING SAID CURVE ALONG THE PROLONGATION OF RADIAL SAID CURVE, NORTH 37O44'29" WEST, 60.00 FEET TO A POINT NORTHERLY BOUNDARY OF PARCEL B OF CERTIFICATE OF COMPLIANCE I THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, SEPTEE 1984 AS FILE NO. 84-358890 OF OFFICIAL RECORDS, SAID P0I"I' E THE ARC OF A NON-TANGENT 520.00 FOOT RADIUS CURVE, NORTHWESTERLY, A RADIAL LINE TO SAID POINT BEARS SOUTH 3: EAST; THENCE ALONG THE BOUNDARY OF SAID PARCEL B, NORTHEAST= THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 2'33 THE BEGINNING OF A TANGENT 730.00 FOOT RADIUS CURVE, SOUTHEASTERLY; THENCE NORTHEASTERLY ALONG THE ARC OF SAID THROUGH A CENTRAL ANGLE OF 17O21'11ff, A DISTANCE OF 221.0 THROUGH A CENTRAL ANGLE OF 84O38'40", A DISTANCE OF 29-5 DISTANCE OF 23.15 FEET; THENCE NORm 49O42'28" EAST, 370.82 a 0 Page Two of Exhibit B THENCE NORTH 67'03'39" EAST, 144.79 FEET TO THE BEGINNIK TANGENT 270.00 FOOT RADIUS CURVE, CONCAVE NORTHWESTERLY; NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL 1 9.69 FEET TO THE BEGINNING OF A TANGENT 400.00 FOOT RADIUZ CURVE, THROUGH A CENTRAL ANGLE OF 17O51'02", A DISTANCE OE TANGENT 20.00 FOOT RADIUS CURVE, CONCAVE NORTHWESTERLY; NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL A 98°00'OO~', A DISTANCE OF 31.42 FEET TO THE POINT OF CUSP TO IUDIAL LINE BEARS NORTH 67O58'OOt1 EAST; THENCE LEAVING SA1 ALONG A TANGENT LINE, SOUTH 22°02'00w EAST, 202.60 FEET; THEN( 67°S8/0018 EAST, 60.00 FEET; THENCE SOUTH 22°028001f EAST, 450 TO THE BEGINNING OF A TANGENT 1,030.00 FOOT RADIUS CURVE, CENTRAL ANGLE OF 12°44r30", A DISTANCE OF 229.06 FEET; THEN( 09O17'30" EAST, A DISTANCE OF 150.00 FEET TO THE BEGINN11 TANGENT 930.00 FOOT RADIUS CURVE, CONCAVE WESTERLY; THENCE Sc ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 24'04 DISTANCE OF 390.87 FEET; THENCE LEAVING SAID CURVE ALONG TANGENT LINE, SOUTH 63'37'05" WEST, 1,087.25 FEET; THENC 87O38'31" WEST, 114.29 FEET; THENCE LEAVING SAID BOUNDARY 01 16056/41", A DISTANCE OF 109.42 FEET; THENCE NORTH 5O006W CONCAVE SOUTHEASTERLY; THENCE NORTHEASTERLY ALONG THE ARC FEET: THENCE NORTH 67O58'OO1l EAST, 121.06 FEET TO THE BEGINN! WESTERLY; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, TI - B, NORTH 02O21'29" WEST, 181.84 FEET; THENCE NORTH 35'05'54 184.00 FEET; THENCE NORTH 39'38'22" WEST, 100,OO FEET; THEN( 50"21'38" EAST, 99.44 FEET; THENCE NORTH 39"38'22" WEST, 220.1 THENCE NORTH 53°21f03'1 EAST, 152.51 FEET; THENCE SOUTH l! EAST, 58.74 FEET; THENCE SOUTH 35'26'45'' EAST, 102.00 FEET; NORTH 54'33'15" EAST, 120.37 FEET TO THE POINT OF BEGINNING. I.w. L - rm,-u~w~~wn 1 WUY I LW I (wan I L. ww""w'C\' ' I -. 'I) 0 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 2 STAGE COST SUMMARY STAG€ 1: OLlVENHAlN ROAD I AREA A, (@ EL CAMINO REAL) $2,503,000 $91 2,000 DETENTION BASIN 'D' $871,000 AREA 6, (@ RANCHO SANTA FE RD.) --------- --------- TOTAL STAGE 1 - $4,286, STAGES 2: RANCHO SANTA FE ROAD, PHASE I $1 5,032,1 STAGES 3: RANCHO SANTA FE ROAD PHASE II $1 4,230,( L. < STAGE 4: RANCHO SANTA FE ROAD SOUTH %,log,( ------- ------- CFD NO. 2 TOTAL $36,657, C FILE. SUMMARY WQ1 PREPARED BY: HELMING ENGlP L 2 3 4 5 6 7 8 9 10 l1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 RESOLUTION NO. 97 - 86 0 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIP AUTHORIZING THE MAYOR TO EXECUTE A AMENDED AGREEMENT WITH lA GREYSTONE HOMES PROVIDING FOR THE PREPAYMENT OF CFD#2 TAXES FOR 85-1 5 Whereas, the City Council has approved a financing program for Ranct Santa Fe Road which includes the intended formation of a Community Facilit District (CFD#2), and Whereas, the City Council has previously approved agreements with GREYSTONE HOMES allowing for the prepayment of taxes to be assessed ut CFD#2 as an acceptable form of interim financing for Rancho Santa Fe Road required by various tentative map conditions for CT 85-1 5, and Whereas, the approval of the amended agreement will not affect the C ability to finance the needed improvements on Rancho Santa Fe Road. NOW, THEREFORE BE IT RESOLVED by the City Council of the City 01 Carlsbad, California as follows: 1. 2. CREATION OF A COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO FAIR SHARE, Attachment 2 attached here to, is hereby approved. 3. 4. with the San Diego County Recorder's office upon execution. That the above recitations are true and correct. That the form of the revised PETITION, WAIVER AND CONSENT TO That the Mayor is hereby authorized to enter into the attached agreem The City Clerk is authorized and directed to record the attached agreer PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council day of March , 1997 by the following vote, to wit AYES: Council Members Lewis, Finnil NOES: None ABSENT: None ATTEST: 27 28 ALETHA L. RAUTENKRANZ, City Clerk \ (SEAL) t 0 0 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: CITY OF CARLSBAD 1200 Carlsbad Village Drive Carlsbad, CA 92008 city Clerk Space Above This Line for Recorder’s U PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE WHEREAS, the undersigned Property Owner is processing, or has proces: development with the City of Carlsbad (hereinafter referred to as “City”) a developmenl known and identified as Tentative Tract Map CT 85-15, (hereinafter referred to “Project”); and WHEREAS, the legal description for the Project is shown on Exhibit “B” i 1 1 hereto; and, WHEREAS, City has determined this Project is located within the boundar proposed Community Facilities District known as Community Facilities District ‘ Rancho Santa Fe and Olivenhain Road (hereinafter referred to as “District”); and, WHEREAS, District is intended to be formed to finance those improvements g described in Section 1 herein and in the amount set forth in the Improvements Budget hereto marked Exhibit “C”; and, 9 WHEREAS, 9 operty Owner desires to proceed with dk 1 cessing prior to the fc of District; and, WHEREAS, various conditions of the Tentative Tract Map for the Project requ the Property Owner provide for or participate in the construction of certain improvements including sections of Rancho Santa Fe Road; and, WHEREAS, the compliance with tentative map conditions is a condition of 2 for the final map for the Project; and, WHEREAS, the City and Property Owner desire to agree to an alternative mc financing the improvements described in Section 1 herein that will allow Property C discharge its fair share and obligation for said improvements in lieu of, or in anticip. participation in District; and, - WHEREAS, the City Chuncil agrees that Property owner, upon entering i agreement and upon payment of the fair share described herein, has met the require1 forth in the tentative map conditions requiring the Project to provide a financial guara the construction of those improvements described in Section 1 below; and, WHEREAS the City and Property Owners have previously entered into agreement providing for prepayment for said Improvements by which Property Owner 1 -paid its obligation, and the parties wish to supersede those agreements with this ag providing for a special refund; and, F ) WHEREAS, (b perty Owner voluntarily enters into t II) agreement with respec Project; and, WHEREAS, the City Council has determined that due to the size of the pi development, there will be no major impact on the circulation system at the present development of the Project is allowed to proceed with sufficient financial guarantees fo~ construction of Property Owner’s fair share of the circulation improvements; NOW, THEREFORE, in consideration of proceeding with the processing of I the undersigned Property Owner and City hereby agree and certify to the following: 1. Property Owner hereby petitions the City for the initiation of the procc for the formation of District which will cause the construction and installation andor fin of the following improvements (hereinafter “improvements”) which are generally descr follows: d a) Rancho Santa Fe Road North Phase 1 (RSF No.1) La Costa Ave east of Mahr Reservoir b) Olivenhain Road Widening, and intersection improvemei Olivenhain and El Camino Real c) Rancho Santa Fe Road North Phase 2 (RSF No.2) Phase 1 E Melrose Drive. d) Rancho Santa Fe Road South (RSF So.) (Assumes Secondary P Standard - Encinitas City Boundary to Olivenhain Road Full Improvements.) 2. The c a of construction, engineering, envir @l ental mitigation’s lei F. other incidental expenses as set forth in the “improvements Budget” will be funded District. 3. Property Owner acknowledges its right to notice of and participatior phases of formation under the “Mello-Roas Community Facilities Act of t982,” - ex waives the proceedings required and all limitations contained in Title 5, Division 2, ( 2.5 of the California Government Code and nonetheless with full knowledge of such completely and forever waives such rights. Specifically, Property Owner hereby cons the proceedings and waives any right to protest the formation of the District and the ordc the improGements under applicable California statutes and consents to and supports for of said District with respect to the Project. The City shall exclude the Project from the boundary map if, prior to the adoption of a Resolution of Intention by the City Council t said District, Property Owner has entered into this agreement and has paid to the ( amounts due as described herein. - ‘ ‘ 4. a) Property Owner agrees to pay to City, or provide, its fair share Improvements described in Section E. b) Said payment, or provision, shall be made in the manner descri Exhibit “A”, Rate and Method for Determining Fair Share Obligation Rancho Santa I Olivenhain road, which is incorporated herein by reference. c) The amount of Property Owner’s fair share will be conclL determined by the City Council in the manner described in Exhibit “A” attached hereto. d) @pent by Property Owner of its fax m, are of Improvement determined by City Council and set forth herein will satisfy its obligations for the cons of the Improvements described in Section 1, as required by the Tentative Map for the P that condition applies to the Project, subject to adjustment as described in Section 10 he e) Alternatively, if the District is formed and Project is included v Property Owner’s obligations to pay its fair share pursuant to this agreement shall be . upon payment of all taxes imposed, established and payable to said District. 5. Property Owner acknowledges that this agreement to pay its fair sh participate in the financing of improvements is voluntary and that without this ag Property Owner would be precluded from obtaining final map approvals or building ai development permits under the provisions of the General Plan, Chapter 2 1.90 of the ( Municipal Code, applicable zone plan, financing plans and related documents permi the provisions of the General Plan, Chapter 2 1.90 of the Carlsbad Municipal Code, ap zone plan, financing plans and rtlated documents until a satisfactory financing progi been developed to fund the construction of the Improvements described in Section 1. 6. Property owner hereby waives his right to challenge the amount, establ or imposition of said fair share and further waives any rights to pay said fair shar protest. 7. This agreement does not affect, in any way whatsoever, the obligs Property Owner to pay any other fees or assessments associated with Property ( development and/or to post irnprovemcnl bonds as required by the City Engineer. N this agreement reliv a operty owner ftom providing other 9 blic facilities require( conditions placed upon the Project by the applicable tentative map conditions. 8. Property Owner agrees that payment of its fair share is not a fee and wai and all rights to notice of or challenges to the establishment or imposition of said fair sh fee under provisions of Government Code section 66000 et sea., or any successor or statutes. 9 a. The City and Property Owner hereby agree that this agreement supersel prior written agreement between the City and Property Owner concerning Property C fair share obligation for the Project covered by this Agreement (a “Prior Agreement”), if - b. The City acknowledges that, prior to December 10, 1996, the unde Property Owner had paid to the city excess fair share payments totaling $54,720 (18 family units times $3,040 per unit) (the “Excess Fair Share Payments”) pursuant following Prior Agreement betwten the City and Property Owner covering the I developed by Property Owner in Carlsbad: (1) Petition, Waiver and Consent to Creation of a Community Fz District and Agreement to Pay Fair Share dated March 19, 1996 (covering Tc Tract Map CT 85- 15); c. City hereby agrees to refund to Property Owner, by check, the total am Excess Fair Share Payments within 30 days of the execution of this agreement. 10) a) * the District is formed subsequent to @ e payment by Propea of the fair share pursuant to this agreement, Property Owner’s financial obligation recalculated using the taxing formula established for the District for the Impro described in Paragraph 1, If that obligation is lower than the amount previously provided by Property Owner to City, City shall refund any excess, in the manner dc below. b) Any refund shall be made from funds available within District upon formation and shall not be an obligation of city’s General Fund or other revenue sources c) In the event that insufficient funds are available !?om District’s re: x Property Owner shall be reimbursed in the order in which funds were deposited with soon as sufficient funds become available, as determined by the City Council, throi payment of one-time taxes or annual undeveloped land taxes to the District. The cit! required to establish an undeveloped land tax within the District to provide such refund. 6 d) No reimbursement is required until the City Council determines that su funds are available. Any refund to Property Owner shall not include interest. e) Any payment received by the City under this agreement shall be deposit special interest bearing fund and may only be used to fund the construction of the fz described herein. Upon the formation of a CFD to fund these same Improvements, any i remaining in the special fund may be transferred to the CFD fund, at the discretion Finance Director. I 11. Upon @ mpletion of the Improvements, an 9 recording of the no completion for the final phase of the Improvements, the City Engineer shall determine t cost of all phases of the Improvements and all related work (Costs), and the Finance I shall determine the total amount of revenue including fees, taxes, interest earned or restricted to use only on the Improvements, and other sources of funds received by tl dedicated to paying for the construction of the Improvements (Revenues). The 1 Director shall then compare the amount of Costs and Revenues to determine if there i excess Revenues as described below. If excess Revenues of more than $100,000 ex Finance Director shall provide refunds to all eligible parties of all excess Revenue: amount and in the manner described below. If excess Revenues are equal to, or le, $100,000 the City shall retain these funds in a special fund to be used to finance street maintenance, and landscaping within the Improvements. a) The totaI amount of excess Revenues shall be determined by deducti amount of the project Costs from the available Revenues. Total project Costs shall inch costs to plan, design, construct,’ mitigate environmental impacts, inspect, and 0th complete the project to the satisfaction of the City Engineer, including applicable char1 City staff services. Total Revenues shall include all monies held by the City ded exclusively to the construction of the Improvements including any fee revenues earmark the Project, CFD #2 taxes, applicable CFD #1 taxes, grants, and interest earned on res funds as determined by the Finance Director. b) The amount of the refund due to any party shall be based on the proport that party’s payments under this agreement based on its’ proportional share of Equi Dwelling Units constructcd or to be constructed by that party, weighted as described in E A, divided by the total number or EDUs constructed or to be constructed within , participating in, CF a and/or this agreement. The amount a he refund shall be detc by multiplying the proportional share computed above by the total amount of excess rev c) In order to share in the refund of any portion of the excess Reveni eligible party must request to be included in the distribution of funds. Such request made within 90 days after the City Council’s acceptance of the Notice of Completion final phase of the Improvements. Each request must be accompanied by documents in( clear title to the refund unless the request is being made by the party which originally 1 City pursuant to this agreement or paid taxes to CFD #2 d) The Finance Director shall compute the amount of the refund due each - described above. Funds may be disbursed to the eligible parties following Council appi such refunds. e) If the City does not receive requests for refund from all eligible parties the specified period, and all funds cannot be disbursed as provided by this sectic remaining funds shall be held in a special fund to be used to support road and rc maintenance in and around the Impmvements area, as determined to be necessary by tl Engineer, and approved by the City Council. 0 As a courtesy to all interested parties, the City will maintain a file o individuals or companies entitled to a refund, and will mail notices of refund availabilit names and addresses in this file following the City Council’s acceptance of the final Nc Completion. It is the eligible party’s responsibility to notify the City if the rights refunds under this section are assigned to another p arty, or if there is a change in n address for the eligible party. The City takes no responsibility for the accuracy I information include @ this file, and is under no obligation 16 locate persons or entit are entitled to rehnds. Failure to notify any party of the availability of excess Reveni not obligate the City in any way to extend or modify the above rehnd procedures. 12. Compliance with this agreement will be accepted by City as an altema method described in the current Local Facilities Management Plans for local ; Management Zones 6, I1 and 12 for financing the Improvements described in Para< This agreement does not require City to issue building permits or other development pt grant approvals or relieve Property Owner of the obligation to comply with all ay provisions of law, including but not limited to Carlsbad Municipal Code Titles 18, 19 21. * 13. Compliance with the provisions of this agreement is a condition of a discretionary approval for the Improvements. If Property Owner does not comply provisions of this agreement, approval of the Project will not be consistent with the Plan, the Growth Management Program, and the Local Facilities Management Plan, subsequent discretionary approvals and permits for the Project may be withheld by Citj 14. In addition, the City will not approve any pending final maps, issue building or other development permits or take any discretionary action until the 1 Owner has complied with the terms of this agreement due to be satisfied at the til approval is required. 15. The City may, at its discretion, elect to pursue any remedy, legal or c against Property Owner and Property Owner’s successors, heirs, assigns, and transferc Project to secure compliance with this agreement. L e 0 16. City shall not, nor shall any officer or employee of City, be liable or req for any loss or damage incurred by Property Owner or any successor or assign of F Owner, or by any occupant in Property Owners buildings, as a result of the exercise remedies provided to City in this agreement. Property Owner agrees to indemnify City liabilities incurred by City as a result of City’s exercise of these remedies. 17. This agreement and the covenants contained herein shall be binding UT inure to the benefit of the successors, heirs, assigns, and transferees of Property owr respect to the Project only and City, and shall run with the Project and create an ec servitude upon the Project. - 18. All notices provided for under this agreement shall be in writing and : delivered in person or served by certified mail postage prepaid. Delivery of notice to F shall be presumed to have been made on the date of mailing regardless of receipt by P Owner. Notices required to be gifren to Property Owner shall be addressed as follows: Notices to the City shall be delivered to the Finance Director City of Carlsbad 1200 Carlsbad Village Drive Carlsbad, CA 92008 Notices to Property Owner shall be delivered to: Todd Palmaer, Greystone Homes 495 E. Rincon Su 115 Corona, CA 91719 Each paaall notify the other immediately of echage that would re< notice delivered hereunder to be directed to another party. 19. This agreement shall be recorded but shall not create a lien or security i the property. 20. The undersigned Property Owner further states, under penalty of pejur is owner of the property as described herein on Exhibit “B”, or an authorized agt owner, and has the authority to execute this document, including the binding aut’ herein. Executed this 14th day of FEBRUARY ,1997. *OWNER: BY *By: y./w zM kbc- ATTEST, (print name here) Aletha L. Rautenkranz, City Clerk &* P&S. (title signatory) ed as to form: E Ronald R. Ball 3. h7 y F - City Attorney (Proper notarial acknowledgment of execution by *OWNER must be attached.) Pr vice-president and secretary or assistant secretary must sign for corporations. If officer signs, the corporation must attach a resolution certified by the secretary o secretary under corporate seal empowering that officer to bind the corporation. 9 e STATE OF CA.LPoMA cow OF RIVERSIDE On Febnrary 14, 1997, before me, Linda Wasty, Notary Public for County of San Diego, personally appeared TODD PALMAER , personally known to me to be the person whose name is subscribed to t within instrument and acknowledged to me that he cxaxted the same in his authorized capacity and th by his signature on the instrument, the person or entity upon behalf of which the person acted, executed the within instrument. WlTNESS my hand and official seal. -.tcI ission #I om269 ( PU~IIC - Cdlforniai October 31. 1897 - &~?K.Yc.*_ Linda Kaniasty, Notary CAPACITY CLAIMED BY SIGNER: SIGNER IS REPRESENTING. Individual - XX- CorporateOf&icer President Greystone Homes, Inc.. ,A Delaware Corporation Partners __ Assistant Secretary L Corporation as a Partner Other THIS CERTIFICATE MUST BE AnACHED TO THE DOCUMENT DESCRIBED BELOW TITLE OR TYF’E OF DOCUMENT. -Petition, Waiver, and Consent to Creation of CFW12 and Agreement to Pa NUMBER OF PAGES lS+attaChments NUMBER OF SIGNERS 4 . 0 0 ,' CERTIFICATE OF SECRETARY OF GREYSTONE HOMES, INC. I, XobeYt w. Garcin, Secretary of Gr-eystcze Eomes, Inc. hex certify that the following is a true and correct copy c: ResoiuticI? duly Edc?tes by the Ecal-d cf Cirectors cf Creyst Hcnes, Inc. ca June 12, 1,095 and th:a; scid Eesolution is in f force and effect and has E~Y heen rescixded CT modified: RESSLVED, that Todd Falnaer 1s .. nerek?? elected President cf L Inlad Empire Division of this Ccrscration. ._ 2 I' Cated: june 12, 1935 >\ .'cj/' 1 f L&g 2 q4 ;/.Vv'.,//&+ii '. Iiobert X. GarcY~, Secretary cl' Greyscone .- r.omes I Inc. 6 (Corporate Seal) I * 0 CERTIFICATE OF SECRETARY e OF GREYSTONF: HOMES, INC. I, Robert W. Garcin, Secretary of Greystone Homes, Inc. herc certify that the following is ii true and correct ccpy of Resoiuticn duly adcpted by che Board of DirecLors of Greystc Homes, Inc. c;? June 12, 1555 and tnat said: Rescluticn, is in fl force and effect and hzs nct been rescinded CY mccizLec: 7.r. 7 RESOLVED, that Todd Palmaer, President/lnlznd Empire Zivision, zctixs alcze Se and is here5y acEhcrlzed cr, behalf cf this Corpcration to enter into ccztracts for services, yrchase materials and scpplies, execute applicaticns, government and quzsi-go\;ernnent .. perzits and licenses, &talc r-':* ,rm end VA apFrcvais, enter into written conrracts wirh City and fcunty agencies (izcludin~ schcci districts) prelinizzry to or concurrezt with che subdivislcn cf rezl property cwne6, CT under coiltract to purcnEse by sale acreement cr octicn, which contrccts ere a part of said subdivisicn prGcess, execute documeztss oz instrunencs Szrcienins this Ccrpcraiion's real property as a part of the subdivision process, inciucing bcc r,ct linited to Subdivisicn Zmprcvemfntkoreements, easements, righis-of-way, licenses, ccvenants, . cmditicns and re serva t I ms ! 'I CC&R "S It ) , annexatim asreemests, appiicatioas fcr Departmezt cf Real Estzte public report 0, cicle ccrr,pany indemnificaticn azreernents relating ;o Ccrporation real property, pi~blic and quasi- public iicility service applicaticns EE~ contrzcts, e cem~ora~y entry acreemnts, ccztracts for the sale or rentai cf this Corpcrztlcn's residential real ~rcprrty 2nd is a c.a_vt 0: 2 resiiential sgbci\-isi@n which lEcter ~.e:hority inclildes the ~i?tk,~~-itj: to Execzte Fscrcw -. L ~~Ctyu~ti~~s, Crzni rJ.=eds 2nd ether ~ES~Y>>FEE~S cf con-ceyancc, E.nd ail ccher ccztracts invcivi:?c, [;.lis Corporatizn's ordinzry c~crse of bcziness EXCSPT he s:?all have nc aschcrity to bcrrow mcney, -~~.-c?.ass c-'b- real propcrt):, sell real prcper::; cther than as herelnabcve permitted cr execute surety bonds on behalf of this Ccrpcraticn. wh€3 SEC~ re~l _C~~CFET~~ is inprcved with E hcilslnc VRit - r. a 0 e RESOLVED FURTXER, that the authority herein conferred shall remain in force until revocation thereof by the Board of Directors of this Corporaticn. -7 ~ // ; 7 / Dated: June 12, 1995 /*- .- ,67 .4{x- a' 2)- fly-i Robert W. Garcln, Secretary of Greystone iiomes, inc. (Corporate Seal) - b < EXHIBIT A 0 0 RATE AND METHOD FOR DETERMINING FAIR SMARE OBLIGATION RANCHO SANTA FE AND OLIVENHAIN ROAD The City Council shall use the following rate and method for determining the fail obligation for finding the construction of Rancho Santa Fe and Olivenhain Road du property conditioned to participate in the financing of these facilities. This calculation as part of an agreement titled PETITION, WAIVER AND CONSENT TO CREATIOF COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR S (Agreement) which has been voluntarily entered into by the City of Carlsbad and property owners wishing to proceed with development of their property in advance creation of Community Facilities District No. 2 (CFD No. 2). It is tfie City and pi owners intent to form CFD No. 2 to provide funding for those improvements described the above-referenced agreement. The following rate and method shdl be used to determine the fair share and amount du any property owner wishing to take advantage of this alternate funding mechanism. 6 Basis for Cost Allocation The basis for allocation of costs to property conditioned with the financing improvements described in the Agreement shall be the Equivalent Dwelling Unit (EDU) 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 Second Dwelling Units 0.0 EDU The number of each type of unit included in a development shall be deterniined by tl Engineer based on the most recent final map submitted to the City for approval. * 0 0 The EDU determination for non-residential development shall be made by the City E when such a determination is requested by the property owner. The City Engineer may additional information from any property owner as may be necessary to m4 determination. The City Engineer is not required to make a determination on the nu EDUs for any project until adequate information is available. The City Engineer's determination shall be submitted to the City Council in the table The City Council shall make the final determination of the number of EDUs to be computing the fair share obligation for any project. Fair Share Amount and Method of Payment The City shall collect $10,250 for each EDU as determined by the City Council. This shall be collected in one payment of $10,250. If the City Council determines t Engineer's calculation of the number of EDUs included on the final map is in error, the shall direct the City Engineer to amend his calculations and direct staff to bring the fi back for approval when such correction has taken place. Funds must be paid to the Cit: the final map will be scheduled for Council consideration. Amount Paid Under Type of Prior Agreements Project unit Per Unit of Units Due Units 1 Amount CT85-15 Single Family - 1.0 131 10,250 1,342,750 131 1,342,750 Total 131 1,342,750 131 1,342,750 Remainlng Bali Units I Amo Due 0 0 A a e ‘1 EXHIBIT ‘B’ ORDER NO. 11 355 LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIF( COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS: PARCELS 1 THROUGH 156 INCLUSIVE OF PARCEL MAP NO. 17744, IN THE C CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORD1 MAP THEREOF ON FILE IN THE OFFICE OF THE COUNTY RECORDER C DIEGO COUNTY, SEPTEMBER 5, 1996 AS FILE NO. 1996-0450805, OF RECORDS. EXCEPTING THEREFROM ALL WATER, WATER RIGHTS, OIL, OIL F MINERALS, MINERAL RIGHTS, NATURAL GAS, NATURAL GAS RIGHT! OTHER HYDROCARBONS BY WHATSOEVER NAME KNOWN, GEOTH STEAM, AND ALL PRODUCTS DERIVED FROM ANY OF THE FOREGOING MAY BE WITHIN OR UNDER THE PARCEL OF LAND DESCRIBED IN THIS E: TOGETHER WITH THE PERPETUAL RIGHT OF DRILLING, MINING, EXPI AND OPERATING THEREFOR AND STORING IN AND REMOVING THE SAMI SAID LAND OR ANY OTHER LAND, INCLUDING THE RIGHT TO WHIPSTC DIRECTIONALLY DRILL AND MINE FROM LANDS OTHER THAN HEREINABOVE DESCRIBED, WATER, OIL OR GAS WELLS, TUNNELS AND : INTO, THROUGH, OR ACROSS THE SUBSURFACE OF THE LAND HEREIN DESCRIBED, AND TO BOTTOM SUCH WHIPSTOCKED OR DIRECT10 DRILLED WELLS, TUNNELS, AND SHAFTS UNDER AND BENEATH OR B THE EXTERIOR LIMITS THEREOF, AND TO REDRILL, RETUNNEL, MAINTAIN, REPAIR, DEEPEN, AND OPERATE ANY SUCH WELLS OR WITHOUT, HOWEVER, THE RIGHT TO ENTER UPON, DRILL, MINE, EXPLORE, AND OPERATE ON OR THROUGH THE SURFACE OF THE UPPE HUNDRED (500) FEET OF THE SUBSURFACE OF THE LAND HEREIN DESCRIBED. 9 -. . - -. ..-.- . ..-- ..... - .... 7-- -- a --si --. -* CITY OF CARLSBAD COMMUNITY FAClLlnES DISTRICT NO. 2 STAGE COST SUMMARY STAGE 1: OLIVENHAIN ROAD AREA A, (@ EL CAMINO REAL) $2,503,000 $91 2,000 DFTENTION BASIN 'D' $871,000 AREA 6, (@ RANCHO SANTA FE RD.) __------- __------- TOTAL STAGE 1 - $4,286, STAGES 2: RANCHO SANTA FE ROAD, PHASE 1 $1 5,032, STAGES 3: RANCHO SANTA FE ROAD, PHASE II $1 4,230, 6 STAGE 4: RANCHO SANTA FE ROAD SOUTH $3,109, ------- ------- CFD NO. 2 TOTAL $36,657, FILE. SUMMARY WQ1 PREPARED BY: HELMING ENG