Loading...
HomeMy WebLinkAbout2003-03-04; City Council; 17089; Acquisition of Property: 2578 Roosevelt StreetJOINT MEETING OF THE CITY OF CARLSBAD AND HOUSING AND REDEVELOPMENT COMMISSION AGENDA BILL AB# 17,089 MTG. 3-4-03 DEPT. HD. TITLE: ACQUISITION OF PROPERTY 2578 ROOSEVELT STREET . ” “ CITY ATTY. DEPT. H/RED CITY MGR. I “ RECOMMENDED ACTION: That the City Council ADOPT Resolution No. 2003 - 057 , APPROVING certain actions and appropriating funds related to the Carlsbad Redevelopment Agency’s acquisition of property located at 2578 Roosevelt Street for affordable housing purposes. That the Housing and Redevelopment Commission ADOPT Resolution No. 362 9 APPROVING certain actions and appropriating funds related to the Carlsbad Redevelopment Agency’s acquisition of property located at 2578 Roosevelt Street for affordable housing purposes. ITEM EXPLANATION: In 2002, the property at 2578 Roosevelt Street was available for purchase from the current private property owner. After a comprehensive review of the benefits related to the Redevelopment Agency’s purchase of the property, staff recommended the site acquisition. The City CounciVHousing and Redevelopment Commission subsequently authorized the Housing and Redevelopment Director to enter into negotiations to purchase the site. City staff and representatives of the landowner prepared and executed the attached escrow instructions (see Exhibit 3), and are now prepared to close the transaction through final recordation of the Deed. With approval of a finding by the Housing and Redevelopment Commission that the acquisition is consistent with the goals and objectives of the Village Master Plan and Design Manual, Village Redevelopment Plan and the General Plan, and will ultimately result in the elimination of blight or a blighting influence within the Village, the Agency will be able to complete the purchase transaction and assume ownership of the subject property. The Council/Commission previously authorized the Housing and Redevelopment Director to complete negotiations and enter into an agreement to purchase the subject property for affordable housing purposes not to exceed $750,000. After conducting due diligence research, it was learned that the property was approximately 2,000 square feet smaller than was noted in the original purchase agreement. Thus, staff and representatives of the landowner prepared and executed an amendment to the purchase contract with a negotiated price of $690,000 to reflect the smaller property size. Staff and the landowner are now prepared to proceed with the transaction. Staff is recommending that the City Council and the Housing and Redevelopment Commission take action to authorize acquisition of the subject property with all of the individual actions described below, including appropriation of the required funding. ~ Consistencv with the Goals and Obiectives of the Villase Master Plan and Design Manual. The Village Master Plan and Design Manual indicates that one of the goals for the Village Redevelopment Area is to “establish Carlsbad Village as a Quality Shopping, Working and Living Environment.” The Agency intends to ultimately lease or sell the subject property to a private developer 1 7 for construction of affordable housing, which will revitalize the area. The property is within easy walking distance of many of the service facilities, retail locations, mass transit and other amenities offered within the Redevelopment Area. The construction of affordable housing will enable the Agency to accomplish the goal of creating a Quality Shopping, Working and Living Environment, and is therefore consistent with the Goals and Objectives of the Village Master Plan and Design Manual. Also, the main objective of any Redevelopment Project Area is to eliminate blight and blighting influences that presently exist in the project area. At the time the Redevelopment Agency initiated the acquisition, the site contained an uninhabitable, boarded-up residence. In addition, the site served as an informal storage yard. As a requirement of the Agency’s purchase, the property owner has removed the structure and all of the material stored on-site. Therefore, the purchase of the subject property will assist the Redevelopment Agency to meet the primary redevelopment objective of eliminating blight. The Carlsbad Redevelopment Agency’s 2000-2004 Redevelopment Implementation Strategy includes an affordable housing production plan that indicates the Redevelopment Agency intends to assist in the production of 253 units of newly constructed affordable housing units. To date, the Agency has assisted in the production of 138 new units. Acquisition of the subject property will assist the Agency in meeting a portion (approximately 10 units) of this production goal. The subject Strategy also requires that covenants be placed on the property to ensure the long-term maintenance and affordability of the designated affordable housing units for a minimum of thirty (30) years. For the ultimate development of the property, staff will require long-term affordability requirements for the life of the project which is anticipated to be a minimum of fifty-five (55) years. Propertv Ownership: At this time, staff is proposing that the Redevelopment Agency retain ownership of the subject property. If so desired, at a later date, a decision may be made to allow an affordable housing developer to lease or purchase the property from the Redevelopment Agency and maintain the noted covenants for affordable housing purposes. At the close of escrow, it is the intent of staff to issue a request for proposaVqualifications to identify an affordable housing organization to develop and operate the proposed project. Within the attached Housing and Redevelopment Commission Resolution, staff has requested authorization to proceed with efforts to identify and select an appropriate affordable housing developer/operator through a request for proposal or qualifications (RFP/RFQ) process. Acquisition of the subject property by the Redevelopment Agency is consistent with the Housing Element of the General Plan, which requires that affordable housing opportunities be provided for all income levels within the community. The primary focus of the City’s efforts is on the provision of affordable housing for lower income households. Affordable housing for very low households is a high priority both within the City’s Housing Element and the City’s Consolidated Plan. General Plan Consistencv: The City’s General Plan includes a Goal for the Village Redevelopment Area, which states that the City “preserves, enhances, and maintains the Village as a place for living, working, shopping, recreation, civic and cultural functions while retaining the village atmosphere and pedestrian scale.” The objective for the Village as set forth in the General Plan is “to implement the Redevelopment Plan by developing a comprehensive plan to address the unique residential and commercial needs of this segment of the community.’’ 2 Page 3 of AB # 17,089 On February 24, 2003, the Design Review Board made a finding that the purchase of the subject property is consistent with the General Plan because the long-range plan for the property will result in the production of new affordable housing units within the Village Redevelopment Area. The new residents will enjoy the living, working, shopping, recreation, civic and cultural opportunities that are provided in the Village. Consistency with Village Redevelopment Plan As required by Redevelopment Law, the Carlsbad Village Redevelopment Plan indicates that not less than 20% of all taxes allocated to the Agency have been pledged to increasing and improving the community supply of housing for persons with low and moderate income. These funds may be used inside or outside the project area upon a resolution of the Agency and the legislative body that the use will be of benefit to the project area. With approval of the attached Housing and Redevelopment Commission resolution, the acquisition and rehabilitation of the subject property is found to be consistent with the Village Redevelopment Plan and of benefit to the project area. Environmental Review: The action to acquire the subject property is exempt from environmental review under CEQA. The property is being acquired for the purpose of construction of affordable housing. Therefore, the acquisition is exempt from environmental review pursuant to Section 15280 of the State CEQA Guidelines. However, the future development proposed for the site will require separate environmental review under CEQA at a later date. In addition, because the purchase of the property involves the use of federal HOME and CDBG funds, environmental review under the National Environmental Protection Act (NEPA) was also required. An Environmental Assessment required by 24 CFR 58, Section 58.36 was performed. The result of the Environmental Assessment was that a Finding of No Significant Impact (FONSI) was made, and no further review under NEPA is required. The City has received approval of its Request for Release of Funds from the U.S. Department of Housing and Urban Development as a result of this environmental determination. FISCAL IMPACT: The negotiated price for the property is $690,000. With taxes, escrow and recording fee, the total cost of the acquisition is estimated to be $695,000. The property is being purchased under no threat of condemnation. Funding is available from the Redevelopment Low and Moderate Income Housing Fund, the Federal Community Development Block Grant (CDBG) Program, and the Federal Home Investment Partnership Program Fund (HOME) Program. To date a $50,000 deposit from Redevelopment Low and Moderate Income Housing Funds has been placed into escrow. Prior to the close of escrow the City will wire the balance of the purchase price, three hundred, seventy six thousand, three hundred and fifty one dollars ($376,351) in CDBG funds and two hundred, sixty eight thousand, six hundred and forty nine dollars ($268,649) in HOME funds, to the escrow holder. The funds will be released to the seller upon execution of the Certificate of Acceptance for the Deed by the City Clerk. EXHIBITS: 1. City Council Resolution No. 2003 - 057 3. Escrow Instructions 4. Grant Deed 2. Housing and Redevelopment Commission Resolution No. 362 EXHIBIT 3 TO AB 17,089 AGREEMENT FOR PURCHASE OF REAL PROPERTY AND ESCROW INSTRUCTIONS THIS AGREEMENT FOR SALE AND PURCHASE OF REAL PROPERTY AND ESCROW INSTRUCTIONS (the “Agreement”) is made this 2o-r~ day of Carlsbad Redevelopment Agency, a body corporate and politic, ( “Buyer”). TULV , 203, by and between SOT0 FAMILY TRUST, (“Seller”), and the RECITALS WHEREAS, Seller is the owner of that certain parcel of real property> located in the City of Carlsbad, State of California, at 2578 Roosevelt Street, consisting of a site measuring 109 feet x 245 feet (.616 acres) with a small vacant single-family residence (the “Property”), more fully described in Exhibit “A” attached hereto and by this reference incorporated herein. WHEREAS, Seller desires to sell and Buyer desires to purchase the Property. NOW, THEREFORE, the parties hereto agree as follows: TERMS AND CONDITIONS 1. - SALE. For good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Seller agrees to sell and Buyer agrees to purchase from Seller the Property, upon the terms and conditions contained in this Agreement. 2. OPENING OF ESCROW. Within two (2) business days after the execution of this Agreement by both parties, the parties shall open an Escrow (“Escrow”) with First American Title Companv by causing an executed copy of this Agreement along with fifty thousand dollars ($50,000) to be deposited with Escrow Holder. This deposit shall be credited to the Purchase Price in event the sale and purchase of the Property is completed under and pursuant to the terms set forth in this Agreement. If the sale is not completed, the deposit shall be returned to Buyer. 3. PURCHASE PRICE. The purchase price for the Property shall be seven hundred fifty thousand dollars ($750,000) (the “Purchase Price”), payable in cash or its equivalent on or before close of Escrow. 4. DUE DILIGENCE. A. Due Diliaence Period. The “Due Diligence Period” shall be a period of time to expire sixty (60) days following open of escrow in which Buyer shall 1 conduct all investigations, inspections, studies, reports and analyses which Buyer deems necessary or prudent for its determination of whether or not to purchase the Property. The foregoing shall include, without limitation, Buyer's review and evaluation, in Buyer's sole discretion, of the feasibility of the property for Buyer's use, Buyer's space requirements, the physical, geological and environmental condition of the Property, permits, zoning, entitlements, land use issues, ingress and egress, parking, water, sewer, electrical and other utilities, title, tenancies, possessory rights, and financing. B. Riaht to Enter. Seller grants to Buyer the right to enter upon the Property at reasonable times prior to the close of Escrow for the purpose of making surveys, engineering studies, soil tests and any other tests or studies deemed necessary in connection with Buyer's proposed development of the Property, provided, however, that except for Seller's negligence or willful misconduct, Buyer hereby agrees to indemnify and hold Seller harmless from any liens or claims which may be asserted against the Property or against the Seller as a result of Buyer 's or its agents' entry on the Property. This indemnity hereinabove shall survive this Agreement and close of Escrow. C. Disapproval. Buyer may disapprove any matters pertaining to the Property and this transaction in Buyer's sole discretion prior to the expiration of the Due Diligence Period, including, without limitation, the matters enumerated in Section 4 A hereof. Such disapproval shall be effected, if at all, by Buyer's written notice which must be received by Seller and by Escrow Holder prior to 500 p.m. on the last day of the Due Diligence Period. Buyer's failure to comply with the foregoing with respect to any matter, item, fact or issue pertaining to the Property shall constitute Buyer's unconditional and irrevocable approval thereof and Buyer's waiver of all objections thereto, and Buyer shall have no further right to terminate this Agreement based on such matters. D. Riqht to Cure. If the Buyer disapproves any matter arising out of the Buyer's due diligence, the Seller shall have the right to cure the disapproved item if such cure will not delay close of escrow. If the Seller elects not to cure a disapproved item, the Buyer will have the right to either 1) accept title to the Property subject to the disapproved item; or 2) to terminate the Purchase Agreement. Seller's right to cure a disapproved item shall not apply to the curing of hazardous substances. E. Termination. If Buyer timely and properly disapproves any condition, issue or matter related to the Property, which is not timely cured by Seller, then except to the extent of the parties' respective indemnification obligations and representations and warranties contained herein, which shall survive the Closing or any cancellation or termination of this Agreement, neither party shall have any further obligations or liabilities to the other following any such termination of this Agreement. 5. TITLE. Seller shall provide Buyer with a current Preliminary Title Report within two (2) business days of execution of this Agreement. 2 A. Permitted Exceptions. All items referenced in the Preliminary Title Report or in the underlying documents which are not disapproved in writing by Buyer prior to the expiration of the Due Diligence Period shall be deemed to be Permitted Exceptions, subject to Buyer's right to disapprove any newly disclosed title matters. Notwithstanding Buyer's title approval rights as set' forth herein, it shall be a condition precedent to Buyer's obligation to close the Escrow hereunder that title to the property shall be free and clear of all monetary liens against the property other than the lien of non-delinquent real property taxes and, assessments, and any monetary liens or other matters arising from Buyer or Buyer's agents' entry, inspections, investigations, financing or other activities. B. ALTA Policv. At the close of Escrow, Seller shall provide Buyer with an ALTA Owner's policy of title insurance in the amount of the Purchase Price, subject only to preprinted exceptions and to any exceptions approved pursuant to this section. Seller shall also pay the insurance premium for a standard CLTA insurance policy. Buyer shall obtain the survey required for issuance of an ALTA extended coverage owner's policy and shall be responsible for the cost of the survey and any excess premium for the extended coverage. 6. CONDITIONS OF PURCHASE. The purchase of the Property shall be subject to the following conditions: A. Demolition and Clearinq. Seller shall be required to obtain all appropriate permits and completely demolish the existing single family home on the property prior to the close of escrow, and shall be required to remove all trash and debris from the site prior to close of escrow. 8. Damaae or Destruction. Prior to Closing, risk of loss of the Property by damage or destruction, or condemnation by governmental entity by other than Buyer, shall be borne by Seller. C. CEQA. City shall have completed any environmental review of the project required by the California Environmental Quality Act. 7. CONFIRMATION OF SATISFACTION. Each of the parties to this Agreement specifically acknowledges that the consummation of close of Escrow is contingent upon compliance with the executory provisions of the Agreement, and that the parties to the Agreement are and shall be the sole persons entitled and authorized to determine whether all of the terms and provisions have been met or complied with prior to the close of Escrow. 8. REPRESENTATIONS AND WARRANTIES. A. Title. Seller warrants that title to the Property shall be free and clear of all monetary liens against the Property other than the lien of non-delinquent real 3 . property taxes and assessments, and any monetary liens or other matters arising from Buyer or from Buyer’s entry, inspections, investigations, financing or other activities. B. Propertv Purchased “As-Is”. Upon providing the Notice to Proceed with closing, Buyer acknowledges that it has inspected the Property and investigated its physical characteristics and conditions, and hereby waives any and all objections to the physical characteristics and conditions of the Property which would be disclosed by such inspection. Buyer acknowledges that neither Seller nor any of its employees, agents, or representatives has made any representations, warranties or agreements to or with Buyer on behalf of Seller as to any matters concerning the Property, the present use thereof, or the suitability of Buyer’s intended use of the Property. C. Leases. Seller warrants that there are no existing leases and/or rental agreements for the property. D. Violations of Law and AQreements. Seller warrants that to its knowledge there are no known violations of law, any order, judgment, injunction, award or decree of a court, arbitrator or governmental or regulatory body, foreign or domestic, against or binding upon Seller or of any agreements, related to the Property. E. Litiqation and Claims. Sellers warrant that there is no pending litigation, arbitration or claims by third parties directly relating to the Property. F. Broker Commissions. Seller and Buyer each warrant that there are no real estate agentdbrokers involved in this transaction and that no real estate commissions, fees, or other compensation are owing in connection with this Agreement or this transaction. Each party shall indemnify and hold the other party harmless from the same and from any loss, cost, damage, or expense, including without limitation, attorneys’ fees and costs of suit, appeal and collection, which such other party may realize, suffer or incur therefrom. 9. DELIVERIES INTO ESCROW. A. Deposits by Seller. On or before the last business day immediately preceding close of Escrow, Seller shall deliver to the Escrow holder the following: (i) Grant Deed. An executed grant deed (the “Grant Deed”), in recordable form, conveying all of Seller ’s right, title and interest in the Property to Buyer. (ii) Nonforeian Certification, Certificates required by 5 1445 of the internal Revenue Code of 1986, and the California Revenue and Taxation Code 5 18815, executed by Seller and in a form satisfactory to Buyer (the Nonforeign Certification), to relieve Buyer of any potential transferee’s withholding liability under such statutes. (iii) Seller‘s Proof of Power and Authoritv. Proof of Seller’s authority and authorization to enter into and perform under this Agreement, and such proof of power and authority of the individuals executing or delivering any instruments, 4 z .. documents, or certificates on behalf of Seller to act for and bind Seller as may reasonably be required by Buyer or the Escrow Holder. (iv) Additional Documents. Any additional documents and/or instructions as are necessary to comply with the terms hereof. B. Deposits bv Buver. On or before two (2) business days immediately preceding close of Escrow, Buyer shall deliver to Escrow Holder the following: (i) Purchase Price. The unpaid portion of the Purchase Price as provided in Paragraph 3 above, if any. (ii) Buyer’s Proof of Power and Authoritv. Proof of Buyer’s authority and authorization to enter into and perform under this Agreement, and such proof of power and authority of the individuals executing or delivering any instruments, documents, or certificates on behalf of Buyer to act for and bind Buyer as may reasonably be required by Seller or the Escrow Holder. (iii) Additional Documents. Any additional documents and/or instructions as are necessary to comply with the terms hereof. C. Escrow Close Date. Escrow shall close seventy-five (75) calendar days following the date escrow is opened for this transaction. Time is of the essence for this Agreement. The escrow date may be extended if additional time is required by either Seller or Buyer to complete any actions set forth within this purchase agreement. Any extension of the escrow shall be subject to prior written approval by both the Seller and Buyer. Possession of the Property shall be delivered to Buyer upon close of Escrow. 10. ESCROW PROVISIONS. A. Escrow instructions. This Agreement, when signed by Buyer and Seller, shall also constitute Escrow instructions to First American Title and Insurance Company. Some of the terms and conditions of this Agreement are additional matters for the information of Escrow Holder but about which Escrow Holder need not be concerned. B. Deliverv of Documents/Execution in Counterpart. Escrow Holder shall deliver the Title Policy to the Buyer and instruct the County Recorder of San Diego County to mail the Grant Deed to Buyer at the address set forth herein after recordation. This Agreement and any modifications, amendments, or supplements thereto may be executed in counterparts and shall be valid and binding as if all of the parties’ signatures were on one document. C. Pavment of Costs. Seller shall pay one-half (1/2) of the Escrow fee, any documentary transfer taxes, premium charges for a CLTA Title Policy and the charge for drawing the Grant Deed. Buyer shall pay one-half (1/2) of the Escrow fee and charges for recording the Grant Deed. All other costs of Escrow not otherwise specifically allocated by this Agreement shall be apportioned between the parties in a manner consistent with the custom and usage of Escrow Holder in San Diego County, California. 5 D. Amendments to Escrow Instructions. Any Amendment or supplement to these Escrow instructions must be in writing. These Escrow instructions constitute the entire Escrow between the Escrow Holder and the parties hereto. 11. MISCELLANEOUS. A. Assiqnment. This Agreement shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heirs, personal representatives, successors and assigns. Buyer shall not be relieved of its responsibility and liability under this Agreement as a result of any assignment. B. Governinq Law. This Agreement shall be governed by the laws of the State of California applicable to contracts made by residents of the State of California and to be performed in California. Venue shall reside in the California State Superior Courts located in Northern San Diego County. C. Notices. Any notice which either party may desire to give to the other party or to the Escrow Holder must be in writing and may be given by personal delivery or by mailing the same by registered or certified mail, return receipt requested, to the party to whom the notice is directed at the address of such party hereinafter set forth, or such other address as the parties may hereafter designate: TO SELLER: Soto Family Trust Attn: Vera Soto 985 Oak Street Carlsbad, Ca. 92008 TO BUYER: Housing and Redevelopment Director City of Carlsbad 2965 Roosevelt Street, Suite B Carlsbad, CA 92008 D. Fair Meaninq. This Agreement shall be construed according to its fair meaning and as if prepared by both parties hereto. This Agreement shall be construed in accordance with the laws of the State of California in effect at the time of the execution of this Agreement. E. Amendments. Any alteration, change or modification of or to this Agreement, in order to become effective, shall be made by written instrument or endorsement thereon and in each such instance executed by of each party hereto. F. Merqer of Prior Aqreements and Understandinas. This agreement and other documents incorporated herein by reference contain the entire understanding 6 between the parties relating to the transaction contemplated hereby and all prior or contemporaneous agreements, understandings, representations and statements, oral or written, are merged herein and shall be of no further force and effect. G. Warranties to Survive Escrow . The warranties and agreements contained herein shall survive the close of Escrow and shall be binding upon and inure to the benefit of the parties hereto and their representatives, heirs, successors and assigns. H. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 1/11 7 .. $. b- .* *I . .+ - IN WITNESS WHEREOF, the parties hereto have executed this Agreement of Purchase and Sale of Real Property and Escrow Instructions as of the date set forth above. SELLER: BUYER: Vera Soto Trust CARLSBAD REDEVELOPMENT Name of Seller (or designeehitle) \/ERA AGU~LAP fRV3Tt35 (print name and title) Date: 3 * 3 0-02, By: \ Date: 7 /3&2- (Proper notarial acknowledgment of execution by Buyer and Seller must be attached.) Chairman, president or vice-president and secretary, assistant secretary, CFO or assistant treasurer must sign for corporations, Otherwise, the corporation must attach a resolution certified by the secretary or assistant secretary under corporate seal empowering the officer(s) signing to bind the corporation.) APPROVED AS TO FORM: RONALD R. BALL, City Attorney BY: 8 Sent By: FIRST AMERICAN; 760 268 4299; Feb-19-03 10:18; Page 919 j First American Title Company 6005 Hidden Valley Road Suite 160, Carisbad, CA 92009 (760) 268-4205 Fax - (760) 268-4299 j 1 AMENDMENT TO ESCROW IIYSTRUCTXONS I To: First: Amerlcan TI le Company i October 10,2002 File No: DCB-607073 (DD) Ae *w&.R-* The above referenced &row Is hereby modified in the following particulars Only: 1. Buyer's Due Diligence Perlod is hereby extended to 5:00prn, December 2,2002. Buyer to deposit written approval/disapprovaI by said date and time. €arbbad, CA .. - . .. .,~ - ALL OTH~R TERMS AND CONDITIONS OF THIS ESCROW WIU REMAIN THE SAME. Sot0 Family Trust 1 I Vera Aguilar Soto, Tdstee I Vera Soto, Individual . . - . . ._ .. . .. - . . ,. . .,.. . .. , I Carlsbad Redevelopment Agency PLEASE SIGN & RETURN Sent By: FIRST AMERICAN; 760 268 4299; Feb-19-03 10:18; Page 8/9 First American Title Company 6005 Hidden Vailey Road Suite 160, Cartsbad, CA 92009 (760) 268-4205 Fax - (760) 268-4299 i 1 AMENDMENT TO ESCROW INSTRU~ONS To: Arst American Ti e Company October 10,2002 File No: DCB-tW7073 (DO) r I@"'= .' ' Re: 2S70RaaSevelt The above referenced row is hereby modlfled in the following particulars onb 1. Buyer's Due Diligence Period is hereby extended t.0 5;00pm, December 2,2002. Buyer to dcpasit written approval/disapproval by said date and the. . . - - ALL OTH$R TERMS AND COND~ONS OF THIS ESCROW WILL REMAIN THE SAME. i SotaFamily Trust ; , Carisbad Redeveloprhnt Agency By: Raymond Patehett Sent By: FIRST AMERICAN; 760 268 4299; Feb-19-03 10:17; Page 519 i FitstAmetfwn Title Cornparry 600 Hii##en Vat.4eyRdSuite lm, &dsW, c4 92009 (760) 268-4245 fax - (7H) 268-4299 I AMENDMENT TO ESCROW INSTRUCTIONS To: First AmerlcanTitl Company I! December 03,2002 File No: PCB-607073 (DD) I 1. Buyer's Due'Diligence period is hereby extended to S:OOpm, January 15,2003. Buyer tn deposit 2. The parties bcknowiedge that the close of escrow is hereby extended to January 31,2003, written app m val/disapproval by said date and time. i ALL OTH R TERMS AND CONDITIONS OF THIS ESCROW WILL REMAIN THE SAME. 1. i Soto Family Trust , 1 I Vera Aguilar Soto, T stee 3 1 I - Soto, Individual ' ., . . . _" -. . . Carisbad Redevelopnjrent Agency By: Rahond Pa@ett . I Sent By: FIRST AMERICAN; 760 260 4299; Feb-19-03 10:17; Page 6/9 To: First American Title Company December 03,2002 File No: DCB-607073 (DD) . Re: 2578 Roosevelt S 'a, Carlsbad, CA 7 The above refermeid is-tiiieljjiMifled in the'fallowlng particulars Oniy: ' - ... .. . 1, Buyer's Due Dillgcnce period is hereby extended to 5:00pm, January 15,2003. Buyer to deposit 2. The parties &chowledge that the close of escrow is hereby extended to January 31, 2003. written app 4 valjclisapprovdl by said date and time. I ALL CrrH TERMS AND CONDKIONS OF THIS ESCROW WILL REMAIN WE SAME. f . . ." ". --- "' 1 Carlsbad Redevelopdent Agency 6y: Raymond Pa&hett , i I .. . . I 1. Buyer's Do4 Diligence period Is hereby extended to Ei:OOpm, February 18,2003. Buyer to deposit written app/roval/dkpproval by said date and time. ALL OTHFR ERMS AND CONDITIONS OF THIS ESCROW WILL WMAIN THE SAME. i ... ._ ...... - .. .. _- I Carlsbad Redevelopment Agency I i I By: Raymond Pdchett ......... ".l,.. ..... I .... ............. ,..., .. Page lof 1 Sent By: FIRST AMERICAN; 760 268 4299; Feb-19-03 10:16; Page 3 January r5,2003 Flle No; DCB-607073 (DD) The above referenced row is heteby modified in the following particulars only; 7 1, Buyer's DuelDlligence period is hereby extended to 5:00prn, February 18,2003. Buyer to deposit written app val/disapproral by said date and time. 2. The parties cknowledge that the close of escrow Is hereby extended to March 3,2003. -1 R TERMS AND CWYD~IONS OF THIS ESCROW WIlL REMAIN THE SAME. Soto Family Trust i I Vera Aguilar Soto, Tt$stee I .... . ..... ....... " .-... - ... Carlsbad Redevelop ent Agency n 6 I RECEIVED JAM 2 3 2003 PkASE SIGN & RETURN Fags lob 1 I r I . 4 AGREEMENT FOR PURCHASE OF REAL PROPERTY AND ESCROW INSTRUCTIONS AMENDMENT NO. 4 This is AMENDMENT NO. 4 to the original AGREEMENT FOR SALE AND PURCHASE OF REAL PROPERTY AND ESCROW INSTRUCTIONS executed on July, 30, 2002, and is made this / f 7H day of &%&&X$-, 2003, by and between SOT0 FAMILY TRUST, (“Seller”), and the CARLSBAD REDEVELOPMENT AGENCY, a body corporate and politic, (“Buyer”). - RECITALS WHEREAS, the Seller and the Buyer executed an Agreement for Purchase of Real Property and Escrow Instructions on July 30, 2002 for that certain parcel of real property located in the City of Carlsbad, State of California, at 2578 Roosevelt Street. WHEREAS, the Seller and the Buyer desire to amend the original Agreement to reduce the size of the property being purchased to 25,410 square feet and the purchase price accordingly to $690,000, based on a required lot line adjustment to address encroachments identified during the ALTA Survey. NOW, THEREFORE, the parties hereto agree as follows: TERMS AND CONDITIONS 1. PROPERTY. The findings of the Alta Survey completed by Buyer during the due diligence period indicated that there were encroachments on the subject property from adjacent properties. The Seller has agreed to process a lot line adjustment to eliminate the encroachments on the Property prior to the close of escrow. The lot line adjustment shall reduce the size of the subject property from 26,705 square feet to no less than 25,410 square feet. 2. PURCHASE PRICE. Paragraph No. 3 of the original Agreement shall be amended to reduce the purchase price for the subject property from $750,000 to $690,000. 3. SALE. Seller agrees to sell and Buyer agrees to purchase from Seller the Property subject to the terms and conditions set forth within this Amendment, with all other conditions of the original Agreement to remain the same. 1111 1111 1111 11/11 r ... 4. Escrow Close Date. Paragraph 9(C) of the original Agreement shall be amended to extended the Escrow Close Date to March 11, 2003 to allow additional time for both the Seller and Buyer to complete any and all actions set forth within the original Agreement and this Amendment. IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 4 to Agreement of Purchase and Sale of Real Property and Escrow Instructions as of the date set forth above. SELLER: BUYER: VERA SOT0 TRUST Vera Aguilar Soto, Trustee Z&+jJ Y/ Date: FEB 1 1 2003 City Clerk APPROVED AS TO FORM: RONALD R. BALL, City Attorney G& MOBALDI Askistant City Attorney Sent By: FIRST AMERICAN; :RECOkDXNG ReQUESED BY First American Title Company AND WHEN RECORDED MAIL TO: Carlsbad Redevelopment Agency 2578 Roosevelt Street Carkbad, CA 760 268 4299; Oct-1 -02 16115; Page 315 EXHIBIT 8 4 TO AB 17,089 1 1 Space ave This for Recorder's GRANT DEED FOR A VALUABLE CONSIDERATION, recelpt of which is henby acknowledged, Vera Agullar SOtO, Trustee under the Vera Aguilar Soto Trust who acquired title as Vera Soto Individually hereby GRANTS to Carlsbad Redevelopment Agency the following described property in the City of Carlsbad, County of San Diego, State of California; See Attached Exhlbit "A" Dated: mber QS.2902 Soto Family Trust Mail Tax Statements To: SAME AS ASWE or Address Shown Below 27 Sent By: FIRST AMERICAN; 760 268 4299; OCt-1 -02 16:15; Page 415 A.P.N.: - Grant Deed - continued File NO.: bcB-607013 (DD) Date: 09[05/2002 Page 26 3 Sent By: FIRST AMERICAN; .. A.P.N.: '. 760 268 4299; Oct-1-02 16:16; Page 5/5 File No.: DCB-607073 (DD) Date: 09 f 05/2002 Exhiblt "A" Lot 44 of Seaside Lands, in the City of Carlsbad, County of San Diego, State of Callfornia, according to Map thereof No. 1722, filed [n the office of the County Recorder of said San Oiego County July 28,1921; E%cepting the plortheasterly 120 feet thereof, said Northeasterly 120 feet being measured along the Southeasterly llne of said lot and parallel with the Northeasterly line of said Lot 44. Page 3 of 3 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 CITY COUNCIL RESOLUTION .. 2 Q @S- 0 5 7 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING CERTAIN ACTIONS AND APPROPRIATING FUNDING FOR ACQUISITION OF PROPERTY AT 2578 ROOSEVELT STREET BY THE REDEVELOPMENT AGENCY OF THE CITY OF CARLSBAD TO DEVELOP HOUSING FOR LOWER INCOME AFFORDABLE HOUSING PURPOSES WHEREAS, the City of Carlsbad has a significant need for affordable housing throughout the community as set forth in both its Housing Element of the General Plan and the City’s federally-required Consolidated .. Plan; WHEREAS, the provision of affordable housing within the Village Redevelopment Area will have a substantial benefit to the Redevelopment Project Area, as well as the remainder of the community; and WHEREAS, the City Council, acting as the Housing and Redevelopment Commission, previously authorized Redevelopment Agency Staff to enter into negotiations and execute a contract to purchase property at 2578 Roosevelt Street for affordable housing purposes; and WHEREAS, Redevelopment Agency Staff has completed negotiations with the current property owners to acquire the property at 2578 Roosevelt Street, under no threat of condemnation and at a fair market value, for the purpose of developing affordable housing opportunities for lower income households; and WHEREAS, the Design Review Board, based on the facts presented to it, found that the acquisition of the subject property is consistent with the General Plan; and WHEREAS, based on the facts presented to the City Council, the council has determined that the acquisition of the subject property is consistent with the goals and objectives of the Village Redevelopment Plan and of benefit to the project area; and WHEREAS, acquisition of the subject site and the ultimate development of an affordable housing project will increase affordable housing inventory within the City of Carlsbad. WHEREAS, per Section 15280 of the State CEQA Guidelines, the acquisition of the property is exempt from environmental review under CEQA because the acquisition is for the purpose of developing affordable housing; and WHEREAS, an Environmental Assessment required by 24 CFR 58, Section 58.36 of the National Environmental Protection Act was performed by staff and a Finding of No Significant Impact was made, and no further review under NEPA is required. NOW, THEREFORE, BE IT HEREBY RESOLVED, by the City Council of the City of Carlsbad, as follows: 1. The above recitations are true and correct. 9 ,% 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 CC Resolution No. 2003- 057 Page 2 2. The City Council, acting as the Housing and Redevelopment Commission, previously authorized the Housing and Redevelopment Director to negotiate and execute a purchase agreement for the property at 2578 Roosevelt Street for affordable housing purposes. 3. The City Council hereby APPROVES the acquisition of the property at 2578 Roosevelt Street by the Carlsbad Redevelopment Agency in the amount of Six Hundred Ninety Thcusand dollas ($690,000) for the purpose of developing affordable housing to serve lower income households, subject to all terms and conditions set forth in the previously executed purchase agreement and related escrow instructions. 4. The City of Carlsbad Federal Home Investment Partnership Program Funds (HOME) and Community Development Block Grant Funds (CDBG) will be used by the Redevelopment Agency in combination with Redevelopment Low and Moderate Income Housing Funds to finance the acquisition of the subject property for lower income affordable housing purposes. 5. The City Council authorizes the Housing and Redevelopment Director to forward a request to the County of San Diego to process a wire transfer of $268,649 in previously approved federal HOME funds to the escrow holder to assist with the Redevelopment Agency’s acquisition of the property located at 2578 Roosevelt Street. 6. The Finance Director is hereby authorized to forward $376,35 1 in previously appropriated federal CDBG funds to the escrow holder to assist with the Redevelopment Agency’s acquisition of the property located at 2578 Roosevelt Street. 7. The City Council authorizes the Housing and Redevelopment Director to execute all appropriate acquisition documents as deemed appropriate and subject to prior approval of the City Attorney. 8. The City Council authorizes the City Clerk to execute the Certificate of Acceptance of the Deed for the subject property, upon preparation by the Escrow Officer and on behalf of the Redevelopment Agency. f/f Iff Iff 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 9. The City Council authorizes the staff to proceed with issuance of a Request for Proposal or Request for Qualifications to seek a qualified non-profit affordable housing developer to work in partnership with the Redevelopment Agency to develop affordable housing on the subject site. PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Carlsbad, California, held on the 4' day of March, 2003 by the following vote, to wit: AYES:council Members Lewis, Finnila, Kulchin- NOES: Council Members Hall and Packard. ABSENT: None. ABSTAIN: None. CLAUDE A. LEWIS , Mayor ATTEST: LPINE M. WOOg/City Clerk ,/ t (SEAL) CC Resolution No. 2003-057 Page 3 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 HOUSING AND REDEVELOPMENT RESOLUTION NO * 362 A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING CERTAIN ACTIONS AND APPROPRIATING FUNDING FOR ACQUISITION OF PROPERTY AT 2578 ROOSEVELT STREET BY THE REDEVELOPMENT AGENCY OF THE CITY OF CARLSBAD TO DEVELOP HOUSING FOR LOWER INCOME AFFORDABLE HOUSING PURPOSES WHEREAS, the Redevelopment Agency of the City of Carlsbad, hereinafter referred to as “Agency”, is a Community Redevelopment Agency organized and exiting under the Community Redevelopment law, health and Safety Code Section 33000, et. Seq., hereinafter referred to as the “Act”; and WHEREAS, the Agency is authorized to implement the Redevelopment Plan for the Carlsbad Village Redevelopment project Area; and WHEREAS, Section 33334.2 of the Act requires that no less than twenty percent (20%) i of all taxes which are allocated to the Agency be used for purposes of increasing and improving 1 the community’s supply of low and moderate income housing; and WHEREAS, pursuant to Section 33334.2(g) of the Act, the Agency may use these hds inside or outside the project area upon a resolution of the Agency and the legislative body that the use will be of benefit to the project. This determination shall be final and conclusive as the issue of benefit to the project area; and WHEREAS, to carry out the purposes of increasing and improving the community’s supply of low and moderate income housing, Section 33334.2(e) of the Act states that the Agency may exercise any or all of its powers, including without limitations, acquiring land or building sites, improving land or building sites with onsite or off-site improvements, donation of land to private or public persons or entities, constructing buildings or structures, acquiring buildings or structures, providing subsidies to, or for the benefit of, very low income households, lower income households, or persons or families of low and moderate income, or other powers to cany out the purposes of the Act; and WHEREAS, the City of Carlsbad has a significant need for affordable housing throughout the community as set forth in both its Housing Element of the General Plan and the City’s federally-required Consolidated Plan; WHEREAS, the provision of affordable housing within the Village Redevelopment Area will have a substantial benefit to the Redevelopment Project Area, as well as the remainder of the community; and WHEREAS, the Housing and Redevelopment Commission, previously authorized Redevelopment Agency Staff to enter into negotiations and execute a contract to purchase property at 2578 Roosevelt Street for affordable housing purposes; and 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 HRC Resolution No. 362 Page 2 WHEREAS, Redevelopment Agency Staff has completed negotiations with the current property owners to acquire the property at 2578 Roosevelt Street, under no threat of condemnation and at a fair market value, for the purpose of developing affordable housing opportunities for lower income households; and WHEREAS, based on the facts presented to the Commission, the Commission has determined that the acquisition of the subject property is consistent with the goals and objectives of the Carlsbad Village Redevelopment Plan, the Village Master Plan and Design Manual, the 2000 - 2004 Village Redevelopment Area Implementation Plan and the Housing Element of the General Plan; and WHEREAS, acquisition of the subject site and the ultimate development of an affordable housing project will increase affordable housing inventory within the City of Carlsbad, and for the benefit of the Village Redevelopment Area; and WHEREAS, per Section 15280 of the State CEQA Guidelines, the acquisition of the property is exempt from environmental review under CEQA because the acquisition is for the purpose of developing affordable housing; and WHEREAS, an Environmental Assessment required by 24 CFR 58, Section 58.36 of the National Environmental Protection Act was performed by staff and a Finding of No Significant Impact was made, and no further review under NEPA is required. NOW, THEREFORE, BE IT HEREBY RESOLVED, by the Housing and Redevelopment Commission of the City of Carlsbad, as follows: 1. 2. 3. 4. The above recitations are true and correct. The Housing and Redevelopment Commission previously authorized the Housing and Redevelopment Director to negotiate and execute a purchase agreement for the property at 2578 Roosevelt Street for affordable housing purposes. The Housing and Redevelopment Commission hereby APPROVES the acquisition of the property at 2578 Roosevelt Street by the Carlsbad Redevelopment Agency in the amount of Six Hundred Ninety Thousand dollars ($690,000) ,for the purpose of developing affordable housing to serve lower income households, subject to all terms and conditions set forth in the previously executed purchase agreement and related escrow instructions. The City of Carlsbad Federal Home Investment Partnership Program Funds (HOME) and Community Development Block Grant Funds (CDBG) will be used by the Redevelopment Agency in combination with Redevelopment Low and Moderate Income Housing Funds to finance the acquisition of the subject property for lower income affordable housing purposes. 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 HRC Resolution No. 362 Page 3 5. 6. 7. 8. 9. Ill Ill Ill The City Council authorizes the Housing and Redevelopment Director to forward a request to the County of San Diego to process a wire transfer of $268,649 in previously. approved federal dOME funds to the escrow holder to assist with the Redevelopment Agency’s acquisition of the property located at 2578 Roosevelt Street. The Finance Director is hereby authorized to appropriate $268,649 in federal HOME funds and to forward $376,351 in previously appropriated federal CDBG finds to the escrow holder to assist with the Redevelopment Agency’s acquisition of the property located at 2578 Roosevelt Street. The Housing and Redevelopment Commission authorizes the Finance Director to expend fifty thousand dollars ($50,000) fiom the Redevelopment Low and Moderate Income Fund which have previously been placed on deposit with the escrow holder to assist with the Redevelopment Agency’s acquisition of the property located at 2578 Roosevelt Street. The Housing and Redevelopment Commission authorizes the Housing and Redevelopment Director to execute all appropriate acquisition documents as deemed appropriate and subject to prior approval of the City Attorney. The Housing and Redevelopment Commission authorizes the City Clerk to execute the Certificate of Acceptance of the Deed for the subject property, upon preparation by the Escrow Officer and on behalf of the Redevelopment Agency. 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 10. Upon completion of the purchase transaction, the Housing and Redevelopment Commission authorizes the staff to proceed with issuance of a Request for Proposal or Request for Qualifications to seek a qualified non-profit affordable housing developer to work in partnership with the Redevelopment Agency to develop affordable housing on the subject site. PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Carlsbad, California, held on the day of March, 2003 by the following vote, to wit: AYES: Council Members Lewis, Finnila, Kulchin. NOES: Council Members Hall and Packard. ATTEST: (SEAL) HRC Resolution No. 362 Page 4