HomeMy WebLinkAbout2011-12-13; City Council; 20764; AMENDMENT BLOCK GRANT PROGRAM ACTION PLANCITY OF CARLSBAD - AGENDA BILL 11
AB# 20,764 AMENDMENT TO 2011-2012
COMMUNITY DEVELOPMENT BLOCK
GRANT PROGRAM ACTION PLAN
DEPT. DlRECJO^^\^^J^
MTG. 12/13/11
AMENDMENT TO 2011-2012
COMMUNITY DEVELOPMENT BLOCK
GRANT PROGRAM ACTION PLAN CITY ATTY.
DEPT. HNS
AMENDMENT TO 2011-2012
COMMUNITY DEVELOPMENT BLOCK
GRANT PROGRAM ACTION PLAN CITY MGR. lU
1
RECOMMENDED ACTION:
Adopt City Council Resolution No. ?ni 1-288 authorizing the submittal of an
amendment to the City's 2011-2012 Community Development Block Grant (CDBG) Program
Action Plan to allow for the allocation of program Income received in 2011.
ITEM EXPLANATION:
The U.S. Department of Housing and Urban Development (HUD) requires the preparation of
an annual CDBG Program Action Plan to describe how those federal funds will be used. Any
substantial changes to the plan requires that an Amended Action Plan be submitted to HUD
after completion of a public hearing and review process. The City must amend its 2011-2012
Action Plan to allow for the expenditure of $1,847,906 in CDBG Program Income received
earlier this year as a result of a loan refinancing by Bridge Housing for the Villa Loma
Apartments property. The refinancing resulted in funding proceeds substantial enough to
remit full payment for accrued lease payments and related interest charges for said property.
Because the Villa Loma property was acquired with CDBG funds, the lease payments are
considered to be program income and must be used for CDBG-ellgible programs and/or
projects.
The noted payment was much more substantial than the normal lease payment received
each year. And, because it was unexpected, it was not considered in the original CDBG
funding plan for Program Year 2011-12. Therefore, it is necessary at this time for the City to
amend its funding plan and identify eligible programs and/or projects that are ready to initiate
within a few months. In order to comply with CDBG Program expenditure requirements, the
program income will need to be expended by April, 2012.
Due to the short timeframe for which the funds must be expended, Staff concentrated on
identifying potential properties for the City to acquire for affordable housing opportunities or
other purposes to benefit low income households. City acquisitions are typically the quickest
method for expending CDBG funds. Staff was not successful in identifying an appropriate
site for a city-initiated project. Subsequently, staff notified all recent applicants for CDBG
funds of the potential availability of the funds to determine if any of them had plans for
property acquisition which could be completed prior to April. The City received proposals
from North County Health Services and Interfaith Community Services for use of the funds.
DEPARTMENT CONTACT: Frank Boensch 760-434-2818 frank.boensch(5)carlsbadca.gov
FOR CITY CLERKS USE ONLY.
COUNCIL ACTION: APPROVED CONTINUED TO DATE SPECIFIC •
DENIED • CONTINUED TO DATE UNKNOWN •
WITHDRAWN • RETURNED TO STAFF •
AMENDED • COUNCIL RECEIVED THE •
REPORT/PRESENTATION
OTHER-SEE MINUTES •
Page 2
North Countv Health Services Request (Exhibit 3)
North County Health Services (NCHS) has operated a small health center at 3050 Madison
Street in Carlsbad since 1999. The health center originally provided services for entire
families, but has had to transition to a pediatric only health center due to lack of space
because the number of clients using the center has greatly expanded over the years. The
organization has also had to lease office space across the street to replace space formerly
used for administrative purposes that is now used for examination areas. NCHS has
identified larger medical office space available for sale located at 1295 Carlsbad Village Drive
and is requesting that up to $1,186,000 in program income be allocated for acquiring that
property. The actual acquisition cost may be lower depending on the appraised value of the
property. HUD requires payment of fair market value when using federal funds for acquisition
unless findings can be made to justify a different purchase price.
Interfaith Community Services Request (Exhibit 4)
Interfaith Community Services (ICS) has leased a facility at 2195 Oceanside Boulevard since
2004 to serve as its Coastal Service Center. The Coastal Service Center provides social
services to lower income households from throughout the North County coastal area. ICS
has an opportunity to acquire the property through bankruptcy proceedings. Acquisition of
the property will ensure that operation of the facility will continue in the current location. ICS
conservatively estimates that 7 percent of those seeking services at the Coastal Service
Center are Carlsbad residents. They are requesting that the City provide $84,000 to assist in
the acquisition, which is 7 percent of the $1.2 million proposed purchase price.
The two requests above would require $1,270,000 of the available funding. There remains
$577,906 available for one or more additional projects. Recently, staff was made aware of a
need by Catholic Charities for additional funding for their homeless farm worker shelter
project. In addition, another potential affordable housing project has been proposed in
Carlsbad which will require funding for property acquisition by a non-profit housing
corporation. Below is a description of those programs.
Catholic Charities Request (Exhibit 5)
The City has allocated $2 million in Agriculture Conversion Mitigation Fee Program funds for
the rebuilding of the existing La Posada de Guadalupe homeless shelter to accommodate
additional homeless farm workers (50 bed shelter to 100 bed shelter). The City Council has
also allocated $361,583 in CDBG funds for predevelopment activities related to the project.
Approximately $144,000 of that has been spent on those activities, leaving approximately
$217,000 In CDBG funds available to pay for remaining predevelopment activities or
development fees. Recently, Catholic Charities indicated to the City that they require
additional funds due to some unexpected development costs and fees. It is estimated that
Catholic Charities may require up to an additional $300,000 to completely fund this project.
The City has received the attached request from Catholic Charities for that amount to
complete the project funding, and to pay all required fees. CDBG Program Income may be
used for the purpose set forth in the Catholic Charities request.
Page 3
Affordable Housing Request
City staff has recently been involved in discussions with private affordable housing
developers which may lead to the acquisition and rehabilitation of existing property in
Carlsbad. Staff is recommending that the amendment to the Action Plan indicate that any
remaining program income, that which is not allocated to the other projects described above,
be allocated to acquisition of property for affordable housing as to be defined by the City.
Actual agreements for appropriation of funds for acquisition of the property would be
fonwarded to the City Council for approval at a later date. If the above projects are approved
for funding at the amounts noted, there will be approximately $277,900 or more remaining for
an affordable housing project.
FISCAL IMPACT:
The City of Carlsbad has received CDBG Program Income of $1,847,906 from Bridge
Housing for accrued lease payments and related interest charges for the Villa Loma
Apartments property. Use of these funds needs to be expedited to ensure that the City can
meet federal expenditure requirements in 2012. Noncompliance of that requirement may
result in the loss of future CDBG funds. Grant agreements for use of the funds will not be
executed until HUD approves the City's amendment to the 2011-2012 Action Plan. The
CDBG Program has no impact on the General Fund.
ENVIRONMENTAL IMPACT:
Pursuant to Public Resources Code Section 21065, approval of the submittal of an
amendment to the 2011-2012 Action Plan, does not constitute a "project" within the meaning
of CEQA in that it has no potential to cause either a direct physical change in the
environment, or a reasonably foreseeable indirect physical change in the environment, and
therefore does not require environmental review.
EXHIBITS:
1. Resolution No. 2011-288 approvinq the submittal of the 2011-2012 Amended Action
Plan to the U.S. Department of Housing and Urban Development.
2. List of Projects to be added by amendment to 2011-2012 Action Plan.
3. Request for funding from North County Health Services.
4. Request for funding from Interfaith Community Services.
5. Request for funding from Catholic Charities.
3
RESOLUTION NO. 2011-288
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE SUBMITTAL OF AN AMENDMENT TO
THE 2011-2012 ACTION PLAN FOR THE CITY'S COMMUNITY
DEVELOPMENT BLOCK GRANT PROGRAM TO THE U.S.
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
6
WHEREAS, the City Council of the City of Carlsbad, California, has received a
7 report on proposed projects for use of program income for the City's City's 2011-2012
Community Development Block Grant Program; and,
WHEREAS, the City must prepare an amendment to the 2011-2012 Action Plan
9 to add new projects to be undertaken that were not included as part of that Action Plan;
and,
10
11
12
13
26
27
28
WHEREAS, the City Council has taken all testimony into account.
NOW, THEREFORE BE IT HEREBY RESOLVED as follows:
1. That the above recitations are true and correct.
24 2. That the City Council approves the submittal an amendment to the 2011 -2012
Action Plan for the Community Development Block Grant Program to the U.S.
15 Department of Housing and Urban Development which adds projects to the
Action Plan at funding levels as indicated in attached Exhibit 2.
16
3. That the City Manager, with City Attorney concurrence, is authorized to
17 execute funding agreements with organizations for approved funding amounts
as listed in the attached Exhibit 2.
18
19
20
21
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23 ///
24 ///
25 ///
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1 PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council
2 of the City of Carlsbad on the 13'^ day of December, 2011, by the following vote to wit:
3
4
5
6
7
8
9
10
12'
13
14
AYES: Council Members Hall, Kulchin, Blackburn and Packard.
NOES: None.
ABSENT: Council Member Douglas.
11 MATT HALL, Mayor
ATTEST:
15 /-yiMAJiiAvU
^LdRRAlNE M. WOOD, City Clerk
16 (SEAL)
17
18
19
20
21
22
23
24
25
26
27
28
Exhibit 2
PROJECTS TO BE ADDED BY AMENDMENT TO
2011-2012 CITY OF CARLSBAD ACTION PLAN
AGENCY/PROJECT TYPE OF
PROJECT
REQUESTED
AMOUNT
RECOMMENDED
FUNDING
1 Catholic Charities/ Rebuilding of La
Posada de Guadalupe Shelter
Affordable Housing $300,000 Up to $300,000 as
needed for
development fees
and/or other
predevelopment
expenses
2 Interfaith Community Services
Acquisition of Property
Public Facilities/
Improvements
$84,000 $84,000
3 North County Health Services
Acquisition of Property
Public Facilities/
Improvements
$1,186,000 Up to $1,186,000
as needed based
on appraised
value.
4 City of Carlsbad
Acquisition of Property
Affordable Housing $277,906 Balance of funds
not required for
other projects up
to the maximum
available for
program income
Total $1,847,906
NORTH
COUNTY
HEALTH
SERVICES
EXHIBIT 3
Corporate Administration
ISOValpreda Road
San Marcos, CA 92069
(760) 736.6700
www.nchs-health.org
lliMACOTA,M.PH Presidmi&CEO
October 4, 2011
Frank Boensch
Sr. Management Analyst
Housing & Neighborhood Services
City ofCarisbad
2965 Roosevelt Street, Suite B
Carlsbad, CA 92008
Dear Frank,
CAILSMD FAWY MnXONE
CaHibc<i.a92008
(760|72ff?76«
fo«|;«)| 720.72(14
ENCINITAS WOMEN « CHIIiWEN'S '
HEALTH CENIH
IIJOSKOCCSSMI
E<iCi>Moi,CA9202i
WHS 17601943 W94
Psiotnci (7601179.4620
fox |740] 9431661
ENCINITAS HEALTH CENnil
629 SecoiKl Sne«
EM:«*i.a92024
176017537842
foi. (7601 753725?
GRAND AVENUE FAMILY MEMCINE '
727V^eiiS<inltecoi8W Sn 112
Thank you for the opportunity to submit a proposal for use of part of the $ 1.8
million the City's Community Development Block Grant program has to spend. We
believe our proposed project is of high need and demand and would greatly benefit
residents of Carlsbad.
North County Health Services (NCHS) is proposing the purchase of a new building
for our Carlsbad Health Center that would allow us to increase capacity to serve
more patients and to provide additional services. In April of 2011 the Carlsbad
Health Center transitioned from a site that provided family practice services to a site
that could only provide pediatric services. This decision was based largely on the
reality that the current location is limited in size. Continuing to position ourselves as
a family practice was testing the limits of our capacity and could have had negative
impacts on our patient's ability to access care in a timely manner. NCHS conducts
many outreach activities in the City of Carlsbad, but unfortunately can only refer
adult patients to health centers that are in Oceanside or Encinitas which poses a
barrier to access for these patients due to the inability to access transportation. Also,
NCHS has had to rent additional space across the street from the Carlsbad Health
Center for administrative purposes in order to continue current operations. The
current health center has reached its maximum capacity to serve patients but he
demand for health care is continuing to increase.
We would like to propose the purchase of a new health center building available in
Carlsbad that is 0.6 miles away from our current health center. This new building is
located at 1295 Carlsbad Village Drive, Carisbad, CA 92008 and is 2,695 usable
square feet Our current health center is only 1,250 square feet so this new building
is more than double the size of our current site. This new building is listed at
$1,186,000 but sale comparisons suggest a sale price of $ 1.1M. Additionally, there
is a bus stop in front of the medical plaza for easy access for our patients. There is
SciM»M!.CA 92069 (7601 73M810 fw 17601736.3157
OCEANSIDE DENTAL
2216S ElCcm<uiR«l(121.122
Ocmnia 092054
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MISSION MESA CEDIATRICS
2210Vfial>>«.S>E 12
Ocesnside. CA 92054
(7601966J306
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MISSION MESA WOMEN'S
HEALTH CENnt
22I0We»Ot«,*5.S6.47 S3
0:wBKle.CA 92054
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fo« (760)967^863
NCHS-LOMA ALTA
605 Cmd> Stni
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NCHS-LAMISION
3220MiisionAviflue. Unil 1
Ocjonwle. CA 92054
1760) 7574566 Fm (760) 7573004
RAMONA HEALTH CENm 217 toil tcrtkom
taKae. CA 92065
(76017891223
Fox (7601 78^152
SAN MARCOS HEALTH CENHR
l50V!>lpndi>Eo6d
San Macoi.CA 92069
1760( 7366767
Fox (760) 73M797
WK
(760(7524324
COMMJNITY CASE MANAOEMWT
(76017364725
7
also ample parking for staff and patients. In order to meet the City's matching
requirement, NCHS proposes to commit to paying for all tenant improvement
which is estimated at $400,G00-$500,000 using cash reserves with support from the
sale of the current Carlsbad Health Center.
Currently, NCHS serves nearly 2,500 patients annually at full capacity including
over 300 seasonal and migratory agricultural workers. By doubling the square
footage of our current site we will be able to bring on an additional provider and
staff to double the patient capacity to 5,000 patients per year. Also, we will be able
to revert back to a family practice health center so that we can also serve adults and
their families. According to the attached map of where our current Carlsbad Health
Center patients reside, the majority of our patients are residents of Carlsbad. With
the proposed health center expansion, we will expect to continue to serve mostly
Carlsbad residents with the capacity to serve additional patients from the
surrounding cities. In 2010, 96% of Carlsbad Health Center patients were at or
below 200% of federal poverty level and considered low-income. These patients
need continued access to health care, especially since we had to limit our services to
pediatrics only.
At the most recent NCHS Board meeting on October 11, 2011 that Board of
Directors approved the proposal for a new Carlsbad Health Center. If we were
awarded funding from the City of Carlsbad to purchase this property we would be
able to make an offer immediately as it is available now. Following the offer there
will be an estimated 1 week of negotiations and then up to 30 days of due diligence
depending on the City and NCHS' requirements for purchase. The closing of
escrow could happen as soon as 3-5 days following the due diligence process if we
had the funding to purchase the building and did not have to undergo a financing
process. The entire process leading to the closing of escrow would be 15 to 60 days
depending on our own timelines and review processes.
Thank you for your consideration of this proposal and please feel free to contact me
with any questions or concerns.
Sincerely,
Irma Cota, MPH
President and CEO
•^^g'^^f^^CCVal.
. Robles
'3^^^»iaGft5 - Oceanside Heqlth.Cferft6fit5./J .* •, •* * f .* ..•* - .
• GHfy^Nettleton/^a^Sfe^i^.^
^1.
Carlsbad Family Medrojne^
'•« « k.. v v ? • 5 ICHW'-^•cSst'a Paloh
North County Health Services
CARLSBAD FAMILY MEDICINE PATIE
1 Dot Represents One Patient
•j^ NCHS Carlsbad Family IVledictne
O Other Facilities
I^CyW Esper,bnza Garden
fip^sMemorialHospitfil
Municipal Boundary
ZIP Code Boundary
*Patients attending tTsatth center -
between January 2009 and April 2010
2 Miles A N June 2010
EXHIBIT -4
UJ
li:.
.i..J
HSH3Sfalth
'A
c o m m u n 11 y s e r vices
www.interfaithservices.0r3
October 18,2011
Frank BoensCfe
SeniorMans^nient Malyst
City of Carlsbad
Hdtlsihg & Neighborhood
2965 R6osevdt Str^et^ Suite B
Carlsbad, Califomia 92008
Re: Letter of Interest for Use of City CDBG Funds - Property Acquisition COASTAL SERVICE CENTER
, 2195 Oceanside Blvd.
Oceanside, CA 92054
Teir (760) 721-2117
Fax:(760)721-0351
BETTY & MELVIN COHN CENTER
: 550 W. Washington Ave., Ste B
Escondido, CA9!2Ce5
Tel: (760) 489-6380
.Fax:(760)740-0837
Deaj-^fc B<M!nsid^^
Please accept this letter of interest and propios'al ^om lnterfai& Con^
Services for use of a part of the City's available $1.8 million in CDBG funds,
for acquisition of prpperty to benefit City of Ca^^
Proposed tJse of Funds
Interfaith has operated its Coastal Service cienter at 2195 Oceanside Blvd.,
Oceanside, since 2004. This has been under a lease arrangement for this
property, which has been under prolonged bankruptcy proceedings. This
bankruptcy is now winding up, and Interfaith is presented with the opportunity
to purchase this property. This acquisition will insure the continuation of
services from this center, including our significant support annually to
Carlsbad households in need. Assistance to Carlsbad residents from 2195
Oceanside Blvd. is funded in part by City of Carlsbad CDBG funding. City
CDBG funds to Interfaith for this purpose have been, tiiankfully, consistent,
stretching at least over the last six years, based on the need for and our ability
to provide this support.
Total Cost of the Property
Through court-directed bankruptcy proceedings, Interfaith has made the only
bid to purchase this site for $1.2 million. Historically, the number ofCarisbad
households served annually funded by Carlsbad CDBG funding has
constituted 7% of the total served from this site. We therefore,
conservatively, propose that 7% of our direct cost of this acquisition be from
the City CDBG dollars now available for capital pijrposes. This amounts to
$84,000, which we would use as part of a minimum 20% down-payment for
this acquisition, $240,000.
How Interfaith Plans to Meet the Matching Requirement
From other available agency funds, Interfaith will provide the remainder of
the 20% down payment. A fixed-rate mortgage will be used to finance the
remainder $960,0000 of purchase price. Interfaith has an exceptionally
excellent mortgage-to-debt ratio of the substantial properties we already own,
ensuring quaUfication for this acquisition mortgage.
Page 1 of2
Board of Directors
Christine M. Carrick
President
William T. "Bill" Baker
Laurie Ivie Burt
David L. Dollins
Michael Friedrichs .
Silas Harrihgton
Jill Henderson
Jeff Jones
Stan Kim
Georse L. Ligsins, PhD, MPH
Jesse R Longacre
Gar/Luoto
Ellen Marks
MikeMeziere
Paul M. Polito, CPA
Thomas Reilly 111
JInda Schatz
Tim Sharon
Stephen Smith
JeffVfetka
Jill Wrisht
DonZech
President's Circle
Margaret Bradley
MelCohn ,
Bernard J. Englarider
Douglas Hanson, CPA
Jonathan "Jack" Jacobs
Larry Kiasnow
Ray Malkiewicz
Manuel E. "Manny" Martinez
Elsa Singh
Lee y Turner, In Memoriarri
Barbara Warden
Ernest.Zomalt, Ph.D.
Executive Director
Richard Batt
/o
Timeline with Milestones to Closing of Escrow
The timeline for consummation of this acquisition is subject to the coiirt-supervised
receivership, which extends out somewhat a schedule for purchase. We are advised that a
close of escrow would occur sometime after January 1,2012, but certainly well before
April 1,2012.
Details About the Property - Location, Size Otfaier Pertinent Information
This property is addressed as 2195 Oceanside Blvd., Oceanside, CA 92054. The County
Tax Assessor's Parcel number is 149-370-08, and the legal description is Parcel 3 of
Parcel Map No. 5383, recorded Dec. 13,1976 (file #416153). This site is on the south
side of Oceanside Blvd., directly on an NCTD bus stop, and a short walking distance
from NCTD Sprinter services, facilitating client access. The total lot size is .71 acre.
The property consists of a single-story building and developed parking and landscaping.
The building area is approx. 9,603 sq. ft. This is a commercial/industrial construction
building, which Interfaith has occupied since 2004. We reconfigured this building for
our community services purposes at that time, with complete building permitting and
occupancy approval. We have operated our services from this site since the completion
of this reconfiguration. Additional detail about this property and our 2004
reconfiguration is available as needed.
Projections on How Many Carlsbad and non-Carlsbad Residents will Benefit
As noted, approx. 7% of all served at the Coastal Service Center annually have been
Carlsbad residents. For our "Safety Net" services alone, this means approx. 700
unduplicated individuals (women, children and men) from a total approx. 10,000 served
annually. With improved transportation resources being pursued through The Alliance
for Regional Solutions and improved coordination of services, this proportion would
likely increase.
We thank you for consideration of this funding request. We hope you agree, this is a
proportionally wise investment in the continuation of services to Carlsbad residents in
need. Please contact our office for further information and details related to this request.
Sincerely,
Craig B. Jones
Associate Director
Page 2 of2
//
Exhibit 5
CATHOLIC CHARITIES
Administration
Date: November 21, 2011
To: Gary Barberio,
Economic Development Director
City of Carlsbad
Frank Boensch,
Sr. Management Analyst
City of Carlsbad
From: Sister RayMonda DuVall
Executive Director
RE: REQUEST TO DEFER CITY FEES FOR NEW CONSTRUCTION OF LA POSADA
BACKGROUND:
Catholic Charities was awarded a $2 million grant from the City of Carlsbad through the Agricultural
Conversion Mitigation Fee for the construction of a new La Posada to house farm workers
and homeless men. Catholic Charities was awarded $361,583 CDBG funds to be used for city fees
and architectural fees.
At the October 25, 2011 City Council meeting to approve the CUP for the new La Posada , Catholic
Charities requested that a portion of the proposed City Fees be deferred. This request was based upon
the following unexpected issues: I.Two phased construction, 2.the new requirement for Hydro
Modification, 3. requirement for an expanded drive-way, 4. landscape requirements and 4. slope
maintenance endowment. As a result of these and other Issues the estimated construction costs have
gone beyond the $2 million grant. City Fees have far exceeded expectations.
REQUEST TO DEFER CITY FEES:
The $361,583 In CDBG funding granted Catholic Charities was intended to cover the costs of city fees
and all architectural fees. To date we have expended $42,132 on various City and Professional fees
and $116,968 for Architectural fees - leaving a CDBG fund balance of $202,483.
We estimate the remaining City fees to be $455,962 with an additional architectural fee of $70,000,
bringing the total to $525,962. Deducting the remaining CDBG funds the funding gap is $323,479.
Catholic Charities requested at the October 25, 2011 City Counsel meeting that city fees be deferred
until the Occupancy Certificate is issued in order for the agency apply for CDBG funding.
Construction estimates are well over $2.4 million. Leaving a $400,000 gap. The agency has secured
additional funding for all kitchen equipment and all furnishing for the dining room and dormitory for farm
workers. Catholic Charities has also secured one years operating expenses. Total funds raised to date
$800,000. The agency intends to raise the additional construction funds. With this commitment
Catholic Charities will bring approximately $1.2 million to the construction and operation of La Posada.
Catholic Charities intends to raise all funds for construction over the $2million grant and will seek
CDBG funding for the gap in city fees and architectural fees.
6 Catholic
Charities
Diocese of San Diego
349 Cedar Street, San Diego, Califomia 92101-3197 * Tel. (619) 231-2828 • Fax (619) 234-2272
Member Agency of United Way * Member Agency of Catholic Charities USA
y a.
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Media: 1
EO: N LS:
Com-Off/Rtl/Ind
MLS#: 110042983 Status: Active
Address: 2653 Roosevelt St
Listing Type: Exclusive Rigirt (R)
City: Carisbad, CA Zip: 92008
County: San Diego
Map Code: 1106E5
Type of Property: Office
Have: Owner user office buildin Location:
Motive/Want: sale
Directions to Property:
1-5, exit Carlsbad Village Dr. (West); Roosevelt (right).
LP: ^$795,000
OLP: $875,000
LD: 07/26/2011
MT 139 AMT:
COE Date:
SP:
138
[General Information
# of Units: 4
Price/SqFt/Month Price: $209.00/
Age:
Stories: 2
Lot Size: .25 Acres or I
Lot SqFt: 8,578
SqFt Improv: 3,804
APN: 203-101-21
Acres:
# Buildings: 1
Zoning:
Remarks:
Please drive by discreetly. Do contact ttie tenants or management. Vyfell located office building in downtown Carlsbad. Walk to the rail station, dining,
services, and beach. Improving redevelopment area of Carisbad. Unit A occupied by long term tenant (Doctor office). Units B, C, and D occupied by owner.
Ideal owner user buikling for the business operator that wants to be near the beach and downtown Carisbad services.
Confidential Remarks: Property flyer attached.
Mandatory Remari(s: , None Known
jAdditional Information
Cooling: Heat: Special:
Construction; Lot Size: Source of SqFt:
Floors: Parking: Stories:
Flood Zone: Roof: Type of Lease:
Geo Hazard: Sales Includes: Tenant Pays:
Railroad: Cars Per Day: Span:
Phase: Amps: Volts:
Truck Doors: Ceiling Height: Dock Height:
financing
Present Loan: 2SO000 Assumable Financing: 0 Source of Fin Info:
Down Payment: 88000 Gross Equity: $625,000
Existing Financing:
Terms:
[Office and Showing Instructions
List Agent: Ray Adams (610191) Agent Phone: (858)546-5456
List Office: CassMy Turley BRE Commercial Office Phone: (858)546-5400
Email: radamsObreb.com Fax: (858)777-5703
CBB%: 3.00% Subject to Court/Lender Approval: N
CBB$: Showing:
2nd Agent:
Broker #: 3140
Show Phone: Listing Agent
Additional Phone:
CVR: N
[Sold Information
Off Mari(et Date:
Sale Agent #:
Sale Office #:
Concessions:
Close of Escrow:
Sale Agent Name:
Sale Agent Office:
Expire Date:
SA Phone:
SO Phone:
Sold Price:
Financing:
Prepared by: Jim Klinge
DRELic.#:CA 00873197
Information is not guaranteed.
Copyright 2001 - 2011 SANDICOR, Inc.
Monday. December 12,2011
7:33 PM
http://tempo5 .sandicor.com/5.4.03.21271/Search/PrintPreviewDlg.asp 12/12/2011
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MLS#: 110042983 Address: 2653 Roosevelt St
UNIT INFORMATION
UNIT MNT RENT SIZE LSETERMS/EXP
UT1
UT2
UT3
UT4
UTS
UT6
UT7
UTS
UT9
UT10
Overage:
Common Area Maint:
Other Income:
Occupancy %:
Assess Value Imp %:
Total: Total:
Finanr.ial Analysis Yoar
Gross Sched Inc
Other Income
- Vacancy & Credit Loss
Gross Op Inc
- Operating Exp
Net Op Inc
- Total Annual P&l Pmt
Cash Flow Pre-Tax
Cap Rate (NOI/LP)
Cash on Cash/Pre-Tax
Gross Multiplier
ACTUAL
100
20291
100
0.00
PROJECTED
71280
20291
47425
OPERATING EXPENSES
Taxes 9363
Ins F&L 1712
Gas & Electric 407
Water & Sewer 663
Trash 437
Supplies
Maintenance 4000
Pest Control
Ucense
Gardner 2400
Manager
Property Mgt
Other 500
Total 20291
1st
2nd
Balance
LNBAL
250000
P&l INTR ASSUM BALLOON MM/YY DUE
Prepared by: Jim Klinge
DRE Lie* CA 00873197
Infomiation is not guaranteed.
Copyright 2001 - 2011 SANDICOR, Inc.
Monday, December 12, 2011
7:33 PM
http://tempo5.sandicor.eom/5.4.03.21271/Search/PrintPreviewDlg.asp 12/12/2011
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•2011‐2012 Action Plan submitted to U.S. Department of Housing and Urban Development (HUD) in May of 2011.•Program income of $1,847,906 from lease payment on Villa Loma Apartments received in May of 2011.
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Amendment required to allow for expenditure of program income.•Timely expenditure regulation requires use of funds prior to April 30thof each year.
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•North County Health Services request of up to $1.186 million to purchase new medical office space.•Match to be provided with funds for building improvements, furnishing and equipment.•Funds to be provided as deferred, no interest loan to be forgiven in 20 years with continued use as Medical Center.
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Interfaith Community Services request of $84,000 to purchase public service center. •Request represents 7 percent contribution reflecting the percentage of Carlsbad residents receiving services at the Center.
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Catholic Charities request for up to $300,000 to pay development fees for construction of larger homeless shelter on Impala Drive.•The larger shelter will provide beds for an additional 50 farm workers.
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•$2 million in Agricultural Conversion Mitigation Fee Funds awarded for construction.•$361,583 in CDBG funds awarded for predevelopment activities.•Up to $300,000 needed to cover development fees due to unexpected project cost increases
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Catholic Charities will raise funds to cover increases in construction costs with plans to bring in a total of approximately $1.2 million combined for construction and operating costs
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•$1,186,000 North County Health Services request.•$84,000 Interfaith Community Services request.•$300,000 Catholic Charities request.•$277,906 Acquisition of property for affordable housing.
Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan