HomeMy WebLinkAbout2023-02-07; City Council; Resolution 2023-041RESOLUTION NO. 2023-041
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE PURCHASE AND RESALE OF 577 LAGUNA
DRIVE AS PART OF THE AFFORDBLE HOUSING RESALE PROGRAM,
AUTHORIZING THE DEPUTY CITY MANAGER, ADMINISTRATIVE SERVICES, TO
APPROPRIATE UP TO $225,000 FROM THE COMMUNITY DEVELOPMENT
BLOCK GRANT SPECIAL REVENUE FUND FOR RELATED COSTS, AND
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL REQUIRED
DOCUMENTS TO COMPLETE THE TRANSACTION
WHEREAS, the City Council of the City of Carlsbad, California has determined that it desires to
purchase and resell affordable housing units to eligible lower income buyers at an affordable price to
implement the city's affordable housing goals and policies; and
WHEREAS, on Dec. 8, 2020, the City Council approved City Council Policy Statement No. 73 -
City Option to Purchase Resale Affordable Housing and the Affordable Housing Resale Program
Guidelines by Resolution No. 2020-234; and
WHEREAS, the property owner of 577 Laguna Drive provided notice to the city of their intent to
sell or transfer ownership of the restricted affordable housing unit; and
WHEREAS, City Council Policy Statement No. 73 authorizes the City Manager or designee to
exercise the city's option to purchase existing affordable housing units, subject to City Council
appropriation of funds and acceptance of the grant deed; and
WHEREAS, the purchases are consistent with City Council Policy Statement No. 73, the
Affordable Housing Resale Program Guidelines, Community Development Block Grant funds are
available to fund the purchase, the acquisition is consistent with the FY 2020-2025 Consolidated Plan
priorities and is an approved activity in the FY 2022-23 CDBG Annual Action Plan; and
WHEREAS, the purchase of the unit enables the city to extend the affordability of the existing
unit by thirty (30) years and to resell it to an eligible lower-income buyer in accordance with the City of
Carlsbad Affordable Housing Resale Program; and
WHEREAS, the Community Development Block Grant Special Revenue Fund is required to be
expended in a timely manner and the city's purchase of the unit is a qualified expenditure of these
funds; and
WHEREAS, the revenue generated from the sale of the properties will be deposited into the
Community Development Block Grant fund as program income, with the sales proceeds being available
to create more affordable housing opportunities.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as
follows:
1.That the above recitations are true and correct.
2.That the City Council approves the purchase and resale of 577 Laguna Drive as part of
the Affordable Housing Resale Program.
3.That the Deputy City Manager, Administrative Services, is authorized to appropriate
$225,000 from the Community Development Block Grant Special Revenue Fund to cover
the purchase price, related escrow, and other processing fees to complete the
acquisition. Additionally, said funds are authorized for costs related to refurbishing and
preparing the unit for resale.
4.That the City Manager, or designee, is authorized to execute all required documents for
the purchase and make all future decisions and actions necessary to implement the
resale and disposition of said property, in compliance with City Council Policy Statement
No. 73 and the Affordable Housing Resale Program Guidelines, and to do so in full
compliance with the terms and conditions and to the satisfaction of the City Attorney.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 7th day of February, 2023, by the following vote, to wit:
AYES:
NAYS:
ABSTAIN:
ABSENT:
Blackburn, Bhat-Patel, Acosta, Burkholder.
None.
None.
None.
KEITH BLACKBURN, Mayor
fjMJ l � SHERRY FREISINGER, City Clerk6 (SEAL)