HomeMy WebLinkAboutCT 02-14; Bressi Ranch Residential; Tentative Map (CT) (17)July 25, 2001
Superintendent Cheryl Ernst
and Members of the Board of Education
Carlsbad Unified School District
801 Pine Avenue
Carlsbad, CA 92009
Re:Participation of Bressi Ranch in Community Facilities District No. 3 of the
Carlsbad Unified School District
Dear Superintendent Ernst and Members of the Board of Education:
This letter documents the agreements of the Carlsbad Unified School District ("District") and Bressi
Ranch Venture, LLC, a Delaware limited liability company ("Bressi") with respect to the annexation
of certain real property owned by Bressi and more particularly described on Exhibit "A" to this Letter
(the "Bressi Property") into the existing Community Facilities District No. 3 ("CFD No. 3") of the
Carlsbad Unified School District ("District"). This letter agreement constitutes a valid and binding
agreement between the parties.
The District previously formed CFD No. 3 in order to provide and alternative financing and
mitigation method for developers and property owners who intend or expect to develop property
located withing the boundaries of the District and are subject to the requirements of the City of
Carlsbad and/or have entered into School Facilities Mitigation Agreements with the District.
By annexing the Bressi Property into CFD No. 3, that property will not be required to make any cash
mitigation payments to the District, including cash requirements for Statutory School Fees levied
pursuant to Education Code 17620 and government Code 65995, or Alternative School Fees levied
pursuant to Government Code Sections 65995.5 and 65995.7.
This letter confirms the District's commitment to the statements made on behalf of the District in
the June 20, 2001 letter of District's legal counsel, Bowie, Arneson, Wiles & Giannone, to
landowners participating in Annexation into CFD No. 3.
RECEIVED
AUG - 9 2001
24800 Chrisanta Drive, Mission Viejo, CA 92691 - (949) 598-8500
lennor
I HIM Home*, since 1954
This agreement is for the benefit of Bressi and any successor or assign to the Bressi Property. This
Agreement shall terminate as to any Lot which is sold to an individual homebuyer upon the Close
of Escrow for the sale of such home(s).
Sincerely,
LENNAR BRESSI RANCH VENTURE,
LLC, a California limited liability company
By: Lennar Bressi Carlsbad, LLC, a California
limited liability company
Its: Managing Member
By: Lennar Homes of California, Inc.,
a California corporation
Its: Managing Memberj
By:_
Its: Vice President
The Carlsbad Unified School District, for itself and on behalf of its CFD No. 3, hereby agrees to the
foregoing terms and conditions for the annexation of the Bressi Property into Community Facilities
District No. 3 of the Carlsbad Unified School District.
CARLSBAD UNIFIED SCHOOL DISTRICT
By:_
Name: Chervl Ernst
Title: Superintendent
1648422.5