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HomeMy WebLinkAboutCT 04-01; Tres-Dac Inc; 2006-0306022; Affordable Housing Agreement/Release22189 DOC# 2006-0306022 Recording Requested by: City of Carlsbad ;„„. ftWhen Recorded Mail to: City of Carlsbad City Clerk's Office Attn: City Clerk 1200 Carlsbad Village Drive Carlsbad. California 92008 MAY 01,2006 4:59 PM OFFICIAL RECORDS SAN DIEGO COUNTY RECORDER'S OFFICE G R E G 0 R Y J S MIT H CO U N TY R E CO R D E R FEES: 0.00 PAGES: 7 2006-0306022 (Space above for Recorder's Use) AFFORDABLE HOUSING AGREEMENT THIS AFFORDABLE HOUSING AGREEMENT ("Agreement") is entered into this _9th day of November 2005, by and between the CITY OF CARLSBAD, a municipal corporation (hereinafter referred to as the "City"), and Tres-Dac, Inc., managing partner for Blackrail, LLC, a Delaware limited liability company, (hereinafter referred to as the "Developer"), is made with reference to the following: RECITALS A. Developer is the owner of certain real property in the City of Carlsbad, County of San Diego, State of California, described in "Attachment A", which is attached hereto and incorporated herein by this reference, and which is the subject of a Tentative Map CT 04-01 which provides conditional approval of the construction of sixteen (16) single family residential parcels ("Project"). B. Chapter 21.85 of the Carlsbad Municipal Code requires that this Affordable Housing Agreement shall be entered into between the City and the Developer as a means of satisfying the Developer's affordable housing obligation ("Affordable Housing Obligation"), as such is defined under Chapter 21.85 of the Carlsbad Municipal Code. Planning Commission Resolution No. 5831 provides that the Affordable Housing Obligation of three (3) units will be satisfied by the purchase of affordable housing credits, as provided for in Chapter 21.85, Section 21.85.080. NOW, THEREFORE, incorporating the foregoing Recitals and in consideration of the mutual covenants contained herein, the parties agree as follows: 1. That the Recitals Are True And Correct. 2. THAT SATISFACTION OF DEVELOPER'S AFFORDABLE HOUSING REQUIREMENT WILL BE BY THE PURCHASE OF AFFORDABLE HOUSING CREDITS. June 11, 2002 22190 (a) Performance under this Agreement satisfies the Developer's obligation for affordable housing under Chapter 21.85 of the Carlsbad Municipal Code as applied to the land covered by Carlsbad Tract No. CT04-01 by reason of the approvals of the Tentative Map of CT 04-01, including Condition No. 18 listed in Planning Commission Resolution No.5831, and any other applicable approval. (b) The Developer shall purchase three (3) Affordable Housing Credits for an amount established by resolution of the City Council and as required by Condition No. 18 of Planning Commission Resolution No.5831. The fee shall be paid prior to the Developer receiving any building permits for the project. 3. REMEDIES Failure by the Developer to perform in accordance with this Agreement will constitute failure to satisfy the requirements of Chapter 21.85 of the Carlsbad Municipal Code and Condition No. 18 of Planning Commission Resolution No.5831. Such failure will allow the City to exercise any and all remedies available to it including but not limited to withholding the issuance of building permits for the lots shown on Carlsbad Tract No. CT 04-01. 4. HOLD HARMLESS Developer will indemnify and hold harmless (without limit as to amount) City and its elected officials, officers, employees and agents in their official capacity (hereinafter collectively referred to as "Indemnitees"), and any of them, from and against all loss, all risk of loss and all damage (including attorneys' fees and expenses) sustained or incurred because of or by reason of any and all claims, demands, suits, or actions, obtained, allegedly caused by, arising out of or pertaining in any manner to Developer's actions or defaults pursuant to this Agreement, and shall protect and defend Indemnitees, and any of them with respect thereto. 5. NOTICES All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registered or certified mail, return receipt requested to the party to receive such notice at the address set forth below: TO THE CITY: City of Carlsbad Housing and Redevelopment Department Attn: Housing & Redevelopment Director 2965 Roosevelt Street, Suite B Carlsbad, California 92008-2389 June 11,2002 22191 TO THE DEVELOPER: Blackrail, LLC 11828 Rancho Bernardo Road, Suite 205 San Diego, CA 92128 Any party may change the address to which notices are to be sent by notifying the other parties of the new address, in the manner set forth above. 6. ENTIRE AGREEMENT This Agreement constitutes the entire agreement between the parties and no modification hereof shall be binding unless reduced to writing and signed by the parties hereto. 7. DURATION OF AGREEMENT This Agreement shall terminate and become null and void upon the payment of the Affordable Housing Credits, or the repeal, termination, or modification of any applicable ordinance which act would render the Affordable Housing Obligation unnecessary or unenforceable. 8. SUCCESSORS This Agreement shall benefit and bind the Developer and any successive owners of Affordable Housing Lots. 9. SEVERABILITY In the event any provision contained in this Agreement is to be held invalid, void or unenforceable by any court of competent jurisdiction, the remaining provisions of this Agreement shall nevertheless, be and remain in full force and effect. June 11, 2002 22192 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. DEVELOPER CITY Tres-Dac,Inc.,managing partner for Blackrail, LLC, a Delaware limited City of Carlsbad, a Municipal corporation (0/7 ft liability corporation A A *A , By: y-6vV\^\T" By: NameKelly D. Burt Sandra L. Holderi iuj.ij.w rvcJ-XV Lf • JjU.1. L k^ IAAJXIJ. «. j_^. j. j.viviwi. Title Kx/frntt^i JTV<>fr-l)tt/g %N^. Community Development Director By: Name Title Proper notarial acknowledgment of execution by Developer must be attached. If a Corporation, Agreement must be signed by one corporate officer from each of the following two groups. *Group A. **Group B. Chairman, Secretary, President, or Assistant Secretary, Vice-President CFO or Assistant Treasurer 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:_ sistant City Attorney Jane Mobaldi June 11, 2002 22193 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of *~r$Jl On & personally appeared before me, l^jllf Name and Title of Officer (e.g., "Jane Doe, Notarvrtublic' Name(s) of Signer(s) JEANNE PLANTE RCOMM. #1467833 o NOTARY PUBLIC-CALIFORNIA g SAN DIEGO COUNTY 2My Commission Expires B FEBRUARY 3, 2008 j [^(personally known to me D proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Place Notary Seal Above WITNESS/my hand and pfficiataeal. Signature of Notary Public OPTIONAL Though the information below is not required by law, it maw prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date:. Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: D Individual D Corporate Officer — Title(s): D Partner — n Limited D General G Attorney in Fact H Trustee D Guardian or Conservator C Other: RIGHT THUMBPRINT OF SIGNER Top of thumb here Signer Is Representing:. Signer's Name: [H Individual D Corporate Officer — Title(s): D Partner — D Limited n General Q Attorney in Fact D Trustee D Guardian or Conservator D Other: Signer Is Representing: RIGHT THUMBPRINT OF SIGNER Top of thumb here © 2004 National Notary Association • 9350 Da Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 Item No. 5907 Reorder: Call Toll-Free 1-800-876-6827 22194 ATTACHMENT A LEGAL DESCRIPTION OF SUBJECT PROPERTY The land referred to in this report is situated in the State of California, County of San Diego and is described as follows: Parcel 1: (APN 215-040-05) The south half of the northwest quarter of the northwest quarter of the northeast quarter of Section 27, Township 12 South, Range 4 West, San Bernardino Base and Meridian, in the City of Carlsbad, County of San Diego, State of California, according to the official plat thereof. Parcel 2: An easement and right of way for road purposes over the westerly 20 feet of the north half of the northwest quarter of the northwest quarter of the northeast quarter of Section 27, Township 12 South, Range 4 west, San Bernardino Base and Meridian, in the City of Carlsbad, County of San Diego, State of California, according to the official plat thereof. June 11, 2002 1 22195 MEMORNADUM OF RESOLUTIONS OF THE SOLE DIRECTOR OF TRES-DAC, INC. The undersigned, the sole Director of TRES-DAC, INC., a California Corporation (the "Corporation"), hereby adopts the following resolutions without a meeting as authorized by Section 307 (b) of the California Corporation Code. WHEREAS, the Corporation is purchasing a sixteen lot subdivision development in Carlsbad, California, commonly known as "Blackrail", pursuant to Escrow No. 48052389 at Chicago Title C & Nl Escrow; RESOLVED: That Kelly D. Burt, as President and Secretary of the Corporation, is hereby authorized and directed as sole signer to sign all instruments and take all actions necessary for permitting, bonding, and development of the subdivision. The undersigned, the sole director of TRES-DAC, INC., hereby executes this Memorandum of Resolution on October 7, 2005. KELLY D.flBURT