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HomeMy WebLinkAboutCT 06-27; TAYLOR MORRISON OF CALIFORNIA LLC; 2011-0489969; Affordable Housing Agreement/Release2011 -0489969 SEP 21, 2011 1:40 PM Recording Requested by: SAN DIEBO^NTY HESnoBi* OFFICE City of Carlsbad pV Ernest J. Dionenburg, Jr., COUNTY RECORDER I " FEES: 0.00 When Recorded Mail to: ^P PAGES: 8 City of Carlsbad City Clerk's Office Attn: City Clerk 1200 Carlsbad Village Drive Carlsbad. California 92008 (Space above for Recorder's Use) AFFORDABLE HOUSING AGREEMENT (Purchase of Credits) THIS AFFORDABLE HOUSING AGREEMENT ("Agreement") is entered into this /.5 day o£Se>*V 20/1 , by and between the CITY OF CARLSBAD, a municipal corporation ("City") and_Tavlor Morrison of California, LLC. ("Developer"), a _California Limited Liability Company_, 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 "Exhibit A", which is attached hereto and incorporated herein by this reference, and which is the subject of a Tentative Map (CT 06-27), which provides conditional approval of the construction of 37 detached air-space condominiums single-family dwelling units ("Project"). B. Chapter 21.85 of the Carlsbad Municipal Code requires that this Agreement shall be entered into between the City and the Developer as a means of satisfying the Developer's affordable housing obligation, as such is defined under Chapter 21.85 of the Carlsbad Municipal Code. Planning Commission Resolution No. 6686 provides that the Affordable Housing Obligation of seven (7) units ("Affordable Housing Obligation") 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. The Recitals are true and correct. 2. THAT SATISFACTION OF DEVELOPER'S AFFORDABLE HOUSING REQUIREMENT WILL BE BY THE PURCHASE OF AFFORDABLE HOUSING CREDITS. (a) Performance under this Agreement satisfies the Developers' obligation for affordable housing under Chapter 21.85 of the Carlsbad Municipal Code as applied to the land Project by reason of the approvals of the Tentative Map of CT 06-27, including Condition No. 13 of Planning Commission Resolution No. 6686, and any other applicable approval. 1 CA 5/12/2011 (b) The Developer shall purchase seven (7) affordable housing credits in the Villa Loma and/or Cassia Heights Affordable Housing developments (within the Southwest/Southeast Quadrant of the City of Carlsbad), based on availability, for an amount established by resolution of the City Council and as required by Condition No. 13 of Planning Commission Resolution No. 6686 no later than two (2) years following City Council approval of this Agreement. The credit fee shall be paid prior to the Developer receiving any building permits for the project. The subject housing credits will be reserved for said Developer for no longer than (2) years following City Council approval of this Agreement. If the Developer does not purchase the subject credits within two (2) years of the date of this Agreement, the City shall make the credits available to one or more alternate developers and the Developer for this Agreement shall then be required to satisfy its Affordable Housing Obligation through alternate methods as approved by the City. 3. REMEDIES Failure of 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. 13 of Planning Commission Resolution No. 6686. 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 Project. 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. This provision shall survive the term of this Agreement. 5. NOTICES All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registed 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 & Neighborhood Services Department Attn: Housing & Neighborhood Services Director 2965 Roosevelt Street, Suite B Carlsbad, California 92008-2389 TO THE DEVELOPER: Taylor Morrison of CA, LLC Attn: April Tornillo 8105 Irvine Center Drive, Suite 1450 Irvine California 92618 CA 5/12/2011 7 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 hi 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. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. DEVELOPER Tc-^lor frlvrrix>n/]C*l'krnHLLC, ^-QTY OF CARLSBAD1 o ' ~ ~^ ___ ' Bv: i Debbie Fountain, Housing and Title: N > ffljPU Neighborhood Services Director Dated: (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 office(s) signing to bind the corporation.) (If signed by an individual partner, the partnership must attach a statement of partnership authorizing the partner to execute this instrument.) 3 CA 5/12/2011 (Proper notarial acknowledgment of execution by Contractor must be attached.) APPROVED AS TO FORM: Ronald R. Ball. City Attorney By:Dated: Jane. Mobaldi, Assistant City Attorney CA 5/12/2011 l( STATE OF CALIFORNIA COUNTY OF , Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to subscribed to the within instrument and acknowledged to me that /betheperson^whose r-*_x ./i -(F&/she/they executed the same in jjfj^liui/their authorized capacityCieg^, and that by {JEffior/tbeir signature^) on tne instrument the person^, or the entity upon behalf of which the person(s/acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal.L^L My Commission Expires: 4^/oOHO This area for official notarial seal Notary Name: Notary Registration Number:County of Principal Place of Business: LORI MICHEL I COMM #1858495 m Mdaty Public-California 52 ORANGECOUNTY •* My Coim. Exp JULY 2ft 20131 I CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California) County of I On C\)W( cK>|bt>[i before me, Notary Public, personally appeared ~^pCT\ who proved to me on the basis of satisfactory evidence to be the persons whose name(jC)$?/are subscribed to the within instrument and acknowledged to me that ^fete/they executed the same in(mjl)hef/ikeir authorized capacity(io^), and that by ^jfket/their signature(#f on the instrument the person(s), or the entity upon behalf of which the person(s>f acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS myihand and official seal. %?Signature /T)l / LORI MICHEL COMM #1858495 mNotary PuWto-CalifomiB S ORANGE COUNTY MjrComni. Exp. JULY 20.20131 (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 State of California County of. On ff//*before me, personally appeared A.£ff IJLJL/tl t Name and/title of (fie Officer Name(s) of Signer(s) SHERRY A. FREISINGER Commission # 1923596 Notary Public - California San Diego County My Comm. Expires Feb 25,2015 who proved to me on the basis of satisfactory evidence to be the person^ whose nameptf) is/a/6 subscribed to the within instrument and acknowledged to me that h^/she/thpy executed the same in hi^/her/th^ir authorized capacity(ie^), and that by hi^/her/thefr signature(^) on the instrument the person(s}, or the entity upon behalf of which the person(s^ acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my ha/ft and official sea> Place Notary Seal Above Signature: OPTIONAL / / j Signature of Notary Publip'^X l^^~^^^^^r \^^^~ Though the information below is not required by law, it may 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 Corporate Officer — Title(s): D Individual D Partner — D Limited D General D Attorney in Fact D Trustee D Guardian or Conservator D Other: RIGHT THUMBPRINT OF SIGNER Top of thumb here Signer Is Representing:. Signer's Name: D Corporate Officer — Title(s): D Individual D Partner — D Limited D General D Attorney in Fact D Trustee D Guardian or Conservator D Other: RIGHT THUMBPRINT OF SIGNER Top of thumb here Signer Is Representing: ©2010 National Notary Association • NationalNotary.org • 1-800-US NOTARY (1-800-876-6827)Item #5907 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY The East One-Half of the Northeast Quarter of the Northwest Quarter, 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 United States Government Survey. CA 5/12/2011