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Home My WebLink AboutCT 08-03; Property Development Centers LLC; 2012-0596049; Affordable Housing Agreement/ReleaseRecording Requested bv: City of Carlsbad When Recorded Mail to: City of Carlsbad City Clerk's Office Attn: City Clerk 1200 Carlsbad Village Drive Carlsbad. Califomia 92008 DOC« 2012-059G049 llllllllllllllllllllllllllllllllllllllllllllllllllllllllll OCT 01, 2012 1:46 PM OFFICIAL RECORDS SAN DIEGO COUNTY RECORDER'S OFFICE Ernest J. Dronenburg, Jr., COUNTY RECORDER FEES: 0.00 PAGES: 6 (Space above for Recorder's Use) AFFORDABLE HOUSING AGREEMENT (Purchase of Credits) THIS AFFORDABLE HOUSING AGREEMENT ("Agreement") is entered into this 36^ day ofjj^j£t, 2012., by and between the CITY OF CARLSBAD, a municipal corporation ("City") and StoPERTY DEVELOPMENT CENTERS, LLC ("Developer"), a Delaware 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 Califomia, described in "Exhibit A", (the "Property"), which is attached hereto and incorporated herein by this reference, and which is the subject of a Tentative Map (CT OS- OS), which provides conditional approval for the development of up to sixty-four (64) dwelling units ("Project"). Upon sale of the Property, any future owner who seeks to develop the Project shall be considered the "Developer" for the purposes of this agreement. 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. 6582 provides that the Affordable Housing Obligation of ten (10) 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 tme 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 covered by Carlsbad Tract No. 08-03 by reason of the approvals of the Tentative Map of CT 08- CA 6/15/2011 03, including Condition No. 13 of Planning Commission Resolution No. 6582, and any other applicable approval. (b) The Developer shall purchase ten (10) 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. 6582 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 altemate developers and the Developer for this Agreement shall then be required to satisfy its inclusionary obligation through altemate methods as approved by the City. 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. 13 of Planning Commission Resolution No. 6582. 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. 08-03. 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 attomeys' 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. 6. 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, retum 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, Califomia 92008-2389 TO THE DEVELOPER: Property Development Centers, LLC Attn: Jim Reuter 5918 Stoneridge Mall Road Pleasanton, CA 94588 2 CA 6/15/2011 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 obligations of this agreement shall mn with the land and this agreement shall benefit and bind the Developer and any successive owners of the Property who seek to develop the Project. // // // // // // // // // // // // // // // // 3 CA 6/15/2011 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. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. DEVELOPER Property Development Centers LLC, a Delaware limited liability company By: Safeway Inc., a Delaware corporation, its sole member By: Assistant^ice President By: C^Wi^ ..^ .>A2^Q Assistant Secretary .OF CA BAD By: Debbie Fountain, Housing and Neighborhood Services Director Dated: a/30/ (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.) (Proper notarial acknowledgement of execution by Developer must be attached,) APPROVED AS TO FORM: Ronald r. Ball, Cky Attomey By:_ Jai/e/Mobaldi, Assistant City Attomey Dated: f- . "TV CA 6/15/2011 ACKNOWLEDGMENT STATE OF CALIFORNIA ) COUNTY OF ALAMEDA ) ss. ) On August 21, 2012, before me, Janice M. Palmer, Notary Public, personally appeared Marilyn K. Beardsley and Wendall Mitchell who proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument, the persons, or the entity upon behalf of which the persons 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, ig nature JANICE M. PALMER Commission #1811718 Notary Public - California | ^>^^^^y Alameda County ^ Mv Comm. Expires Sep 16,2012 K (Seal) EXfflBIT A LEGAL DESCRIPTION OF PROPERTY Real property in the City of Carlsbad, County of San Diego, State of Califomia more particularly described as follows: Parcel 4 of City of Carlsbad Minor Subdivision No. 04-08 recorded by the County Recorder of the County of San Diego on July 11,2012 as Parcel Map No. 20982. CA 6/15/2011