Loading...
HomeMy WebLinkAboutCT 16-09; 82 GRDAVE Owner LLC; 2018-0321505; Affordable Housing Agreement/ReleaseRECORDING REQUESTED BY: City of Carlsbad AND WHEN RECORDED MAIL TO: City Clerk City of Carlsbad 1200 Carlsbad Village Dr Carlsbad, Ca. 92008 DOC# 2018-0321505 1111111111111111111111111111111111111111111111111111111111111111111111 Aug 06, 2018 04:27 PM OFFICIAL RECORDS Ernest J. Dronenburg, Jr, SAN DIEGO COUNTY RECORDER FEES $35.00 (SB2 Atkins $0 00) PAGES 8 r J_JJ'ftUJYL-t i ·vurch:1oLof-CrJCJ115 1 0 Exempt from fee per GC27388.1 due to being recorded in connection with concurrent transfer that is subject to the imposition of documentary transfer tax, or, 2 0 Exempt from fee per GC27388.1 due to being recorded in connection with a transfer that was subject to documentary transfer tax which was paid on document recorded previously on ________ (date) as document number ____________ of Official Records, or, 3 D Exempt from fee per GC27388.1 due to the maximum fees being paid on documents in this transaction, or, 4 0 Exempt from fee per GC27388.1 due to the maximum fees having been paid on documents in the transaction(s) recorded previously on __________ (date) as document number(s) ________________________ of Official Records, or 5 0 Exempt from fee per GC27388.1; document transfers real property that is a residential dwelling to an owner-occupier, or, 6 D Exempt from fee per GC27388.1 due to being recorded in connection with concurrent transfer that is a residential dwelling to an owner-occupier, or, 7 D Exempt from fee per GC27388.1 due to it being recorded in connection with a transfer of real property that is a residential dwelling to an owner-occupier. The recorded document transferring the dwelling to the owner-occupier was recorded on __________ (date) as document number(s) __________________________________ , or, 8 0 Exempt from the fee per GC 27388.1 (a) (1); Not related to real property, or, 9 [l] Exempt from fee under GC27388.l for the following reasons: GC27388.1 (2)(0): real estate document recorded by a municipality THIS PAGE ADDED TO PROVIDE SENATEBlll2EXEMPTIONINFORMATION (Additional recordingfeeapplies) Recording Requested by: City of Carlsbad When Recorded Mail to: 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) /l I THIS AFFORDABLE HOUSING AGREEMENT ("Agreement") is entered into_ t_his ~day of s~~f, 20/& by and between the CITY OF CARLSBAD, a municipal corporation ("Citi')nd 82 GRDA VE OWNER, LLC, a Delaware limited liability company ("Developer"), 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 16-09/RP 16-16 -800 Grand Avenue), which provides conditional approval of the construction of 33 airspace condominium 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. 7232 provides that the Affordable Housing Obligation of six (6) 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 of the Carlsbad Municipal Code. NOW, THEREFORE, incorporating the foregoing Recitals and in consideration of the mutual covenants contained herein, the parties agree as follows: I. The Recitals are true and correct. 2. THAT SATISFACTION OF DEVELOPER'S AFFORDABLE HOUSING REQUIREMENT WILL BE BY THE PURCHASE QF 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 CA 2/5/2013 Carlsbad Tract No. CT 16-09/RP 16-16 -800 Grand Avenue by reason of the approvals of the Tentative Map of CT 16-09/RP 16-16-800 Grand Avenue, including Condition No. 7 of Planning Commission Resolution No. 7232, and any other applicable approval. (b) The Developer shall purchase six (6) affordable housing credits in the Tavarua Affordable Housing development, based on availability, for an amount established by resolution of the City Council and as required by Condition No. 7 of Planning Commission Resolution No. 7232 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 inclusionary obligation through alternate 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. 7 of Planning Commission Resolution No. 7232. 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 16-09/RP 16-16 -800 Grand Avenue. 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 "lndemnitees"), and any of them, from and against all loss, all risk of loss and all damage (including reasonable 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 default 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. s. 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: TO THE DEVELOPER: City of Carlsbad Housing & Neighborhood Services Department Attn: Housing & Neighborhood Services Director 1200 Carlsbad Village Drive Carlsbad, California 92008 82 GRDA VE OWNER, LLC 7121 Fairway Drive, Suite 410 Palm Beach Gardens, Florida 33418 Attn: General Counsel Facsimile No.: (561) 422-4672 2 CA 2/5/2013 WITH A COPY TO: McKellar McGowan Attn: Chris S. McKellar 888 Prospect St. #330 La Jolla, CA 92037 82 GRDA VE Holdings, LLC Attn: General Counsel 7121 Fairway Drive, Suite 410 Palm Beach Gardens, Florida 3 3418 Westbrook Properties Attn: Austin Richter 12424 Wilshire Blvd, Suite 840 Los Angeles, CA 90025 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 for 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, and in connection any such termination, Developer's obligations under this Agreement shall be deemed fully satisfied immediately upon such termination. s. SUCCESSORS This Agreement shall benefit and bind the Developer and any successive owners of the Project. 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. to. THIRD PARTY BENEFICIARIES The performance of City's and Developer's respective obligations under this Agreement is not intended to benefit any party other than City or Developer. To the extent legally permissible, no person or entity not a signatory to this Agreement shall have any rights or causes of action against any party to this Agreement as a result of that party's performance or nonperformance under this Agreement, or for the enforcement of any provisions of this Agreement. 3 CA 2/5/2013 11. TRANSFERS SUCCESSORS & ASSIGNS Developer shall have the right to sell, transfer or assign ( collectively, "Transfers") all or any portion of the Project or one or more Transfers of direct or indirect interests in Developer without prior notice to or consent of the City; provided that, upon any such Transfer this Agreement shall be binding upon the transferee, successor and/or assignee of the Project immediately following such Transfer and such transferee, successor and/or assignee shall be responsible for the obligations of Developer hereunder. Upon Developer's transfer, assignment or sale of the Project, the new owner of the project must enter into a novation agreement with the City. Developer shall be fully released, acquitted and discharged from any and all obligations, claims causes of action, damages, liabilities and costs and expenses arising from acts occurring after the Project has been sold and the novation agreement has been executed. II II II II II II II II II II II II II II // REMAINDER OF PAGE INTENTIONALLY LEFT BLANK II II II II II II II II II II II II II II II II II II II II II 4 CA 2/5/2013 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. Dated ~Lg / LC " CITY OF CARLSBAD By liJL ~ -f o-,J Debbie Fountain, Community & Economic Development Director Dated: ]/I ] It E2 (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(,1,) 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 acknowledgment of execution by Developer must be attached.) APPROVED AS TO FORM: Celia /\ nutar: puhlic or other orliccr completing Lhis ccrtiticak \ critics onl: the idcntil) of the indi\idual 11ho signed the documcnl lo 11hich this ccrtilicall' is attached. and not Lhc truthfulness. accuracy. or I alidit> of that document. Dated: -1'~~-+-'--/2d. __ 5 CA 2/5/2013 ~1:__.~ c,-\ 1 Ct lt l(_ d 0\_'CLll\ \..U'0{- CALIFORNIA CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of ;)'.:t n 1):)::£ J 0 On JI J \,\~ l O 1 2)D I k befor~ me, __._,___,,,.-"--'-'-...,____._____,-"'-+-----+-'~..LJL.-'..~--'----f-N......,'~o~tr~c_,~,v---,J,,---+--"-~~l l ___ personally appeared Ch vi Sh, p}'.\.vl[ j who proved to me on the basis of satisfactory evidence to be the person(,1' whose name(Jf is/q/e subscribed to the within instrument_ and acknowledged to me that he/s~/t!iey executed the same in his/l}e'r/t~ir authorized capacity(i~, and that _by his/h¢r/tl)eir signature(% on the instrument the persoy.s1, or the entity upon behalf of which the person?' 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. (Seal) Optional Information Although the information in this section is not required by law, it could prevent fraudulent removal and reattachment of this acknowledgment to an unauthorized document and may prove useful to persons relying on the attached document. Description of Attached Document The preceding Certificate of Acknowledgment is attached to a document titled/for the purpose of containing pages, and dated The signer(s) capacity or authority is/are as: · lndividual(s) ] Attorney-in-Fact · Corporate Officer(s) J Guardian/Conservator ; Partner -Limited/General ] Trustee(s) Other: representing: 1 ,tle(s) Name{s) of Per)on(s) or Ent1ty{1es) S1qner 1s Representing tft iheti • ffii 4 id U. i, I I Method of Signer ldentificatiOll__ Proved to me on the basis of satisfactory evidence: C.' form(s) of identification credible witness(es) Notarial event is detailed in notary journal on: Page # Entry# Notary contact: Other ] I Additional S,gner(s) r~ ] S1gner(s) Thumbprint(s) t) Copyright 200/-2016 Not<1ry Rotary, Inc PO Box 41400, Des Moines, IA 50311-0507 All Rights Reserved. Item Numbc>r 101772 f)lcase contact your Authorized Re<,eller to purchase copies of this forrn ' 'i EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Parcel 1, in the City of Carlsbad, County of San Diego, State of California, as shown on Page 3260 of Parcel Maps to Maps, filed in the Office of the County Records of San Diego County, November 27, 1974.