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HomeMy WebLinkAboutCT 2017-0002; Tyler Street Development LLC; 2018-0327246; Affordable Housing Agreement/Release~RECORDING REQUESTED BY: DOC# 2018-0327246 \ \\\\\I \\I\\ 11\1\ \\II\ \I\\ \\II\\ 11\11 \\\\I \\I\\ \11\1 \\I\\ 1\1\11\\\ \II\ Aug 09, 2018 02:47 PM OFFICIAL RECORDS Ernest J. Dronenburg, Jr , City of Carlsbad AND WHEN RECORDED MAIL TO: SAN DIEGO COUNTY RECORDER FEES $0.00 (SB2 Atkins $0 00) City Clerk City of Carlsbad 1200 Carlsbad Village Dr Carlsbad,Ca.92008 PAGES 8 (Please fill in document title(s) on 1 D 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 D 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 D 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 D 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 D Exempt from the fee per GC 27388.1 (a) (1); Not related to real property, or, 9 [{] Exempt from fee under GC27388.1 for the following reasons: GC27388.1 (2)(0): real estate document recorded by a municipality THIS PAGE ADDED TO PROVIDE SENATEBILl2EXEMPTIONINFORMATION (Additional recording fee applies) 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 AGREEMENTv2 (Purchase of Credits) THIS AFFORDABLE HOUSING AGREEMENT ("Agreement") is entered into this ___±L day of Jyvt..( , 20Jj'_, by and between the CITY OF CARLSBAD, a municipal corporation ("City") and Tyler Street Development, 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 2017-0002/PUD 2017- 0001 (DEV2017-0021)), which provides conditional approval of the construction of Tyler Street Residences with 8 air-space condominium residential 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. 7256 provides that the Affordable Housing Obligation of one (1) unit ("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 covered by Carlsbad Tract No. CT 2017-0002/PUD 2017-0001 (DEV2017-0021) by reason of the approvals of the Tentative Map of CT 2017-0002, including Condition No. 7 of Planning Commission Resolution No. 7256, and any other applicable approval. CA 2/5/2013 (b) The Developer shall purchase one (1) affordable housing credits in the Tavarua Affordable Housing development (within the Northwest 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. 7 of Planning Commission Resolution No. 7256 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. 7256. 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 2017-0002/PUD 2017-0001 (DEV2017- 0021). 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 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 Compliance Division 1200 Carlsbad Village Drive Carlsbad, California 92008 Tyler Street Development LLC Attn: Elizabeth LaGrua 4459 Hackett A venue Lakewood, CA 90713 917-279-0010 2 CA 2/5/2013 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. II II II II II II II II II II II II II II II INTENTIONALLY LEFT BLANK 3 CA 2/5/2013 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 T"' I le '2... STR.E:.ET pi:..vt;~f IVI A 1.-IMl LIA.f!.tUi'i CC\-"'1~,v'r By: --4..a.·'r-· a='l-=[;_,d{::_:__::_,_1--,1,..L...,-£=:...--1_,____ By: ~CARLSBAD "\__)~~+~ Debbie Fountain, Housing and Title: __,__yi....,,~~ ..... /fl"'"""'l,-i-,-~J i1-~-+-<r¥=kv_¼_e-~d-,____,,.\},(1}.e,£1f~1lflff Community & Ec9nomic Development Dir. Dated: 4~lL V-v Dated: b(2'2>JIS By: Name: ------------Title: 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.) (Proper notarial acknowledgment of execution by Contractor must be attached.) APPROVED AS TO FORM: By: -'--L=-=..£_--"'----=-------Dated: ~G~/4-~ _k{ ____ _ Ron Kemp, Assistant City 4 CA 2/5/2013 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY The Southwesterly 212.0 feet of Lot 9 oflndustrial Tract, in the City of Carlsbad, County of San Diego, State of California, according to Map thereof no. 1743, filed in the Office of the County Recorder of San Diego County, January 3, 1963. Excepting thereform the Northwesterly 69.0 feet being drawn parallel with and distant 69.0 feet at right angles from the Northwesterly line of said Lot 9. Also excepting therefrom the Southwesterly 106.0 feet thereof; and Lot 9 of Map 1743 excepting therefrom the Northwesterly 69.0 feet thereto the Southwesterly line of said Northwesterly 69.0 feet being drawn parallel with a distant 69.0 feet at right angles from the Northwesterly line of said Lot 9. Also excepting therefrom the Southwesterly 212 feet thereof. 5 CA 2/5/2013 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189 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 lo'::) ~('.r,.e\e,') on 'Sv!\Q,, '.1,t'6 1 'l,o\'.l, before me, ___ L_u_is_E_n_riq~u_e_R_a_m_o_s~, _N_o_ta_ry~P_u_b_li_c __ _ Date Here Insert Name and Title of the Officer personally appeared _ _J~~\:~\~~~~~\)~e,~\"~~\_.-~<1\~".)wN~?\~--===================-- Name of Signer who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALlY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS m~ hand an~ officia,~ Signature_---,_,...__-r---r---------- Place Notary Seal Above ---------------OPTIONAL ______________ _ Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: ~\&or~..'.'L \\)-1~,(\") ~~(NN.:: Document Date: _______ _ Number of Pages: ___ Signer(s) Other Than Named Above: ____________ _ Capacity Claimed by Signer Signer's Name: ___________ _ Signer's Name: ___________ _ D Corporate Officer -Title(s): ______ _ D Corporate Officer -Title(s): ______ _ [] Partner -[] Limited [J General [] Partner -[l Limited U General D Individual D Attorney in Fact D Individual D Attorney in Fact D Trustee D Guardian or Conservator D Trustee C Guardian or Conservator D Other: ______________ _ D Other: _____________ _ Signer Is Representing: ________ _ Signer Is Representing: ________ _ ,:{;;~~"G(;,~~~~"q(,~~~~'W;-~~~"G(;,"q(,~~"G(;,"G(;,~~~~~~~ ©2014 National Notary Association· www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 . '~ TYLER STREET DEVELOPMENT, LLC Resolution for Manager to Sign on Behalf of LLC As the Managing Member of the Tyler Street Development, LLC (the "Company"), I certify that the Company has been organized within the bounds of California state law as a limited liability company with its principal office located at Lakewood, California. I further attest that at the initial meeting of the Company's, held on March 20, 2015, a quorum was present, and voted and adopted the following resolutions: Resolved, that Elizabeth LaGrua, the appointed Manager of the Company, is hereby empowered to execute, deliver, and perform on behalf of and in the name of the Company, any and all agreements and documents deemed necessary or desirable by the Manager to carry out the business of the Company, including any lease, contract, deed, easement, bill of sale, mortgage, trust deed, security agreement, contract of sale, affordable housing agreement, or other document conveying, leasing, or granting a security interest in the interest of the Company in any of its assets, or any part thereof, whether held in the Company's name, the name of the Manager, or otherwise. I Further Attest that the person named below occupies the stated position, as indicated by her signature below, and that the resolution contained in this document is recorded on the books of the Company and this resolution is in full force and effect and have not been altered in any way. CERTIFIED AND ATTESTED TO on this 20th day of March 2015, by: Elizbeth LaGrua, Manager Tyler Street Development LLC