HomeMy WebLinkAbout1998-02-17; City Council; Resolution 98-47I
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CITY COUNCIL RESOLUTION NO. 98-47
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, TO APPROVE A REQUEST TO
PROVIDE UP TO A MAXIMUM OF $360,320 IN FINANCIAL
ASSISTANCE FROM THE HOUSING TRUST FUND TO
CARLSBAD FAMILY HOUSING PARTNERSHIP FOR
CONSTRUCTION OF ONE HUNDRED SIXTEEN (116)
AFFORDABLE APARTMENT UNITS WITHIN THE RANCHO
CAIZRILLO MASTER PLAN.
APPLICANT: CARLSBAD FAMILY HOUSING
CASE NO: SDP 97-15 ~ I
PARTNERSHIP
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WHEREAS, the master developer of the Rancho Carrillo Master Plan, Continental Homes ha
I1 proposed to construct 1 16 apartment units affordable to lower income households as a means to satisfy 2
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portion of their affordable housing obligation as permitted by Carlsbad Municipal Code Section 21.85 01
the City’s Inclusionary Housing Ordinance; and
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WHEREAS, said Housing Commission did, on the 12th day of February, 1998, hold a public
meeting to consider the request for City financial assistance for the construction of said 116 affordablc
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housing apartment units by the affordable housing developer, Carlsbad Family Housing Partners; and
WHEREAS, the City Council did hold a public meeting to consider said request for City financial
assistance for the construction of said 116 affordable housing apartment units by the affordable housing
developer, Carlsbad Family Housing Partners; and;
WHEREAS, at said public meeting, upon hearing and considering all testimony, if any, of all
persons designing to be heard, said Council considered all factors relating to the application and request
for financial assistance:
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of Carlsbad,
23 ll California, as follows:
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1. The above recitations are true and correct.
2. The request for City financial assistance is consistent with the goals and objectives of the
City of Carlsbad’s Housing Element and Comprehensive Housing Affordability Strategy,
the Inclusionary Housing Ordinance, and the Carlsbad General Plan.
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CC Resolution # 98-47
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3. The request for City financial assistance will assist the affordable housing developer t
construct a total of 1 16, one, two and three bedroom affordable apartment units. Th
project, therefore, has the ability to effectively serve the City’s housing needs an
priorities as expressed in the Housing Element and the Consolidated Plan.
4. That based on the information provided within the City Council and Housinl
Commission Staff Reports, the testimony presented during the public meeting of the Cit:
Council and Housing Commission and the Conditions of Approval contained herein, thl
City Council hereby APPROVES the request to provide $360,320 in financia
assistance from the Housing Trust Fund to Carlsbad Family Housing Partnership fo
construction of one hundred sixteen (1 16) affordable apartment units within the Ranch1
Carrillo Master Plan, contingent upon approval of a 9% tax credit allocation from th
State of California Tax Credit Allocation Committee.
5. That the City Council recommends that the City Manager or his designee be authorize(
to execute all documents related to provision of the City assistance, including but no
limited to a Loan Agreement, Note, Deed of Trust and Regulatory Agreement, iI
substantially the form presented to the Housing Commission on February 12, 1998 an(
subject to review and approval by the City Attorney.
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CC Resolution # 98-47
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1. Carlsbad Family Housing Partnership shall be required to apply for and obtain a 9% tax cred
allocation from the State of California Tax Credit Allocation Committee and also obtain a
other financing commitments necessary to fund the construction of the subject project prior t
any release of City of Carlsbad funds for the subject project. Prior City Council approval sha
be required for any alternate financing source for the subject project. The City of Carlsbad
financial assistance shall not exceed the amount indicated without prior approval of the Cil
Council.
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2. Carlsbad Family Housing Partnership shall be required to enter into appropriate agreemen
for the provision of the financial assistance from the City of Carlsbad. These agreements mu
be executed and recorded prior to any release of funds by the City of Carlsbad.
This resolution shall be automatically repealed if applicant receives an alternatij l2
NOES: None 16
AYES: Council Members Lewis, Finnila, Nygaard, Kulchin and Hal: 15
the City of Carlsbad, California, held on the 17th day of February, 1998 by the following vote, to wit: 14
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council ( 13
form of assistance, other than a 9% tax credit allocation, to finance the subject project.
17 ABSENT: None
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18 ABSTAIN: None
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CLAUDE A. LEWIS, Mayor
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23 I ATTEST:
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