HomeMy WebLinkAbout2000-09-26; City Council; Resolution 2000-297F m
RESOLUTION NO. 2000-297
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, TO APPROVE A REQUEST TO AMEND
THE REGULATORY AGREEMENT AND DECLARATION OF
RESTRICTIVE COVENANTS FOR THE RANCH0 CARRILLO
AFFORDABLE APARTMENT PROJECT
APPLICANT: CARLSBAD FAMILY HOUSING PARTNERSHIP
CASE NO: SDP 97-15
WHEREAS, Carlsbad Family Housing Partnership has developed 116 apartment units affordable
to lower income households as a means to satisfy a portion of the affordable housing obligation for the
Ranch0 Carrillo Master Plan as permitted by Carlsbad Municipal Code Section 21.85 of the City’s
Inclusionary Housing Ordinance; and
WHEREAS, the City Council did, on the 17” day of February, 1998, hold a public meeting to
consider a request for City financial assistance for the construction of said 116 affordable housing
apartment units by the affordable housing owner, Carlsbad Family Housing Partners; and
WHEREAS, at said public meeting, the City Council did approve documents related to provision
of the City assistance, including but not limited to a Loan Agreement, Promissory Note, Deed of Trust,
and Regulatory Agreement and Declaration of Restrictive Covenants, in substantially the form presented
to the Housing Commission on February 12, 1998, and subject to the review and approval by the City
Attorney; and
WHEREAS, Carlsbad Family Housing Partnership and the City of Carlsbad mutually agree to
modify the Regulatory Agreement and Declaration of Restrictive Covenants to be consistent with the
previous City Council action and with the California Housing Finance Agency regulatory requirements
as they relate to the restrictions on income and rent levels at the Ranch0 Canillo Affordable Apartment
Project.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of Carlsbad,
California, as follows:
1. The above recitations are true and correct.
2. That based on the information provided within the City Council staff report and the
testimony presented during the public meeting of the City Council, the City Council
hereby APPROVES the request to amend the previously recorded Regulatory
Agreement and Declaration of Restrictive Covenants by and between the City of
Carlsbad and the Carlsbad Family Housing Partnership to be consistent with the previous
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City Council action and with the California Housing Finance Agency regulatory
requirements as they relate to the restrictions on income and rent levels at the
Ranch0 Carrillo Affordable Apartment Project.
3. That the City Council recommends that the City Manager or his or her designee be
authorized to execute the First Amendment to the Regulatory Agreement and
Declaration of Restrictive Covenants, in substantially the form presented to the City
Council on September 26, 2000, and subject to review and approval by the City
Attorney.
Conditions:
1. The First Amendment to the Regulatory Agreement and Declaration of Restrictive Covenants shall
be recorded with San Diego County Recorders Office prior to, or concurrent with the closing of the
permanent loan with California Housing Finance Agency for the Ranch0 Carrillo Affordable
Apartment Project.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the
City of Carlsbad, California, held on the 26” day of September, 2000, by the following vote, to wit:
AYES: Council Members Lewis, Hall, Finnila, Nygaard and Kulchin
NOES: None
ABSENT: None
CLAUDE A. Lw -MAYOR -
ATTEST:
M. WOOD, CITY CLERK
CC RESO NO. 2000-297
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