HomeMy WebLinkAbout2001-12-04; City Council; Resolution 2001-345EXHIBIT 1
RESOLUTION NO. 2001-345
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WHEREAS, the Council finds that the guarantee provisions related to the Project
may be met through an interim financing program using an agreement between certain property
17 owners and the City whereby the property owner agrees to prepay his/her fair share of costs
ia associated with the Project; and
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR
TO EXECUTE A PREPAYMENT AGREEMENT BETWEEN
THE CITY OF CARLSBAD AND RANCH0 LA COSTA
VILLAGE. LLC FOR SDP 99-07
WHEREAS, the City of Carlsbad City Council has required that the funding of Ranch0
Santa Fe Road and Olivenhain Road (Project) must be guaranteed before any development
takes place in the area bounded by Local Facilities Management Zones 11 and 12, and portions
of Zone 6; and
WHEREAS, the Council has directed City staff to proceed with the formation of a
Community Facilities District (CFD No. 2) to finance the Project; and
WHEREAS, although the Council anticipates that CFD No. 2 will be formed in the
future, the Council is willing to consider alternative financing proposals during the period from
the present to the formation date of CFD No. 2; and
19 WHEREAS, Ranch La Costa Village, LLC intends to build a shopping center
20 including two specialty retail buildings and a drive through drug store in Local Facilities
21 Management Zone 11 known as Ranch0 La Costa Village, SDP 99-07; and
2211 WHEREAS, the City Engineer has determined that, due to the size of the Ranch0 La
23 Costa Village development, there will be no major impact on the circulation system at the
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present time if Ranch0 La Costa Village development is allowed to proceed; and
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WHEREAS, the Council finds that as Ranch0 La Costa Village, LLC may enter into
the attached Agreement to Pay Fair Share (Exhibit 1, attached hereto) in satisfaction of their
obligation under the Project financing conditions.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Carlsbad,
California, as follows:
1. That the above recitations are true and correct.
2. That the form of the Petition, Waiver And Consent To Creation Of A Community
Facilities District And Agreement To Pay Fair Share, Exhibit 1 attached hereto, is hereby
approved.
3. That the Mayor is hereby authorized to enter into the agreement shown as
Exhibit 1 with Ranch0 La Costa Village, LLC.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council on
the 4th day of DECEMBER , 2001, by the following vote, to wit:
AYES: Council Members Lewis, Fi_nnila, Nygaard, Hall
NOES: None
ABSENT: Council Member K
I"
CLAUDE A. LEWIS, Mayor
ATTEST:
LORRAINE WOOD, Citwlerk
KAREN R. KUNDTZ, Assistant City Clerk