HomeMy WebLinkAbout2019-07-09; City Council; Resolution 2019-115RESOLUTION NO. 2019-115
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, AUTHORIZING THE CITY MANAGER TO EXECUTE ALL REQUIRED
DOCUMENTS TO COMPLETE ACQUISITION OF 2636 HANCOCK CIRCLE,
CARLSBAD, CALIFORNIA, AN AFFORDABLE HOUSING RESALE UNIT, AND
APPROPRIATING COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS IN THE
AMOUNT OF $275,000 AND AUTHORIZING THE DEPUTY CITY MANAGER
ADMINISTRATIVE SERVICES TO APPROPRIATE FUNDS TO COMPLETE
PURCHASE OF THE REAL PROPERTY.
WHEREAS, the City Council of the City of Carlsbad, California has determined that it desires to
exercise its option to purchase an affordable housing resale unit located at 2636 Hancock Circle,
Carlsbad, California as set forth in the Resale Restriction and Option to Purchase Agreement executed
between the city and property owner on July 15, 2014; and
WHEREAS, the property owner for 2636 Hancock Circle provided notice to the city on May 30,
2019 indicating the owner's intent to sell or transfer ownership of the restricted affordable housing
unit at the noted location; and
WHEREAS, the city responded to the property owner of the restricted affordable housing unit
on June 6, 2019 indicating its intent to exercise its option to purchase the property at 2636 Hancock
Circle; and
WHEREAS, the City Council approved a change in policy on March 13, 2018 (Resolution No.
2018-037) and amended its Community Development Block Grant (CDBG) Program Action Plan
authorizing city staff to respond with the city's intent to exercise its option to purchase resales of
affordable, restricted price homes as they become available on the market, and to utilize CDBG funds
to purchase these resale units; and
WHEREAS, the purchase approval by City Council allows for the city to recapture an affordable
home and extend its affordability for an indefinite period of time, if so desired, and to resell it to an
eligible buyer at a lower price, if necessary, to implement the city's affordable housing goals and
policies; and
WHEREAS, the purchase approval by City Council will also assist with implementation of the
city's Homeless Response Plan and the city's goals to create more affordable housing opportunities.
Ill
July 9, 2019 Item #3 Page 4 of 8
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 City Council hereby authorizes the City Manager to execute all acquisition
documents, including the Acceptance of the Grant Deed, for the purchase of the
affordable housing unit located at 2636 Hancock Circle, Carlsbad, California at the
restricted purchase price of $257,600.
3. That the City Council hereby authorizes the city's Deputy City Manager Administrative
Services to appropriate and expend Community Development Block Grant funds in an
amount not to exceed $275,000 for purchase of the affordable, restricted home and
related acquisition costs for the property located at 2636 Hancock Circle, Carlsbad,
California.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 9th day of July, 2019, by the following vote, to wit:
AYES: Hall, Blackburn, Bhat-Patel, Schumacher, Hamilton
NAYS: None.
ABSENT: None.
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~ARBARA ENGLESON, City Clerk
(SEAL)
July 9, 2019 Item #3 Page 5 of 8