HomeMy WebLinkAbout1993-08-12; Housing Commission; Resolution 93-0031
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HOUSING COMMIS SION NO. 003
A RESOLUTION OF THE HOUSING COMMISSION OF THE
CITY OF CARLSBAD, CALIFORNIA RECOMMENDING
APPROVAL OF SUBMISSION OF APPLICATION FOR
SECTION 108 LOAN THROUGH THE FEDERAL
COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM
IN THE MAXIMUM AMOUNT OF $1.2 MILLION FOR THE
PURPOSE OF PURCHASING PROPERTY FOR THE
DEVELOPMENT OF AFFORDABLE HOUSING.
CASE NAME: LI'ITLE BRESSI
APN: 215-020-15 & 215-020-01
WHEREAS, the City of Carlsbad has identified a need to purchase property for
the purposes of the development of affordable housing; and
WHEREAS, property located generally on the west side of El Camho Real
between Palomar Airport Business Park and Sunfresh Rose Greenhouses, APN: 215-020-15 &
215-020-01, is available for purchase for the purpose of causing the development of affordable
housing; and
WHEREAS, the Housing Commission supports the purchase of property for the
purposes of providing affordable housing within the City of Carlsbad;
WHEREAS, the City of Carlsbad currently has allocated $880,372.30 in federal
Community Development Block Grant (CDBG) Entitlement funds for the purpose of purchasing
property for the development of affordable housing for low/moderate income persons; and
WHEREAS, the City of Carlsbad has the need to raise an additional $1.2 million
to purchase subject property through the federal Section 108 Loan program.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing
Commission as follows:
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A) That the foregoing recitations are true and correct.
B) That the Housing Commission recommends that the City Council of the City of
Carlsbad APPROVE submission of an application to the U.S. Department of
Housing and Urban Development for a Section 108 Loan in the maximum amount
of $1.2 million for the purposes of purchasing property for the development of
affordable housing for low/moderate income persons subject to the following
terms and conditions:
Terms a nd Co nditiow:
1.
2.
3.
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The purchase of property with Community Development Block Grant (CDBG) funds
shall be subject to all applicable HUD terms and conditions governing the federal
CDBG program, including but not limited to:
a.
b.
C.
d.
e.
contract with RUD for repayment of any loans for the purchase;
pledge of grants made or for which the City may become eligible for to repay
any loans for the purchase;
at discretion of HUD, provide other security which may be required for any
loans made to the City for the purchase;
repay any loans made to the City by HUD within a period not to exceed
twenty (20) years; and,
use the property for a purpose which provides direct benefit to low/moderate
income persons, such as affordable housing.
The value of the site in relation to the option purchase shall be supported with at
least one MA1 appraisal.
The City shall reimburse owner for all reasonable expenses he/she incurred for:
recording fees, transfer taxes, documentary stamps, evidence of title, boundary
survey and legal description of the real property; penalty costs and any other
prepayment charges; pro-rata portion of any prepaid real property taxes which are
allocable to the period after the City obtains title to the property. Whenever
feasible,these expenses shall be paid directly by the City so that the property owner
does not need to seek reimbursement.
HC RES0 NO. 003 2
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PASSED, APPROVED, AND ADOPTED at a regular meeting of the Housing
Commission of the City of Carlsbad, California, held on the 12th day of August, 1993 by the
following vote, to wit:
AYES: Edward ScarpeIli, Chairperson; Doug Avis; Jerry Rombotis;
Nancy Calverly; Bailey Noble; Cheri Sato; Kathleen Wellman;
Ofelia Escobedo; and Marvin Peterson, Commissioners
NOES: None
ABSENT:
ABSTAIN:
ATTEST:
&-
EVAN BECKER
HOUSING AND REDEVELOPMENT DIRECTOR
HC RES0 NO. 003 3