HomeMy WebLinkAbout2003-07-23; Housing Commission; Resolution 2003-0031
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HOUSING COMMISSION RESOLUTION NO. 2003-003
THAT THE HOUSING COMMISSION RECOMMEND APPROVAL TO THE
DEVELOPMENT LOAN TO WAKXLAND HOUSING AND DEVELOPMENT
AGREEMENT AND RELATED DOCUMENTS, AND THAT $244,161 FROM
THE COMMUNITY DEVELOPMENT BLOCK GRANT HOUSING
COSTS FOR THE DEVELOPMENT OF AN AFFORDABLE HOUSING
PROJECT AT 2578 ROOSEVELT STREET
HOUSING AND REDEVELOPMENT COMMISSION OF A $200,000 PRE-
CORPORATION, APPROVAL OF THE PRE-DEVELOPMENT LOAN
RESERVE FUND BE REALLOCATED TO PAY PRE-DEVELOPMENT
WHEREAS, on March 1 1 , 2003, the Carlsbad Redevelopment Agency acquired property
located at 2578 Roosevelt Street for the purposes of developing an affordable housing project;
and
WHEREAS, after acquiring the subject property, the Redevelopment Agency issued a
Request for Qualifications for the purpose of selecting a non-profit affordable housing develope1
to develop, own and operate an affordable housing development on the subject site; and
WHEREAS, the Redevelopment Agency seeks to enter into a Pre-Development Loan
Agreement with Wakeland Housing and Development Corporation to fund the pre-development
activities to allow the project to receive necessary entitlement permits; and
WHEREAS, the Housing Commission did, on the 23rd day of July, 2003, hold a public
meeting to consider the Redevelopment Agency Pre-Development Loan Agreement to provide
funding for the pre-development costs related to the development of an affordable housing
project at 2578 Roosevelt Street; and
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HC RESOLUTION NO. 2003-003
PAGE 2
WHEREAS, upon hearing and considering all testimony, if any, of all persons desiring
to be heard, said Commission considered all factors relating to the proposed Pre-Development
Loan Agreement.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing Commission of
the City of Carlsbad, California, as follows:
1.
2.
3.
4.
Ill
Ill
Ill
The above recitations are true and correct.
The Pre-Development Loan Agreement is consistent with the goals and objectives
of the City of Carlsbad’s Housing Element, Consolidated Plan, the Inclusionary
Housing Ordinance, the Carlsbad General Plan and the Village Master Plan.
The Pre-Development Loan Agreement will assist the development of
approximately ten to twelve (10-12) affordable housing units which will be
affordable to lower income households. The project, therefore, has the ability to
effectively serve the AgencyICity’s housing needs and priorities as expressed in
the Housing Element, the Consolidated Plan and the Village Master Plan.
That based on the information provided within the Housing Commission Staff
Report and testimony presented during the public meeting of the Housing
Commission on July 23, 2003, the Housing Commission hereby ADOPTS
Resolution No. 2003-003, recommending APPROVAL to the Housing and
Redevelopment Commission to provide a $200,000 pre-development loan to
Wakeland Housing and Development Corporation, approval of the Pre-
Development Loan Agreement and related documents and that $244,161 from the
Community Development Block Grant Housing Reserve Fund be reallocated to
pay pre-development costs for the development of an affordable housing
development at 2578 Roosevelt Street
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5. That the Housing Commission recommends that the Redevelopment Agency
Executive Director or his or her designee be authorized by the Housing and
Redevelopment Commission to execute all documents related to provision of the
Agency assistance, including but not limited to a Pre-Development Loan
Agreement, Promissory Note and Assignment Agreement, in substantially the
form presented to the Housing Commission on July 23, 2003, and subject to
review and final approval by the City Attorney.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the Housing
Commission of the City of Carlsbad, California, held on the 23'd day of July, 2003, by the
following vote, to wit:
AYES:
NOES:
,',I ABSENT:
ABSTAIN:
LLI, CHAIRPERSON
COMMISSION
4 n
1 r K. -3
DEBORAH K. FOUNTAIN
HOUSING AND REDEVELOPMENT DIRECTOR
HC RESOLUTION NO. 2003-003
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