HomeMy WebLinkAbout2020-10-13; City Council; Resolution 2020-200RESOLUTION NO. 2020-200
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, AUTHORIZING THE CITY MANAGER TO EXERCISE THE CITY'S
OPTION TO PURCHASE AN AFFORDABLE HOUSING UNIT AT 7008 FORSTERS
TERN DR AND EXECUTE ALL REQUIRED DOCUMENTS TO COMPLETE THE
PURCHASE, AND THE DEPUTY CITY MANAGER FOR ADMINISTRATIVE
SERVICES TO APPROPRIATE AND DISBURSE $270,000 FROM THE HOUSING
TRUST FUND TO PURCHASE THIS AFFORDABLE HOUSING UNIT.
WHEREAS, the property owner of 7008 Forsters Tern Dr provided notice to the city on Sept. 16,
2020, indicating the owner's intent to sell or transfer ownership of the restricted affordable housing
unit at the noted location; and
WHEREAS, City Council Policy Statement No. 73 requires that all notices of intent to sell an
affordable housing unit after 15 years of ownership must be presented to the City Council for
consideration and a decision as to whether or not to exercise the city's option to purchase; and
WHEREAS, since the owner's resale restriction agreement with the city has been in effect for
more than 15 years, City Council authorization to exercise or decline the option to purchase this unit is
required; and
WHEREAS, the purchase approval by the City Council allows for the city to recapture an at-risk
affordable housing unit, preserve and extend its affordability, 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, Housing Element Program 3.7 states that the "city will continue to maintain the
Housing Trust Fund for the fiduciary administration of monies dedicated to the development,
preservation and rehabilitation of affordable housing in Carlsbad", and as such, purchase of this
affordable housing unit is an appropriate use of the Housing Trust Fund; and
WHEREAS, there is sufficient funding available in the city's Housing Trust Fund to purchase this
unit.
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 of the City of Carlsbad, California has determined that it desires to
exercise its option to purchase an affordable housing unit located at 7008 Forsters Tern
Oct. 13, 2020 Item #1 Page 4 of 8
Dr, Carlsbad, California, and hereby authorizes the city manager to execute all required
documents, including the Acceptance of the Grant Deed, for the purchase of said
property, and to expend up to $270,000 from the Housing Trust Fund to cover the
purchase price, related escrow and other processing fees to complete the acquisition.
Additionally, said funds are authorized for costs related to refurbishing and preparing
the unit for resale.
3. That the Deputy City Manager for Administrative Services is authorized to appropriate
and disburse $270,000 from the Housing Trust Fund for the property purchase at 7008
Forsters Tern Dr.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 13th day of October, 2020, by the following vote, to wit:
AYES: Hall, Blackburn, Bhat-Patel, Schumacher.
NAYS: None.
ABSENT: None.
MATT HALL, Mayor
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BARBARA ENGLESON, City CI rk
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Oct. 13, 2020 Item #1 Page 5 of 8