Loading...
HomeMy WebLinkAboutMP10-01; McMillin QC2, LLC; 2015-0233607; Affordable Housing Agreement/ReleaseDOC# 2015-0233607 RECORDING REQUESTED BY: City of Carlsbad WHEN RECORDED MAIL TO: City of Carlsbad City Clerk's Office Attn.: City Clerk 1200 Carlsbad Village Drive Carlsbad, Califomia 92008 May 11, 2015 09:13 AM OFFICIAL RECORDS Ernest J. Dronenburg Jr SAN DIEGO COUNTY RECORDER FEES: $0.00 PCOR: N/A (Space above for Recorder's Use) AFFORDABLE HOUSING AGREEMENT IMPOSING RESTRICTIONS ON REAL PROPERTY (Master Plan Only) This Affordable Housing Agreement Imposing Restrictions on Real Property ("Agreement"), entered into this 5£hday of iW/vibrr?, 2014, by and between the CITY OF CARLSBAD, a chartered municipal corporation ("City"), and McMILLIN QC2, LLC, a Delaware limited liability company ("Developer"), is made with reference to the following: A. Developer is the owner of or has the right to acquire certain real property in the City of Carlsbad, County of San Diego, Califomia (the "Subject Property") described in "Attachment A" (Legal Description), which is attached hereto and incorporated herein by reference. B. The City Council has approved the Quarry Creek Master Plan (MP 10-01, as amended, the "Master Plan") and associated entitlements for the Master Development subject to certain Conditions of Approval. The Master Plan allows for the development of a maximum of 636 residential units ("Master Development") on the Subject Property. The Master Plan approval was conditioned to restrict fifteen percent (15%) of the total number of for-sale (ownership) housing units constructed in the Master Development to be affordable housing pursuant to the City's Inclusionary Housing Ordinance (Carlsbad Municipal Code ("CMC") Chapter 21.85), and five percent (5%) of the total number of rental housing units to be affordable to low income households, with a minimum number of low income restricted affordable dwelling units within the Master Plan area to be no less than ten percent (10%) of the total number of approved dwelling units (for-sale and/or rental). The Master Development may consist of single family and multi-family development areas. D. Developer has not yet determined how it will meet its inclusionary housing requirement as set forth in this Agreement and the Master Plan conditions of approval. An amendment to this Agreement shall be required to detail the manner in which the inclusionary requirements will be satisfied when the required Site Development Plan for affordable housing development within the Master Development is approved by the City Planning Commission. E. Developer is required by the Conditions of Approval for the Master Plan and related approvals to enter into an Affordable Housing Agreement with the content specified by CMC Chapter 21.85. This Agreement satisfies that requirement pursuant to CMC Section 21.85.140, and shall be signed and recorded prior to the approval of the first Final Map for the Subject Property. This Agreement shall permit the approval of a Final Map for up to six hundred thirty-six (636) housing units for the Subject Property, which shall include a minimum of no less than ten percent (10%) of the total number of housing AHA QUARRY CREEK 29SEP14 units approved (for-sale and/or rental) as restricted affordable housing units. Unless this Agreement is amended and approved by both parties, the maximum number of housing units affordable to low income households required to be developed within the Master Plan area under this Agreement shall be ninety-five (95) total. (The ninety-five (95) unit total requirement assumes that all of the market rate units would be for-sale product; the requirement would be smaller than ninety-five (95) if some of the units constructed within the Master Development are rental housing units, as more particularly described in this Agreement.) The affordable units may be provided as a rental or for-sale housing product or any combination thereof If the Master Plan is amended to allow the maximum number of total (market rate and affordable) housing units to be constructed within the Master Development to exceed six hundred and thirty-six (636) units, this Agreement shall be amended. NOW, THEREFORE, it is mutually agreed by and between the undersigned parties as follows: 1. Satisfaction of Affordable Housing Obligation and Conditions of Approval. In order to satisfy the Conditions of Approval of the Master Plan (MP 10-01) and the requirements of CMC Chapter 21.85, Developer shall obtain approval of a Site Development Plan which includes dwelling units to be rented or sold at an affordable rental rate or sales price to low income households (the "Affordable Units") in a total amount equal to fifteen percent (15%) of the total for-sale dwelling units and five percent (5%) of the total rental dwelling units constmcted within the Master Plan, but not less than a minimum of ten percent (10%) of the total number of housing units (for-sale and/or rental) within the Master Plan as approved by the City Council, according to the schedule and terms contained herein. The affordable housing obligation shall not apply to nonresidential development within the Master Plan area. This Agreement shall be amended upon approval of the Site Development Plan to incorporate the details ofthe affordable unit development into this Agreement. 2. Terms Goveming Provision of Affordable Units. Provision of the Affordable Units shall be governed by the following terms: 2.1 Location of Affordable Units. Pursuant to the Master Plan, the Affordable Units shall be located in Planning Area R-l and/or Planning Area R-2, or within another residential planning area(s) approved by the City. A Site Plan, showing the general location of an affordable project in Planning Area R-l is attached as Attachment D to this Agreement. A Site Development Plan that complies with CMC Chapter 21.85.140(A) must be approved by the City Planning Commission to identify the location of the Affordable Units within the Master Development and details of the affordable development, and this Agreement must be amended to identify the location of the Affordable Units and details ofthe affordable housing development as set forth in the approved Site Development Plan prior to the release of any building permits for construction of dwelling units within the Master Development. 2.2 Size and Bedroom Count. The Affordable Units shall include a mix of one, two, and three bedroom units in the numbers and with the square footages to be indicated in the approved Site Development Plan; a minimum of ten percent (10%) of the required affordable housing units shall have three (3) bedrooms. 2.3 Parking. A reduced parking requirement may be allowed for the Planning Area R-l affordable housing project if approved by the City pursuant to Special Design Criteria 1. of the Master Plan and the Site Development Plan. 2.4 Affordability Requirements for rental product. If the Affordable Units will be provided in a rental product ("Affordable Rental Units") within the Master Development, the units shall be rent restricted to occupancy by households with incomes that do not exceed eighty (80%) of the median income for San Diego County, adjusted for actual household size. Monthly rents (including utility AHA QUARRY CREEK 29SEP14 9 allowance as published by the United States Department of Housing and Urban Development) of the Affordable Rental Units shall not exceed l/12th of 30% of 70%> of the median income for San Diego County, adjusted for assumed household size appropriate for the unit. Median income figures shall be those published annually by the United States Department of Housing and Urban Development. Assumed household size figures shall be provided to Developer by the City of Carlsbad Housing and Neighborhood Services Department. With respect to each Affordable Rental Unit, the affordability requirements of this Section 2.4 shall continue for fifty-five (55) years from the date of issuance of a Certificate of Occupancy by the City for such unit. The Regulatory Agreement between the Developer or its successor and the City, provided for in Section 2.8.4 below, shall set forth affordability requirements of this Section 2.4 and shall supersede this Agreement with respect to the Affordable Rental Units upon recordation of the Regulatory Agreement. 2.5 Affordability Requirements for for-sale. ownership product. If the affordable units will be provided in a for-sale, ownership product ("Affordable For-Sale Units") within the Master Development, the Affordable For-Sale Units shall be price restricted to occupancy by households with incomes, at the time of initial occupancy, that do not exceed eighty (80%) of the median income for San Diego County, adjusted for actual household size. Monthly housing costs (including mortgage payment, interest, taxes, homeowner association fees, mortgage insurance, utility allowance as published by the United States Department of Housing and Urban Development, and other similar costs) of the Affordable For-Sale Units shall not exceed 1/12th of 35% of 80%i of the median income for San Diego County, adjusted for assumed household size appropriate for the unit. Median income figures shall be those published annually by the United States Department of Housing and Urban Development. Assumed household size figures shall be provided to Developer by the City of Carlsbad Housing and Neighborhood Services Department. With respect to each Affordable For-Sale Unit, the affordability requirements of this Section 2.5 shall continue for thirty (30) years from the date of issuance of a Certificate of Occupancy by the City for such unit. The Resale and Restriction Agreement and related loan documents between the homebuyer or its successor and the City, provided for in Section 2.8.4 below, shall set forth the affordability requirements of this Section 2.5 and shall supersede this Agreement with respect to the Affordable For-Sale Units upon recordation of the Resale and Restriction Agreement. 2.6 Schedule for Developing Affordable Units. Developer shall provide the Affordable Units concurrently with the related market rate home construction. The market rate units may be developed pursuant to the following schedule and as graphically depicted on Attachment B to this Agreement: 2.6.1 Prior to the approval of any Final Map for the Master Development, this Agreement shall be duly signed and recorded against the Subject Property. 2.6.2 Upon completion and approval of a Site Development Plan for the required Affordable Units identifying the location and product and related development details for said Affordable Units within the Master Development, this Agreement shall be amended concurrently to incorporate the details of the Affordable Unit development into this Agreement, duly signed and recorded against all residential planning areas within said Master Development. 2.6.3 Upon satisfying the applicable condition stated in Section 2.6.1 above. Final Maps for individual planning areas up to a maximum of 636 total housing units anywhere within the Master Development units may be recorded. No building permits may be released within the Master Development until such time as a Site Development Plan has been approved for the Affordable Units and this Agreement has been subsequently amended as set forth in Section 2.6.2 above. 2.6.4 Upon approval of the Site Development Plan for the Affordable Units AHA QUARRY CREEK 29SEPI4 o and amendment of this Agreement, execution, and recordation against the residential planning areas within the Master Development, building permits may be released for all of the required Affordable Units and an additional approximately thirty-three percent (33%) of the market rate housing units (i.e., 636 minus the number of Affordable Units) shall be released at Developer's request anywhere in the Subject Property. The final number of market rate building permits to be released for market rate units will depend upon the number of affordable units provided within the approved Site Development Plan and set forth in the amended Agreement. 2.6.5 Once building permits have been released and the foundations for the Affordable Units are complete, inspected and approved by City, an additional thirty-three percent (33%) of the total building permits for market rate housing units shall be released at Developer's request anywhere in the Subject Property. The final number of market rate building permits to be released for market rate units will depend upon the number of affordable units provided within the approved Site Development Plan and set forth in the amended Agreement. 2.6.6 Once the fmal Certificate of Occupancy is issued for the last of the Affordable Units to be constructed, building permits for the remaining market rate housing units shall be released at Developer's request anywhere in the Subject Property. 2.6.7 If the Developer provides within the Master Development a greater number of affordable units than the minimum specified in Section 1 above. Developer shall have the right, subject to City Council approval, to use the number of units which exceed the minimum (the "Excess Affordable Units"), to satisfy other affordable housing obligations for other developments within the Northeast Quadrant of the City. Developer shall have the right to transfer the rights to the Excess Affordable Units, in whole or in part, to another developer of a housing development within the Northeast Quadrant of the City, subject to City Council approval of the offsite satisfaction of the affordable housing obligation for the altemate residential development 2.7 Developer Right to Designate Market Rate Units. Developer shall have the exclusive right to determine which market rate units within the Subject Property are eligible for release of building permits in accordance with the foregoing phasing schedule, notwithstanding subsequent sale of portions ofthe Subject Property. Developer shall designate which market rate units are eligible by giving City written notification thereof from time to time as the various phasing thresholds are achieved. 2.8 Citv Approval of Documents. The following documents, in form and substance as prepared by the City, shall be used in connection with the rental of the Affordable Units. Such documents shall be prepared by the Developer and submitted to the Housing and Neighborhood Services Director for the City for review and approval, with the exception of the regulatory agreement noted in Section 2.8.4 which shall be prepared by the Housing and Neighborhood Services Director for the City and submitted to the developer of the Affordable Units for execution and recordation against the property for the Affordable Units: 2.8.1 A marketing plan establishing the process for seeking, selecting and determining the eligibility of the Quarry Creek Affordable Units. 2.8.2 A form of Rental Agreement. 2.8.3 A property management plan. 2.8.4 A form of regulatory agreement between the Developer or its successor and the City ("Regulatory Agreement"). AHA QUARRY CREEK 29SEF14 3. Compliance Report. Following completion of constmction of the Quarry Creek Affordable Units, a Compliance Report meeting the requirements of CMC Section 21.85.140, verifying compliance of the completed Affordable Units with the terms of this Agreement and certified as correct by a third-party, shall be submitted annually to the Housing and Neighborhood Services Director. If similar reports on the Affordable Units are required for regulatory compliance with other financing programs, those reports may be deemed satisfactory for the purpose of this section by the Housing and Neighborhood Services Director, with respect to the Affordable Units covered by such reports, provided that copies of those reports are provided on an annual basis to the Housing and Neighborhood Services Director with a third party certification addressed to the City. 4. Release of Subiect Property From Agreement. The covenants and conditions herein contained shall apply to and bind the heirs, executors, administrators, successors, transferees, and assignees of all the parties having or acquiring any right, title or interest in or to any part of Subject Property to be developed for residential purposes and shall mn with and burden the Subject Property until expiration in accordance with Section 12 hereof This Agreement shall not burden or encumber non-residential portions of the Subject Property and shall not preclude development or issuance of non-residential permits in any manner. Until residential portions of the Subject Property are released from the burdens of this Agreement pursuant to this Section 4, the Developer shall expressly make the conditions and covenants contained in this Agreement a part of any deed or other instrument conveying any interest in the Subject Property. Notwithstanding anything to the contrary set forth in this Agreement, individual purchasers of single-family residential units pursuant to an approved public report in compliance with the Califomia Subdivided Lands Act, and mortgage lenders holding deeds of trust on such individual units after sale to such purchasers, shall not be subject to the terms of this Agreement; and the terms of this Agreement shall be of no further force or effect and automatically released without further action with respect to such completed unit on the date of the recordation of a deed to the individual purchaser. As market rate units are eligible for release, this Agreement shall be fully released for those eligible market rate residential units as designated in writing by Developer, which units may be located anywhere in the Master Development at the sole discretion of Developer. The Agreement shall be fully released as to the entire Subject Property upon issuance of certificates of occupancy for all Affordable Units. 5. Default. Failure ofthe Developer to cure any default in the Developer obligations under the terms of this Agreement within ninety (90) days after the delivery of a notice of defauh from the City (or where the default is of the nature which cannot be cured within such ninety (90) day period, the failure of the Developer to commence to cure such default within the ninety (90) day period or the Developer' failure to proceed diligently to complete the cure of such a default within a reasonable time period, but in no event greater than 180 days, will constitute a failure to satisfy the Conditions of Approval with respect to the Subject Property and the requirements of Chapter 21.85 of the CMC and the City may exercise any and all remedies available to it with respect to the Developer' failure to satisfy the Conditions of Approval and Chapter 21.85 of the CMC, including but not limited to, the withholding of building permits for the market rate units within the Master Development. 6. Force Majeure. Performance by any party of its obligation and the phasing restrictions for release of building permits for market rate units under this Agreement shall be excused during any period of delay caused at any time by reason of acts of God or civil commotion, riots, strikes, picketing or other labor disputes, shortage of materials or supplies, damage to work in progress by reason of fire, floods, earthquake or other casualty, restrictions imposed or mandated by govemmental or quasi-govemmental entities, enactment of conflicting laws, litigation, acts or neglect of other parties, or any other cause beyond the reasonable control of a party. Each party shall promptly notify the other parties of any delay hereunder as soon as possible after the same has been ascertained. The term of this Agreement and the time or phasing deadlines for such performance shall be extended or excused by the period of any such AHA QUARRY CREEK 29SEP14 r delay. 7. Hold Harmless. Developer (or its successor or successors) will indemnify and hold harmless (without limit as to amount) City and its elected officials, officers, employees and agents in their official capacity (hereinafter collectively referred to as "Indemnitees"), and any of them, from and against all loss, all risk of loss and all damage (including expense) sustained or incurred because of or by reason of any and all claims, demands, suits, actions, judgments and executions for damages of any and every kind and by whomever and whenever made or obtained, allegedly caused by, arising out of or relating in any manner to Developer' actions or defaults pursuant to this Agreement, and shall protect and defend Indemnitees, and any of them with respect thereto. The provisions of this section shall survive any release or termination of this Agreement. 8. Insurance Requirements. Developer (or its successor or successors) shall obtain, at its (or their) expense, comprehensive general liability insurance for development of the Affordable Units naming Indemnitees as additional named insureds with aggregate limits of not less than Five Million Dollars ($5,000,000), for bodily injury and death and property damage, including coverages for contractual liability and products and completed operations, purchased by Developer (or its successor or successors) from an insurance company duly licensed to engage in the business of issuing such insurance in the State, with a current Best's Key Rating of not less than A-:V, such insurance to be evidenced by an endorsement which so provides and delivered to the City Clerk prior to the issuance of any building permit for the Affordable Multifamily Units. 9. Notices. All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registered or certified mail, retum receipt requested, to the party to receive such notice at the address set forth below: TO THE CITY OF CARLSBAD: CITY OF CARLSBAD Housing and Neighborhood Services Department Attn: Housing and Neighborhood Services Director 1200 Carlsbad Village Drive Carlsbad, Califomia 92008-2389 TO THE DEVELOPER: McMILLIN QC2, LLC c/o Corky McMillin Companies Attn.: Brian Milich 2750 Womble Road, Suite 200 San Diego, California 92106 Any party may change the address to which notices are to be sent by notifying the other parties of the new address, in the manner set forth above. 10. Integrated Agreement. This Agreement constitutes the entire Agreement between the parties and no modification hereof shall be binding unless reduced to writing and signed by the parties hereto. 11. Duration of Agreement. This Agreement shall remain in effect for 55 years following the date certificates of occupancy have been issued for all Affordable Rental Units or 30 years following the date of certificates of occupancy have been issued for all Affordable For-Sale Units. This Agreement, AHA QUARRY CREEK 29SEP14 /: and any section, subsection, or covenant contained herein, may be amended only upon the written consent of Developer and the Housing and Neighborhood Services Director. 12. Recording of Agreement. The parties hereto shall cause this Agreement to be recorded against the Subject Property in the official Records of the County of San Diego. 13. Severability. In the event any limitation, condition, restriction, covenant, or provision contained in this Agreement is to be held invalid, void or unenforceable by any court of competent jurisdiction, the remaining portions of this Agreement shall nevertheless, be and remain in full force and effect. 14. Cooperation. The parties acknowledge and agree that this Agreement will require mutual good faith and cooperation in the timely implementation and performance of this Agreement and that time is of the essence herein. Each party covenants to the other to expeditiously proceed in good faith to implement this Agreement, including but not limited to, executing and recording any documents necessary to release any portion of the Subject Property, processing and approving the Site Development Plan(s) for the Affordable Units, and finalizing an Affordable Housing Development Agreement for each Affordable Units project. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first above written. DEVELOPER: McMILLIN QC2, LLC, a Delaware limitedJi^ilitv^company 3, C Name: /?^^^ ^IHU4 Title: Name: 0<D»4 ^H |TCH€^L<> Title: CITY: CITY OF CARLSBAD, A Chf^tereOi^unicipal Cpiporation By: Debbie Fountain Housing & Neighborhood Services Director ATTEST: By: Barbara Engleson, City Clerk APPROVED AS TO FORM Celia Brewer, City Attomey 4//^' //-/-// Jane Mobaldi, Assistant City Attorney Proper notarial acknowledgment of execution must be attached. If a Corporation, Agreement must be signed by one corporate officer from each of the following two groups. *Group A. Chairman, ** Group B. Secretary, AHA QUARRY CREEK 29SEP14 CALIFORNIA ALL PURPOSE CERTIFICATE OF ACKNOWLEDGMENT STATE OF CALIFORNIA COUNTY OF SAN DIEGO On October 14, 2014, before me, Ann M. Futo, Notarv Public, personally appeared Brian Milich and Don Mitchell, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his4ief/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 1 certify under PENALTY OF PERJURY under the laws of the State of Califomia that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ^ * * * • • n I I - - I , ANN M. FUTO ^ Commission # 2002146 t Notary Public - California f San Diego County 5 My Comm. Expires Jan 20171 * • mt This area for official notarial seal Notary Form 2013 ATTACHMENT A LEGAL DESCRIPTION APN: 167-040-21-00 (ENTIRE PROPERTY) Real property in the City of Carlsbad, County of San Diego, State of Califomia, described as follows: THAT PORTION OF RANCHO AGUA HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO PARTITION MAP NO. 823, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, NOVEMBER 16, 1896, DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEASTERLY CORNER OF LOT "J" OF SAID RANCHO; THENCE SOUTHWESTERLY ALONG THE NORTHWESTERLY LINE OF SAID LOT "J" SOUTH 69° 36' 25" WEST 2,149.10 FEET RECORD SOUTH 69° 36' 00" WEST 2,152.00 FEET, MORE OR LESS TO THE SOUTHERLY PROLONGATION OF THE WESTERLY LINE OF THE LAND DESCRIBED IN DEED TO ROSA MARRON, RECORDED MAY 1, 1903 IN BOOK 324, PAGE 114 OF DEEDS, RECORDS OF SAN DIEGO COUNTY; THENCE NORTHERLY ALONG SAID PROLONGATION AND SAID WESTERLY LINE NORTH 05° 23' 20" WEST, RECORD NORTH 07° 35' 00" WEST, 1,906.40 FEET, TO AN INTERSECTION WITH THE SOUTHERLY LINE OF LAND DESCRIBED IN A DEED TO THE STATE OF CALIFORNIA FOR FREEWAY PURPOSES, RECORDED NOVEMBER 13, 1964 AS FILE NO. 206558 OF OFFICIAL RECORDS; THENCE ALONG SAID SOUTHERLY BOUNDARY, NORTH 54° 35' 03" EAST 61.20 FEET, RECORD NORTH 54° 12' 28" EAST 66.68 FEET; NORTH 62° 19' 49" EAST, RECORD NORTH 61° 50' 14", EAST 781.78 FEET; NORTH 70° 22' 43" EAST, RECORD NORTH 70° 00' 08" EAST, 160.25 FEET; NORTH 53° 37' 35" EAST, RECORD NORTH 53° 15' 00" EAST, 60.91 FEET; NORTH 11° 22' 59" EAST, RECORD NORTH 11° 00' 24" EAST, 91.21 FEET; NORTH 69° 05' 01" EAST, RECORD NORTH 68° 42' 26" EAST, 625.00 FEET; SOUTH 71° 01' 22" EAST, RECORD SOUTH 71° 23' 57" EAST, 97.79 FEET; SOUTH 29° 15' 52" EAST, RECORD SOUTH 29° 38' 27" EAST, 45.80 FEET; NORTH 89° 44' 27" EAST, RECORD NORTH 89° 21' 52" EAST, 97.35 FEET; NORTH 51° 23' 56" EAST, RECORD NORTH 51° or 21" EAST, 180.95 FEET; NORTH 79° 55' 20" EAST 17.18 FEET, RECORD NORTH 79° 32' 45" EAST, 17.12 FEET; NORTH 82° 05' 47" EAST, RECORD NORTH 81° 43' 12" EAST 32.23 FEET; NORTH 20° 31' 54" EAST, RECORD NORTH 28° 09' 19 EAST, 25.12 FEET; NORTH 63° 40' 35" EAST, RECORD NORTH 63° 18' 00" EAST, 67.81 FEET; AND NORTH 84° 42' 03" EAST 126.8 FEET, RECORD NORTH 84° 19' 28" EAST 135.48 FEET, TO THE INTERSECTION WITH THE HEREINBEFORE SAID EASTERLY LINE OF LAND CONVEYED TO SILVESTRE MARRON, SAID POINT OF INTERSECTION BEING ALSO FOR REFERENCE ALONG A RADL\L LINE SOUTH 18° 13' 52" EAST 202.64 FEET FROM THE ENGINEER'S STATION 196 PLUS 96.37 P.O.C. CENTER LINE OF THE DEPARTMENT OF PUBLIC WORKS 1951 SURVEY FOR ROAD XI-SD-196-OCN-A; THENCE SOUTH 01° 19' 47" EAST, 2,063.50 FEET TO THE POINT OF BEGINNING. EXCEPTING THEREFROM THAT PORTION, IF ANY, LYING NORTHERLY OF THE SOUTHERLY LINE OF LAND DESCRIBED IN A FINAL ORDER OF CONDEMNATION, RECORDED APRIL 29, 1954 EST BOOK 5223, PAGE 37 OF OFFICIAL RECORDS. ALSO EXCEPTING THAT PORTION OF LYING WITHIN THE FOLLOWING DESCRIBED LAND: COMMENCING AT THE NORTHWEST CORNER OF RECORD OF SURVEY NO. 9336, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MAY 12, 1983 AS FILE NO. 83157668 OF OFFICIAL RECORDS; THENCE NORTH 70° 04' 42" EAST 1,005.63 FEET TO THE TRUE AHA QUARRY CREEK 29SEP14 Q POINT OF BEGINNING, SAID TRUE POINT OF BEGINNING BEING A POINT ON THE ARC OF A NON-TANGENT 178.00 FOOT RADIUS CURVE, CONCAVE SOUTHEASTERLY A RADIAL LINE TO SAID CURVE BEARS NORTH 52° 29' 44" WEST; THENCE ALONG THE ARC OF SAID CURVE 101.20 FEET THROUGH A CENTRAL ANGLE OF 32° 34' 26"; THENCE NORTH 70° 04' 42" EAST 170.00 FEET TO A 228.00 FOOT RADIUS CURVE, CONCAVE SOUTHERLY; THENCE ALONG THE ARC OF SAID CURVE 87.61 FEET THROUGH A CENTRAL ANGLE OF 22° 00' 59"; THENCE SOUTH 87° 54' 19" EAST 30.34; THENCE SOUTH 70° 04' 42" WEST 379.43 FEET TO THE TRUE POESTT OF BEGINNEMG. AHA QUARRY CREEK 29SEP14 10 ATTACHMENT B Quarry Creek Affordable Housing Agreement Phasing for Development and Construction Affordable Units vs. Market-Rate Units Action Required Master Tentative or Final Maps Released Building Permits Released % of total permits for project Comments Initial Affordable Housing Agreement fully executed with Site Plan to identify location of affordable development Final A (Master Tentative) maps and grading permits for all properties within Master Plan None N/A AHA allows for release of Final A maps, but no release of Final B Maps or building permits until formal Site Development Plan (SDP) is approved for affordable development. SDP approved by Planning Commission for the minimum affordable housing units as specified in Section 1 of the Agreement, and Amended and Restated Affordable Housing Agreement fully executed and recorded against all residential properties in Master Plan Final B maps and grading permits for all properties within Master Plan Building permits for 33% of total market-rate units and up to 95 affordable units 33% of market- rate units released and up to maximum of affordable units w/in Master Plan The SDP allows for approval of Final B maps and related grading permits. A portion of the building permits for 636 residential units total may also be released at this time Foundations complete, inspected and approved for up to 95 affordable housing units, depending on mix of for-sale and rental housing N/A Building permits for an additional 33% of total market-rate units 66% of total market-rate units released A total of 66% of market rate building permits may be released at this point. Certificates of Occupancy issued for up to 95 affordable housing units, depending upon mix of for-sale and rental housing. N/A Building permits for the final balance of market-rate units Remaining 34% of market- rate units released At this point, all (i.e., 636 minus number of Affordable Units) market rate units and up to 95 affordable units will have received building permits for construction AHA QUARRY CREEK 29SEP14 11 Total Up to 636 housing AU (i.e., 636 minus 100% units maximum the number of Affordable Units) market rate units and up to 95 affordable units AHA QUARRY CREEK 29SEP14 12 ATTACHMENT C LOCATION, SIZE, AND BEDROOM COUNT OF AFFORDABLE UNITS Agreement to be amended at later date to add this information upon approval of Site Development Plan for the affordable housing units within the Quarry Creek Master Plan. AHA QUARRY CREEK 29SEP14 •^ ^ ATTACHMENT D Site Plan for Affordable Development Locationfs) AHA QUARRY CREEK 29SEP14 j ^ UJ gi (V H-j ro C O < 0) §1 o > o Q o CD •a I C Q_ c/3 3 o E 1^ IU (9 111 if sl O) 5 ID t- cM CO) c OJ oro M-5, ES °-.S OJ £ ro >,£ » (0 roo § ^ E £• £ "D m fc *: o (D ro 12 f » — c ro ro 3 £ S ^ >. -^ll sis? .."3 if o V ro ll_ £L o.