HomeMy WebLinkAboutPCDC Resolution 2007-06 04/16/2007RESOLUTION NO. 2007-06
PETALUi~A COIVIAAUNITY DEVELOPnAENT COAAIIAISSION
APPROVING THE ACCEPTANCE AND CONVEYANCE OF PROPERTY FOR DEVELOPMENT OF
THE PRATES SQUARE PROJECT AND APPROVING RELATED DOCUMENTS
WHEREAS, pursuance to Policy 4.2 of the Housing Element of the City of Petaluma's
General Plan, residential development of five or more units are required to contribute to the
provision of affordable housing; and,
WHEREAS, to satisfy its obligations under Policy, 4.2, the developer of the Southgate
Subdivision has agreed to dedicate a parcel of land known as Sonoma County Assessor's Parcel
No.017-460-079 (the "Property") for the development of 26 affordable homes (The "Project");
and,
WHEREAS, to facilitate the development of the Project, the developer has proposed to
convey the Property to the Petaluma community Development Commission ("PCDC") for
subsequent conveyance to the Housing Land Trust of Sonoma County ("HLT"); and,
WHEREAS, to ensure the long-term affordability of the homes, HLT will enter into ground
leases with the homebuyers; and,
WHEREAS, to ensure compliance with the affordability requirements, HLT has agreed to
execute and record for the benefit of the City (i) an Affordable Housing Agreement with
Declaration of Restrictive Covenants and Option to Purchase ("Affordable Housing Agreement")
and (ii) a performance deed of trust (the '`Deed of Trust"); and,
WHEREAS, the Project will be of benefit to the Petaluma community Development Project
Area ("Project Area") because it will supply housing that will be affordable for the long-term to
households of moderate-income or less; and,
WHEREAS, the California Health and Safety Code Sections 33430 and 33431 provide that
a redevelopment agency may sell real property without public bidding provided the agency
holds a public hearing following publication of notice; and,
WHEREAS, PCDC has caused notice to be published in accordance with law and has
held a public haring regarding the acceptance and conveyance to the Property; and,
WHEREAS, concurrently wifh the conveyance of the Property to PCDC, HLT, Delco Builders
an d Developers ("Delco") and certain. principals of Delco will execute and deliver to PCDC and
the City an indemnity agreement ("Indemnity Agreement") pursuance to which PCDC and the
City shall be indemnified against all liability arising in connection with the condition of the
Property and the construction of the Project.
WHEREAS, the transactions among the parties are more fully described in a
Memorandum of Understanding proposed to be execute by and among PCDC, the City, HLT,
and the Project developer (the "MOU").
NOW, THEREFORE, the Petaluma Community Development Commission hereby:
PCDC Resolution 2007-06 Page 1
Section 1. Approves the MOU, and authorizes the Executive Director to execute
the MOU substantially in the form on file with the City Clerk, with such modifications as the
Executive Director may approve with the advice of the City Attorney
Section 2. Finds that the conveyance and development of the Property as
described in this Resolution and the MOU will facilitate the development of housing for low- and
moderate-income households, will further the goals of the Redevelopment Plan for the Project
Area, and will be consistent with the implementation plan adopted in connection therewith.
Section 3. Approves the acceptance of the Property and the recordation for the
Grant Deed from Mardell, LLC substantially in the form on file with the City Clerk, and authorizes
the City Manager or his designee to execute and cause to be recorded in the Official Records
of Sonoma County, a Certificate of Acceptance for the Property.
Section 4. Approves the Indemnity Agreement substantially in the form on file
with the City Clerk, with such modifications as the Executive Director may approve with the
advice of the City Attorney.
Section 5. Approves the conveyance of the Property to HLT, and authorizes the
City Manager of his designee to execute and cause the Grand Deed conveying the Property to
HLT to be recorded in the Official Records of Sonoma County substantially in the form on file with
the City Clerk with such modifications as the Executive Director may approve with the advice of
the City Attorney.
Section 6. Authorizes the Executive Director or his designee to undertake such
other actions and to execute such other documents as the Executive Director may deem
reasonably necessary to carry out the intent of this Resolution.
ADOPTED this 16th day of April, 2007, by the following vote:
Commissioner Aye No Absent Abstain
Barrett X
Freitas X
Harris X
Vice Chair Nau X
O'Brien X
Rabbitt X
Chair Torliatt ,- ~„
~,~_,_
/~- i
/:
Parr~{ela Toriiatt, hair ~ _
~ _ ~-
ATTEST: APPROVEE?:AS TO ORM:~ -.
_ ,
i _
Claire Cooper, Recording Secr ary Eric Danly, General Counsel
PCDC Resolution 2007-06 Page 2