HomeMy WebLinkAboutResolutions 8971 N.C.S. 10/06/1980PLK:ad 10-2-80
OCT 3 1980 6.
Resolution No. sa * X.C.S. D
of -thee City of Petaluma,, California
A RESOLUTION -�AUTHORI-Z1NG THE MAYOR OR, ,CITY MANAGER TO
EXECUTE; AN AGREEMENT TO= PROVIDE LOW AND MODERATE
HOUSING WITH ' DIAMON'DHEM, INC,,
BE IT RESOLVED-thatthe Mayor -or City',%nager is hereby authorized
to execute::. an agreement for provid ng•,low -and moderate income housing
with Diamondhead, Inc:, substantizlly in the form attached. hereto as
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Exhibit A as approved by the City Attorney.
Under the power= and authority .conferred „upon this Council by,the Charter of said City.
I hereby certify the ;foregoing. Resolution 'Was ;introduced and adopted by the
Council of the .Cit of Petaluma at (Regular) A "T14 �IX049" meeting p - as to
Y, f g ) f 3�1,.. g
on the .................6:th.. day of .................0.ct0,be:r::........... ......19 ..... 80by the
following. vote:
City Attorney
AYES: Councilman Perry, 'Harbers,on, Bond, Vice. -Mayor .Battaglia, Cavanagh, Mayor Mattei
NOES: N one.
ABSENT_:: Co _. 11 man Ba,l
ATTEST:
....... .. ...................................................
CityGlerk # Mayor
COUNCIL FILE 7
FORMCA,2 1/..ESO REs. No. . 9./ 1. N..t�,.S:..
-PLK:dh 10/9%80
AGREEMENT FOR LOW INCOME S.ENTOR CITIZEN HOUSING
DIAMONDHEAD, ELDERLY:CONDOMINIUMS
THIS AGREEMENT; its ;entered into' thi"s day of
19-80 by,. and between D'amondhead, Inc., a,
California Corporation `(Deve.lpper) and the City of Petaluma, a California
Munici pal Corporation. (City);:
RECITALS
1. Developer desires. to construct a .sen=ior citizens housing development
planned to include 53dwelling. units' on the Real Property describedas Asses'sor's
Parcels No. 08-281=52 and 55, also known as, Diamondhead Elderly Condominiums
I
2. City's -General PTO -has a goal the, provision of 8-12% low and
moderate income housing asp a` part, o_f -new, development.
i 3. Developer c -an satisfy thi's goal- by providing dwelling units at
below market rates either' for 'sale or fo!r rent, a.nd developer proposes to
bui''1d units for sale.
I 4. In lieu of s.al;e of -the appropriate, number o:f low or moderate
income units at below market rates, developer has- proposed outright dedication
of ,two dwelling uniats to City, or its des;lgnee to provide such !housing, on the
terms hereinafter °set forth.
j AGREEMENT
1. Upon approval of Devel;o:per"s project -,,`Developer will designate
two units to be mutually agreed upon to be used as: low `.ncome housing for
senior citizens. only. Each- unit will' be: approx ,ma.tely .600 square feet;. 1
bedroom., "1 bath.
2. Upon- a pprova.l 'of the F nal. Subdivision Map. for the project,
Developer will convey. the u:ni1s ao- set ast,de to the City or: its designee, in
f
fee, and will. comple-te the same at'the -same" time as the unit's immediately
adjacent ;.theretoThe City:may withhold' occu;pany permits for the last. ten
hous7ng�-units `to� be constructed in, the devel'opnent in order to insure completion
of the, units to be conveyed 'to .the City.
EXHIBIT..
s.
; PLK:dh 10/9/80
3. City or` its• designee sha I l' have the: ri'gh't to sell, lease .or
otherwis,e transfer al l or.'a portion of` . t,s interest in': zany• dwe11,i`ng-. unit
acquired hereby to any pe,rs-:on..•o:r entity what oeve'r without further u,se restriction,
so Jong as the proceeds, ;of such transaction are dedicated to the provision of
senior c1tizen. low, or moderate income .housing At .any t"ime,City sha 1 further
havel, the right to transfer,;, v th or wilt`hout .consi`deration;. fall .or any portion
of if s interest in any unit acquired he'reb, t any pe,rson', unincorporated
asso'ciati'on, corparation .or ot'her entity, which sh:al;l guarantee, the continued
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use: 46f •sa ld unit or units for low and moderate i•n°comerhousing, and the. proceeds
o,f such transaction maybe used without restriction. • In.. such case, the transferee
shalll succeed to all r .gh'ts and ob`1 i,gations .of" City created hereby. The
interest of City, or its :designee may be pledged as secur-ity for mortgage or
deed; of trust, so long as -the 'proceeds,, of such transaction are used fo:r capital`
investment in'1ow, or -moderate income senior citizen housing.
4.. Time is of the.essence of this agreement.'
5. Any. notice requ"i red to be .g i'w:en hereby _shat l - be in writing and
be gjJ Ven -by depositing the same in the `United States. maa.l',-vith postage fully
prepaid., and '.addres ed: as f611ows,:
I.• CITY: Ciay Manager
j City of-Petatuma
Po' t Off1co Box. 61
Pe�ta1uma, CA, 94952
DEYELOPER,: D'iamondhead; Inc..
419 Columbus Ave:
San Francisco, CA 941'33
6. The. 61b igati ons of. thi s agreement. !shad I' run with the land and
shall be, binding on the: he14-`s de-,ui sees,, and succ'e'ssors; of` devel opera Ei ther
panty may record-thi;s agreement or, a memorandum thereof, and -h,, recordation
shall be notice to •al 1, parties of °the terms and conditions' thereof.