HomeMy WebLinkAboutOrdinances 1894 07/20/19922
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ORDINANCE NO. 1894 N.C.S.
Introduced by Councilmember
Seconded by Councilmember
Lynn Woolsey Vice Mayor Cavanagh
AN ORDINANCE OF THE CITY OF PETALUMA APPROVING AMENDMENT NO.2
TO THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF PETALUMA
AND MCBAIL COMPANY FOR THE DEVELOPMENT KNOWN AS GLENBROOK
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF PETALUMA AS
FOLLOWS:
Section 1. The City Council hereby finds that the provisions of the Amendment to the
Development Agreement between the City of Petaluma and McBail Company, a copy of
which is attached hereto as Exhibit 1 and incorporated herein by reference, is consistent
with the General Plan, Corona/Ely Specific Plan, and other applicable plans, policies,
ordinances, and regulations of the City of Petaluma.
Section 2. The City Council hereby approves the terms and conditions of said
Amendment.
Section 3. The Mayor or City Manager of the City of Petaluma is hereby authorized and
directed to sign Amendment on behalf of the City of Petaluma.
Ord. 1894 NCS
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IF ANY SECTION, subsection, sentence, clause or phrase or word of this Ordinance is for
any reason held to be unconstitutional by a court of competent jurisdiction, such decision
shall not affect the validity of the remaining portions of this ordinance. The City Council of
the City of Petaluma hereby declares that it would have passed and adopted this ordinance
and each and all provisions thereof irrespective of the fact that any one or more of said
provisions be declared unconstitutional.
INTRODUCED and ordered Posted/Published this 6th day of July
1992.
ADOPTED this 20th day of July , 1992, by the following vote:
AYES: Read, Davis, Nelson, Vice Mayor Cavanagh, Mayor Hilligoss
NOES: None
ABSENT: Woolsey, Sobel
ABSTAIN: None
ATTEST:
City Clerk
glnbrk / counci18
APPROVED
ayor
ty
FORM:
Ord. 1894 NCS
2
AMENDMENT NO. 2 TO DEVELOPMENT AGREEMENT
BY AND BETWEEN THE.
CITY OF PETALUMA AND'McBAIL.COMPANY
FOR THE `DEVELOPMENT '`KNOWN AS
GLENBROOK
CITY CLERK
: CITY OF PET'ALUMA
p.. O. BOX 1
PETALUPAea►.:GA 94953
.z
Lo
u' A.P.N. 137--06'0-19
C .
'This ,Akendment No.. 2 to Development Agreement is entered C�
into this day' of , �4i9xj-3L--, by and between
the. City 'of Petaluma, V. ity10) a municipal pal corporation, and c:
McBAIL COMPANY: (°t:Developer01)�
R E C tTA'LSt
A. On March 19,.1990 the City of Petaluma ("City") and
McBail'Company ('"Developer") entered into a Development Agreement
under -the authority of-' Section 65864 through 65869.5 of the O
Government Code ("the:Development Agreement")..
B. On February 8, 19'91'..'the real property described in�
the Development Agreement was, annexed to. the- City satisfying
condition 9'.8(,2) of the Development Agreement. On January 16,
1990, City,, created City of Petaluma, Corona/Ely Special
Assessment `District No. 21 (the "Assessment District1°) in order
to pay for and construct the infrastructure and other public
improvements necessary to serve Developer's property;. thereafter
the Assessment District sold bonds in the amount of
$16,120,00;0.00, on July 15,, 1991, satisfying condition 9.8(3) of
the Development Agreement.
C. Al:l conditions in paragraph 9.;8 of the Development
AMENDMENT,. 2 B (7D) 1 8 9 4 N C
0,7 /.'0.7 / 9�2
Agreement have been satisfied and the Development Agreement,
became effective on July 15, 1991.
D. City and Developer desire to amend the Development.
Agreement as provided below.
NOW, THEREFORE, the Development agreement is amended as
follows:
I. Paragraph 5.1 of the Development Agreement is amended
to read as follows:
5.1 Fees.. ,All other development fees shall be
the amount determined from timeto time by the City
Council for application to the City as a whole. A
schedule of the fees in effect on the date of this
Agreement is attached as Exhibit 4 (brochure entitled
"Special Development Fees") to this Agreement, as
amended from time to time. City may increase existing
fees, including traffic mitigation fees, or impose fees
in addition to those in Exhibit 4 (including traffic
impact fees) as long as, but only -if, those fees are
normally required to be paid by 'developments on a
citywide basis.
II. Paragraph 5.3 is added to the Development Agreement to
read as follows:
5.3 Traffic Mitigation Fees. Developer further
agrees to pay to City traffic mitigation fees for each
dwelling unit constructed on the property in the
amount provided in Ordinance No. 1837NCS and
2
AMENDMENT..2B (7D.) 18 94 N C S
07/07, _92
Resolution No. 91-45NCS or as amended or superceded by
subsequent ordinances or resolutions. The time for
paying traffic mitigation fees shall be as set forth in
this Agreement. The foregoing notwithstanding, the
Developer agrees
that
it shall have paid to
City on or
before July 15,
1994,
which is three years
following
sale of City of Petaluma, Corona/Ely Special Assessment
District No. 21 bonds, its proportionate share of $1.5
million in traffic mitigation fees (the "proportionate
share9'. The sum of $1.5 million is the amount the
Developers named in the following schedule had agreed
to advance to the City for'traffc mitigation measures
made necessary by those Developers' projects.
Developer's proportionate share shall be determined by
multiplying the percentage shown for Developer in the
following schedule times $1.5 million dollars.
In addition, Developer shall pay interest on the
amount of its unpaid proportionate share described
above on or before January 15 of each year after the
date of this Agreement . Interest shall accrue from
July 15, 1991. The interest rate shall be 7.6389%
which is the net interest rate applicable to the City
of. Petaluma, Corona/Ely Special Assessment District No.
21 bonds. Interest shall be calculated monthly on the
declining,. unpaid balance of the Developer's
proportionate share.
3 -14 a3 S,
AMENDMENT.2B .(7D) OBLO, 18 9 4 N C
07/07/'92 _
Developer. -Is proportionate share shall be reduced
dollar -for -dollar for each dollar of traffic
mitigation fees it pays to City out of the close of
escrow for sales of individual dwellings or commercial
construction as provided in Ordinance 1837NCS and
Resolution 91-45NCS as amended or superseded.'
If on July 15, 1994, Developer's proportionate
share of the $1.5 million remains unpaid, Developer
shall thereafter pay at ' each close• of escrow for sales
of individual dwellings or commercial construction on
the property an amount equal to one hundred fifty
percent (150%) of the traffic mitigation fee otherwise
due until Developer's proportionate share is paid in
.full. Developer's obligation to pay traffic mitigation
fees shall not exceed the amount determined by
multiplying the total number of dwelling units actually
constructed by Developer under this Development
Agreement by the traffic mitigation fee established by
Ordinance 1837NCS and Resolution 91-45NCS as amended or
superceded or Developer's proportionate share,
whichever is greater.
Schedule
Sonoma -Parkway Company 37.26%
McBail Company 26.30%
Cherry Lane Associates 12.47%
Cader Farms Investors 4.75%
Quaker Hill Blackburn 9.81%
B-T Land Development, Inc. 9.41
TOTAL 100.00%
4
AMENDMENT.2B (7D)
07/.07/92 ORD. 18 9 4 N C S
III. 'Paragraph 5.4 is added to the°Development Agreement to
read as follows:
5:4 Proceeds from _Bond. Sale. Subject to the
requirements of state law and the enabling resolution
adopted by the City .Council oii; January 16, 1990, the
parties agree the proceeds from sale of bonds by the
City of Petaluma., Corona./Ely Special Assessment
District No. .21 -(the 1lassessment district") shall be
used for the following .purposes in the following
priority:
a. To pay the costs of forming the
assessment district, selling the bonds, interest, and
'other costs of administration;
b. To .pay the cost to construct the
improvements described in the official Statement
adopted by the assessment- district, including
reimbursement of up front.- engineering and formation
costs paid by Developer;
c. If funds remain, to pay to the extent
,Possible the cost of improving (:including design, plan -
check,,, inspection, supervision, and, other -associated
costs) Ely Road between Corona Road and the boundary of
the assessment district according to plans and
specifications approved by City,;
d, If :. 'funds remain, to pay to the City of
5
AMENDMENT.,2B (7D)
07/,Q7.192•
•
��«,.1 0 y 4 N C S
Petaluma to the extent possible traffic mitigation fees
in an :amount not to exceed '$1..5 million;
e. If funds remain, to retire .or to call
bonds issued bythe assessment district in the same
proportion as the bonds were spread..
.IV. The Participation Schedule attached to the Development
Agreement as Exhibit 3 shall be changed to read `as follows:
Exhibit, 3.
Participation Schedule
Name Assessment Number Percentage
Sonoma Parkway Company 6A, 6B, 6'C, 17 36.85%
McBail, Company 1, 2, 3,,4, 50, 7 26.01%
Cherry. Lane Associates 8 12.33%
Cader. Farms Investors Part of 9, 10, 11, 12, 15 4.70%
Quaker Hill, Blackburn Part of 9, 10, 11, 12, 15 9.70%
B-T Land•DdVelopment, Inc. 13, 14, 16B 9.31%
Other (not parties to this Agreement) 1:11
TOTAL 10D1. 001
V. Paragraph 10 is added to the Development Agreement to
read as follows:
10. Ely 'Road Improvements.The parties agree
the reach of Ely Road between Corona Road and the
boundary of 'the City of. Petaluma, Corona/Ely Special
Ass�e:ss,ment District No. 21 (10the" Ely Road
improvements"') shall be constructed using proceeds from
the sale of Assessment District bonds according to the
6
AMENDMENT.'2B (7b)
07./.07/92R.18 9 4 N C S
plans and specifications approved by. City. Developer
agrees to cooperate with the Developers identified in
'Exhibit 3 to this Development Agreement -to ,employ the
services of MacKay & Somps to prepare plans,
specifications, estimates,, and other documents
necessary to permit construction of the .Ely. Road
improvements.' Developer's cooperation. shall include
payment of its fair share of,the cost of such services,
as that fair share shall be determined by the
Developers named in Exhibit 3 of this Development
Agreement. City agrees that the -cost of designing and
.engineering the Ely Road improvements shall be eligible
for ,reimbursement. 'The parties .:intend the entire cost
of the Ely Road improvements (including design, plan
check, inspection, supervision', and other associated
costs) shall be paid from proceeds from the sale of
bonds of the Assessment District.
If the bond proceeds are not sufficient.to pay the
estimated cost of the Ely Road improvements, Developer
.shall have no obligation to build the same nor to pay
any cost. associated with such construction. Developer
agrees the Assessment District may, reserve funds for
construction of the Ely Road improvements and to- pay
the same for'construction of' the Ely Road improvements.
If the funds reserved for the Ely Road
improvements held by the Assessment District are not
AMENDMENT". 2 B ('7 D )
07/07/9.2
0RD.1894NCS
expended within a reasonable time after the date of
this Amendment, the reserved funds shall be paid out as
provided in paragraph 5.4. For purposes of this
;paragraph, a "reasonable time" shall 'not be less than
'three (3) years from the date of this Amendment.
VI. All other terms and conditions of the Development
Agreement as amended shall remain in full force and effect.
Executed the day and year first above written.
APPROVED BY:
By _
Finance
DEVELOPER
CITY OF
A Huni c
tion
.By . `-
City Manager
ATTEST'" 7 7,
By
City Clerk _ y�
By
r partment Head
MCBAIL COMPANY, a California
general.partnership
By /152�
Rik Manager
8
AMENDMENT.2B(7D)
07/07/92a►i<.:18 9 4 N C
9-3sC�_