HomeMy WebLinkAboutReso 1999-19468 RESOLUTION NO. 19468
AGENCY RESOLUTION NO. HA-Ogb
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA APPROVING THE FIRST AMENDMENT TO THE
AFFORDABLE HOUSING AGREEMENT WITH A.C.I. SUNBOW,
LLC DECLARING CERTAIN AI=FORDABLE HOUSING
OBLIGATIONS FOR SUNBOW II SATISFIED SUBJECT TO
CONDITIONS
WHEREAS, the City of Chula Vista (the "City") and A.C.I. Sunbow, LLC, a California
Limited Liability Company ("Sunbow"), have previously executed an Affordable Housing
Agreement dated as of May 13, 1997 (the "Agreement") requiring that certain of the
residential units constructed within the Sunbow II Project be constructed as affordable units;
and
WHEREAS, there is now proposed to be constructed within the Sunbow II Project a
132-unit senior project known as "Villa Serena" in which the units are to be reserved for
persons of very low, low and moderate income; and
WHEREAS, the Housing Authority of the City of Chula Vista (the "Authority") is
intending to issue multifamily housing revenue bonds (the "Bonds") to finance a portion of the
construction cost of the Villa Serena apartments in connection with which the Authority and
Serena Sunbow, L.P. (the "Developer") will execute a Regulatory Agreement and Declaration
of Restrictive Covenants (the "Regulatory Agreement") which will provide for not less than
20 percent of the units (27 units) to be reserved for persons of very low income; and
WHEREAS, to facilitate the financing and construction of the Villa Serena apartments
and to implement the terms of the Agreement, the City desires to amend the Agreement, in
part, to declare that A.C,L Sunbow, LLC shall have satisfied a portion of its low and moderate
income housing obligation under the Affordable Housing Agreement upon completion of
construction of sixty-four low income housing units and sixty-eight low and moderate income
housing units within Villa Serena and verification of occupancy of these affordable housing
units by qualified households; and
WHEREAS the proposed form of the First Amendment to the Affordable Housing
Agreement (the "First Amendment") has been presented at the meeting at which this
resolution is being adopted; and
WHEREAS, the Environmental Review Coordinator has determined that the First
Amendment to the Affordable Housing Agreement is exempt from CEQA review under Section
15061 (b)(3) in that the Amendment to the Agreement will not have the possibility of having
a significant effect on the environment, beyond that already analyzed.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista
does hereby approve the First Amendment to the Affordable Housing Agreement related to
Sunbow II, a copy of which is on file in the office of the City Clerk.
BE IT FURTHER RESOLVED that each of the Mayor of the City of Chula Vista and the
City Manager, or his written designee, is hereby authorized and directed, for and in the name
and on behalf of the City, to execute and deliver the First Amendment in substantially the form
Resolution 19468
Page 2
presented, with such additions thereto or changes therein as are recommended or approved
by the City Manager, City Attorney or Bond Counsel and approved by the officer or officers
executing the agreements, with the approval of such officer or officers to be evidenced
conclusively by the execution and delivery of such agreement,
Presented by Approved as to form by
Chris Salomone ~ ....
Community Development Director City Attorney
Resolution 19468
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 18th day of May, 1999, by the following vote:
AYES: Councilmembers: Davis, Moot, Padilia, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
ATTEST:
Susan Bigelow, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 19468 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 18th day of May, 1999.
Executed this 18'h day of May, 1999.
Susan Bigelow, City Clerk