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Home My WebLink AboutReso 2015-089 RESOLUTION I�'O. ZO1�-089 RESOLUTION OF THE CITY COUI�'CIL OF THE CITY OF CHULA VISTA APPROVI2�'G AN AMENDMEI�'T TO THE AGREEMENT REGARDII�iG COI�TSTRUCTIOI�' OF PARKS II�' A PORTION OF OTA7' RANCH EASTERN URBAI`r CE1�'TER R'HEREAS. Mcb4illin Otav Ranch, LLC. a Delawaze limited liabilit}� compan}� (`McMillin `) and Ciri� entered into the "Development Agreement by and between the Citv of Chula Vista and McMillin Ota}� Ranch LLC." recorded October 27. 2009, as Document No. 2009-0�9�116 of Official Records of the San Diego County Recorder (the "De��elopment Agreemenr'). and the "Agreement Resarding Construction of Pazks in a Portion of Otap Ranch Eastem Urban Center,' recorded October 28, 2009, as Document No. 2009-0�99389 of Official Records of the San Dieeo County Recorder (the "Pazks Aereement '). The Pazks Agreement relates to H=hat it called "EUC:' which is now l:no�m as "Millenia'': and R'HEREAS, b�� an assignment. memorandum and confirmations recorded Februan- 22, 2011 as Document No. 2011-0098720 of Official Records of the San Die�o Count}� Recorder, McMillin assigned its rights and transferred its obligations under the Development Agreement and Pazks Aereement to Master De��eloper; and VJHEREAS, Master Developer and Cit}� wish to refine the Pazks Agreement by providine some flesibility for the pa��ment of ImLieu Fees for certain de��elopments. such as affordable housing projects; and VJI-IEREAS. Chelsea In��estment Corporation, utilizing to-be-formed limited partnerships of ��hich Chelsea Imestment Corporation will be a partner. the "Developer'), proposes to construct a 123 low-income senior multifamil�� rental development, located neaz the southwest corner of Birch Road and Eastlake Parkwa}� within the Otay Ranch Eastem Urban Center (EUC and aiso knoNm as A7illenia) master planned communit� (`Senior Projecr'); and R'HEREAS, De��eloper proposes to also construct an 87 unit low-income multifamily rental development. located near the southwest comer of Birch Road and Easdake Parkwap within the Ota}� Ranch Eastem Urban Center (EUC and also known as Millenia) master planned community (`Famih� Projecr'); and VJHEREAS, as the obligation to pay the deferred fees under the Pazks Agreement should ❑ow be transferred from the Masrer De��eloper to Developer as ow�ner and operator of the Senior and Famihr Projects. NOW. THEREFORE. BE IT RESOLVED bv the Cit�� Council of the Cirv of Chula Vista that the Parks Aereement is herebv amended and attached as Ezhibit 1. Resolution No. 201�-089 Page No. 2 Prese t by Approved as to form by Kell. . oughton, FASLA Gle R. Googin Director of Development Services City � PASSED; APPROVED, and ADOPTED by the City Council of the City of Chula Vista; California, this 21 st da}- of Apri] 20]5 by the following vote: AYES: Councilmembers: Aguilar, Bensoussan and McCann NAYS: Councilmembers: None ABSENT: Councilmembers: Salas ABSTAIN: Councilmembers: Miesen � � Mary S s, Mayor ATTEST: �� . Donna R. Norris, CMC; ity Clerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) I, Donna R. Norris, City Clerk of Chu1a Vista, California, do hereby certify that the foregoing Resolution No. 2015-089 was duly passed, approved, and adopted by the Ciry Council at a regular meeting of the Chula Vista City Counci] held on the 21 st day of April 2015. Eaecuted this 21 st day of April 2015. � Donna R. Norris, CMC, City Clerk Resolution No. Z01�-089 Pase No. 3 THE ATTACHED .aGREEngNT H.4S BEE�� REVIEt�%ED AND APPROV"ED AS TO FOR�9 BY THE CIT1' ATTOR��EI"S OFFICE A\�D VdILL BE FORMALLY" SIGNED UPO\� APPROV.4L BY Tf-IE CITY COUIvCIL �. /�� Glen R. G000ins Citv .Attomev Dated: / � /�i` � S FIRST Ai��\iDME\fT TO .AGREE�'IE\iT BET�4TEEN THE CITY OF CHUI.A VISTA A1�rD SLF IV — �91LLE1�'IA LLC REGARDI\iG CONSTRUCTIO\' OF PARICS I\� A PORTION OF OTAY RA\�CH E.ASTERT� [JRBA\� CENTER � Resolution I�'o. 201�-089 Page No. 4 Recording Requested B}•: and When Recorded Mail To: City Clerk City of Chula Vista 276 Fourth Avenue Chula Vista, California 91910 EXEMPT FROM RECORDER'S FEES Pursuant to GovERrr1.-tFa.*1'CoDE§6103 (ABOVE SPACE FOR RECORDER'S USE OI�TLY) FIRST AMEA'DMENT TO AGREEMENT REGARDING CONSTRUCTION OF PARKS IIQ A PORTION OF OTAY RANCH EASTERN URBAN CENTER THIS FII25T AMENDMEATT TO AGREEMENT REGARDING CONSTRUCTION OF PARKS IIr' A PORTION OF OTAY RANCH EASTERN URBAN CENTER ("First Amendment") is made as of this _ day of , 2015, by and between the CITY OF CHULA VISTA, a California municipal corporation and charter city ("City") and SLF N - MII.LENIA LLC, a Delaware limited liabiliry company ("Master Developer") with reference to the following facts: RECTTALS A. MCMILLLN OTAY RANCH, LLC, a Delaware limited liability company ("McMillin") and Ciry entered into the "Development Agreement by and between the City of Chula Vista and McMillin Otay Ranch LLC," recorded October 27, 2009 as Document No. 2009-0595116 of Official Records of. the San Diego County Recorder (the "Development Agreement"), and the "Agreement Regarding Construction of Pazks in a Portion of Otay Ranch Eastern Urban Center," recorded October 28, 2009 as Document No. 2009-0599389 of Official Records of the San Diego County Recorder (the "Parks Agreement"). The Parks Agreement relates to what it called "EUC," which is now known as "Millenia." This First Amendment will retain the defined term "EUC" only for clarity. � B. By an assignment, memorandum and confirmations recorded February 22, 2011 as Document No. 2011-0098720 of Official Records oP the San Diego County Recorder, McMillin assigned its ri�hts and transferred its obligations under the Developmenc Agreement and Parks Agreement to Master Developer. C. Master Developer and City wish to refine the Pazks A�reement by providing some flezibility for the payment of In-Lieu Fees for affordable housing projects. - � - Resolution No. 201�-089 Pase No. � ?�OW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which aze hereby ac}:nowledged, the parties hereby a�ee as follows: 1. Possible Fee Deferral. Section 2.4 of the Parl:s A�eement is hereby amended by adding a new paraaraph (c), as follows: (c) Notwithstandine para�raph 2.4(b), above, City and Master Developer may a¢ree to defer payment of In-L,•ec Fees .`cr projects that the City determines qualify as afFordable housing projects within EUC. ?v`otwithstanding Section 13.10(a), upon Ciry Council approval and the City and the owner ("Owner") of the affordable housin� project entedng into an a�reement with respect to deferring payment of the In-Lieu Fees generated by such affordable housin� project, the obli�ation to pay the In-Lieu Fees generated by such affordable housing project, shall be transfeaed from the Master Developer to the Owner and the Master Developer shall have no further obligation to the City with respect to the In-Lieu Fees �enera[ed by such affordabfe housing project. Any such deferral shall durease the Master Developer's obligation and its pazk c2dits by the same amount and shall not increase the obligations of Master Developer under the Puks ALreement or this First Amendment. 2. Effect of Frst .4mendment. Except as expressly stated herein, the Pazks Aareement remains in full force and eifect on its own terms. To the extent this First Amendment relates to the Development Agreement, City and Master Developer aa ee that this Frst Amendment is a minor"clarification" thereof. 3. Recordation. Upon approval b}• both parties, this First Amendment shall be recorded. IN WITNESS WHEREOF, the parties hereto have entered inro this Agreemen[ as of the da[e set forth above. -� - Resolution No. 201�-089 Page No. 6 A notary public or ot6er offirer completing this certifica[e veriEes oniy the identity of the individual ; who signed the document to which this certi£cate is attached, and no[ the truthfulness, accuracy, or a�alidity of that document � ' STATE OF Ctt}L-�9R�A�u14J ) )ss. COUNTY OE DfV LLp r � On N �� I � n�15 ,before me,�C�/�,�pl �/AIJ,f (insert name and tit[e of tke officer) personallyappeared �P�.T�(�. �.Z��U��-� f"�6I.['lfx✓F17' who proved to me on the basis of satisfac[ory evidence to be the person(s) whose name(s) is/are subscribed to the wit6in instrument and acknowledged to me that he/she/they executed the same in his/hedtheir authorized capaci[y(ies), and that by his/her/their signature(s) on the instrument the person(s), or [he entity upon behalC of which the person(s) acted, execu[ed the � instrumenL � I certify under PENALTY OF PERJURY under the ►aws of the State of California that the foregoing paragraph is true and rnrrect. WITNESS my hand and ofticial seal. Signature� ) (Seal) �"°� Susan C. Evans o�°� � ��,� ronu�. z ' State of Tcras 9'eoe�7 Expires:03-15-2018 _q _ . Resolution No. 201�-089 Pase No. 7 "CITP" "D'iASTER DEVELOPER" CITY OF CHUL.A VISTA,a municipal SLF IV-MILLENIA, LLC, corporadon a Delaware limited liabilit}'company B��: SLF N Millenia lnves[or,LLC, g�� a Tezas limited liability company, Mary Cuillas Salas, Magor its sole and managing member Attest: . Bv: Svatford Land Fund N, L.P., a Delaware limited par'�nership, its co-manaeine member Donna R. Norris, City Clerk � � By: S[ratford Fund N GP, LLC, APPROVED AS TO FORM: a Texas limited liability compan��, its general paztner B y: B� .C� I`""/�[� Glen R. Gooeins, City Atcomey Name: Title: �'�/� -� -