HomeMy WebLinkAboutReso 1984-11889
RESOLUTI (JI NO. 11889
resolve as follows:
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CfiUlJI VISTA AUTHORIZING THE MAYCR TO SIGN A
~1mOp.ANDUM OF UNDERSTANDING RELATIVE TO CHULA
VISTA HOODS SUBDIVISI (JI TRACT NO. 34-13
The City Council of the City of Chula Vista does hereby
WHEREAS, the City Council approved a tentative subdivision
map No. 84-13, Chula Vista Woods, on November 20, 1984; and,
WHEREAS, the Developer has expressed willingness to provide
certain mechanisms to prevent speculation in home purchases in the subdivision; and,
WHEREAS, a Memorandum Of Understanding specifying those
mechanisms has been generated.
NOW, THEREFORE, BE IT RESOLVED that the Mayor is hereby
authorized to sign that Memorandum of Understanding, attached hereto as Exhibit A,
and incorporated herein as though fully set forth.
Presented by
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Development Director
Approved as to form by
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City Attorney
CHULA VISTA, CALIFORNIA, this
19 84 , by the following vote, to_it:
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
18th
day of December
AYES: Councilmen Scott, Moore, Cox, Malcolm, McCandliss
NAYES: Councilmen None
ABSTAIN: CoI.ncilmen None
ABSENT: Councilmen None
ATTEST ~ /:Z/~ :JJ ~~~C-
// City Clerk
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v
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) s s.
CITY OF CHULA VISTA )
I, JENNIE M. FULASZ, CMC, CITY CLERK of the City of Chula Vista, California,
DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 11889
,and that the same has not been amended or repealed.
DATED 12/20/84
(seat)
City Clerk
CC-660
MEMORANDUM OF UNDERSTANDING BETWEEN THE
CITY OF CHULA VISTA AND GARDNER. INVESTMENT PROPERTIES
RELATIVE TO THE CHULA VISTA WOODS SUBDIVISION (TRACT #84-13)
THIS MEMORANDUM OF UNDERSTANDING made and entered into this 18th
day of December , 19 84 , by and between the CITY OF CHULA V IST A,
hereinafter referred to as ~TY" and GARDNER INVESTMENT PROPERTIES,
herei nafter referred to as the "DEVELOPER" is understood and agreed to all
parties as follows:
WHEREAS, the Ci ty of Chul a Vi sta has approved tentative subdivi si on
map 84-13 for Chula Vista Woods; and,
WHEREAS, various forms of assistance have been provided to the
subdivi sian by the City in order to enhance the affordability of the
subdivision's housing units, including tax-exempt mortgage revenue bond
fi nanci ng; and
WHEREAS, in consi derati on of the vari ous approval s granted by the
City, the Developer has expressed willingness at the public hearing for the
subdivision's tentative map approval to provide certain mechanisms to prevent
speculation in home purchases in the subdivision.
It is mutually agreed and understood that each purchaser of a
home in the Chula Vi sta Woods Subdivi sion will be required by the Developer or
his agents to sign an affidavit of intent which states that:
1. The Mortgagor intends to occupy the home as hi s or her pri nci pal
si dence wi thi n not to exceed sixty (60) days after fi na 1 cl osi ng.
2. The Mortgagor intends to maintain the home as his or her
pri ncipal residence for not 1 ess than two (2) years.
Sai d affi davi t to be mai ntai ned by the Developer and availabl e for
i nspecti on by the Ci ty Manager or his or her desi gnees for a peri od of not
less than three (3) years after the sale of the home purchased.
IT WITNESS WHEREOF the parties hereto have caused this Memorandum of
Understandi ng to be exec uted the day and year fi rst herei nabove set forth.
Said agreement shall remain in effect until all homes in the subdivision have
been sold by the Developer.
CITY OF CHULA VISTA
OCITYAv- J (2
Gregory R. ~yor .tf«
PROPERTI ES
APPROVED AS TO FORM BY
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. )Ælomas' : aIr n,' lty Attorney
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WPC 1020X
R- 11889
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