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Home My WebLink AboutRDA Packet 1998/03/03 Tuesday, March 3, 1998 Council Chambers 4:00 p.m. Public Services Building (immediately following the City Council meeting) Regular Joint Meeting of the Redevelopment Agency/City Council of the City of Chula Vista CALL TO ORDER 1. ROLL CALL: Agency/Council Members Moot -' Padilla -, Rindone -' Salas -' and Chair/Mayor Horton - CONSENT CALENDAR ( Items 2 through 4 ) (Will be voted on immediately following the Council Consent Calendar during the City Council meeting) The staff recommendations regarding the following item listed under the Consent Calendar will be enacted by the Agency by one motion without discussion unless an Agency member, a member of the public or City staff requests that the item be pulled for discussion. If you wish to speak on one of these items, please fill out a "Request to Speak Form" available in the lobby and submit it to the Secretary of the Redevelopment Agency or the City Clerk prior to the meeting. Items pulled from the Consent Calendar will be discussed after Action Items. Items pulled by the public will be the first items of business. 2. APPROVAL OF MINUTES: February 17, 1998 3. COUNCIL APPROVING AMENDMENT TO ROLE AND FUNCTIONS OF RESOLUTION 18918 THE TOWN CENTRE PROJECT AREA COMMITTEE--On AGENCY 3/16/93, the Agency revised the role and functionsofthe Redevelopment RESOLUTION 1570: Project Area Committees. With that action the Town Centre Project Area Committee (TCPAC) ceased to operate as a State-mandated Project Area Committee under the Health and Safety Code, but continued to exist and operate as an advisory group to the Council/Agency regarding redevelopment and parking. An amendment to the Town Centre I Redevelopment Plan currently underway will include extension of the Agency's existing entinent domain authority. Following adoption of that Amendment, the TCPAC will need to operate again within the requirements of the Health and Safety Code. Staff recommends approval of the resolution. (Community Development Director) 4. RESOLUTION 1571 APPROVING THE IMPLEMENTATION OF A REISSUED MORTGAGE CREDIT CERTIFICATE PROGRAM (RMCC); WAIVING THE CONSULTANT SELECTION PROCESS TO AUTIIORIZE STAFF TO NEGOTIATE AN AGREEMENT WITH AFFORDABLE HOUSING APPLICATIONS, INc. TO ADMINISTER TIlE RMCC PROGRAM; AND APPROPRIATING $2,000 FROM THE MORTGAGE CREDIT CERTIFICATE REVENUE ACCOUNT FOR START-UP COSTS FOR THE RMCC PROGRAM--On 11/18/97, the Agency/Council authorized the application for Mortgage Credit Certificates (MCC). Since the inception of the MCC program in 1991. approximately 372 MCC certificates have been issued. With the decline in mortgage interest rates and an increased demand from MCC holders to refinance, staff Agenda -2- March 3, 1998 is recommending implementing a Reissued Mortgage Credit Certificate (RMCC) program which will allow current MCC holders to refinance their original mortgage loan and still maintain the tax benefits of the MCC. Staff recommends approval of the resolution. (Community Development Director) 4/5tbs Vote Required. . . . END OF CONSENT CALENDAR' . . ADJOURNMENT TO CITY COUNCIL MEETING ORAL COMMUNICATIONS This is an opportunity for the general public to address the Redevelopment Agency on any subject matter within the Agency's jurisdiction that is not an item on this agenda. (State law, however, generally prohibits the Redevelopment Agency from taking action on any issues not included on the posted agenda.) If you wish to address the Agency on such a subject, please complete the "Request to Speak Under Oral Communications Form" available in the lobby and submit it to the Secretary to the Redevelopment Agency or City Clerk prior to the meeting. Those who wish to speak, please give your name and address for record purposes andfollow up action. PUBLIC HEARINGS AND RELATED RESOLUTIONS AND ORDINANCES The following items have been advertised and/or posted as public hearings as required by law. If you wish to speak to any item, please fill out the "Request to Speak Form" available in the lobby and submit it to the Redevelopment Agency or the City Clerk prior to the meeting. 5. PUBLIC HEARING: AMENDMENT OF THE SPECIAL LAND USE PERMIT FOR THE ESTABLISHMENT OF THE MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD DATED MARCH 19, 1996 TO EXTEND TIlE PERMIT --In 1996, the Agency approved an Owner Participation Agreement and amendments to the OPA and Special Use Pennit for the development of a trash transfer facility at 1855 Maxwell Road. John Sexton Sand and Gravel Corp. is unable to pursue the project and is requesting an additional extension of the OPA and Special Use Permit in order to allow time to sell the project to a qualified developer. Staff recommends approval of the resolutions. (Community Development Director) a) RESOLUTION 1572: AMENDING A SPECIAL LAND USE PERMIT FOR THE ESTABLISHMENT OF A MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD WITIIIN THE OTAY VALLEY REDEVELOPMENT PROJECT AREA DATED MARCH 19, 1996 TO EXTEND TIlE PERMIT b) RESOLUTION 1573: APPROVING THE SECOND AMENDMENT TO TIlE OWNER PARTICIPATION AGREEMENT WITH JOHN SEXTON SAND AND GRAVEL CORPORATION DATED MARCH 19, 1996 FOR - . .. - Agenda -3- March 3, 1998 TIlE DEVELOPMENT OF A TRASH TRANSFER FACILITY AT 1855 MAXWELL ROAD WITHIN TIlE OT A Y V ALLEY ROAD REDEVELOPMENT PROJECT AREA EXTENDING THE EFFECTIVE DATE OF TIlE AGREEMENT FOR TWO YEARS TO MARCH 17, 2000 ITEMS PULLED FROM THE CONSENT CALENDAR This is the time the Redevelopment Agency will discuss items which have been removed from the Consent Calendar. Agenda items pulled at the request of the public will be considered prior to those pulled by Agency Members. OTHER BUSINESS 6. DIRECTOR/CITY MANAGER'S REPORTlS) 7. CHAIR/MAYOR'S REPORT(s) 8. AGENCY/COUNCIL MEMBER COMMENTS ADJOURNMENT The meeting will adjourn to a closed session and thence to the Regular Redevelopment Agency Meeting on March 17, 1998 at 6:00 p.m., immediately following the City Council meeting, in the City Council Chambers. ********** CLOSED SESSION Unless Agency Counsel, the Executive Director, or the Redevelopment Agency states otherwise at this time, the Agency will discuss and deliberate on the following item(s) of business which are permitted by law to be the subject of a closed session discussion, and which the Agency is advised should be discussed in closed session to best protect the interests of the City. The Agency is required by law to return to open session, issue any reports of.fi!1gl action taken in closed session, and the votes taken. However, due to the typical length of time taken up by closed sessions, the videotaping will be terminated at this point in order to save costs so that the Agency's return from closed session, reports of.fi!1gl action taken, and adjournment will not be videotaped. Nevertheless, the report of final action taken will be recorded in the minutes which will be available in the Office of the Secretary to the Redevelopment Agency and the City Clerk's Office. Agenda -4- March 3, 1998 9. CONFERENCE WITH REAL PROPERTY NEGOTIATOR - Pursuant to Government Code Section 54956.8 a. Property: 760 Broadway (Parcel Nos. 571-200-13, 14, 15, 16, and 17) Negotiating Parties: Redevelopment Agency (Chris Salomone) and Broadway Village Business Homes, LP. Under Negotiations: Price and terms for disposition b.!. Property: Assessor's Parcel Nos. 565-310-09 and 25; and 567-011-04 Negotiating Parties: Redevelopment Agency (Sid Morris/Chris Salomone), and San Diego Padres Under Negotiations: Price and tenus for disposition Property: Assessor's Parcel Nos. 565-010-30; and 567-011-05 Negotiating Parties: Redevelopment Agency (Sid Morris/Chris Salomone), Pearl Development (owner), and San Diego Padres Under Negotiations: Price and tenus for acquisition/disposition 2. Property: Assessor's Parcel Nos. 760-048-03, 06 through 08, 16, 17, and 50 through 55 Negotiating Parties: City and Redevelopment Agency of Chula Vista (Sid Morris/Chris Salomone), Port District (owners), and San Diego Padres Under Negotiations: Price and tenus for acquisition/disposition 3. Property: Assessor's Parcel Nos. 760-048-05 (portion of), 12, 15, and 59; and 571-330-13, and 17 (portion of) Negotiating Parties: City and Redevelopment Agency of Chula Vista (Sid Morris/Chris Salomone), Port District and B.F. 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Á.,11qe Jno 6U1AJaSaJ Jo swJa:¡ u1 anss1 aauBu1J pue 1e6a1 e S,.I 's.~aÇoJd as04. a~ueu1, o. anss1 Áew aM .e4~ suo,.e6,1qo .qap ~ a6ed 8661 'L 1 ÁJenJqa~ sa~nu1W - . . - JOINT REDEVELOPMENT AGENCY/COUNCIL AGENDA STATEMENT Item ~ Meeting Date 03/03/98 ITEM TITLE: COUNCIL RESOLUTION /'F?~/r! AGENCY RESOLUTION 15'70 APPROVING AMENOMENT TO ROLE AND FUNCTIONS OF THE TOWN CENTRE PROJECT AREA COMMITTEE SUBMITTED BY: c.~"";~ D.~I.pm.. ~'), REVIEWED BY: Executive Director JG. (4/5ths Vote: Yes- No_X.J . -:? BACKGROUND: On March 16, 1993, the City Council and Redevelopment Agency revised the role and functions of Redevelopment Project Area Committees, With that action, the Town Centre Project Area Committee (TCPAC) was converted from a State of California mandated Project Area Committee under the Health and Safety Code to a local advisory group to the Council/Agency regarding redevelopment and parking, An amendment to the Town Centre I Redevelopment Plan is currently underway which will include extension of the Agency's existing eminent domain authority; and since the Town Centre I Project includes low- and moderate-income residential units, a conservative reading of State law suggests that the TCPAC should again operate more formally within the requirements of the Health and Safety Code for at least three years following adoption of the Amendment. An amendment to the existing TCPAC role and functions to meet the requirements of the Health and Safety Code is being recommended at this time (See Exhibit "A" to resolution), The amendment provides for a voting process whereby project area residents would elect representatives of the project area's residential population to fill existing vacancies on the TCPAC, RECOMMENDATION: That the Agency adopt a resolution approving the amendment to the Town Centre Project Area Committee role and functions in accordance with Exhibit "A", BOARDS/COMMISSIONS RECOMMENDATION: On February 10, 1998, the Town Centre Project Area Committee voted unanimously to recommend that the Redevelopment Agency adopt the proposed changes to the Town Centre Project Area Committee role and functions as presented on Exhibit "A", DISCUSSION: The Town Centre Project Area Committee (TCPAC) was established in 1976 when the Town Centre I Redevelopment Project was formed and has functioned as the mandated PAC for both the Town Centre I Redevelopment Project and the Town Centre II Redevelopment Expansion Areas, [If a Redevelopment Plan containing eminent domain authority is established where a number of low- or moderate-income persons .3- I Page 2, Item .3 Meeting Date 03/03/98 reside, a PAC must be formed and all groups (i,e, residents, property owners) must be adequately represented for at least a three'year period following establishment of such a project area,] The role and functions of the TCPAC were revised in 1993 to reduce their scope and authority as part of the City's Permit Streamlining efforts, The Agency chose to retain the Town Centre PAC to evaluate discretionary land use permits and serve as an advisory board to evaluate the appropriateness of project proposals relative to the Town Centre I and II redevelopment efforts, The TCPAC also has continued to function as the Parking Place Commission, Now that the Town Centre I Redevelopment Plan is being reviewed for amendment which will include the extension of the current eminent domain authority as well as other administrative time elements, staff is recommending that the TCPAC role and functions again be revised to conform with the requirements of the Health and Safety Code (the Code), The Code states that a PAC must be formed if a substantial number of low-income or moderate,income persons, or both, reside within the project area, and the redevelopment plan as adopted will contain eminent domain authority, The Code also states that procedures for the formation of the PAC shall be adopted by resolution and should include an election process, In this case the Agency is not adding eminent domain authority for the first time, but merely extending the authority along with the extension of the life of the project area, Furthermore, while the formal State mandated PAC was replaced back in 1993 with the existing TCPAC, the TCPAC has continued to function in most ways as a traditional State law governed organization, In light of these unique circumstances, staff is proposing the following changes to the existing TCPAC, The current seven-member TCPAC has five seats filled by business and property owners, Residents as a group are not represented, The proposed amendment to the Committee's role and functions would provide for an election to fill the two currently vacant seats with Town Centre residents for at least the three'year term required by the Health and Safety Code, In addition, this process will provide adequate opportunity to the residents within the Project Area to be represented in accordance with the provisions of the Code, The City Attorney's office and RDA special legal counsel have determined that this approach should satisfy the Health and Safety Code requirements on PAC formation, The tentative schedule for the election of two residential members to fill the current TCPAC vacancies, if the Agency adopts staff's recommendation is: March 6, 199B: Mail notices of election to all property owners, residents and tenants March 7, 199B Publish notice of election in local newspaper March IB, 199B TCPAC election FISCAL IMPACT: Staff does not anticipate significant financial impact from the proposed amendment to the TCPAC role and functions, Costs associated with the notices is estimated to be $300 and can be absorbed by the Community Development Department public notice budget. (PBI H,IHOMEICOMMOEVISTAFF.REP\O.3.03.BBIROlEFUNC.PAC [Fob"", 24. 199B (10,27amll 3-d- AGENCY RESOLUTION NO. 1:S Î 0 and COUNCIL RESOLUTION NO. I' fi'c¡ I g JOINT RESOLUTION OF THE CITY COUNCIL AND THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING AMENDMENT TO ROLE AND FUNCTIONS OF TOWN CENTRE PROJECT AREA COMMITTEE WHEREAS, an amendment to the Town Centre I Redevelopment Plan is currently underway which will include extension of the Agency's existing eminent domain authority in the Town Centre I and the Town Centre I Redevelopment Project includes low- and moderate-income residential units; and, WHEREAS, if a Redevelopment Plan containing eminent domain authority is established where a number of low- or moderate-income persons reside, the California Health and Safety Code requires that a Project Area Committee be formed and all groups be adequately represented for at least a three-year period following establishment of such a project area; and, WHEREAS, the current Town Centre Project Area Committee ("TCPAC") serves as an advisory board to the City Council and Agency to evaluate discretionary land use permits and the appropriateness of project proposals relative to the Town Centre redevelopment efforts and functions as the Parking Place Commission; and, WHEREAS, the current seven-member TCPAC has two vacant seats and residents as a group are not represented. WHEREAS, in order to comply with State Law, City/Agency staff has proposed that certain amendments be made to the TCPAC in order to solicit involvement in the TCPAC by residents of the Town Centre I Project Area, NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency and the City Council of the City of Chula Vista does hereby approve an amendment to the role and functions of the Town Centre Project Area Committee attached hereto as Exhibit "A" to provide an opportunity for all groups within the Town Centre I Redevelopment Project Area to be represented on the Project Area Committee in accordance with the California Health and Safety Code. Presented by Approved as to form by r~ ~- Chris Salomone Director of Community Development IIPB) H,\HOME\COMMDEV\RESOS\PACROLE.RES )F,b""" 25. 199B !B""mll .3 ~3 - - EXHIBIT A Proposed Amendment TOWN CENTRE PROJECT AREA COMMITTEE PURPOSE The Town Centre Project Area Committee (TCPAC) serves as a local redevelopment project review advisory body, Members are appointed by Council to represent business owners, business tenants and residents from within the Project Area and serve as a resource to advise and provide comments on redevelopment matters affecting the Town Centre I and II Redevelopment Project Areas, The TCPAC is no longer operating under the State of California mandated responsibilities for Project Area Committees under Health and Safety Code Sections 33385 through 33388, ROLE AND FUNCTION The TCPAC reviews all projects requiring discretionary land use approvals by the Redevelopment Agency and/or City Council through Conditional Use Permits/Special Permits, Zone Changes and other land use permits as specifically allowed pursuant to the Town Centre I and II Redevelopment Plans and the Town Centre Procedures Manual. Projects that do not require discretionary approval by the Agency or Council and/or those that can be approved "administratively" as set forth in the Municipal Code (e,g, a non-discretionary site plan review) are not to be reviewed by the TCPAC. In addition, Variances are not to be reviewed by the TCPAC unless it is included as part of a project that requires a discretinary land use approval as described above, Variances will be handled "administratively", and those variances that cannot be decided administratively, will be forwarded directly to the Redevelopment Agency, The primary role of the TCPAC is to evaluate projects brought before them in terms of overall land use appropriateness, general economic impact of land use changes, and related planning and zoning issues, The TCPAC is to receive and review the project site plan and all applicable materials submitted to the City in support of the development application including the respective environmental documents, However, the review of the environmental documents (Environmental Impact Reports or Negative Declarations) is to use them as tools for evaluating the project, and not to review them in terms of the adequacy of the document itself, The TCPAC will also continue their role as the Parking Place Commission, It shall review parking improvements, procurement, regulations, fee structure, enforcement, and revenues and expenditures related to the parking facilities provided in the Town Centre I project area, As the Commission, they will forward recommendations to the Redevelopment Agency/City Council as appropriate, In addition to all of the above, a final secondary role is to also evaluate project characteristics relative to the site plan, or "site specific" issues related to safety such as pedestrian/traffic safety, internal traffic patterns/circulation, parking, lighting, notice, signage, and drainage, A more focused review of the above stated issues along with all environmental impacts and building design/aesthetics will be performed by the RCC and Design Review Committee (DRC) respectfully, Landscaping is to be reviewed and approved by the City's Landscape Architect, ...3 - c./ -. . - TOWN CENTRE PROJECT AREA COMMITTEE Page 2 All TCPAC members, upon appointment, are scheduled for indoctrination about the scope of their role and function both in terms of the overall function of the redevelopment process, and the specific goals of the development within theTown Centre Redevelopment Project Area, The Role and Function description will be incorporated in the updated Boards and Commissions Handbook, PROCESS Upon completion of the environmental review process by staff, the project is presented to the TCPAC, The project, along with all TCPAC comments, is then presented to the RCC for review and adoption of the environmental document, Then the project, with all cumulative comments, is reviewed by ORC for approval of the site and building plans, Finally, all cumulative comments and any conditions of approval imposed by the RCC and ORC, are forwarded to the Agency and/or City Council for final project approval. H :IHomelComm Oevl TCPACIExhibit, a 3-S- REDEVELOPMENT AGENCY AGENDA STATEMENT Item -.d Meeting Date .31D..319..8. ITEM TITLE: RESOLUTION ¡57 ( APPROVING THE IMPLEMENTATION OF A REISSUEO MORTGAGE CREOIT CERTIFICATE PROGRAM (RMCC); WAIVING THE CONSULTANT SElECTION PROCESS AUTHORIZING STAFF TO NEGOTIATE AN AGREEMENT WITH AFFOROABLE HOUSING APPLICATIONS, lNG, TO AOMINISTER THE RMCC PROGRAM; ANO APPROPRIATING $2,000 FROM THE MORTGAGE CREDIT CERTIFICATE REVENUE ACCOUNT FOR START-UP COSTS FOR THE RMCC PROGRAM SUBMITTED BY: C~m"""y D."I."",. D;.'~ '3 - REVIEWED BY: Executive Oirector~G ~ -7 (4/5ths Vote: Yes.L No_) BACKGROUND: On November 18, 1997 a joint resolution of the City Council and Redevelopment Agency authorized the Community Development Department to submit an application to the California Debt limit Allocation Committee (CDlAC) for an allocation of Qualified Mortgage Revenue Bonds for conversion into Mortgage Credit Certificates (MCC) and assigned the MCC allocation to the Redevelopment Agency to administer, The MCC program was authorized by Congress in the Tax Reform Act of 1984, as an alternative to mortgage revenue bond,backed financing as a tool for providing home ownership assistance to lower income households, MCCs are an allocation of Private Activity Bonds which are converted to Mortgage Credit Certificates according to a federal conversion ratio required by the Tax Reform Act of 1986, Since the inception of the MCC program in 1991, the City has received $30,844,333 in Mortgage Revenue Bonds, which converted into MCCs equals approximately 372 certificates which have been used to assist first-time home buyers in the City of Chula Vista, In 1997, Chula Vista received an allocation of $1, 187,540 which assisted 15 firsHime home buyers and generated approximately $2 million in real estate activity, In 19B8, Chula Vista expects to receive an allocation of approximately $660,000 which will assist approximately 8 first-time home buyers, Along with the decline in MCC allocation, the mortgage interest rates have dropped thereby increasing the purchasing power for first-time home buyers, The decrease in interest rates have created a demand for MCC holders to refinance their mortgage for more favorable rates, Under the guidelines for the current MCC program, this creates a problem since refinancing the original mortgage voids the MCC and the home buyers lose the benefit of the tax credit. Therefore, Council is requested to approve implementation of a Reissued Mortgage Credit Certificate (RMCC) program which will allow for MCC holders to refinance their loans and receive a reissued MCC, 4 - ( -. ... Page 2, Item 3 Meeting Date 3/03/98 RECOMMENDATION: That the Redevelopment Agency approve implementing a RMCC program; waiving the consultant selection process authorizing staff to negotiate an agreement with Affordable Housing Applications, Inc, to administer the RMCC program; and appropriating $2,000 from the Mortgage Credit Certificate revenue account BOARDS/COMMISSIONS RECOMMENDATION: The Housing Advisory Commission supports implementation of the Reissued Mortgage Credit Certificate program, DISCUSSION: Until recently, home owners with MC:C:s who refinanced their loans could no longer claim the tax credit, thus losing the financial advantage that enabled them to afford their homes, This loss of the MC:C: was particularly difficult for home buyers who originally took a variable rate mortgage in order to qualify for a loan, In December 1996 the IRS finalized regulations to allow local agencies to reissue MCCs to home owners who refinance their existing MC:C: loan and continue to live in the home, This reissue program is known as the Reissued Mortgage Credit Certificate (RMCC) program, A major benefit of establishing a RMC:C: program is that it will increase the affordability of the housing payments for existing MC:C: home owners, It could also potentially help prevent some home owners from going into default on their loans, Because an MCC holder must continue to occupy his/her home to qualify for the RMC:C:, it may create an incentive for home buyers to remain in their homes, The RMCC program should benefit a substantial number of MC:C:-assisted home owners who have refinanced at any time since the MCC program began, and anyone who refinances in the future, Selection of Consultant Existing staff is not able to absorb the additional program administrative duties and do not have the requisite knowledge and expertise, Affordable Housing Applications, Inc, (AHA) is one of three RMC:C: program administrators in the state and is the only housing consultant located within San Diego County and Drange County with the qualifications necessary to successfully implement and administer a RMCC program, As a result, staff is requesting waiving the consultant selection process to select AHA to administer the RMC:C: program, Section 2,56,070 of the Chula Vista Municipal Code allows the city to waive the normal consultant selection process if it is impossible or impractical to bid through the competitive process. Staff believes that it is impractical to bid the contract due to AHAs unique qualifications associated with the RMC:C: program, AHA successfully implemented and administers a RMCC program for the County of Orange, AHA will be responsible for providing the City of Chula Vista with the following: 0 Forms and Documents, All necessary processing forms, RMCC documents, certificates and affidavits will be designed and provided to MC:C: holders and lenders, 0 Information and Marketing Materials, AHA will provide marketing materials which will include general information about RMCCs; illustrations of how the RMCC program works; 4-d-. - - Page 3, Item 3 Meeting Date 3/03/98 answers to the most frequently asked questions about the program, underwriting instructions for the lenders, and a list of lenders participating in the RMCC program, 0 Record Keeping, Tracking and Reporting System, AHA will set up a Windows-based software package to store, track and report on all aspects of the City of Chula Vista RMCC program, All information will be available in an organized and comprehensive format. 0 RMCC Processing, AHA will process all paperwork in conjunction with the loan refinancing, The MCC holder will obtain a lender from the City of Chula Vista's participating lender list and proceed with the loan refinancing paperwork, The lender will submit to AHA the RMCC documents for processing, AHA will review the documents for compliance with IRS regulations and the City of Chula Vista RMCC program policy, Upon completion of the review process, if the applicant has complied with all program guidelines, a Reissued Mortgage Credit Certificate will be issued to the home owner, 0 lender Participation and Training, Only lenders enrolled in the current MCC program for the City of Chula Vista will be eligible to participate in the RMCC program, However, all lenders are encouraged to participate in the MCC and RMCC program, The enrolled lender will be required to execute a RMCC lender Participation Agreement; pay an annual enrollment fee for RMCC training and materials; and designate one representative from the company's compliance division to participate in the initial RMCC training session and take responsibility for providing RMCC training for additional employees of the company, 0 Reporting and Accounting, AHA shall maintain accurate files and records including RMCC processing files and participating lender files, In addition, AHA will monitor and complete all IRS reporting requirements, The initial startup fee required by Affordable Housing Applications, Inc, is $2,000, This fee will be used to create the RMCC program specifically to suit the City of Chula Vista's needs and requirements, including specialized application forms and documents, database, marketing materials, and access to special tax counsel, After the initial fee, AHA will charge a $500,00 fee to applicants applying for an RMCC, AHA will process the fee to be distributed as follows: $250 to the City of Chula Vista and $250 to AHA for processing services, With approximately 372 MCCs issued by the City of Chula Vista since the inception of the program in 1991, the RMCC program could generate over $70,000 in revenue to the City if each MCC recipient chose to refinance, Specialized Application Forms and Documents Attached as Exhibit A are the RMCC informational materials and forms that have been developed for the County of Orange RMCC program, The informational materials were developed by AHA and the forms were developed by Stradling Vocca Carlson & Rauth, the same special tax counsel utilized by the City of Chula Vista, The attached RMCC packet will be substantially similar to the packet that will be provided for the City of Chula Vista RMCC program, Final forms will be tailored to Chula Vista, reviewed and approved as to form by Community Development staff and the City Attorney's office, 4-3 -. ..- Page 4, Item -.::l Meeting Date 3/03/98 FISCAL IMPACT: The $2,000 required to initiate the start-up of the program is available in the Mortgage Credit Certificate revenue account 993-3795, The fund accumulates fees collected from MCC applicants and lenders participating in the MCC program, This $2,000 fee will be offset by revenues collected from applicants and lenders participating in the Reissued Mortgage Credit Certificate program, Attachement: Exhibit A - RMCC Program Documents (County of Orange) IJf} H:IHOMEICOMMOEVISTAff.REPIO3.03.98IRMCC.113 [fab"", 25,1998 (2:05pmll 4-4 RESOLUTION NO. /57 I RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING THE IMPLEMENTATION OF A REISSUED MORTGAGE CREDIT CERTIFICATE (RMCC) PROGRAM; WAIVING THE CONSULTANT SELECTION PROCESS AUTHORIZING STAFF TO NEGOTIATE AN AGREEMENT WITH AFFORDABLE HOUSING APPLICATIONS, INC. TO ADMINISTER THE RMCC PROGRAM; AND APPROPRIATING $2,000 FROM THE MORTGAGE CREDIT CERTIFICATE REVENUE ACCOUNT FOR START-UP COSTS FOR THE RMCC PROGRAM WHEREAS, on November 18, 1997 a joint resolution of the City Council and Redevelopment Agency authorized the Community Development Department to submit an application to the California Debt Limit Allocation Committee (CDLAC) for an allocation of Mortgage Revenue Bonds for conversion into Mortgage Credit Certificates and assigned the MCC allocation to the Redevelopment Agency to administer; and WHEREAS, the MCC program was authorized by Congress in the Tax Reform Act of 1984, as an alternative to mortgage revenue bond-backed financing as a tool for providing home ownership assistance to lower income households; and WHEREAS, since the inception of the MCC program in 1991, the City has received $30,844,333 in Mortgage Revenue Bonds, which converted into MCCs equals approximately 372 certificates which have been used to assist first-time home buyers in the City of Chula Vista; and WHEREAS, staff is requesting waiving the consultant selection process to select Affordable Housing Applications, Inc. to implement and administer the Reissued Mortgage Credit Certificate program for the City of Chula Vista. Section 2.56.070 of the Chula Vista Municipal Code allows the city to waive the normal consultant selection process if it is impossible or impractical to bid through the competitive process. In this case, it is impractical to pursue the normal consultant selection process since AHA is uniquely qualified with extensive knowledge and expertise in implementing and administering a RMCC program. NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency of the City of Chula Vista does hereby find, order, determine, and resolve to 1) approve implementation of a RMCC program for the City of Chula Vista; 2) waive the consultant selection process in light of the recitals set forth above, authorizing staff to negotiate an agreement with Affordable Housing Applications, Inc. to implement and administer the RMCC program for the City of Chula Vista, which such agreement will be brought back to the Redevelopment Agency for final approval; and 3) appropriate $2,000 from the Mortgage Credit Certificate revenue account for start-up costs associated with the RMCC program. BE IT FURTHER RESOLVED that the Redevelopment Agency authorize staff and the City Attorney's office to review and approve as to form all RMCC documents which are substantially similar to the County of Orange RMCC program. Final forms will be developed by AHA, reviewed and approved as to form by staff and the City Attorney's Office to be used for Chula Vista's RMCC program. pre(!;:y (. J;~ ~ Chris Salomone Director of Community Development (JF) M'\HOME\COMMOEVlRESOS\RMCCHES(Februa'Y 25.1998 (',52pm)] 4-,5.- EXHIBIT A County of Orange REISSUED Administered By: -~- Affordable Housing Applications, Inc, MCC Program ~ .. - 9620 Chesapeake Drive, Suite 101 Program Office: (714) 547-1600 San Diego, California 92123 aha! Phone 619,292,3300 Fax 619,292,5199 ;;"..:O¡¡;REFINANCING ALLOWED FORMCCHOLDERS! "~,:tc",>.".":.,'c,:"'.."q";-""",,,,,,"j,,,., ,,';',"""",""".t, /, ""'1~' '~I County of Orange Announèes Relssued'MCC Program:,.' ';"L ",', ,i""',,.', I"".... Under a program which began September 1, 1996, home owner;> ,who hold.a..,valid , Mortgage Credit Certificate (MCC) issued by the County of Orange' iTIay'bé!àblè'to , refinance their original first mortgage without losing their MCC tax credit. Prior to this . " -;:. ; ';,progral'!1, ,the ~older, of a MCC .would Jose the special tax. credit upon refinancing the , "'~¡MCC~rèlàiédïòån," "Tò'bèeligible'.' both"thê;¡oÎd" aÌ1d"newl:"(ieP1åce'menifIòans 'ríìÜst 'f11eet, certain conditioñs'årîdlhe; f~rîdÚl¡nen~êr ofthenew loan,mustênfoll and'¡Ék:eive training in the County's new Reissued Mortgage Credit Certificate (RMCC) Program, .' There are no income restrictions for the applicant, but many conditions regarding the !h~fjiiahCi¡{g'n,ust¡;e;rnet.:'Firsf' ilÌ~"i:ipplicantmUst showproo(ôf'ownership of a 'rridrtgagecredit certificate Issued bythÊiCo'únty Ot Orange,'Thesubject property rriÜst have continually been the principal residence of the applicant sinc~' the 'dosing of the .' ,original first mortgage, The vesting of title. of the original loan and that of the ¡¡:epl~êernent 'iöan'-inust 'be~exact1ý '.ih~~';:;arne,-1, .'The:.appIiè~âl1t "rnUS!,"Sign";RMCC application documents and pay'å $300 non-refundableappliêåtion'fee'($50 i to the lender and $259 ,to the Coul)ty ofOrang~)",The total potential dollar benefit of the reissued MCC is restricted só'that it does not exceed the total dollar benefit that would have been received under the original MCC, ,,", ,'J,,',)q:",,:: ..',1./",."".'"" ',.'" ". ,,',"... '~, .... '" ,f"':i", "";"r,"""":"",;..,c" ""'.,'~"'O"""'+",;'",.... ..,'o.,',. ,JJie Fundinglericlt;!(mùstjoin ~heRMCCþrogram;þåyá $150 .annual, RMCC Program .. ". . :-'àppÌiéátion,Jeê;"ánd' lec:e¡,rÈ{ RMCC 'þ'r'ogfam' training"before" silbmitting 'an RMCC """"""""""""",..,"""""""",'""",",,",,'. ,""""".."',',' ""F'V" ", ,'app,I!~~~i<?n:;), Thifc~p:,be, aè~°rJlpl!~hed, )f>'~II~;t,~y cHent:s'rMq~-telat~,d)9~P:J~ 'Þ'7ir9 refinançed,..Thefundmg Lenderl)1ustaIsoþe-enrolled,1n Orange Countý's'Mortgage Credit Certificäte'prog'råm,"'--:"?LL"","~ :d:".'1;\.'!'" -,',,; :'"i:Q ',cd:; ..):';)""" "",;",Cj q f.', .:" "T.~~!';\~gp rf'Fggra[11, ,9?e~ rot pr~hi~iJntþ,~ ,~H~!ic.antfrc>rp, bo~ro'(>'irg ar amolJf)~)Nhich 1 ,E7~,c~~d~, "ith~:¡:>r\n9ip~!, '9~!ancE:!,';:ór,t~ë~;,c>,rjg,i~al,; 10al1 :V'Q\~h is, 'pôJiq : c>ffw~~r:.. t~e ,replacement,loar, ,closes, However, saf~guards are ,~ntte:n mtothl? prograln)o,E:!l1slJre 'thafthë tot'aldollar benefit of thÉ{ RMCCihåñy onetaxyear'does not exc:eedthê'total (potential) dollar benefit of the original MCC in that sà'me'year.' Thepro'grä'm administrator completes a table which calculates the maximum tax credit per year which th'e'ä'pplicant is allowed to)akeunder the '3MCC, , The appHcant.rec:eivesthe }able which becomes an attachment to the RMCC,Thè expiration of the RMCC Is the same month and year as the expiration of the original first mortgage to which the original MCC was connected, RMCC Brochure Rev, 2/98 Page 1 of2 4-(P .. . , - " , -", J; ,',', " The new RMCC program is open to all funding lenders-not brokers-who are enrolled in the MCC Program, The program administrator, Affordable Housing Applications, Inc, (AHA) acts on behalf of the County of Orange in enrolling and training lenders, and processing;theRMCC"applications,::' U~nders It\Ih~ wish to join the program should contact AHA at (714) 547-1600, There is a$150 annual enrollment fee for participating lendingcompàiiie's,"""""",."",;,>..:"o';;';,f" ',.., X;,f,'",' " RMèêiSEQÙENèì::'J, , -" ^ " ,," ",' c" "," '", ',c,:¡'" :;'cd,) ,,: r';","""il"f',;i""'1"-'Y":""'i""""','pic"';,1""";"':'..,"""",',"""""-,,' ",The fo'lIåJJi~gstèps ,èiëšcribethe -o¡.aerin'.~IÍ¡ëh'}a' Fünding Lender completes their first : ;refinancirigun'dedi1e'RMCC program; theseqUèlÌce of the steps is important.' , :'~:';, Obi¡ioúsly, 'olÌce,théfirst RMCC,~as,beeÌlcol11pleted, the ,Funding Lender calÌ:;kip steps2and3," _""","", '.."" "'," "";¡"";'Y"-----"-"""":"""-,..,,,:c,,.., ";'c""""-'.'c"... ,f....,.- "",~,..",.." :,1) FÙndlngLender agrees to refinance theprfginal first mortgage of anOrangeCöurlty 'MCC,holder::':'F~ncÍil1g Lender arid MCCholderCliscuss RMCC opportunity and~decide ,tôap~lyf~r'â,RMc;C':;¡r,,: :/;","'" ('o. ' dJ ,., ",e,"" L'c;t:-"-;:',,,,: :,.."f"),r',',, ,.. ,;, ","'..,-"f",' ¡,.,:."" 2) ,Funding Lender Êmrolls, in the' RMCC, Program, sending the County theexeè'uted ;'RMCC LenderÀgreementand application:feeof$150, ." "", .c,' ,.c" ,..','J',"',"""""""""""""'CO..'",..,"",v..".. ,,; , ' ,; , ',"" .. ,.'" , "," " "3) T~~'C9uptyapþroye~ Lef\ger~ppli?~ti~rl~~d p~ovid:S R~~C,training, 4) Funding Lender completes the "RMCC Preliminary Approval by Self-Certific~tion" ,form to determine program eligibility, If the transaction appears eligible, the Lender ~~ì.mderWrites the RefinarìcëLoan forthe'B-MCC by following the program formula on the "'r~vérse'"of 'the'\i3'elf-CertifiGatiôf\' '%hli,!!:,The' Lender ,gives"thè'Appliêant"ari"'RMCC ':'"","C,"'",.-,'h:"""">"",v'c"""""",,..,c ;"""'",'" Jrifo'rrnationþackage,inclúding:"1ILèhéfèrStatenient of Intention (to apply .for RMCC';" "for'applicàntattef close' 6f rkfi 16ân);2) -RMCC Summary For CoÌlsummers; and,' :5, " ':-; 3) Answers On Refinancinq Your MCC Loan," , ,',-,:,' :":5jFJgdi~~" L€¡;d~~¿d~p I~t~~ 'te.~'f\'ã'iiç;¡rigJ~nk¿diorî, 'ttíen compiles å~d~~bhi¡ts the 'formal RMCC application package to the County, Provided that the documents confirm ", , : 'I' , , ,'" , 'i ,,' '-,,",' "" "" '"" , ,,' , , , ". " ,:ëligibility. Jo.Uhe ,RM,CC., J.~~Có~~tý :i~~Uesthe R,MCC C~rt~ficate,,!,md, supporti,ng Ldocumentation,t9thêf\þþlicànt.' "\,~";¡\ "".,l " ,'" ,",' ,:",",' ':,J" !.., , , ',",'", , , , ,,' " ,'"y " " .. " " ' , 6) RMCC recipient, continues' taking annual tax credit, according to the Exhibit A 'document and tax instructions issued with the RMCC certificate, RMCC Brochure Rev, 2198 ' page20f4 - 7 - . Administered By: County of Orange REISSUED -~- Affordable Housing Applications, Inc. MCC Program ~ ", 9620 Chesapeake Drive, Suite 101 San Diego, California 92123 Program Office: (714) 547-1600 (018) aha.! Phone 619,292,3300 Fax 619.292,5199 Answers on Refinancing Your MCC Loan Questions and Answers on the Reissued MCC Program 1. Can I refinance and keep my MCC? Under new IRS regulations, the County (within certain limitations) can reissue an MCC to MCC Holders who refinance, The reissuance of an MCC is not automatic, You will need to apply through a Participating Lender, and the County cannot guarantee that any particular MCC Holder will be issued a new certificate, 2. What if my income has gone up? No problem, You do not need to requality under the income limits or the home purchase price limits, 3, I have married since I first got my MCC. Does that affect my eligibility? No, A change in marital status does not affect your eligibility for a Reissued MCC, However, the new Deed of Trust and Reissued MCC will be in your name only, shdwing your original name and any name change as a result of the marriage, 4. Can I refinance for more than the original loan amount or include closing costs in the new loan? Yes, The new loan can be for more than the remaining principal balance of the Old Loan, However, the new Certified Indebtedness Amount is limited to the outstanding balance 'of the Certified Indebtedness Amount of the Old Loan (the amount you still owe on the date of refinance), If your New Loan is for more than the Certified Indebtedness Amount, you will be provided with a percentage to be applied to your mortgage interest before figuring the federal tax credit. 5, What is the Certified Indebtedness Amount? The Certified Indebtedness Amount is that portion of your loan amount on which you calculate your federal income tax credit. Under the County's MCC Program, you can claim a tax credit of up to 20 percent of the interest you paid on the Certified Indebtedness Amount. In all cases with respect to original MCCs issued by the County program, the Certified Indebtedness Amount and the outstanding principal balance of your Old Loan are the same, If you get a Reissued MCC, the Certified Indebtedness Amount and the original principal amount of your New Loan may differ, The Lender will calculate for you the percentage difference, if any, between the New Loan amount and the new Certified Indebtedness Amount. Before you calculate your tax credit, you will have to multiply your total mortgage interest amount by that percentage, 6, How long is the Reissued MCC good for? The Reissued MCC is valid only until the date that the original loan was due, If you got a 3D-year loan in June 1990, your last payment would have been due 30 years later in 2020, If you refinance in 1999 with another 30-year loan, your last payment will be due in 2029 but the MCC will be valid only until June 2020, You will receive tax instructions regarding this, 7. How much will it cost me to apply? $300, Of this amount the lender collects $50 and $250 goes to the County of Orange, 8. Where can I go to refinance and get a Reissued MCC? To be eligible for a Reissued MCC, the refinancing must be done through a funding lender who has agreed to participate in the Reissued MCC Program, Any lender may participate in the Reissued MCC pr09ram if they are enrolled in the "regular" MCC program, they sign a Lender participation4reement and pay an annual fee to the County, -8' -. , - County of Orange REISSUED Adm;ni,'eced By: ...~- Affordable Housing Applications, MCC Program' ,'. , ", 9620 Chesapeake Drive, Suite 101 Program Office::(714) 547-1600 (064) San Diego, Califomia 92123 ;1h111 Phone 619,292,3300 Fax 619,292.5199 RMCC Requirements: A Summary For Consumers The RMCC Program provides a way for holders of existing Mortgage Credit Certificates (MCCs) issued,by. the County of Orange to refinance their original first mortgage, and still be able to take the tax credit. :'. . provided by the MCC, The following statements represent a simplified summary of the RMCC Program. requirements, and are offered as introductory material for the prospective RMCC applicant. For .a}.:}, . particular refinancing transaction to be eligible for a Reissued Mortgage Çredit Certificate (RMCC) froin: :0' " :::~::n:p:I:::::;eac;~fthefoIiOWingstatements~ust b~ true, . .' . 'è;"i~~{';::~.;:~~':' 1, ' The applicant for the RMCC holds, . and is able to' present to the County, an existing Mortgage Credit f,/',', ',' ' ,'certificate issùed by the County of Orange, '" ..,c,.":,,, ;-j'h:C:' , ",""c, ,c/"":'i:"þ:,:;:;::"R¥it':,¡ ..:' ;'; 2,' The applicant has lived in the subject property continually as a principal residence since the closing<, ' ' of the Old Loan, and has not changed the vesting (title) of the property since the purchase, ' 3, The applicant is aware that the $250 RMCC application fee is non-refundable, ' 4, The applicant is aware that the County of Orang~ cannot guarantee the applicant a RMCC, because, of the County's need to closely examine closing documents before a RMCC can be issued, Re: The New Loan, , 1, The financing of the New Loan is not Re: The Lender (of the New Loan) 1" The Lender is enrolled in the County of Orange's MCC Program, ,2, ,The Lender is enrolled in the County of Orange's RMCC Program, 3, The Lender is the funder named on the Deed of Trust and HUD-1 of New Loan, ,The Funding Lender submits all application materials to the RMCC Program Office and Applicant re~eivi~g, a full eXPlanation;~! the ~MC~~, ,Re:TheRMCCTaxCredit '. ,.," : ";', " ",', ~:. 1,': The term of the RMCC tax credit will endwith:thetermofthe Old Loan, not .o' "Loan, .. ,', " ,';..., . ",' . , Speciai instructions will be given' the applicant to ensure that the annual tax credit taken in , year under the RMCC will never exceed. the credit which would have been taken that year -..: Existing MCC, , ',' ;",' , !: , Other RMCC Facts ,-v'. ' 1, ' There are no income or purchase pricê limits for the RMCC Program, 2, The amount of the New Loan is allowed to exceed the amount of the principal balance of the Old Loan which is paid off at the closing of the New Loan, 3, The nine year recapture tax period triggered upon the closing of the Old Loan continues to be in , effect during and after the reissuance of the original MCC, and ends nine years after the closing of the Old Loan, 4, The number of refinancings by one MCC holder is unlimited, provided each transaction is approved and processed through the RMCC program, 4-9 -. ... "",:j;;I,<;l:'~;';:""';""" , "Administetedßy: , ,,",,',;, ¿tiC::Pld!:1,tX,PfOrange REISSUED MCC Program"" ,'",:.' '.:.., Affordable Housing Application's, Inc: , ",Pro ..m'J~~~~~~1¡~;f)%~Æ;~!I!¡~!~~r~~;¡~~~~,~~~.*~ " " '::~:::'~';¡;t~ i:;;~r(;;;~~~~'::j~;'~~'7::'Y':';'~~i \;;'t;;,',,',;~:,~:'~' ,;;'~:~;';J;" ;';~;:lìi.' :AN RMCC STORY """ M~etJh~'frieí1CirY'F~¡'ki~,JamilY: ':, Fred, "Franny, ,Frazier, ',,'i Fårìhy:'áìîdfiè';;tY,l.iít\è'F:rd~ Fårklê>:'Now;:Frecfiså'frugâl " ' ,', fellowwhowants;thEirbêstfôrhjÚ,"êfa'milý:¡'Sò\\íÍ1ënhé~,r ,~j,; , , ", found, their ",first 'home: in i fashionable'Fullerton',he'/Y';:: :' . ? 4~ f (trtiI~'ã ~ ~! ý!g' çf;J ~ :J~n.? ~~ ::'tV i~Î) -;ã}"l~ Ç.C, f¡it!: â~::Ye ã~ 'â f' tâ¥: ;~:i,§i'1ißj~ ¡< ' ,c, ' ", ":, time'" Franny,' Fergie, Frazier and finicky Iittle'Fido Farkle> " ,"',' ouldflock around Fred as he,announced that year's fabulous tax savings! Fred,'"" iIIJstìi~g'over.theirgood .,forti'ìriè,:wolJld W~'minê!,..the' Fàrkle..family~of ,what-he:!:';"':;; ,proudly 'called the Fabulous Farkle MCCFormula. ,," "Far-outl",they would l;ry;aS' ',,' " ,: ,'¡they donned fancy finery,'preparedafamilia! feast, danced a festive fandango. ': ,..-.,c, .",,'.;e.., """;:(.i}i"; ;; .._, """""""w--, , ' , ' ' ", :""i'c;' f' ,', ",~,:!;,'"i)',:::~;!'?;'h:"::,,:"";:':';'c;;;' :,,;, ,'.,' , ""But alas"As"timE;w~~t(:m;interestrat~scamedown, ,Fred " ' finance would be to forsake the family's fabulous MCCt Fred frowned as he fell into a frustrated funk. "Freedom to Re-fi and keep MCC, why can't the IRS give ,<:~: \', ,'",; that to me?'lt:s federal foolery','..:said forlorn.. Fred. '"My hope to re-fi)s certainly :':]:':,J~~ad."'"",'" ,', ',: ,,:, ',.',~:"~":~";:"';"""';":'/'J"""'~~', ",~ !,'{End of Storyf-)"¡ott/é/rqIY!J;yoùtsee,just then, Fred got a.p~,o.!.1~_c::all,fr°r.n~':tis: ' "" smart sister, Sparkle Farkle,'Sparkle was smiling with wonderful news. ,"Fear, not ';"\,:, '<~ Freddyl Novàouêâri~¡:e-fi and keep MCC( The County of Òrange'júiifèxpÎairied it :'~,è:;;;<~to mel They redo the credit when you drop your rate, New low moriitiiypaymentS , .:~oJ:~~<~,{~¡ë'~',~~;~~~~,:~~~:~:~:~~~~:~:~1i~~:~~;~~~~:')~~:',~",:."!:;',:~:;:"~'~~::<~¡~::"'~~":<~'","-' " :<:,~.!Øjf1:,~;::'r'¡Later,barely believing what$parkle had said, Fredèalled'hisLende,r;:qld Faithful ':' ",' ,'" Fed. ' "It's true I can refi, and even' cash-out without losing my:,cr~9it:;what's all this about?'" ....' ';' , "Its true;' Fred old friërid,said Lender"Frank. "'A fact yoú can actually take to the bank"" And so Fred I'efinan'ced throûghOrångeCounty's Reissued MCC program which may not rhyme with anything but it makes everyone happy! AN RMCC STORY (1198) page14 - /0 -. ..- ; , "oÏo;~~-'~;~"';'-'~'$-'cot~:",:;;;;¿:;~:;!~;~~~,~~" MCC Tax Credit iij;'i"". . ,',- ' 'M,' , for refinance loan': '-, ",' ' ,., FABULOUS FARKLE MCC FORMULA WITH CASH OUT:::' ':- ~ :~:";:,~t~~.~~¡~;~~~;~~;;~§ f:~~~;?~:j~~1 ""',C>¡<N:3-i1,'(\~qO!"'~,,, ,n:,-;~\, ,;,:,j,:, '::Mn,r":j , ',C',d»';""'-"',,1 '"t>n,>, "":,.""",.",:t,,,:T 'C<1" '" ",':" ",;if, ò ,:':;';c:'., .\:;,~~)-,.~',;:~~i;";i~;;;::>~;)~i;;:: . "CIA %" refers to Certified Indebtedness Amount ratio. This percentage equal!;the ", : principal 'páyoff amoùnt of the "old" loan divided by 'the amount òf the new loan:\ Fòr' '/ -" ' 'examPle:'$~~~o~~~~=;82,4% .::t~':}fk,y:r;v':-',,~~' c."<,,, ;Jm;f"}~i;~'~¡';';\,;~¡,,~',~;~: . :::~:': Putting the CIA ratio in the formula ensures that the tax payer will never take their MCC tax credit on an amountgreaterthanthey would have been entitièd to ón th'eorigirial Mcè;- " related loan. , " ;~.:"""" ,...,', AN RMCC STORY (1198) Page 2 4 - I r County of Orange REISSUED MCC Program Ailm;nistered ny: -~- Affordable Housing Applications, Inc. Program Office: (714) 547-1600 ' (064) ~ ", 9620 Chesapeake Drive, Suite 101 San Diego, California 92123 aha! Phone 619,292,3300 Fax 619,292.5199 PRELIMINARY APPROVAL BY SELF CERTIFICATION for the Reissued Mortgage Credit Certificate Program Lenders and Borrowers seeking preliminary approval of their anticipated RMCC applications need to answer the following questions regarding the loan in question: Yes No 1,0 0 Does Applicant have an MCC issued by the County of Orange, available to submit in the RMCC application? 2,0 0 Has the property remained the Applicant's principal residence since the date of purchase? 3,0 0 Will the vesting of the property be the same as it was on the original Deed of Trust? 4,0 0 Will you be submitting a complete RMCC application including each item which is listed on the RMCC Transmittal/Checklist? If the answer is "yes" to all four questions, your RMCC application is considered to have preliminary approval. Only a full review of the formal application package submitted after the closing of the refinance loan will determine absolute eligibility, However, we can think of no other criteria which would eliminate your application from being found eligible, * The main consideration regarding the Title is that no person or persons are added to or taken off the Title as it was originally taken, An MCC holder who has married since purchasing the property may change the Title to reflect their marital status or her married name; but the new spouse may not be added to the Title, A deceased MCC holder may be removed from the Title, We have been advised by legal counsel that dropping a spouse due to divorce, or putting the property into a family trust would disqualify the Borrower. ** Please see formula on reverse for underwriting the RMCC ** Preliminary Approval by Self Certification (1/98) 4-1.;)... 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Q) - '6-0 >- () ~ :5 ¡J¡~~;¡; Ë £ ~ ~~15 ~ ~~ ¡g ~~~~ ~ ~ ~ ~'~.ê i ~ ~ '§ ~-g~§ ¡,¡ ~.. ~ ~ ~-g~ .'t O¡¡: Q; £:Q'E~ :;.3 ~g N's Mt5 ¡::g'iif ~ õ 0 ID ";.-6:06 oq: E Eâ c..E c..~ ..:ß,g E E "0 O)Ec:Ec: .....3: mil) O).'!! O):ã .'!!~c: ~ >. 0 ....=",Q)'" 00) x.,... ""0> ""= oa.Q) ~ 1: ~ 1- (/)::;;.2£.3 u.Z w.,. (/)0 (/)(J) Z~:Q Q. ::J C'I 00 o~ 4-~ Administered By: County of Orange REISSUED -~- Affordable Housing Applications, Inc, ~ N, 9620 Chesapeake Drive, Suite 101 MCC Program San Diego, California 92123 Program Office: (714) 547-1600 (064) aha! Phone 619,292,3300 Fax 619,292.5199 Program Guide for County of Orange Reissued MCC Program What To Do When ADDlvina for a Reissued MCC Your client holds a County of Orange MCC and wants to refinance their mortgage. Your company has just enrolled in the RMCC program, Here's what to do: . Together with your client, complete the Self Certification form, If all answers are yes, proceed to the next step, . Together with your client, review, complete and execute the Statement of. Intention To Apply For RMCC. . Give your client: . A copy of the Statement oOntention To Apply For RMCC; . Answers on Refinancing Your MCC Loan; . RMCC Requirements: A Summary For Consumers, . Save the original executed "Statement of Intention To Apply For RMCC" for the formal RMCC application package to be submitted later . Complete the refinancing loan, lAIhen it has closed, compile the RMCC application and submit it to the RMCC program office, Provided your package is complete, this will be the only submission you make to the RMCC office, . The RMCC office will review your application for accuracy, completion, and eligibility. Use the RMCC Transmittal and Checklist to include all 18 required items in proper stacking order, Your RMCC application will include: RMCC FORMS . Transmittal and Checklist . RMCC Application Summary . Statement of Intention to Apply For RMCC . RMCC Application Affidavit . Lender's Closing Certificate . Ownership Change Addendum . Exhibit A (pages 1 and 2) . Conversion Extension Addendum (only for variable rate refi) . Plus 10 other items (see Transmittal and Checklist) lAIhen your application is approved, the RMCC Program will send your client: . Reissued MCC . Completed Exhibit A including page 3 calculation Table 4-1'-1 - - RMCC Program Guide cont'd, '. Recapture Tax Notice which explains that there has been no change to the original Recapture Tax Notice received with the MCC The RMCC Program will also send the Lender a copy of the Reissued MCC, provided the Lender includes a self-addressed envelope in the application package (see item 18 on Transmittal), TIPS-How To Avoid Problems with RMCCs Remember that: 'ti You should ask to see your client's original MCC as soon as possible to make sure it hasn't been lost, . , Before trying to explain Exhibit A to your client, read the instructions at the top of the first page of the document. Resist the urae to fill in the blanks on pages 1 and 31 . The "Certified Indebtedness Amount" (CIA) means principal payoff amount on the old loan. "CIA Ratio" means dividing the CIA by the new loan amount. . Item # 4 on page one of the Application Affidavit has 3 blanks for write-in answers, To decipher Item # 4 you can either go to law school, or you can remember. . If this is the first refinancing of the original MCC-related loan, blanks number one and three are going to match, and they will always be the principal payoff amount (AKA the 'CIA'? of the original loan, The second blank will be "N/A"(not applicable), ' . If this is not the first refinancing, complete the first blank same as above, For the second blank, enter the principal payoff amount of the loan your client is now closing out and refinancing, For the third blank, enter the same answer you put in the second blank, .! Keep in mind, that any refinance must go through the RMCC program in order for the IRS to recognize the transfer of the MCC credit to any subsequent mortgage financing, 4-1S"' - . " - County of Orange REISSUED Admi"i,"~d By, -~- Affordable Housing Applications, Inc, MCC Program - . - 9620 Chmpooke Ddve, Suito 101 Program Office: (714) 547-1600 (0£4) San Diego, CaHfomia 92123 aha! Phone 619,292,3300 Fax 619.292,5199 RMCC Transmittal and Checklist (Rev, 1/9B) Primary Appiicant Name (Last, First): (Funding) Lending Company: Mailing Address: Printed Name of signatory below: I certify that I have reviewed the enclosed RMCC application for accuracy and completeness, I have checked to ensure that each item below is included in this package. I understand that this RMCC application will not be processed until all the items beiow are received by the OCRMCC, / / (Signature) (Phone No.) (Fax No,) Each of the following items are to be submitted in an RMCC application, in the order of listing: - 1, Transmittal and Checklist - 2, Check for $250, made payable to The County of Orange, The total application fee is $300, of which $50 is retained by the originating lender submitting the Reissued Mortgage Credit Certificate application (parsonal or Company Checks accepted) - 3, RMCC Application Summary - 4, Copy of existing Mortgage Credit Certificate currently heid by applicant - 5, Hud-1 Settlement Statement For New loan, certified, Circle exact principal payoff amI. - 6. Statement of Intention to Apply For RMCC, executed by Borrower and lender. - 7. Reissued Mortgage Credit Certificate Application Affidavit. This affidavit must be signed by the applicant(s) and funding lender and be notarized. - 8, Copy of Old Note, plus any addenda - 9. Copy of Old Deed Of Trust - 10, Copy of Preliminary Title Report with respect to New loan - 11, RMCC lender's Closing Certificate, signed by the FUNDING lender - 12, Ownership Change Addendum - 13, Copy Of New loan Application - 14 Copy Of Note For New loan - 15, Copy of Deed of Trust For New loan - 16, Exhibit A pages 1 & 2, execuled by lender and Applicant - 17, Conversion Extension Addendum (ONLy' if Refinance loan has a Variable Rate) - 18. Self-Addressed Envelope to receive lender copy of Reissued MCC ¿(-Ie:. - - .. . County of Orange REISSUED Admi,i"",d Oy' -~- Afford.ble Housing Applie.tious, Ine, MCC Program -. - 9620 Cho"p"'o D,;vo, Suito 101 Program Office; (714) 547.1600 (OB4) Sa. Diogo, Califo,"i. 92123 aha! Phone 619,292.3300 Fax 6t9,292,5t99 RMCC Application Summary To be completed by Funding Lender. Incomplete applications will not be processed, Date: Lending Company Name: Lending Company Address; Person Completing Summary Sheet: Phone Number: Fax Number: Name of Primary Mortgagor: Last: First: Social Security Number: Street Address of Home: Cily and Zip Code: Mortgagor Phone Number: Home Phone: Work Phone: Re: Old Loan (MCC-Related Loan) : Date of Closing of Old Loan: Interest Rate of Old Loan: Original Principal Balance on date of Closing of Old Loan: Circle Financing Type: FHA VA Conventional Circle term of Old Loan: 15yrs 30yrs Date of Last Scheduled Payment of Old Loan (from Old Note): Did Loan Payoff Amount (Principai Only): Re: New (Replacement) Loan: Date of Ciosing of New Loan: Interest Rate of New Loan: Original Principal Balance on date of Closing of New Loan: Circle Financing Type: FHA VA Conventional Circle Term of New Loan: 15 yrs 30 yrs Date of Last Scheduled Payment of New Loan (from New Note): RE: VESTING: Exact Vesting (Title) of Old Loan: Any Changes Anticipated for New Loan Vesting? Circle one: No Yes If Yes, What will the Exact Vesting Be: Does this refinancing transaction represent the 'first change to any lerms of the mortgage financing to which the original MCC was connected? Circle One: Yes No Signature of Lender: Date: 4-/7 - . , - County of Orange REISSUED MCC Program - td':i:i"'~:~:;dnbl' Ho",ln. App!;""o",, In'. Program Office: (714) 547-1600 (012) _C;;;, 9620 Ch"'p"k, D"vo. S"'" 101 '" S" 0;'80. C.,;ro"i. 92123 fitm! Phooo 619.292,3300 roo 619.292,5199 Statement Of Intention To Apply For RMCC This is a statement of underslanding between a potential applicant for a mortgage refinance loan, and the funding lender taking the applicalion for that loan. The subjact of this statement is the intention of both parties to apply at a later date for a reissued mortgage credit certificate (RMCC) from the County of Orange, in connection with the refinancing loan being considered, Since the formal application for the RMCC is not submitted until after the closing of the refinancing loan, this statement is meant to serve as a convenient and informal record that both the lender and borrower are in discussion about applying for the RMCC. This statement clearly recognizes that either of the signatories may change their intention at a later date; it is not meant in any way to be legally binding on the performance of the signatories or lhe County of Orange, regarding the application for, or approval of, either the refinance loan or the reissued mortgage credit certificate. Date: Funding Lender(company): Property Address: The Lender and Borrower Agree' 1, The Lender and the Borrower have completed the "Preliminary Approval for RMCC--Self Certification" form and found that the pending transaction appears to be eligible for an RMCC, 2. The Lender has explained to the Borrower that absolute eligibility for the RMCC can not be confirmed until the formal RMCC application has been reviewed by the RMCC Program office after the closing of the refinance loan, and that the $250 RMCC application fee is non-refundable. 3. The Borrower has reviewed and agrees to sign the RMCC document entitled "Exhibit A", After the close of the refinance loan and the application for the RMCC is made, the RMCC Program will add calculations to the Exhibit A document and forward lhem to the Borrower. This Exhibit A and attachments should be used when preparing the Borrower's federal income taxes each year. The purpose of the calculations is to ensure that the Borrower will not, in any given tax year, apply for more tax credit than would have been available on the original loan that was made in connection with the MCC, 4, The Borrower has received RMCC Program materials from the Lender which include (but are not necessarily limited to) the following: (1) RMCC Requirements--A Summary for Consumers; (2) Answers on Refinancing Your MCC Loan; (3) A copy of this executed "Statement of Intention To Apply For RMCC." 5, The Lender ultimately held responsible for the RMCC application is the Funding Lender, and if the Funding Lender is originating the appiication for the refinance loan, that party would sign below, If, however, the refinance loan which is the subject of this "Statement" is being originated by a mortgage broker, that broker may sign below, and name lhe Funding Lender expected to be responsible for the submission of the RMCC appiication, Borrower lender Check here if signatory for lender is a mortgage broker 0, Slalomnnl Of 10",1100 To Apply F", RMCC (1198) Page10f1 4-1 g County of Orange REISSUED MCC Program Adm;,;""," Oy' Program Office: (714) 547-1600 ("') -~- Affordable Hollsing Appließtions, IlIe, -. - 9620 Chesapeake Drive, Suite 101 Applicant Last Name: S,n Diego, C,lifomi, 92t23 aha! Phone 619,292,3300 Fax 619,292,5199 Lending Company: Reissued Mortgage Credit Certificate Application Affidavit (there are importanllegal consequences to this legal affidavit: read it carefully before signing) I (We) the undersigned, as part of my (our) application for a reissued mortgage credit certificate (Reissued Mortgage Credit Certificate) from County of Orange (the County), issuer of such certificates under Ihe Reissued Mortgage Credit Certificate program of the County (the Program), and as a material inducement to the County to issue such certificate to the undersigned, in connection with the refinancing mortgage loan (the New Loan) from a lender of lhe undersigned's choosing (the Lender), being first duly sworn, stale the following; PART I (please read carefully and complete the fallowing) 1, I fY'Je) certify that the following are: a, My (Our) legal name(s): b, Current residence: c, Telephone: (work) ( ) (home) ( ) 2, The New Loan is a refinancing (or part of a serie. of refinancings) of a mortgage loan (the original loan with respect to a series of refinancings is hereinafter referred to as the Old Loan) to acquire a residence (the Residence) located in the County at the following address: The Residence will be (and has been) occupied and used as my (our) principal place of residence continuously from the closing date of the Old Loan (the original loan in a series of refinancings), and the Residence has not been (and will not be) used as investment property, a vacation home, or recreational home; and not more than 15 percent of the area of the Residence has been (or will be) used in a trade or business, I (we) certify that I (we) will notify the County in writing if the Residence ceases to be my (our) principal residence, 3, The New Loan closed on (date) 4, As of the date of dosing of the New Loan, the outstanding principal balance of the certified indebtedness amount of the Old Loan specified in the mortgage credit certificate issued with respect to the Old Loan (the original Existing Mortgage Credit Certificate) was (or would have been, with respect to a series of refinancings): $ (exclusive of accrued interest and other fees) after taking into account any payments on that loan on such date other than with resped to any refinancing and with respect to a series of refinancings, the outstanding principal balance of the certified indebtedness amount with respect to the last prior loan in a series of refinancings was $ , NOTE: The certified indebtedness amount of the Old Loan, or olher loan, does no! include any subsequent borrowing of addition a! principal subsequent to the original closing date of the Old Loan. The certified indebtedness amount of the New Loan as of its date of issuance is $ (an amount that does not exceed what would he or is the outstanding principal balance of the certified indebtedness amount specified on the original Existing Mortgage Credit Certificate as of the date of closing of the New Loan nor such amount with respect to the certified indebtedness amount of the last prior loan in a series of refinancings), PART II Reissued Mortgage Credit Certificate Application Affidavit 1. The New Loan is a refinancing (or a part of a series of refinancings) of the Old Loan, The following will be considered refinancing: RMCC Application Affidavit (1/98) Page10f3 4-/9 - - (a) Any extension of the Term of an Old Loan (or other loan In a series); (b) Any alteration of the terms of an Old Loan (or other loan in a series) (e,g., principal amortization or interest rate) either (i) by mutual agreement between the Old Loan holder or other loan holder and the mortgagor or (ii) through a unilateral action by one party which requires consent of the other party (rather than mere nolificalioo) or Ihe payment of consideration (e,g" a mortgagor converts a variable rate mortgage 10 a fixed rate pursuant 10 the terms of the nole aHer obtaining Ihe required consent of the lender). The date of any deemed refinancing (as described above) will be considered the date the extension or alteration is etfective (Le" the closing dale of the extension or alteration), Any deemed refinancing pursuant to this paragraph shall be treated as the New Loan for purposes of determining eligibility, 2. The Old Loan (and any subsequent refinancing if Old Loan is in a series) is the subject of a mortgage credit certificate issued by the County and Ihe last certificate in the series is still outstanding (the original certificate in a series being the Existing Mortgage Credit Certificate). 3. The Reissued Mortgage Credit Certificate is to be issued with respect to the Residence, the same property to which the Existing Mortgage Credit Certificate relates, 4, The certificate credit rate with respect to the Existing Mortgage Credit Certificate is 20 percent and the certificate credit rate with respect to the Reissued Mortgage Credit Certificate (20 percent) is not in excess of that rate (nor the rate with respect to any certificate issued in a series of refinancings), 5. The undersigned agrees to carefully read the terms of the Reissued Mortgage Credit Certificate (including Exhibit A), The undersigned understands that the reissued credit (the Reissued Credit) pursuant to the Reissued Mortgage Credit Certificate may nol be larger in any taxable year than the Reissued Credit Cap Limit (as calculated in Exhibit A to the Reissued Mortgage Credit Certificate), The undersigned certifies that the undersigned will not claim a Reissued Credit pursuant to the Reissued Mortgage Credit Certificate with respect to any taxable year unless the Reissued Credit Cap Limit has been calculated for such taxable year, in accordance with Exhibit A of the Reissued Mortgage Credit Certificate, 6. The undersigned understands that the Reissued Mortgage Credit Certificate completely replaces the Existing Mortgage Credit Certificate (or any certificate in a series of refinancings), 7, A related person to the applicant does not have, and is not expected to have, an interest as a creditor in the New Loan. 8. The Reissued Mortgage Credit Certificate was not limited to indebtedness incurred from particular lenders, 9. The New Loan is not (or will not be) used in connection with a qualified mortgage bond or qualified veterans mortgage bond, PART III Reissued Mortgage Credit Certificate Application Affidavit (please read carefully and attach appropriate documents) 1, Attached hereto is a copy of the preliminary title report relating to the New Loan. 2. Attached hereto is a complete copy of the documentation relating to the Old Loan and any refinancing loan in a series (including any addenda) which describes the terms of such loans and the mortgage credit certificate documentation with respect to such loans. For purposes of this affidavit, the term Lender means the entity to be described on the deed of trust with respect to the New Loan. The undersigned understands that this affidavit is made under penalties of perjury. Any fraudulent statement made in this affidavit will result in (a) tevocation of the applicant's Reissued Mortgage Credit Certificate, and RMCC Application Affidavit (1/98) Page 2 of 3 4-:LO - - (b) a $10,000.00 penalty pursuant to Section 6709 of the Internal Revenue Code of 1986, as amended (the Code). Dated By SIGNATURE OF APPLICANT SIGNATURE OF APPLICANT LENDER CERTIFICATIONS To the best of its knowledge, the undersigned Lender certifies that no material misstatements appear in this affidavit for a Reissued Mortgage Credit Certificate. The undersigned has contacted the lender with respect to the Old Loan and any loan in a series of refinancings (if different from the Lender) to verify (or has verified in some other manner) (a) the outstanding principal balance of the certified indebtedness amount of the Old Loan or what would have been such balance (exclusive of accrued interest and other charges) as of the date of closing of the New Loan and with respect to a series of refinancings such amount with respect to the last prior loan in the series: (b) that the terms of the Old Loan are the same as the terms of the Old Loan stated in the documents provided by the applicant in this affidavit (and that the terms of the last refinancing loan in a series of refinancings are those as provided in the documents provided by the applicant); and (c) that the New Loan is a refinancing (or part of a series of refinancings) of the Old Loan (including any deemed refinancing as described in Part II, paragraph 1, of this affidavit). The Lender certifies that it will provide to the applicant the Reissued Credit Cap Limit, the Certified Indebtedness Amount Ratio (as defined in Exhibit A to the Reissued Mortgage Credit Certificate) as calculated by the County, and if the old loan is adjustable rate, the annual percentage rate (APR) of the New loan, calculated in accordance with the Federal Truth in Lending Act, 15 U,S.C.A. 1601, et. seq" and the regulations promulgated thereunder. The undersigned understands that these certifications are made under penalties of perjury, Any fraudulent statement made with respect to these certifications will result in (a) revocation of the applicant's Reissued Mortgage Credit Certificate, and (b) a $10,000,00 penalty pursuant to Section 6709 of the Code. Date: By SIGNATURE OF LENDER PRINTED NAME OF LENDER State of California ) ) County of ) On ,199_, before me, (name, title of officer, e.g., Jane Doe, Notary Public) personally appeared (name(s) of signer(s)) - personally known to me OR - proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity~es, and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which person(s) acted, executed the instrument. Witness my hand and official seal. (Si9nature of Notary) Capacity claimed by signer: (This section is OPTIONAL) - Individual - Corporate Officer(s): - Partner(s): - General - Limited - Attorney-in-fact - Trustee(s) - Guardian/Conservator Other: - Signer is representing: (name of person(s) or entity(;es)) RMCC Applicalion Affidavit (1/98) Page 3 013 4-:¿( -. ..- County of Orange REISSUED MCC Program A"m;";,",,""y: Program Office: (714) 547-1600 (009) .~- Affordahlellousing Applications, Tnc, - "- 9620 Chesapeake Drive, Suite 101 San Diego, California 92123 Applicant Last Name: aha! Phone 619,292,3300 Fax 619.292.5199 Lending Company: lenders Closing Certificate NAME OF LENDER (the Lender): (For purposes of Ihis certificate, the term Lender means the entity 10 appear on the deed of trust with respect to the New Loan.) ADDRESS OF LENDER: After reasonable investigation, the Lender hereby certifies that the following information is true: 1. The Lender has accepted and reviewed the reissued mortgage credit certificate (the Reissued Mortgage Credit Certificate) application for: (Name(s)) (Address) who shall be referred to as the Appiicant. 2, The Lender has provided refinancing (the New Loan) in the amount of $ (mortgage amount), The New Loan recording occurred on (date, to be completed by Lender or Title Company), For purposes of this Certificate, the refinanced loan is referred to as the Old Loan; provided, if the New Loan is part of a series of refinancings, the Old Loan is only the first mortgage loan in the series, For purposes of this Certificate the Existing Mortgage Credit Certificate is the certificate executed with respect to the Old Loan. a. The Term of the New Loan is - months, b, The interest rate on the New Loan is _%, c, Type of mortgage is FHA, VA, or Conventional (circle appropriate one). d. The monthly PiTI (without RMCC) is $ e. If the refinanced loan (or original loan in a series of refinancings, the Old Loan) Is adjustable, the annual percentage rate (APR) of the New Loan, calculated in accordance with the Federal Truth in Lending Act, 15 U,S,C.A. §1601, et. seq. and the regulations promulgated thereunder (attach disclosure statement) Is 3. The Lender has explained to the Applicant that there will be a Reissued Credit Cap Limit document which the County will generate and send the Applicant after the closing of the refinancing loan. It must be signed by the Applicant and the Lender before the RMCC can be issued, 4, The Lender has either contacted the lender with respect to the Old Loan (the original loan with respect to a series of refinancings) (if different from the Lender) to verify, or has verified in some other manner, the outstanding principal balance of the certified indebtedness amount (exclusive of accrued interest and other fees and charges) of the Old Loan as of the dat~ of closing of the New Loan (or what would have been) and that the terms of the Old Loan are the same as the terms of the Old Loan stated in the documents provided by the appiicant pursuant to the Reissued Mortgage Credit Certificate Appiication Affidavit. The Lender has verified and obtained the same information with respect to the last loan in a series of refinancings. NOTE: The certified indebtedness amount of the Old Loan (or other loan) does not include borrowing of amounts subsequent to the closing of the Old Loan (or other loan). Further, any Lenders Closing Certilicate (1/98) Page 1 012 4-.2.öJ...... -. , - retirement of principal of the certified indebledness amount of the Old Loan (or other loan) as of the date of closing of the New Loan other than as a result of the refinancing with the New Loan (or another loan in a series), must be considered 10 reduce such principal balance, 5, The Reissued Mortgage Credit Certificate is wilh respect to the same property to which the mortgage credit certificate with respect to the Old Loan (the Existing Mortgage Credit Certificate) relates, 6, The Reissued Mortgage Credit Certificale enlirely repiaces the Existing Mortgage Credit Certificate, 7, The certified indebtedness amounl to be specified on the Reissued Mortgage Credit Certificate ($ ) does not exceed (i) the outstanding principal balance (exclusive of accrued interest and olher fees and charges) of the oulstanding principal balance of the certified indebtedness amount specified on Ihe Existing Mortgage Credil Certificate (if part of a series of refinancings, assuming the Old Loan had not been refinanced) as of Ihe dale of closing of Ihe New Loan and (ii) if part of a series of refinancings (such amount with respect 10 Ihe iast loan in a series of refinancings), 8. The certificate credit rate of the Reissued Mortgage Credit Certificate does not exceed the certificate credit rate on the Existing Mortgage Credit Certificate. g. The Existing Mortgage Credit Certificate was issued with respect to a loan to acquire property not a refinancing, The refinanced loan in a series of refinancings is the subject of an outstanding Reissued Mortgage Credit Certificate. 10, The New Loan has not been (and will not be) used in connection with a qualified mortgage bond or a qualified veterans mortgage bond. The Lender has no reason to believe that the property has not been continuously used as the principal residence of the applicant from the dale 60 days from the closing of the Old Loan, 11. Based upon reasonable investigation, the Lender has no reason to believe that the applicant has made any negligent or fraudulent material misstatements in connection with the applicant's application for a Reissued Mortgage Credit Certificate, 12, The Lender hereby agrees to immediately forward to the County of Orange (the County) all information which iI or any of its successors may receive during the life of the New Loan which tends to indicate that the applicant may have made a misrepresentation In applying for a Reissued Mortgage Credit Certificate, or that may affect the applicant's eligibility for a Reissued Mortgage Credit Certificate, 13 The Lender understands that the covenants herein remain for each taxable year while the New Loan is outstanding. The undersigned understands that the certifications being made herein are being made under penalties of perjury, Any fraudulent statement made in this certificate will result in (a) revocation of the applicant's Reissued Mortgage Credit Certificate, and (b) a $10,000,00 penalty pursuant to Section 6709 of the Internal Revenue Code of 1986, as amended. Dated: SIGNATURE OF LENDER PRINTED NAME OF LENDER NOTE: This form should be completed and signed by Lender as close to loan closing as possible. Loan closing date is the date the loan is recorded. Lenders Closing Cerlilicale (1/98) Page 2 of2 4-;¿3 - . , - County of Orange IÜ.:I::;SUJ::D iViCC Program Adm',"'",'"': -~- Affordable Housing Applications, Inc, Program Office: (714) 547.1600 (0191 - " 9620 Chesapeake Drive, Suite 101 Applicant Last Name: " San Diego, Califomio 92123 aha! Phnne 619.292,3300 Fax 619.292,5199 Lending Company: Ownership Change Addendum (To be attached to all County of Orange Reissued Mortgage Credit Certificates) For purposes of this Addendum, the lerm Existing Mortgage Credit Certificale means the certificate allocable to the Old Loan (as defined in lhe attached documents), 1, If two or more persons hold interests in the Residence. the Reissued Credil shall be allocated among such persons in proportion to lheir respective ownership interests in the Residence, 2. A Reissued Mortgaga Credit Certificate may only be issued to a Holder of an Existing Mortgage Credit Certificate (or valid Reissued Mortgage Credit Certificate in a series of refinancings) and not to a spouse or other co-owner of the Residence if such spouse or co-owner was not a Holder of the Existing Mortgage Credit Certificate (and Reissued Mortgage Credit Certificate, if applicable, in a series of refinancings), 3. Except as provided below, a Raissued Mortgage Credit Certificate may not ba issued if any Holder of the Existing Mortgage Credit Certificate (or a Reissued Mortgage Credit Certificate in a series of refinancings) has disposed of any portion of an interest in the Residence (either through sale. transfer. payments, or gift), 4, A Reissued Mortgage Credit Certificate may be issued with respect to a Residence if the following requirements are satisfied: (a) the Holder initially owned 100 percent of the Residence under the Existing Mortgage Credit Certificate; (b) the Holder subsequently marries; and (c) the Holder retains ownership of 100 percent of lhe Residence; provided. a Reissued Mortgage Credit Certificate may be issued if the Holder does not retain 100 percent ownership of the Residence because of the operalion of California community property laws which provide for a transfer to a spouse of a portion of the Residence; however, the Holder is urged to consult its own tax advisor as to the continued availability of the Reissued Credit under such circumstances and the amount of such a credit for any Taxable Year. APPLICANT CERTIFICATIONS The undersigned has read and understands the terms of this Reissued Mortgage Credit Certificate, including this Ownership Change Addendum. and agrees to abide by the terms thereof with respect to the reporting of a credit pursuant to Section 25 of the Code. The undersigned understands that these certifications are made under penalties of perjury. Any fraudulent statement made with respect to lhese certifications will result in (a) revocation of the applicant's Reissued Mortgage Credit Certificate, and (b) a $10,000,00 penalty pursuant to Section 6709 of the Code, Dated: ,199- By: SIGNATURE OF APPLICANT LENDER CERTIFICATIONS To the best of its knowledge, the Reissued Mortgage Credit Certificate is being issued in accordance with the terms of this Ownership Change Addandum, The undersigned understands that these certifications are made under penallies of,perjury, Any fraudulenl statement made with respect to these certifications will result in (a) revocation of the applicant's Reissued Mortgage Credit Certificate, and (b) a $10.000 penalty pursuant to Seclion 6709 of the Code. Dated: ,199- By: 4-;;¿~ SIGNATURE OF LENDER Owneffih'p Cha,geAddend"m (1198) Page 1 of 1 -. ... County of Orange REISS.UED Adm'""',,"'"y' MCC Program -<?- Affordable Honsing Applications, Inc, ,', 9620 Chesapeake Drive, Suite 101 Program Office: (714) 547-1600 (D54) San Diego, Caliromia 92123 aha.! Phone 619,292,3300 Fax 619.292,5199 Note: The Lender is responsible for completing the Iwo blanks in the first paragraph of this document, prior to its execution, However, please DO NOT complete the blanks In the formula box or on page 3 before signing this document. The formula is for assisling the RMCC holder to figure their reissued credit amount each yeer at tax time. Blanks # (A), (C), and (D) are to be left blank during application, and completed by the Taxpayer at the end of each tax year, Blanks (B). (F). (G) and (H) will be calculated. and the answers provided by the RMCC Program, after closing of the refinance loan. Blank (E) refers to page 3 which Is a calculation table which will be generated by the RMCC Program, attached to the ExhIbit A document, and mailed to the Taxpayer with the reissued MCC. EXHIBIT A to Reissued Mortgage Credit Certificate This Reissued Mortgage Credit Certificate shall entitle Holder(s) to a Reissued Credit, under Section 25(a) of the Internal Revenue Code of 1986, as amended (the Code), of up to - percent of the interest paid or accrued by Hoider(s) during the taxable year (the Taxable Year) upon the outstanding principal amount of the Certified Indebtedness Amount of $ of the New Loan; provided, the Reissued Credit may not be larger in any Taxable Year than the existing credit (the Existing Credit) that otherwise wouid have been allowabie for the Taxable Year under the mortgage credit certificate issued in connection with the Oid Loan (the original loan in a series of refinancings) (the Reissued Credit Cap Limit), Thus, the Reissued Credit for any Taxable Year is calculated as follows: Applicant Name: REISSUED CREDIT = THE LESSER OF: (a) Total Interest Paid on New Loan for Taxable Year X Certified Indebtedness Amount Ratio (as defined below) X Originai MCC Credit Rate %= OR (b) The Reissued Credit Cap Limit for the Applicable Taxable Year. THE CERTIFIED INDEBTEDNESS AMOUNT RATIO IS EQUAL TO THE FOLLOWING: Certified Indebtedness Amount of the New Loan $ Divided by Original Principal Amount of the New Loan $ = % CIA Ratio If the original principal amount of the New Loan equais the original principal balance of the certified indebtedness of the New Loan, the Certified Indebtedness Amount Ratio is equal to one. The certified indebtedness amount of the New Loan may not be greater than the originai principal baiance of the New Loan, and in any event, may not exceed the lessor of (i) the outstanding principal balance of the certified indebtedness amount of the last refinancing loan in a series of refinancings and (ii) the outstanding principal balance of the certified indebtedness amount of the Old Loan (assuming it had not been previously refinanced if part of a series of refinancings), each as of the date of issuance of the New Loan after taking into account any prepayments other than pursuant to the refinancing as of the date of ciosing of the New Loan, The Holder(s) is only entitled to the Reissued Credit if the Reissued Credit Cap Limit has been calculated and described on this Exhibit A for the Taxabie Year with respect to the New Loan, The following table must be completed as of the date of issuance of this Reissued Mortgage Credit Certificate, The Holder(s) shall not be entitled to a Reissued Credit for the Taxable Year if it is not possible to calculate the Reissued Credit Cap Limit for the Taxable Year in accordance with this Reissued Mortgage Credit Certificate. The Taxabie Year column of the foHowing table must be compieted for each Taxable Year the New Loan is to be outstanding. The first day of lhe first Taxable Year is the date of issue of the New Loan, The last day of the last Taxable Year is the date of the iast payment on the New Loan. If the first or last Taxable Year is not a full calendar year, the length of such year must be indicated under the Taxabie Year column. Exhibit A to RMCC (1/98) Page1013 4-;;¿s -. ,.- In the second column of the following table, enter the total amount of interest to be paid or accrued on the certified indebtedness amount of the Old Loan (the original loan in a series of refinancings), for each Taxable Year, as if the Old Loan is outstanding and has not been refinanced. If the Existing Credit was with respect to a variable rate mortgage ioan, enter the total amount of totai interest to be paid or accrued on the "Hypothetical Loan" (as defined below), for each Taxable Year, as if the Hypothetical Loan is outstanding. The Hypothetical Loan has a principal amount equal to the remaining outstanding balance of the certified indebtedness amount of the Old Loan (the original loan in a series of refinancings assuming it had not been refinanced), a maturity equal to that of the Old Loan (the original loan in a series of refinancings), and interest equai to the annuai percentage rate (APR) of the New loan, calculated in accordance with the Federal Truth in Lending Act, 15 U.S.C.A, § 1601, et. seq., and the regulations promulgated thereunder. The Hypothetical Loan has an amortization schedule with level payments. Interest to be paid or accrued on the certified indebtedness amount of the Old Loan (or Hypothetical Loan) must be prorated for the first and/or last Taxable Year if those years are not full calendar years as indicated on the aUached table. The totat amount of interest to be paid or accrued on the certified indebtedness amount of the Old Loan (or Hypothetical Loan) for each Taxable Year should be based on the terms of the Old Loan (or Hypothetical Loan) as of the date of closing of the New Loan and based on the outstanding principal balance of the certified indebtedness amount of the Old Loan (as if it had not previously been refinanced in a series) as of the date of Issuance of the New Loan, and by taking into account all reasonably expected scheduled principal payments on the Old Loan. The total amount of interest to be paid or accrued on the certified indebtedness amount of the Old Loan (or Hypothetical Loan) for each Taxable Year does not include amounts paid by parties other than the mortgagor (e,g" buydowns). For purposes of determining the total amount of interest to be paid or accrued on the certified indebtedness amount of the Old Loan (or Hypothetical Loan) or New Loan for each Taxable Year, except as provided on the Conversion/Extension Addendum, if applicable, attached hereto, Old Loans or Hypothetical Loans or New Loans with balloon payments or extension features should be considered retired on the scheduled retirement date (without an extension), See the Conversion/Extension Addendum, if applicable, with respect to other consequences of convertible and or extendible Old Loans (or Hypothetical Loans) or New Loans, The Reissued Credit Cap Limit is the product of column number two ( Annual Interest) multiplied by column number three ( Certificate Credit Rate) on the table on page 3. The term Lender means the entity that appears on the deed of trust with respect to the New Loan. APPLICANT CERTIFICATIONS The undersigned has read and understands the terms of this Reissued Mortgage Credit Certificate, including this Exhibit A, and agrees to abide by the terms thereof with respect to the reporting of a credit pursuant to Section 25 of the Code, The undersigned understands that these certifications are made under penalties of perjury, Any fraudulent statement made with respect to these certifications will tesult in (a) revocation of the Applicant's Reissued Mortgage Credit Certificate, and (b) a $10,000 penalty pursuant to Section 6709 of the Code, Dated: By: Signature of Applicant Dated: By: Signature of Applicant LENDER CERTIFICATIONS To the best of its knowledge, the undersigned certifies that this Exhibit A has been completed in accordance with the terms of the Reissued Mortgage Credit Certificate and this Exhibit A. The undersigned understands that these certifications ate made under penalties of perjury. Any fraudulent statement made with respect to these certifications will result in (a) revocation of the Applicant's Reissued Mortgage Credit Certificate, and (b) a $10,000 penalty pursuant to Section 6709 of the Code. Dated: By: Signature of Lender Dated: By: Printed Name of Lender County of Orange REISSUED MCC Program RMCC No, - Program Office: (714) 547-1600 (0101 Exhibit A to RMCC (1¡ga1 ~-;¿~ Page 2 of3 - - Applicant Last Name: Lending Company: Reissued Mortgage Credit Certificate Calculation of Reissued Credit Cap Limit Taxable Year Annual Interest to be (complete for each Paid or Accrued on Taxable Year or Outstanding Principal portion thereof Amount of Certified Certificate Reissued the NEW Loan Is Indebtedness Amount Credit Credit to be outstanding) of OLD Loan (or Hypothetical Rate Cap LImit Loan) Calendar No, of Year Months 1996 - $ x 20% = $ 1997 - $ x 20% = $ 1998 - $ x 20% = $ 1999 - $ x 20% = $ 2000 - $ x 20% = $ 2001 - $ x 20% = $ 2002 - $ x 20% = $ 2003 - $ x 20% = $ 2004 - $ x 20% = $ 2005 - $ x 20% = $ 2006 - $ x 20% = $ 2007 - $ x 20% = $ 2006 - $ x 20% = $ 2009 - $ x 20% = $ 2010 - $ x 20% = $ 2011 - $ x 20% = $ 2012 - $ x 20% = $ 2013 - $ x 20% = $ 2014 - $ x 20% = $ 2015 - $ x 20% = $ 2016 - $ x 20% = $ 2017 - $ x 20% = $ 2018 - $ x 20% = $ 2019 - $ x 20% = $ 2020 - $ x 20% = $ 2021 - $ x 20% = $ 2022 - $ x 20% = $ 2023 - $ x 20% = $ 2024 - $ x 20% = $ 2025 - $ x 20% = $ 2026 - $ x 20% = $ 2027 - $ x 20% = $ 2028 - $ x 20% = $ 2029 - $ x 20% = $ 2030 - $ x 20% = $ 2031 - $ x 20% = $ CAUTION: REISSUED CREDIT CANNOT EXCEED REISSUED CREDIT CAP LIMIT. Exhibit A to RMCC (11981 4-:z.7 Page 3 of3 - - ,.- ¡¡ i ,------" t-.~-~, "~', --"'r-'" !!' I Adm""'",d ny, County of Orange REISSUED -~- Affordable Housing Applications, Inc, MCC Program -', 9620ChesapeakeDdve,S"iteI01 San Diego, California 92123 Program Office; (714) 547-1600 (054) ah",! Pho", 619.292.3300 Fax 619.292.5199 COUNTY OF ORANGE RMCC PROGRAM ABOUT THE CONVERSION EXTENSION ADDENDUM Note: This document applies ONLY to new refinancing ioans which do not have a 30- year fixed rate. This page contains a very brief summary of the subject of the Conversion Extension Addendum. It is meant only to provide an introduction to the document and in no way takes the place of the document or explains it in its entirety. Any MCC holder who is applying for a Reissued MCC and will be obtaining a variable rate loan must read and sign the actual 3-page Conversion Extension Addendum (attached). Generally, when an MCC holder refinances their first mortgage, they lose the right to continue taking their mortgage credit But some mortgages have provisions in the original documents for converting or extending the mortgage at a fulure point in time, It is possible that such a conversion of a mortgage may not be considered an actual "refinancing" by the IRS, This means that the MCC holder may have the right to convert or extend their mortgage without losing their right to take the tax credit and without having to apply to have their MCC reissued, The Conversion Extension Addendum address the lype of mortgage described above. II lists in detail the five conditions which musl be met for the changed loan to NOT be considered a refinanced loan, Virtually every change which takes place regarding the terms of the loan, even the lender's processing cost of the convarsion, must be pre- determined and automatic, You are being given this Addendum because the loan you are obtaining is not a fixed, 30 year loan, and it could possibly allow for a conversion which does not constltuta a refinancing, That delarmination can be made with a study of your loan documents and this Addendum. You may want to consult your lender and/or attorney for assistance, (END) , 4 - Zg> - - ". - ^"m"'"""n" -~- Affordable IInn,ing Applicotions, Inc, Connty of Orange Reissued - " 9620 Chesnpeake Drive, Snite 101 . S'" Diego, Califnmia 92123 Mortgage Credit Certificate Program Ithlt! Pbone 619.292.3300 Fax 619.292.5199 CONVERSJONIEXTENSJON ADDENDUM (To be nttachcd, when applicahle, to Connty of Orange Rcissned Mnrtgage Credit Cc,.tifieate) If all five of tbe requirements ilescribed below arc satisfied, tbe Reissued Mortgage Credit Cerlificate Holder may convert Ibe interest rate (or the interest rate mode [e.g" fixed rate, variable rate]) of either an Old Loan, or any loan in a series of refinancings, or New Loan and such a conversion will not be deemed a "refinancing" oftbe applicable Old Loan, or any loan in a series of refinancings, or New Loan for purposes oftbis Reissued Mortgage Credit Certificote (including Exbibit A), Adilitionally, for purposes o'tbis Reissued Mortgage Credit Certificate (including Exbibit A), the Term of an Old Loan, or any lonn in a series of refinancings, or New Loan (including a balloon payment loan) generally ends on the scheduled maturity dote of such a Loan, However, the Term of an Old Loan, or any loan in a series of refinancings, or New Loon may include an additional period pursuant to an optional extension right described in nn addendum or rider to the npplicable Old Loan, or any loan in n series of refinancings,or New Loan if all five oftbe following requirements are satisfied: 1. the optional conversion of the interest rate (or interest rate mode) or extension is made pursuant to tbe original terms of the applicable Old Loan, or any loan in a series of refinancings, or New Loan (including any riders or addendums executed nllbe time nf execlltion [<>r..<:illsing] of tbe applicable Old Loan, or any lonn in a series of refinancings, or New Loan); 2. any required consent by the lender (or mortgage boldet) with respect to the optional conversion or extension is mcrely ministerinl and must bc given if certnin predetermined conditions are satisfied: 3. any consideration to be paid with respect to an optional conversion or extension is predetennined ns of the date of closing of tbe applicable Old Loan, or any loan in a series of refinancings, or New Loan (e.g., $250.00); 4. all the terms (e.g., maturity dnte, amortization schedule, and interest ratc) of the applicable Old Loan, or any loan in a serics of retinancings, or New Loan upon conversion or extension are predetcrmincd (i.e., nrc either fixed or will be fixed pursuant to a predetermined formula) as of the closing date of tbe applicable Old Loan, or any loau in a series of refinancings, or New Loan; and 5. in connection with tbe exercise by Ibe Holder of Ibis Reissued Mortgage Credit Certificate of an oplioual conversion or extension righi, the mortgage bolder does not bnve any right to alter any terms of tbe respective Old Loau, or any loan in a series of refinanciugs, or New Loan and any changes to tbe terms of the respective Old Loan, or any loan in n series of refinancings, or New Loan which do occur are automatic cbangcs pursuant to the terms of tbe respective loan (e.g" maturity lerm, interest rate, payment dotes, and assumability of the respective Old Loan, or any loan in a series of refinancings, or New Loan) as a result of the exercise by the Holder of this Reissued Mortgage Credit Certificate ofnn oplional conversion or extension right. As of the closing dnte of a loan, it mny be IInciear whether au optional extension or conversion will occur (e.g" because of a maximum permissible interest rate upon conversion or extensiou) and the amount of interest payable subsequent to a conversion or extension may be unclear beeause the interest rate may be reset upon conversion or extension pursuant to a formula. If il is unclear whether a conversion or extension will occur, or if it is uncleor as to wbat the amount of interest payable upon n conversion ur extension will be, then fuL1ll[]2QSes ofFxbihit A, tbe loan will be trented as a variable rate loan, and Exbibit A must be eompleted for such a loan. A variable rate lono will be presumed to not be converted to a fixed rate (for purposcs of Exbibit A) if it bas not been convcrted as of the dnte it is refioaoced. For purposes of Exhibit A, a balloon loan will be presumed to be extended if such loan could have met the requirements for extension and the loan would have satisfied the requirements stated above. EXAMi'LES Dalloon Extcnsion Mortgagor purchases n home on January I, 1991 and executes an assumablc 7-year balloon Old Loan with a tixcd intcrest rate 01'7 percent per year and an optional cxtcnsion rider. Mortgagor obtains a Mortgage Credit Cerlilicate with respect 10 the Old Loan. Thirty days prior to January I, 1998, Mortgngor notifies the mortgage holder that he is electing to extend his balloon Old Loan for an ndditiunal 23 years pursuant to the terms of the rider execuled at thc time he entered into thc balloon loan. Pursuaot to the balloon rider, the Mortgagor may extend the terms of his Old Loan for on additional 23 years, with ao ioterest rate determined pumlant to a formula (which may not exceed 12%), if the following are true: J. the Mortgagor has not defaulted with tespect to his Old Loan and has paid currently all mortgage payments ilue and owing: 2. a $250.00 fee is paid to the mortgage holder; 3. the Mortgagor provides 30 days notice to the mortgage holder of his intent to extend; and 4, the Mortgagor is still the owner and occupant of the applicable residence nnd there are no eocumbrances against the property. aMCC C,",,"i,,'""""";'" A""d"m (1/98) Pnge of 2 4-ÅCj - . .. - On January I, 1998, the Olil Loan is cxtcndcil for 23 years, the interest rate is automatically reset (for 23 years) pursuant to a formula, and in accordance with the original terms of the Old Loan, the Olil Loan is no longer assumable. On January 1,2001, Morlgagor refinances the extended Old Loan and wishes to obtain a Reissued Mortgage Credit Certificate. Under the above-described facts, the, 1998 extension of the Old Loan is not treated as the first refinancing of the balloon Old Loan, anil for purposes of Exhibit A, the term of the Old Luan continues fur the remainder of the 23 year cxlcnsion period. If Mortgagur refinanced Ihe Old Loan on January I, 1996 (prior to the date of a possible extension), for purposes of Exhibit A, the Old Loan would be trcaled as being extended by Mortgagur if it coulil have been extended by Mortgagor (c.g.. on January I, 1998, the interest rate to be set on the extended Old Loan woulil not have exceeded 12%). Assume that the facls arc the same as those described above cxccptlhal no rider was cxecnted in conncclion with the closing of the Old Luan. On January I, 1998, the Mottgagor ncgotiales with the Old Loan holder a new fixed interest rate on a new 30-ycar Term. On January I, 2004, Mortgagor refinances the Old Loan (as extended) and wishes to obtain a Reissued Mortgage Credit Certificate. Under Ihe above-described facls, Ihc Old Loan would be trcaled as refinanced on January I, 1998, the Mortgage Credit Certificate would be considered 10 have expired, and a Reissued Mortgage Credit Certificate may not be issued with respect to the second refinancing loan entered into on January 1,2004. ~ On January I, 1989, Mortgagor obtains and is issued a variable rate Loan with an interest rate conversion option and is issueil a Mortgage Creilit Certificate. Under the conversion option, Mortgagor may convert the interest rate on the Loan from a variable rate to a fixed rate pursuant to a predetermined formula under the Loan Icrms. Upon conversion, Ihe Loan is no longer assumable. Under the lerms of the Loan, the Loan holilcr must consent to the conversion if the Mortgagor pays $250.00, proviilcs 60 days notice, and is not in default. No terms of the Loan change in connection with the conversion other than the interest rate and the assumabilily. On January I, 1992, the Mortgagor exercises the conversion option. The exercise of the conversion option is not deemed a refinancing of Ihc Loan and the M0I1gage Credit Certificate did not necessarily tctlninate on such date. Assume that facts are as stated above except that subsequent to the January I, 1992 conversion, Mortgagor negotiates wilh the lender such that a new interest rate pruvision is added to the New Loan terms such that the Loan will now bear interest at a variable rate, Under the above-described facls, the addilion of Ihe new variable rate interest provision is deemed a refinancing of Ihc Old Loan. The Morlgagc Credit Certificate Holder can apply for a Reissued Mortgage Credit Certificate. APPLICANT CERTIFICATIONS The undersigned has read and understands the terms of this Reissued Mortgage Credit Certificate, including Uris ConvcrsionlExtcnsion Addendum, and agrees to abide by the terms thereof with respect to the reporting of a credit pursuant to Scclion 25 of Ihe Code. The undersigned understands Ihatlhcsc cerlificatiuns arc made under penalties of perjury, Any fraudulent stalcmcnt made with respect to these certifications will result in (a) revocalion of the applicant's Reissued Mortgage Credit Ccrtificalc, and (b) a $10,000.00 penalty pursuant to Scclion 6709 of the Code. Dated: _,199- By: SIGNATURE OF APPLICANT LENDER CERTIFICATIONS To the hest of its knowledge, the Reissued Mortgage Credit Certificate is being issued in accordance with the terms of this Conversion/Extension Addendum. The unilersigncd understands that Ihcse certifications are made under penalties of perjury. Any fraudulent stalcment made with respect tu these certifications will result in (a) revocation of the applicani's Reissued Mortgage Credit Certificate, and (b) a $10,000 penalty pursuant to Section 6709 of tire Code. Datcil: _,199- By: SIGNATURE OF LENDER RMCC C""""oo,.""";,,, ^""""" (I/"! Page 2 of 2 4-30 - - .. - REDEVELOPMENT AGENCY AGENDA STATEMENT Item 5' Meeting Date 03/03/98 ITEM TITLE: PUBLIC HEARING: AMENDMENT OF THE SPECIAL LAND USE PERMIT FOR THE ESTABLISHMENT OF THE MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD DATED MARCH 19, 1996 TO EXTEND THE PERMIT a) RESOLUTION /57;2. AMENDING A SPECIAL LAND USE PERMIT FOR THE ESTABLISHMENT OF A MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY REDEVELOPMENT PROJECT AREA DATED MARCH 19, 1996 TO EXTEND THE PERMIT b) RESOLUTION /.:5'73 APPROVING THE SECONO AMENDMENT TO THE OWNER PARTICIPATION AGREEMENT WITH JOHN SEXTON SAND & GRAVEL CORP, DATED MARCH 19, 1996 FDR THE DEVELOPMENT OF A TRASH TRANSFER FACILITY AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY ROAD REDEVELOPMENT PROJECT AREA EXTENDING THE EFFECTIVE DATE OF THE AGREEMENT FOR TWO YEARS TO MARCH 17, 2000 SUBMITTED BY: C.~""¡~ D.~I.pm.. Di""~ . REVIEWED BY: (4/5ths Vote: Yes- NoJlI Executive Director & ~ ..-4 BACKGROUND: The Agency approved an Owner Participation Agreement (OPA) with John Sexton Sand and Gravel Corporation for the development of a trash transfer facility at 1855 Maxwell Road in May, 1996, On September 17, 1996, the Agency approved the First Amendment to the OPA to allow eighteen months (instead of the usual twelve months) to pull building permits for the project. The effective date of the OPA was also changed from May to September 17, 1996, The Special Permit for the project was also amended in Dctober, 1996 to extend the time limit to March 1998, which is rapidly approaching, The Company, by the attached letter (Attachment A) is now requesting an additional extension of the OPA and Special Permit for two years in order to allow sale of the project to a qualified developer, and allow time to apply for and receive building permits, .:S -I - . .. - Page 2, Item S' Meeting Date 03103198 RECOMMENDATION: That the Agency hold the requisite public hearing and adopt Resolutions extending both the OPA and Special Permit. BOARDS/COMMISSIONS RECOMMENDATION: The Otay Valley Road Project Area Committee reviewed the request to extend the OPA at their meeting of February 23, 1998 and determined that they will not make a recommendation on the project due to conflicts of interest for several members, However, interested members will attend public hearing, DISCUSSION: In 1995, the City Council determined that it wanted to explore the feasibility of developing a materials recovery facility/trash transfer station within the City in order to reduce tipping fees which were approaching $75/ton at the Otay landfill, Following a request for proposals and an investigation of fourteen sites throughout the City, John Sexton Sand and Gravel Corporation was selected as the developer of the facility to be located at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area, A Special Permit and Owner Participation Agreement for the project was approved by the Redevelopment Agency on March 19, 1996, In September, 1996, the Agency approved an amendment to the OPA to incorporate phasing plans into the project and extending the OPA to March 1997 due to the additional time needed to redesign the facility and obtain building permits, On October 1, 1996, the Agency held a public hearing and approved a corresponding extension of the Special Permit for the Project. Since approval of the trash transfer project, the County's landfill operation has gone through a number of changes including privatization and a reduction in tipping fees from $74/ton to $30/ton based on volume handled by the hauler. It is not currently cost effective for Sexton to develop the project in competition with the current Otay landfill tip fee and without a solid waste flow agreement with the City, In addition, the Company has recently made a decision to divest itself of many of its assets including the proposed project in Chula Vista due to the death of the Company's owner, Sexton indicates in their letter that they intend to sell the property and approved plans to a qualified developer, As an alternative in the event that economics of the project preclude sale, Sexton has indicated that they will consider offers from industrial or other qualified uses to purchase the property which includes all eighteen acres of the Hazard site (the project was to be developed on the lower ten acres of the property), There are advantages to the City in extending the OPA and Special Permit. In the event that the new owner/operator of the Otay landfill (Allied Waste Services) raises tipping fees, the City and Sexton (or their assignee) would still have the option of moving forward with the project. Conversely, the City's ability to promote the development of a competitive project will help hold tipping fees in check, Protecting its options and having flexibility has been a key City Council goal in dealing with regionwide solid waste issues, .:5-~ Page 3. Item S- Meeting Date 03103198 Extension of the OPA and Special Permit will not preclude sale of the property to an industrial user. The market for developable industrial properties in the South Bay appears to be improving, With the financial practicality of the trash transfer station in question, it may be possible for staff to locate desirable users and facilitate negotiations with Sexton, Staff recommends that the Agency hold the public hearing for extension of the Special land Use Permit and extend both the OPA and Special Permit for a period of two years to March 17, 2000, FISCAL IMPACT: The currently proposed, scaled back trash transfer project will be valued at approximately $7 million and provide the Agency with $70,000 in annual tax increment revenues if developed, The number of jobs to be created by the facility is estimated at 30-40, The Agency is currently receiving tax increments from the land sale to Sexton, An additional land sale, if at a higher value, will add to the Agency's annual tax increments, IFK! H,\HOMEICOMMOEV\STAFF.REPIO3.03.98ITRASHXFR.lUP ¡Fab,""" 23. 1998 13,20pmll 5-3 -. .. - axton. ATTACHMENT A JOHN SEXTON January 22, 1998 SAND & GRAVEL CORP, 1815 South Wo/fRood Hillside, Illinois 60162.2/95 708-449./250 Mr, Fred Kassman ~...~ FAX: 708-449-0177 Redevelopment Coordinator Community Development Department -, City of Chula Vista 276 4th Avenue Chula Vista, CA 92010 Dear Mr, Kassman: As you know, the Redevelopment Agency of the City of C4ula Vista ("Agency") approved a Special Land Use Pennit ("Pennif') for the establishment of a materials recovery facility/trash transfer station at 1855 Maxwell Road on March 19, 1996, You also know that pursuant to Resolution No, 1515 dated October 1, 1996, the Agency extended the date on which the Pennit expires to March 17, 1998, John Sexton Sand & Gravel Corp, has made a decision to offer the Maxwell Road property for sale to other entities which are interested in developing a materials recovery facility/trash transfer station, This process wm not be completed by March 17, 1998, the date on which the Pennit expires, We believe that this project is a viable one which offers great potential for benefit to the City of Chula Vista, We regret that our company is not able to pursue the project, but we are certain that we will fmd a suitable part:-j to complete it. We therefore respectfully request that the effective period of the Pennit be extended until March 17, 2000, If you have any questions concerning this request, or if you require further infonnation, please do not hesitate to contact me, Very truly yours ~ ~.t:7. . ~ y/ C.' '.:'"7 i.-.~ c:-; -~ä!' e7/ Arthur A. Daniels President and C,E,O, AAD/"" 5-~ $Prinled on Rel'(tled Peper - , , - RESOLUTION NO. /:S7~ RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AMENDING A SPECIAL LAND USE PERMIT FOR THE ESTABLISHMENT OF A MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY REDEVELOPMENT PROJECT AREA DATED MARCH 19, 1996 TO EXTEND THE PERMIT WHEREAS, the Redevelopment Agency of the City of Chula Vista (the "Agency") approved a Special Land Use Permit (the "Permit") for the establishment of a materials recovery facility/trash transfer station (the "Facility") at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area on March 19, 1996, and; WHEREAS, said Permit was amended on October 1, 1996 to extend the term of the Permit, and; WHEREAS, said amended Permit has an effective period of two years from the date of original approval within which building permits must be obtained and development begun; and WHEREAS, the developer of the Facility, John Sexton Sand & Gravel Corp. (the "Developer"). has not been able to move forward with the project and now desires to sell the project to another qualified developer which will require additional processing time; and WHEREAS, the Developer has requested that the effective period of the Permit be extended until March 17, 2000 in order to accommodate the time necessary to seJl the project and obtain permits for development of the Facility and to coincide with the effective period of the Owner Participation Agreement for development of the Facility which was amended on March 3, 1998 to extend the effective period until March 17, 2000; and WHEREAS, Initial Environmental Study IS-95-28, of possible adverse environmental impacts has been conducted by the Environmental Review Coordinator who concluded that there would be no significant environmental effects from development of the Facility and Negative Declaration IS-95-28 was adopted by the Agency on March 19, 1996, and no conditions have changed since the time of approval; therefore:, no additional environmental documentation or action is necessary in connection with this action. NOW, THEREFORE, BE IT RESOLVED that the Redevelopment Agency of the City of Chula Vista hereby amends the Special Land Use Permit (copy attached) for the development of a materials recovery facility/trash transfer station at 1855 Maxwell Road, within the Otay Valley Road Redevelopment Project Area approved on March 19, 1996 as follows: 1. The first sentence of the second paragraph of Section 4 of the Special Land Use Permit is eliminated in its entirety and replaced with the following sentence; "This Special Land Use Permit shall become void and ineffective if not utilized by March 17, 2000 in accordance with Section 19.14,260 of the Municipal Code." Sa. - I - . , . 2, Except as expressly amended herein, all other terms and conditions of the Special Use Permit shall remain in full force and effect, Presented by Approved as to form by L~/ =-- +t-- Chris Salomone Director of Community Development IIFKI H,\HOMEICOMMDEV\RESOS\AMENDLUP.RES ",b""v 25, 199B (10,44,mll Sa - :J... - . , - .., r"'., IJ 19" ~-O ')nfì If 1c '. L~~ H . 7L LIO~~~ 1687 14-.T1JN-1996 08=56 AM Recording Requested By ¡;;,;r:<t. ~£~?l( and When Recorded Return to: SAg :::::.;r ~D::~:)' ~::CmmER': ~FPIŒ \ ;: :;"-:~G':' :~FP, ~~:;i,'7V ~E~~'l1F The Redevelopment Agency of the ,Œ~, ~-M City of Chura Vista .- .' 276 Fourth Avenue Chula Vista, CA 91910 : ;.j !. Attention: SYlvia C. Simmons {Space above for Recorder's use only] SPECIAL LAND USE PERMIT For the Establishment of A I Materials Recovery: FacilityfTrash Transfer Station At" 1855 Maxwell Road C~ula Vista, CA On March 19, 1996, the 9.~ of Chula Vista Redevelopment Agency adopted Resolution 1486, attached hereto as Exhibit A, as to the property known as 1855 Maxwell Road and more particularly set forth on Locator Map attached hereto as Exhibit B. . . "., .. , ..." q .:::;¡- Q -..3 3-c:' fJ - if fe / -. , - "'" '. 1688 EXHIBIT A RESOLUTION 1486 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA ADOPTING INITIAL ENVIRONMENTAL STUDY/NEGATIVE DECLARATION IS-95-o6, ADOPTING THE MITIGATION MONITORING AND REPORTING PROGRAM, MAKING FINDINGS UNDER THE OT A Y VALlEY ROAD REDEVElOPMENT PROJECT AREA IMPlEMENTATION PlAN/DES/GN MANUAL ADDENDUM, AND APPROVING A SPECIAL LAND USE PERMIT FOR THE EST ABUSHMENT OF A MATERIALS RECOVERYFACIUT¥ITRASH TRANSFER STATION AT 1855 MAXWEll AVENUE WITHIN THE OTAY VAllEY ROAD REDEVELOPMENT PROJECT AREA Whereas, the John Sexton Sand and Gravel Corporation ("Developer") desires to develop a trash transfer facility (the"Project") at 1855 Maxwell Road. (the "Site") within the Otay Valley Road Redevelopment Project Area; and, Whereas, the site is located within an I-P (lndustri¡¡IIPrecise Plan! zone and the project requires ~ ,~pecia/land Use Permit in order to be developed within that zone~ and Whereas, the Otay Valley Road Project Area Committee noticed and held a public meeting.on March 18, 1996 to consider the project, made.the requisite findings and recommended that the Agency approve a Special land Use Permit for the project including certain conditions; and, Whereas, the Agency duly noticed and held a public hearing on the requested Special land Use Permit on March 19, 1996, and .all protests, if any, to the approval of a Special land Use Permit in the manner lierein contemplated, were made and received at said public hearing, and no convincing objections to the proposed transactio'n were found to exist; and, Whereas, Initial Environmental Study 15-95-28, of possible adverse environmental impacts of the project has been conducted by the Environmental Review Coordinator who concluded that there would be no significant environmental effects ,!nd recommends Negative Declaration 15-95-28 be adopted; Whereas, the Redevelopment Agency is requested to review and adopt the Mitigation Monitoring and Reporting Program; and Whereas, the Redevelopment Agency is also requested to make Rndings under the Otay Valley Road Redevelopment Project Area Implementation Plan/Design Manual Addendum. NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA does. hereby find, order, determine and resolve as follows: Section 1. to adopt Negative Declaration issued under 15-95-28, Sq-'i ~ + -. . - Resolution 1486 1689 Page 2 '. f: Section 2. to adopt the Mitigation Monitoring and Reporting Program. Section 3, to make the ;following Findings under the Otay Valley Road Redevelopment Project Area Implementation Plan/Design Manual Addendum: a. The Proposed Special Land Use Permit does not constitute a substantial detriment to the Project Area or adjacent areas in that it is compatible with surrounding uses. b. The proposed Special Land Use Permit generally promotes the orderly physical and economic development of the Project Area in that its continuance contribUtes to the local economy by providing a needed service. c. The proposed Special Land ~se Permit is generally consistent with the townscape/planning and urban design objectives of the Implementation Plan/Design Manual Addendum, and contributes to the amenity of the Project Area in that the project must implement any requirements related to landscaping, exterior structural alterations, etc, Section 4. to approve a Special Land Use Permit for'the establishment of a Materials Recovery FacilityfTrash Transfer Station on the property location at 1855 Maxwell Road, Chula Vista, California ón the following conditions: This special land use permit shall become void and ineffective if not utilized within one year from the effective date thereof, in accordance with Section 19,14.260 of the Municipal Code, Failure to comply with any condition of approval shall cause this permit to be reviewed by the CitylAgency for additional conditions or revocation, The Applicant/Developer shall: Planninq Decartment 1, Construct and operate the Project as described in the application and adjoining plans, or as amended in this conditional approval. 2. Comply with and implement all plans and 'conditions of the Design Review Committee as approved pursuant to DRC-96-20. 3. Comply with and implement all Mitigation and Monitoring Measures as listed in IS-95-28. 4. A minimum of two months prior to the opening of operations, develop and submit to the Zoning Administrator for review and approval an on- and off- site clean-up program. 5, limit the hours of operation to: A. 5:00 a.m. to 10:00 p.m, (with nO deliveries before 6:30 a.m,), Mondays through Fridays; and SQ: - S- ~ ? - . ,. - -~ .<.,., ResOlUtion 1486 169q Page 3 . B. 6:00 a.m. to 10:00 p.m. (with no deliveries before 7:30 a.m.), Saturdays and Sundays. Police Department 6. At least one month prior to the opening of the Project, schedule a security evaluation of the Project with the Crime Prevention Unit of the Police Department and !mplement any suggestions resUlting from said survey, to the satisfaction of the Chief of Police. Submit written proof of compliance to the Director of Planning prior to opening of the project. 7. To the satisfaction of the Chief of Police, provide additional lighting to that shown on the site plan at the following locations: Gate C, truck parking area, drop~ff area, northwest parking, overflow parking, gate house, self-haul staging area, west parking, truck staging area, scales, grinder/shredder or on the perimeter of the property. I . . Enqineerinq Division. Public Works Department 8, Pay, comply with or otherwise implement the following to the satisfaction of the City Engineer: A. Pay the following fees: i. Sewer connection ii. Traffic signal iii. Public facilities DeYßlopment Impact Fees " B. Dedicate a half width of 36 feet along the Maxwell Road frontage, C. Install two (2 250 watt HPSV street lights .on Maxwell Road, D. Install curb, gutter and sidewalk on Maxwell Road. E. Provide sufficient asphalt paving to provide a half-width of 36 feet on the east side of Maxwell Road. F. Obtain all necessary grading permits G. Obtain an encroachment permit for the monument sign in the public right-of-way. School Districts 9. Prior to issuance of building. permits,. pay alì school fees to the satisfaction of the Sweetwater Unioh High School District and the Chura Vista Elementary Schoof District, $Q-" .iJ '1 - , ,. . Resolution 1486 1691 Page 4 Fire Deoartment 10, Prior to the submittal of building permit applications, review the project with the Chula Vista Fire Department and implement their suggestions, to the satisfaction of the Fire Marshal. 11. Install fire hydrants at locations and of a type satisfactory to the FIre Marshal. 12, Install fire hose stations at locations and of a type satisfactory to the Fire Marshal, 13. Install fire extinguishers at locations and of a type satisfactory to the Fire Marshal. 14, Install a Knox Box or key gate switch to the satisfaction of the Fire Marshal, Miscellaneous 15, Applicant/qperator shall and does hereby agree to indemnify, protect, defend änd hold harmless City, its Council members, officers, employees, agents and representatives, from and against any and all liabilities, losses, damages, demands, claims and costs, including court costs and attorneys' fees (collectively, "liabilities") incurred by the City arising, directly or indirectly, from: A, City's approval and issuance of this Special Use Pennit, B, City's approval or issuance of any other permit or action, whether discretionary or non-discretionary, in connection with the use contemplated herein, and C, Applicant's installation and operation of the facility permitted hereby, Applicant/operator shall acknowledge their agreement to. this provision by executing a copy of this Special Use Permit where indicated, below, Applicant's! operator's compliance with this provision is an express condition of this Special Use Permit and this provision shall be binding on any and all of Applicant's!operator's successors and assigns, Execution and Recordation of Resolution of ApProval 16, The property owner and the applicant shall execute this document by signing the lines provided below before a notary public, said execution indicating that the property owner and applicant have each read, understood and agreed to the conditions contained herein, Upon execution, this notarized document shall be 'recorded with the County Clerk of the County of San Diego, at the sole ~ /Ð SQ-7 -. ,.. \1692 , , ( ResoíufiOn 1486 " . Page 5 Department shall indicate the property owner'slapplicant's desire that the project, and the corresponding application for building permits and/or a business license, I::e held in abeyance without approval. . , In accordance with the provisions of Resolution 1486 of the Redevelopment Agency of the City of Chula Vista granting a Special Use Permit for the development of a Trash Transfer Facility at 1855 Maxwell Road the signator below declares that they shall abide by the provisions of the resolution. JOHN SEXTON SAND & GRAVEL CORPORATION " I SUBSCRIBED and SWORN to ~._~ before me this 16th day of MaÙ 199~, '. / .r: - -:<!:-~ ,'~ Arthur Daniels ..C:13.0. .0 FF I IAl 5 EAl" President Date: ..6;1~ h6 ZENA AA YFOAD NOTARY PUBLIC, STATE Of IlliNOIS / / MY COMMISSION EXPIRES 3/22/98 ',."..,."..~ " Submitted by Approved as to Form &- c)~ ~Lo~ Chris Salomone Community Development Director y Counsel . :f3 rl ~Qt-g -. , - 1693 .' Resoiution 1486. ~'J-fi':.-.. . PASSED, APPRovED and ADOPTED BY 'I'HE.~EVEW~ A:GENCy OF THE CITY OF CHULA VISTA, CALIFORNIA this 19ftï <fay ofM~ ~jr~ by the following Vote: AYEs: Members Padilla, Moot, Rind~ri¿::Àlevy . NOES: Member Horton ABSENT: None ABSTENTIONS: None .'.. ,dtl /~ Shirley ~ . Chairman AITEST: f!~- cÎ ~ Chris Salomone Executive Secretary " STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO) 55: CITY OF CHULA VISTA) I, Chris Salomone, Executive Secretary to the Redevelopment Agency of the City of Chula Vista, California DO HEREBY CERTIFY that the foregoing is a full, true and COrrect .copy of Resolution No. 1486 and that the same has not been amended or repealed. Dated: March 20. 1996 . (Á<..~~ .Chris Salomone ,. .g¡} / d- 6-q - 9 , '~I ~',EXHIBIT B e ~ ~ "'. :E 5 ZOI 0 ü:, ~ (,) 0 -J f- 0 UI -., ° a: a. ?ë ::: >- C a: w z W I ",', ,-' " , ",'" < , '-':",~' -' - " "..' " ,:;: ~ ~:j~~r= "oCñ .lJ:: ' ,," :'p.',. '" 0 z C . ¡¡; w a ø . ~ £ I ~ "",<:z X § fSSQ-/() - . "- Recording Requested by: CHULA VISTA REDEVELOPMENT 276 Fourth Avenue Chula Vista, CA 91910 When Recorded Mail To: CHULA VISTA REDEVELOPMENT AGENCY 276 Fourth Avenue Chula Vista, CA 91910 (Space for recording) FIRST AMENDMENT TO SPECIAL LAND USE PERMIT For the Establishment of A Materials Recovery Facility/Trash Transfer Station At 1855 Maxwell Road Chula Vista, CA On October 1, 1996 the City of Chula Vista Redevelopment Agency adopted Resolution 1515, attached hereto as Exhibit A , amending the Special Land Use Permit for 1855 Maxwell Road, SOt-I! -. ..- RESOLUTION NO. 1515 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AMENDING A SPECIAL LAND USE PERMIT FOR THE ESTABLISHMENT OF A MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY REDEVELOPMENT PROJECT AREA DATED MARCH 19, 1996 TO EXTEND THE PERMIT WHEREAS, the Redevelopment Agency of the City of Chula Vista (the "Agency") approved a Special Land Use Permit (the "Permit") for the establishment of a materials recovery facility/trash transfer station (the "Facility") at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area on March 19, 1996, and WHEREAS, said Permit has an effective period of one year from the date of approval within which building permits must be obtained and development begun; and WHEREAS, the developer of the Facility, John Sexton Sand & Gravel Corp. (the "Developer"), has had to redesign the Facility in order to incorporate a phased development plan which necessitates the submission of new applications for permits from the City of Chula Vista and the State of California which will require additional processing time; and WHEREAS, the Developer has requested that the effective period of the Permit be extended until March 17, 1998 in order to accommodate the time necessary to obtain permits for development of the Facility and to coincide with the effective period of the Owner Participation Agreement for development of the Facility which was amended on September 17, 1996 to incorporate phasing plans, certain conditions and extend the effect period until March 17, 1998; and WHEREAS, Initial Environmental Study IS-95-28, of possible adverse environmental impacts has been conducted by the Environmental Review Coordinator who concluded that there would be no significant environmental effects from development of the Facility and Negative Declaration IS-95-28 was adopted by the Agency on March 19, 1996. NOW, THEREFORE, BE IT RESOLVED that the Redevelopment Agency of the City of Chula Vista hereby amends the Special Land Use Permit (copy attached) for the development of a materials recovery facility/trash transfer station at 1855 Maxwell Road, within the Otay Valley Road Redevelopment Project Area approved on March 19, 1996 as follows; 1. The first sentence of the second paragraph of Section 4 of the Special Land Use Permit is eliminated in its entirety and replaced with the following sentence; "This Special Land Use Permit shall become void and ineffective if not utilized by March 17, 1998 in accordance with Section 19,14.260 of the Municipal Code." 2. Condition (2) under Planninq Department in Section 4 is amended by adding the following words: "...and DRC 96-20M," 3, Except as expressly amended herein, all other terms and conditions of the Special Use Permit shall remain in full force and effect, SIGNATURE PAGE FOLLOWS ~ c¡ $a -I,;)", -. , - JOHN SEXTON SAND & GRAVEL CORP, Arthur Daniels, CEO President Presented by Approved as to form by ~, ~ ~~,W Y(,f ~ -IH~~# Chris Salomone Ann oore tI / Director of Community Development Acting Agency Attorney [If" M,\HOMElCOMMOEV\RESOS\""p,2.", ¡S'ptOmb" 17. 1996 {1,49pmll ~ 5q -13 -. ,.. RESOLUTION NO. /.:5'7..3 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING THE SECOND AMENDMENT TO THE OWNER PARTICIPATION AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AND JOHN SEXTON SAND & GRAVEL CORP, DATED MARCH 19, 1996 FOR THE DEVELOPMENT OF A TRASH TRANSFER FACILITY AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY ROAD REDEVELOPMENT PROJECT AREA EXTENDING THE EFFECTIVE DATE OF THE AGREEMENT FOR TWO YEARS TO MARCH 17, 2000 The Redevelopment Agency of the City of Chula Vista (the "Agency") hereby finds as follows; WHEREAS, the Agency entered into an Owner Participation Agreement ("OPA") with John Sexton Sand & Gravel Corp, ("Developer") dated March 19, 1996 for the purpose of authorizing the development of a trash transfer facility at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area; and; and WHEREAS, said OPA was amended on October 1, 1996 to incorporate a phasing plan and extend the OPA to March 17, 1998; and WHEREAS, the Developer has requested that the effective date of the OPA be extended two years to March 17, 2000 in order to allow additional time to apply for permits for the project; and WHEREAS, the Agency has determined that it would be in the best interests of the City to extend the OPA; and WHEREAS, the development of the entire project including both phases was contemplated in the Negative Declaration prepared for the trash transfer facility which was adopted by the Redevelopment Agency as a part of the original approval of entitlements for this project; therefore, no additional environmental documentation or action is necessary in connection with this action, NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency ofthe City of Chula Vista as follows: 1. The Second Amendment of the Owner Participation Agreement with John Sexton Sand and Gravel Corp" attached hereto as though fully set forth herein, is hereby approved, 2. The Chair is hereby authorized to execute said Amendment on behalf of the Agency, pres~. s:~ Approved as to form by " -"" Chris Salomone Director of Community Development [lFK) H.\HOME\COMMOEV\RESOS\SEXT.2.AMO ".bru"y 19. 1998 111.0.,m)} slJ- I - - SECOND AMENDMENT TO THE OWNER PARTICIPATION AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AND JOHN SEXTON SAND & GRAVEL CORP, DATED MARCH 19, 1996 FOR THE DEVELOPMENT OF A TRASH TRANSFER FACILITY AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY ROAD REDEVELOPMENT PROJECT AREA EXTENDING THE EFFECTIVE DATE OF THE AGREEMENT FOR TWO YEARS TO MARCH 17,2000 WHEREAS, the Redevelopment Agency of the City of Chula Vista ("Agency") entered into an Owner Participation Agreement ("OPA") with John Sexton Sand & Gravel Corp. ("Developer") dated March 19, 1996 for the purpose of authorizing the development of a trash transfer facility at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area; and WHEREAS, said OPA was amended on October 1, 1996 to incorporate a phasing plan and extend the OPA to March 17, 1998; and WHEREAS, the Developer has requested that the effective date of the OPA be extended two years to March 17, 2000 in order to allow additional time to apply for permits for the project; and WHEREAS, the Agency has determined that it would be in the best interests of the City to extend the OPA; and WHEREAS, the development of the entire project including both phases was contemplated in the Negative Declaration prepared for the trash transfer facility which was adopted by the Redevelopment Agency as a part of the original approval of entitlements for this project; therefore, no additional environmental documentation or action is necessary in connection with this action. NOW, THEREFORE, in consideration of the above recitals and other good and valuable consideration the Agency and Developer hereby amend the OPA as follows: 1. The First sentence of Section 3B of the OPA shall be deleted in its entirety and replaced with the following: "DEVELOPER agrees to obtain building permits and begin development of the property by March 17, 2000." 2. Except as expressly provided herein, all Other Terms and Conditions of the Owner Participation Agreement shall remain in full force and effect. 3. This amendment is entered into effective as of March 3, 1998. ~- ¡;, - d). - - FEfeb, 26,1998]/2: 12PM CCJOHN SEXTON CONTRCTR FAX NO. 6184765310 No, 1512 P. 3/3 Dated: Dated: d'-/~~~J1 I' / RéOEVELOPMENT AGENCY OF THE CITY JOHN SEXTON SAND & GRAVEL CORP, OF CH,ULA VISTA ~<¿ $hlrfey Horton, Ohsinnan Arthur Daniell. CEO PresIdent AUest Appraved ill to fom\ rJY ëhri8 Salomone . John M. KaIIeny Director of Community Development Ag,nçy Attorney Ø"IO "'.IONSCCMMDE\oIRESOSWENDOPfo.INO ",-,t, ,... c"- 5/;-3 - . .. - Dated: Dated: REDEVELOPMENT AGENCY OF THE CITY JOHN SEXTON SAND & GRAVEL CORP, OF CHULA VISTA Shirley Horton, Chairman Arthur Daniels, CEO President Attest: Approved as to form by Chris Salomone John M. Kaheny Director of Community Development Agency Attorney [(FK) H,IHOMElCOMMDEVlRESDSIAMENDOPA.2ND (Februa'Y 19. 1998 (",Q4em)] 5b -3 -. ... 10C # 1996-0298454 14-JUH-1996 08=55 AI'! Recording Requested By 1671 OFFICIAL RECORDS and When Recorded Return to: 11\ SAH OIEGD COUHTY RECORDER'S OFFICE GREGORY SMITH. COUHTY RECORDER FEES: 0.00 The Redevelopment Agency of the City of Chula Vista :\ lv\ 276 Fourth Avenue Chula Vista, CA 91910 \)~ Attention; Sylvia Simmons [Space above for Recorder's use only] OWNER PARTICIPATION AGREEMi¡:NT BETWEEN THE CHULA VISTA REDEVELOPMENT AGENCY and JOHN SEXTON SAND & GRAVEL CORP, THIS AGREEMENT is entered into by the CHULA VISTA REDEVELOPMENT AGENCY, a body corporate and politic [hereinafter referred to as "AGENCY"], and John Sexton Sand & Gravel Corp, [hereinafter referred to as "DEVELOPER"], ' WHEREAS, the DEVELOPER desires to purchase and develop real property within the Otay Valley Road Redevelopment Project Area which is subject to the jurisdiction and control of the AGENCY; and, WHEREAS, the DEVELOPER has presented plans for development to the Otay Valley Road Project Area Committee (PAC) and the Design Review Committee (DRC); and, WHEREAS, said plans for development have been conditionally recommended for approval by said Committees; and, WHEREAS, the AGENCY hereby approves the development proposals as conditioned by PAC and DRC; and, WHEREAS, the AGENCY desires that said development proposal be implemented and completed as soon as is practicable, NOW, THEREFORE, the AGENCY and the DEVELOPER agree as follows: 1. The foregoing recitals are incorporated into this Agreement, 2, The property to be developed is described as Assessor's Parcel Number 644-0040-16 located at 1855 Maxwell Road. Chula Vista, A map of the property is attached hereto and by this reference incorporated herein, 3, The DEVELOPER covenants by and for themselves, their heirs, executors, administrators and assigns, and all persons claiming under or through them the following: 5b -4 f!.-/1f~7 - . .. - 1672 A, That the property will be developed in accordance with the AGENCY approved development proposal attached hereto as Exhibit A as though fully set forth herein, and on file in the Office of the Secretary to the Redevelopment Agency, known as Document No, RACO-96-03, 8, DEVELOPER agrees to obtain building permits and begin development of the property within eighteen (18) months from the date of issuance of the building permits, In the event DEVELOPER fails to obtain such building permits within this time period or fails to obtain an extension to obtain said permits, the approval of DEVELOPER'S development proposals shall be void and this Agreement shall have no further force or effect, C, That in all deeds granting or conv,eying an interest in the property, the following language shall appear: "The grantee herein covenants by and for themselves, their heirs, executors, administrators and assigns, and all pt;irsons claiming under or through them, that there shall be no discrimination against or segregation of, any person or group of persons on account of race, color, creed, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure, or enjoyment of the premises herein conveyed, nor shall the grantee himself or any persons claiming under or through him establish or permit any such practice of discrimination or segregation with reference to the selection, location, number use or occupancy of tenants, lessees, subtenant lessees, or vendees in the premises herein conveyed, The foregoing covenants shall run with the land," D, That in all leases demising an interest in all or any part of the property, the following language shall appear: "The lessee herein covenants by and for themselves, their heirs, executors, administrators and assigns, and all persons claiming under or through him, and this lease is made and accepted upon and subject to the following conditions: "That there shall be no discrimination against or segregation of, any person or group of persons, on account of race, color, creed, national origin, or ancestry, in the leasing, subleasing, transferring use, occupancy, tenure, or enjoyment of the premises herein leased, nor shall the lessee himself or any persons claiming under or through him, establish or permit any such practices of discrimination or segregation with reference to the selection, location, number or use, or occupancy of tenants, lessees, sub/essees, subtenants, or vendees in the premises herein leased," 4, DEVELOPER agrees that if either the AGENCY or the CITY OF CHULA VISTA proceeds to form a Special Assessment District for the construction or maintenance of parking facilities, public roads, common areas, or other public facilities which benefit the real property, subject to this agreement, the DEVELOPER hereby waives any right they may have to protest the formation of such Special Assessment District, Said waiver shall not preclude the DEVELOPER from protesting the amount of any assessment on such property, Agency represents that it has included this provision in substantially all previous Page 2 of 5 5b-5" -. . - 1673 OPA's for the Project Area and it is Agency's current intent to include this provision in all future OPA's for the Project Area, 5, DEVELOPER agrees to accept the attached conditions imposed by the Otay Valley Road Project Area Committee, the Design Review Committee and the Redevelopment Agency as described in Exhibit "8," attached hereto as though fully set forth herein, 6, DEVELOPER agrees to maintain the premises in FIRST CLASS CONDITION, A, DUTY TO MAINTAIN FIRST CLASS CONDITION, Throughout the term of this Agreement, DEVELOPER shall, at DEVELOPER'S sole cost and expense, maintain the property and all Improvements in first class condition, and in accordance with all applicable laws, permits, licenses, and other governmental authorizations, rules, ordinances, orders, decrees, and regulations now or hereafter enacted, issued or promulgated by federal, state, county, municipal, and other governmental agencies, bodies, and courts having or claiming jurisdiction and all their respective departments, bureaus, and officials, If the owners fail to maintain the property in a "first class condition", the Redevelopment Agency of the City of Chula Vista or its agents shall have the right to go on the property and perform the necessary maintenance and the cost of said maintenance shall become a lien against the property, The Agency shall have the right to enforce this lien either by foreclosing on the property or by forwarding the amount to be collected to the Tax Assessor who shall make it part of the tax b!", 8, DEVELOPER shall promptly and diligently repair, restore, alter, add to, remove, and replace, the property and all Improvements in order to comply with this Agreement, or to remedy all damage to or destruction of all or any part of the Improvements, Any repair, restoration, alteration, addition, removal, maintenance, replacement and other act of compliance under this Paragraph [hereafter collectively referred to as "Restoration"] shall be completed by DEVELOPER whether or not funds are available from insurance proceeds or subtenant contributions, The Restoration shall satisfy the requirements of any sub-sublease then in effect for the property or Improvements with respect thereto or, if no sub-sublease is then in effect, shall be repaired or restored in the building standard shell condition existing immediately prior to the date of such damage or destruction, C, In order to enforce all above maintenance provisions, the parties agree that the Community Development Director is empowered to make reasonable determinations as to whether the property is in a first class condition, If he determines they are not, he (1) will notify the owners in writing and (2) extend a reasonable time to cure, If a cure or substantial progress to cure has not been made within that time, the Director is authorized (subject to the following paragraph) to effectuate the cure by City forces or otherwise, the cost of which will be promptly reimbursed by the owners, Provided however, in the event that there is a dispute over whether property is in a first class condition, over the time allowed to cure or over the amount of work and expense authorized by the Director to cure, the parties agree to meet and confer for a period of thirty (30) days to attempt to resolve the dispute, In the event that the parties fail to resolve the dispute in such time period, each party shall reserve any and Page 3 of 5 Sb-" - - 1674 all rights available at law or in equity to enforce this provision, including, without limitation, self-help remedies with a right of reimbursement or offset, D, FIRST CLASS CONDITION DEFINED, "First class condition," means a condition at least substantially equal in quality to that which exists when the requirements in attached Exhibits A and B are completed except for reasonable wear and tear consistent with the purposes for which the property is used, 7, AGENCY and DEVELOPER agree that the covenants of the DEVELOPER expressed herein shall run with the land for the term of this agreement, DEVELOPER shall have the right, without prior approval of AGENCY, to assign its rights and delegate its duties under this Agreement, and shall thereafter have no further liability hereunder, 8, AGENCY and DEVELOPER agree that the provisions of this Agreement are for the benefit of the AGENCY and the Project Area and may be specifically enforced in any court of competent jurisdiction by the AGENCY, 9, AGENCY and DEVELOPER agree that the premises shall only be used for light industrial land uses permitted under the I-L, Limited Industrial zone of the City of Chula Vista's Zoning Ordinance, or land uses permitted in I-L zones through the conditional use process (Special Land Use Permit process), 10, DEVELOPER or subsequent owners shall not allow activities to be conducted that exceed City code standards for noise, light, dust or other nuisances, Upon completion of the project, DEVELOPER will provide to the owners of adjoining properties the telephone numbers of property managers and the City's Code Enforcement Officer to.allow.for complaints to be lodged and abatement to be initiated if anyon-site activities result in a perceived nuisance, 11, Unless otherwise superseded, the term of this Agreement shall be the same as the term of the Otay Valley Road Redevelopment ¡:>¡oject Area which runs until December 2023, 12, Agency and Developer agree that this agreement shall become effective upon purchase of the subject property by the Developer, If the Developer fails to purchase the property within one year, from the date of approval hereof, this agreement shall be null and void, 13, AGENCY and DEVELOPER agree that this Agreement may be recorded by the AGENCY in the Office of the County Recorder of San Diego County, California, -SIGNATURE PAGE FOLLOWS- Page 4 of 5 5b -7 - . . - 1675 REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA "AGENCY" Dated: 5/5ò/?r:. By; 4/h~1~ I ( Shirley Hor n, Chairman JOHN SEXTON SAND & GRAVEL CORP, "DEVELOPER" Dated; SÞY~6 BY:~ / / C£"O.. Arthur A. Daniels President/Chief Executive Officer Approved as to form by; SUBSCRIBED and SWORN to before me {;~:?r:;:; ". 0 ry Public r "OFFICIAL 5 E A L" lENA RAYFORD NOTARY PUBLIC. STATE OF ILLINOIS MY COMMISSION EXPIRES 3/22/98 [AK: ICOMMDEV\KASSMANIOP ASISEXTON . OPAl Page 5 of 5 5.6 - ~ - - CALIFORNIA ALL-PURr-'SE ACKOWLEDGEMENT State of California ) County of San Diego ) On ~ YJ, JCff't- before me, Beverlv A, Authelet. City Clerk. personally appeared ~¡'('/er ¡foj'/~ ~ersonally known to me - OR - Oproved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s). or the entity upon behalf of which the person(s) acted, executed the instrument, WITNESS my hand anà official seal. '{? w4 () ~ Signatura of Notary OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form, CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT 0 Individual ~ Corporate Officer ôPft 1m]1 ~ ~~ '1 ~ Cha;r KrJp,..,féJOWPu'/ ~-p¡,(od- I Title(s) ( Title or T of D,ocument 0 Partners(s) 0 Limited 13 0 General Number of Pages 0 Attorney-in-Fact 0 Trustee(s) 5~~N' 0 Guardian/Conservator 0 Other: Dat6 of ocument SIGNER IS REPRESENTING: Name of Person(s) or Entity~S) ?t Signer(sl Other Than Named Above rÌl-7 ,£ rhl1J" /, 'çb.. ;J{JIR-~ ~ - b-9 - . , - m ! [i<ïn 677 '.~ g ~ I ' .1 Ii ã~~ 5 I o~< w I .~J ~ I u i Ë 11 1£ :1 I f¡ I I l" , j, !~ ;1 '! 00 ," ~! !( I ; >. I. ~¡ ill. --J: I- IU~ ill; ~,. 1-' 0' i ~i I 11J¡ ¡~ r I ~u w . .- , ,- I $6 - / () EXHI.BITA - . , - 1II1 :/" . .,"tJ IIJ I " 'I', "'~1'~ ; 167~ ! ri f ~¡' ,¡! ' ì", 1. 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I I ! i . i i -- --~ -- :..- ~-- ~'~..,~:;¡ . - - .'----------_c_- -I(P 1684 EXHIBIT B TO OPA DESIGN REVIEW COMMITTEE CONDITIONS On March 11, 1996, the Design Review Committee considered the site plan and architecture for the construction of a 76,000 square foot Materials Recovery Facility and Trash Transfer Station along with 7,500 square feet of office space, truck parking, scales and yard waste processing area, The Committee, after hearing staff's presentation, approved the request to exceed the maximum allowable building height of 35 feet by 5 feet to a maximum height of 40 feet as minor deviation from the development standards in a Precise Plan Modifying District, and approved the project by unanimous vote, subject to the following conditions: 1. Approval of this project is contingent upon approval of Special Use Permit SUPO-96-01, 2, Complete landscape and irrigation plans detailing all new landscaping, and to include a plan of existing trees, shall be submitted to the Planning Department prior to, or in conjunction with, the building permit submittal package, 3, Any additional roof-mounted equipment or ventilating apparatus shall be screened or treated in the same manner as the proposed rooftop ventilation scheme and shall be submitted to staff for review and approval. 4, The metal panels as shown on the sample board shall be reversed, so that the inside of the metal panel shall be outside (also referred to as the Shadow Ribwall system), 5, The split-face block wall, treated with a graffiti-resistant coating, shall be used for the fencing on the west and south sides, in the location shown on the site plan, Chain link fence with vinyl coating shall be used on the north and east property lines, 6, The final sign package shall be submitted to staff for review and approval. , .::rb - 11 - - 1685 RESOLUTION 1487 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA APPROVING PLANS AND ENTERING INTO AN OWNER PARTICIPATION AGREEMENT WITH JOHN SEXTON SAND AND GRAVEL CORPORATION FOR THE DEVELOPMENT OF A MATERIALS RECOVERY FACILITY/TRASH TRANSFER STATION AT 1855 MAXWELL ROAD WI"'(HlN THE OTAY VALLEY ROAD REDEVELOPMENT PROJECT AREA WHEREAS, John Sexton Sand and Gravel Corporation desires to develop a trash transfer facility ("Project") at 1855 Maxwell Road ("Site") within the Otay Valley Road Redevelopment Project Area; and, WHEREAS, the Site is located within an I-P (lndustriallPrecise Plan) Zone and the proposed project requires a Special Land Use Permit for construction in that zone; and WHEREAS, the Developer has presented plans for development to the Otay Valley Road Project Area Committee (PA.9 and the Design Review Committee (DRC); and, WHEREAS, said plans were not considered by the Otay Valley Road Project Area Committee due to conflict of interest of several members and consequential lack of a voting quorum; and WHEREAS, said plans for development have been conditionally recommended for approval by the DRC; and :,;w¡ 1"" ),.¡ """ WHEREAS, the Agency has adoptèd Negative Declaration is-95-28 and the Mitigation Monitoring and Reporting Program issued on the Project and has approved a Special Land Use Permit for the Project; and, WHEREAS, the Agency hereby approves the development proposals as conditioned by Project Area Committee and Design Review Committee; and, WHEREAS, the Agency desires that said development proposal be implemented and completed as soon as is practicable, NOW THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA does hereby find, order, determine and resolve as follows; Section 1, The Owner Participation Agreement, on file in the Office of the Secretary to the Redevelopment Agency known as document RACO-96-03, entered into between the Agency and John Sexton Sand and Gravel Corporation, is hereby approved, Section 2, The Chairman of the Agency is hereby authorized to execute said Agreement, ,'\ ;' ;',' , APPROVED AS TO FORM BY; Sb -If! ~~C " 1996-0537681 23-0CT-1996 03=03 PM , Recording requested by: ,- OFFICIAL RECOROS ,- SAH DIEGO COUHTY RECORDER'S OFFICE Redevelopment Agency -, GREGORY SMITH, COUHTY RECOROER of the City of Chula I 1563 FEES: 0.00 Vista After recordation, return to: Redevelopment Agerrt:y Att: Sylvia Simmons 276 Fourth Avenue This space for Recorder's use only Chula Vista, CA 91910 AMENDMENT TO OWNER PARTICIPATION AGREEMENT between the Redevelopment Agency and John Sexton Sand & Gravel Corp, On September 17, 1996, the City of Chula Vista Redevelopment Agency adopted Resolution 1514 approving the First Amendment to the Owner Participation' Agreement between the Redevelopment Agency and John Sexton Sand & Gravel Corp" for the development of a Trash Transfer Facility at at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area, 5b - /9 l(/I-/5/tj f}f1/lr ie t'J/ - . .. - 1564 FIRST AMENDMENT TO THE OWNER PARTICIPATION AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AND JOHN SEXTON SAND & GRAVEL CORP, DATED MARCH 19, 1996 FOR THE DEVELOPMENT OF A TRASH TRANSFER FACILITY AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY ROAD REDEVELOPMENT PROJECT AREA TO INCORPORATE PROJECT PHASING PLAN, ADDITIONAL CONDITIONS AND EXTENDING THE EFFECTIVE DATE OF THE AGREEMENT WHEREAS, the Redevelopment Agency of the City of Chula Vista ("Agency") entered into an Owner Participation Agreement ("OPA") with John Sexton Sand & Gravel Corp. ("Developer") dated March 19, 1996 for the purpose of authorizing the development of a trash transfer facility at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area; and WHEREAS. said OPA called for the development of a facility of approximately 94,800 square feet with related parking, landscaping and storage areas on the 10.8 acre parcel; and WHEREAS, pursuant to said OPA the Developer has 18 months from the effective date (May 30, 1996) to obtain permits and begin development; and WHEREAS, the Developer has requested that the project be developed in two phases with the first phase comprising a facility of approximately 52,500 square feet, and the second phase adding 42,300 square feet when market conditions warrant the expansion; and WHEREAS. the Developer has submitted plans for the Phase 1 development which have been reviewed and recommended for approval by the Design Review Committee with the addition of five conditions at their meeting of August 26, 1996; and WHEREAS. approval of the phasing plan requires amendment to Exhibit A of the OPA and addition of conditions requires amendment of Exhibit 8 of the OPA; and WHEREAS. the Developer has requested that the effective date of the OPA be amended to begin upon approval of the proposed amendments; and WHEREAS, the development of the entire project including both phases was contemplated in the Negative Declaration prepared for the trash transfer facility which was adopted by the Redevelopment Agency as a part of the original approval of entitlements for this project; therefore, no additional environmental documentation or action is necessary in connection with this action. NOW. THEREFORE. in consideration of the above recitals and other good and valuable consideration the Agency and Developer hereby amend the CPA as follows: 1. The First sentence of Section 38 of the OPA shall be deleted in its entirety and replaced with the following; "DEVELOPER agrees to obtain building permits and begin development of the property within eighteen (18) months from the effective date of this agreement," ,5'6 -,)J> 2. Section 12 of the Owner Participation Agreement is hereby deleted in its entirety and replaced with the following: "Agency and Deve/oper agree that the effective date of this Agreement shall be the date of appro va/ of the First Amendment which is Seotember 17, 1996." 3. Exhibit A of the Owner Participation Agreement is hereby amended by adding the Phase I Development Plan attached hereto as Attachment I. 4, Exhibit B of the Owner Participation Agreement is hereby amended by adding the following conditions: 7, This proposal, as submitted, shall be subject to all of the conditions imposed upon the project as part of Special Use Permit SUPO-96-0 1, 8, This proposal, as submitted, shall be subject to a/I conditions imposed upon the project submitted as DRC-96-20 and conditionally approved on March 11, 1996, and DRC-96-20M conditionally approved on August 26, 1996. 9. All areas for future expansion which are shown in the Phase 1 proposal as "hydroseeded turf" shall be irrigated with a sprinkler system acceptable to the City Landscape Planner, 10. A landscape maintenance letter, as called for in the City of Chu/a Vista Landscape Manua/, covering all areas shown as "hydroseeded turf", shall be submitted to the City Landscape Planner at the building permit submittal stage, 11, The north elevation shall be articulated similar to the north elevation originally submitted, The proposal will be approved at staff level, 5. Except as expressly provided herein, all Other Terms and Conditions of the Owner Participation Agreement shall remain in full force and effect, 6. This amendment is entered into effective as of September 17, 1 996. Dated: Dated: 9-";L=?-P'6- REDEVELOPMENT AGENCY OF THE CITY OF JOHN SEXTON SAND & GRAVEL CHULA VISTA CORP, ~~ ~~q~ Shirley Ho n, Chairman .Chief Executive Officer Attest: Approved as to form: ~ ~ Ú ~ Chris Salomone, Executive Secretary Ann Moore, Acting Agency Attorney (Ifkl M:HOMEICOMMDEV\RESOS\SEXTONOPA.AMD September 20,19968:28 am} "0 F Fie I S6 -:U ZENA 'AY, NOTARY PUBLI , MY COMMISSI - . , . CALIFORNIA ALL-PURPOSE ACKOWLEDGEMENT State of California ) 1566 County of San Diego ) On October 9, 1996 before me, Patricia Schwenke, Deoutv Citv Clerk, personally appeared Shirley Horton, Chairman []personally known to me - OR - Dproved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument, WITNESS my hand and official seal. 4-&1 (.~ ~ALvbJ)k Signature of Notary OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form, CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT 0 Individual ro Corporate Officer Amendment to Owner Chairman Participation Agrement Title or Type of Document Title!s) 0 Partners(s) 0 Limited r'tV~n (II) 0 General Number of Pages 0 Attorney-in-Fact 0 Trustee(s) September 17, 1996 0 Guardian/Conservator 0 Other: Date of Document SIGNER IS REPRESENTING: John Sexton Sand & Gravel Corp. 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' , , fU~Ð ¡.~. ..- - . 1572 RESOLUTION 1514 RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA AMENDING THE OWNER PARTICIPATION AGREEMENT WITH JOHN SEXTON SAND & GRAVEL CORP, DATED MARCH 19, 1996 FOR THE DEVELOPMENT OF A TRASH TRANSFER FACILITY AT 1855 MAXWELL ROAD WITHIN THE OTAY VALLEY ROAD REDEVELOPMENT PROJECT AREA TO INCORPORATE PROJECT PHASING PLAN, ADDITIONAL CONDITIONS AND EXTEND THE EFFECTIVE DATE OF THE AGREEMENT WHEREAS, the Redevelopment Agency of the City of Chula Vista ("Agency") entered into an Owner Participation Agreement ("OPA") with John Sexton Sand & Gravel Corp, ("Developer") dated March 19, 1996 for the purpose of authorizing the development of a trash transfer facility at 1855 Maxwell Road within the Otay Valley Road Redevelopment Project Area; and WHEREAS, said OPA called for the development of a facility of approximately 94,800 square feet with related parking, landscaping and storage areas on the 10,8 acre parcel; and WHEREAS, pursuant to said OPA the Developer has 18 months from the èffective date (May 30, 1996) to obtain permits and begin development; and . . WHEREAS, the Developer has requested that the project be developed in two phases with the first phase comprising a facility of approximately 52,500 square feet, and the second phase adding 42,300 square feet when market conditions warrant the expansion; and WHEREAS, the Developer has submitted plans for the Phase 1 development which have been reviewed and recommended for approval by the Design Review Committee with the addition of five conditions at their meeting of August 26, 1996; and WHEREAS, approval of the phasing plan requires amendment to Exhibit A of the OPA and addition of conditions requires amendment of Exhibit B of the OPA; and .WHEREAS, the Developer has requested that the effective date of the OPA be a mended to begin upon approval of the proposed amendments; and WHEREAS, the development of the entire project including both phases was contemplated in the Negative Declaration prepared for the trash transfer facility which was adopted by the Redevelopment Agency as a part of the original approval of entitlements for this project; therefore, no additional environmental documentation or action is necessary in connection with this action. NOW, THEREFORE, BE IT RESOLVED that the Redevelopment Agency dfthe City of Chula Vista does hereby; .::)6-.=2-~ ~'\".> \. Resolution 1514 Page 2 1, Find and determine that the project contemplated by the OPA. as amended, is consistent with the Otay Valley Road Redevelopment Project Plan, and implements the purposes thereof, 2. Authorize and approve the amendment of the Owner Participation Agreement by and between the Agency and John Sexton Sand & Gravel Corp, dated March 19, 1996 in substantially the form attached hereto, 3. Authorize the Chairman to execute the amendment on behalf of the Agency the final version of which shall be kept on file in the Office of the Secretary to the Redevelopment Agency and known as Document #RACO-18-96, BE IT FURTHER RESOLVED that the Chairman is hereby authorized to execute the amendment on behalf of the Agency, Presented by Approved as to form by Chris C!::e ~ ~~ Ann Moore Director of Community Development Acting Agency Attorney 5h-:¿q - - 1574 Resolution No. 1514 PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF CHULA VISTA, CALIFORNIA this 17th day of September 1996 by the following vote; AYES: Members Horton, Rindone, Alevy, Moot NOES: None ABSENT: Member Padilla ABSTENTIONS: None stÉtf:!~ Chairm ATTEST: @~-~ Chris Salomone Executive Secretary STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO) ss: CITY OF CHULA VISTA) I, Chris Salomone,: Executive Secretary to the Redevelopment Agency of the City of Chula Vista, California DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution No. 1514 and that the same has not been amended or repealed, Dated; September 18, 1996 -~ ~ Chris Salomone Executive Secretary .s:6 -~ -. , -