HomeMy WebLinkAboutReso 2010-251RESOLUTION NO. 2010-251
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CHULA VISTA AUTHORIZING THE CITY
MANAGER TO EXECUTE AN AGREEMENT TO POST
SECURITY FOR AN AFFORDABLE HOUSING
OBLIGATION RELATED TO EL DORADO RIDGE
BETWEEN THE CITY AND C V H I, LLC
WHEREAS, the City's Balanced Communities Policy (Inclusionary Policy) requires 10
percent (10%) of any new subdivision in excess of fifty (50) units to be made affordable for low
and moderate-income families (5% low and 5% moderate); and
WHEREAS, the Inclusionary Policy provides alternative methods to meeting the
obligation when an unreasonable hardship exists to provide the affordable units on-site; and
WHEREAS, condition #77 of the January, 10, 2006 approval for the El Dorado Ridge
Tentative Subdivision Map required C V H 1, LLC (the "Developer") to enter into an agreement
with the City of Chula Vista to guarantee compliance with the Inclusionary Policy prior to
recordation of the El Dorado Ridge final map; and
WHEREAS, to comply with this condition, the City has prepared an Agreement to Post
Security for Affordable Housing Obligation (the "Affordable Housing Agreement") between the
City and Developer for City Council's consideration and approval; and
WHEREAS, the Affordable Housing Agreement requires the Developer to post a bond in
fulfillment of the obligation prior to the issuance of building permits for the El Dorado Ridge
Project.
NOW, THEREFORE, BE IT RESOLVED by City Council of the City of Chula Vista
that this Council does hereby authorize the City Manager to execute the Affordable Housing
Agreement related to El Dorado Ridge, a copy of which shall be kept on file in the office of the
City Clerk.
Presented by
Approved as to form by
Resolution No. 2010-251
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 26th day of October 2010 by the following vote:
AYES: Councilmembers: Bensoussan, Castaneda, McCann, Ramirez and Cox
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
C ~~1C_1saF-
Cheryl Cox, ayo
ATTEST:
~~ ~~~~
Donna R. Norris, CMC, City Clerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2010-251 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 26th day of October 2010.
Executed this 26th day of October 2010.
~~~ ~~ ~~~
Donna R. Norris, CMC, City Clerk