HomeMy WebLinkAboutD-1548 Lot 148 - Tract 2307 Recorded 09/25/20010
RECORDING REQUESTED BY:
<SLO Estates, Inc.
Rrst PWneeiCC,_T +Ie__
WHEN RECORDED MAIL TO:
City Clerk
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
E I► MM
JULIE RODEWALD
San Luis Obispo: County— Clerk/Recorder
Record_ ed at the request of
First American Title Company
Doc #: 2001072162
DG i
9/25/2001 j
8:00 AM
Titles: 1 Pages: '17
Fees 0.00
Taxes 0.00
Others 0.00
PAID $0.00
AGREEMENT BETWEEN THE CITY OF SAN LUIS OBISPO AND
DEVAUL RANCH, L.P. TO PROVIDE AFFORDABLE RENTAL HOUSING
THIS AGREEMENT BETWEEN THE CITY OF SAN LUIS OBISPO AND
DEVAUL RANCH, L.P. TO PROVIDE AFFORDABLE RENTAL HOUSING (this
"Agreement ") is made and entered into as of , 2001, by and between,
DeVaul Ranch, L.P., a California limited partnership (herein referred to as "Owner "), and the City
of San Luis Obispo, a charter municipal organization in the State of California (hereinafter referred
to as "City.)
RECITALS:
A. The Owner is the owner of that certain real property described as Lot 148, Tract 2307
( "Property "). 13oo k 101 P5 7-7
B. The Owner has received development approval for a one hundred twenty -two (12 2) -
unit apartment project zoned R -3 ( "Project ").
C. As a condition of planned development approval, the Owner is required to provide
twenty -five (25) rental housing units affordable to low and moderate income households, pursuant
to the City's Affordable Housing Standards.
D. Prior to issuing construction permits for the Project, the City requires an affordable
housing agreement defining the terms and conditions under which the required affordable rental
housing units will be provided.
NOW, THEREFORE, in consideration of mutual covenants, conditions, promises and
agreements herein set forth, the parties agree as follows:
1. Affordable Rental Housing Provided. The Owner agrees to construct and make available
twenty-five (25) affordable rental apartment units on the Property in compliance with the conditions
of approval of City Planned Development 102 -96 during the term of this Agreement. The Owner
agrees to provide thirteen (13) of the Units ( "Low Income Units ") that meet the City's affordability
standard for "low- income ", and twelve (12) of the Units ( "Moderate Income Units ") that meet the
City's affordability standards for "moderate- income," as described in Exhibit A attached hereto.
2. Design of Affordable Units. The plans and Project description, including the location and
])Sq g
Affordable Rental Housing *,ement
Page 2
0
design of the Low Income Units and the Moderate Income Units are attached hereto as Exhibit B.
The Units shall be comparable in design and amenities to similarly sized market rate units in the
Project.
3. Affordable Housing Use and Renter Eligibility. During the Term, the Units shall be used
exclusively for rental housing. The Low Income Units shall be rented only to persons eligible under
the low income standards in the City's Affordable Housing Standards, as determined by -the City's
Community Development Director or the City's Housing Authority, and the Moderate Income Units
shall be rented only to persons eligible under the moderate income standards in the City's
Affordable Housing Standards, as determined by the City's Community Development Director and
the City's Housing Authority. The mix of affordable income units shall not change during the term
of this Agreement, unless the City's Community Development Director determines such a change
meets or exceeds the affordable housing requirement established by City Planned Development
102 -96.
4. Recorded Covenant to Guarantee Affordability. The Owner understands and agrees to
record a covenant on the Property to guarantee the continued use of the Units for rental housing for
low and moderate income persons during the Term (defined in Section 6 below). Said covenant shall
be recorded prior to occupancy of the Project and shall run with the land and shall apply to all
subsequent owners, heirs, assigns or successors in interest of the Property.
5. Rental Cost. The Owner understands and agrees that during the Term, monthly rental costs
for the Units shall not exceed the maximum allowed rental costs specified in the City's Affordable
Housing Standards for the specified income level, including a reasonable allowance for utilities paid
directly by tenant, as specified in the standards. Rental costs may be increased or, where necessary,
shall be decreased to reflect changes to the Affordable Housing Standards, updated periodically by
the City.
6. Term. The term of this Agreement shall commence on the date the first Unit is rented to
persons eligible under the City's Affordable Housing Standards for the applicable income level
( "Effective Date ") and shall terminate thirty (30) years from the Effective Date ( "Term ").
7. Compliance with Affordability Agreement. Failure to comply with the terms this
Agreement shall constitute a breach of the requirements of City Planned Development 102 -96 and
may result in the City initiating action to amend or revoke said use permit or to modify or terminate
the Affordable Rental Housing Agreement and uses allowed under the permit until the terms of this
Agreement have been met, to the approval of the Community Development Director.
8. Employment Status. Nothing in this Agreement is intended nor shall be construed to create
an employer - employee relationship or a joint venture relationship between City and Owner. Neither
Owner nor any of its agents or employees shall be considered to be agents or employees of City in
connection with the performance of the obligations under this Agreement.
9. Inspections. City reserves the right to inspect the Property upon not less than three (3)
business days' prior written notice to the Owner to ensure that the Property is being maintained,
operated, and used as described herein and as graphically shown in Exhibit "A ", consistent with
applicable federal, state and local codes. The Owner agrees to correct all conditions found by such
inspections not to conform to the applicable requirements within ninety (90) days of written notice,
Affordable Rental Housing 1peement
Page 3
•
or if more time is required for such correction Owner shall have additional time for correction so
long as Owner commences the correction within the ninety (90) day period and thereafter diligently
proceeds to complete such correction. Failure to correct such conditions within the cure period
specified above could result in City initiating action to amend or revoke City Planned Development
102 -96, or to modify or terminate uses until the conditions are corrected.
10. Reporting. The Owner shall report to City Community Development Director annually, on
or before July 31st of each year or at such other interval as mutually agreed by the parties, to enable
the City to verify the Property is being used for eligible activities and complies with the terms of
this Agreement. As a minimum, information to be submitted includes:
(a) Tenants' income characteristics for affordable units, length of residency, rent cost of
comparable market -rate units on the Property, and other pertinent information documenting tenant
eligibility and affordability of dwelling units;
(b) Certification by the Housing Authority of the City of San Luis Obispo or qualified
non - profit agency that the Property is being operated to provide housing benefits for eligible low
and moderate persons, consistent with the City's Affordable Housing Standards, and with conditions
of City Planned Development 102 -96.
11. Entire Agreement and Modification. This Agreement sets forth the full and entire
understanding of the parties regarding the matter set forth herein. Any other prior or existing
understandings or agreements by the parties, whether formal or informal, regarding any matters are
hereby superseded or terminated in heir entirety. No changes, amendments, or alterations shall be
effective unless in writing and signed by all parties hereto. This Agreement may be amended at any
time by mutual written agreement of the parties, subject to City Community Development Director
approval, consistent with the conditions of use permit approval or as otherwise modified by
Planning Commission or City Council approval. The Owner specifically acknowledges that in
entering into and executing this Agreement, it relies solely upon the provisions contained in this
Agreement and no others.
12. Laws and Regulations. The Owner agrees that he is familiar with and will comply with all
local and State laws and regulations that pertain to construction, health and safety, labor, fair
housing practices, equal and affordable rental housing.
13. Non - Assignment of Agreement. This Agreement implements the requirements of City
Planned Development 102 -96 and applies only to Owner, and its heirs or assigns of the Property
described in Exhibit A.
14. Law and Governing Venue. This Agreement has been executed and delivered in the State
of California, and the validity, enforceability and interpretation of any of the clauses of this
Agreement shall be determined and governed by the law of the State of California. All duties and
obligations of the parties created hereunder are performable in San Luis Obispo County, and such
County shall be that venue for any action, or proceeding that may be brought, or arise out of, in
connection with or by reason of this Agreement.
15. Enforceability. If any term, covenant, condition or provision of this Agreement is held by a
court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions
hereof shall remain in full force and effect and shall in no way be affected, impaired or invalidated
Affordable Rental Housingleeement
Page 4
thereby.
16. Agreement Binding. All provisions of this Agreement shall be binding on the parties and
their heirs, assigns and successors in interest.
17. Waivers. City's waiver or breach of any one term, covenant or other provision of this
Agreement shall not be a waiver of a subsequent breach of the same term, covenant or provision of
this Agreement or of the breach of any other term, covenant or-provision of this Agreement.
18. Notices. Unless otherwise provided, all notices herein required shall be in writing, and
delivered in person or sent by United States first class mail, postage prepaid to the address of the
respective parties as specified below or at other addresses that may be later specified by the parties
hereto.
Community Development Director
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
Notices required to be given to the Owner shall be.addressed as follows:.
DeVaul Ranch, L.P.
200 East Carrillo Street, Suite 200
Santa Barbara California 93101
Attention: Kenneth P. Slaught
and
DeVaul Ranch, L.P.
1880 Santa Barbara Street, Suite F
San Luis Obispo, California 93401
Attention: Patrick N. Smith
With a copy to:
Seed Mackall & Cole LLP
1332 Anacapa Street, Suite 200
Santa Barbara, California 93101
Attention: David R. Reese, Esq.
19. Counterparts. This Agreement may be executed in any number of counterparts, each of
which shall be an original, but all of which shall constitute one and the same instrument.
Affordable Rental Housing #ement
Page 5
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.
Owner:
DeVAUL RANCH, L.P.,
a California limited partnership
By: Investec Funding, L.P.,
a California limited partnership
General Partner
By: KJR Investments, Inc.,
a Califo is corporation,
GeneralTartner
Uj
By: Irish Hills Investors, L.P.,
a California limited partnership,
General Partner
By: Irish Hills Investors, Inc.,
a California corporation
GeneraR&Ane r
By:
Patrick N. Smith,
President
CI
B ll _
i Xdrginistfative Officer
APPROVED AS TO FORM AND LEGAL EFFECT:
q
Date
STATE OF CALIFORNIA )
) ss.
COUNTY OF San Luis Obispo )
On August 27 , 2001 before me, the undersigned, a Notary Public in and for said
County and State, personally appeared Patrick N. Smith , personally
known to me g) to be the person(o whose
name(s) is /a = subscribed to the within instrument and acknowledged to me that hehd=Mmy executed
the same in his4mMk& authorized capacityoi §�, and that by his,xc pr signature(# on the
instrument the person(# or the entity upon behalf of which the person(* acted, executed the
instrument.
WITNESS my hand and official seal.
STATE OF CALIFORNIA )
(1Z
/ ) ss.
COUNTY OF l� )
On q161 , 2001 befor2,me, the rsigned, a Notary Public in and for said
County and State, personally appeared , personally
known to me ( ) to be the personIN whose
name(o is /are-subscribed to the within instrument and acknowledged to me that he /she/th y executed
the same in his/herlffi T authorized capacity(4'e!9), and that by his/her/their signature() on the
instrument the person(A or the entity upon behalf of which the person() acted, executed the
instrument.
S myjiw4 and
STATE OF CALIFORNIA
COUNTY OF
ss.
•
On , 2001 before me, the undersigned, a Notary Public in and for said
County and State, personally appeared , 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(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.
Notary Public
STATE OF CALIFORNIA
ss.
COUNTY OF
On , 2001 before me, the undersigned, a Notary Public in and for said
County and State, personally appeared , 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(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.
Notary Public
• Exhibit A W
Location/Design of Affordable Rental Units
and
Project Description
PLAN NO.
SQ. FT.
AREA
FLOOR
DESIGNATION
1 AR
450
I
1
Low Income
1 BR
450
II
1St
Low Income
1 DR
450
II
2 nd
Low Income
1 AR
450
IV
151
Low Income
1 DR
450
IV
2 nd
Low Income
1
450
I
151
Moderate Income
1
450
II
1St
Moderate Income
1 AR
450
III
1St
Moderate Income
2 B
691
I
l Sr
Low Income
2 AR
691
III
1 St
Low Income
2 AR
691
I
1St
Moderate Income
2 D
691
III
2 nd
Moderate Income
2 GR
691
IV
1st
Moderate Income
3 D
718
I
1St
Low Income
3 C
718
III
1St
Low Income
3 C
718
I
l St
Moderate Income
3
718
II
1St
Moderate Income
3 R
718
IV
1 St
Moderate Income
4 C
734
II
2 nd
Low Income
4 C
734
IV
2 nd
Low Income
6
1050
I
2 nd
Low Income
6 R
1050
I
2 nd
Moderate Income
6
1050
III
2"
Moderate Income
6 R
1050
III
2 nd
Low Income
6 R
1050
IV
2"
Moderate Income
Low Income Units 13
Moderate Income Units 12
Pa2e 2 of 10
I fly
rL
0 0
EXHIBIT A
AFFORDABLE RENTAL HOUSING
Los Osos Valley Road
II
it
II
11 I
li
cez
ir
Zt i
. f
0 0
Page 3 of 10 EXHIBIT A
AREA I
Floor I
0 0
Page 4 of 10
EXHIBIT A
0
et
A
:J
A
O
3
fo
Area 1
Floor 2
Page 5 of 10
0 0
EXHIBIT A
Area II
Floor 1
0 0
Page 6 of 10 EXHIBIT A
"%Ica ii
Floor 2
Page 7 of 10
EXHIBIT A
•
Area III
Floor I
Mme
•
Page 8 of 10
EXHIBIT A
•
Area III
Floor 2
0 0
Page 9 of 10 EXHIBIT A
Floor 1
I'm.
Page 10 of l0
EXHIBIT A
Area IV
Floor 2
END OF DOCUMENT