HomeMy WebLinkAboutD-1645 1144 Walnut Street - 001-207-015 Recorded 04/27/2005•
RECORDING REQUESTED BY
61bNs n
WHEN RECORDED MAIL TO
SP.� ���s 6b►spo CA A
r
JULIE RODD
San Luis Obispo County— Clerk/Recorder
Recorded at the request of
Public
H O C #: 2005033446 Titles: 1 Pages: g
Fees 0.00
Taxes 0.00
Others 0.00
PAID $0.00
AR
4/27/2005
12:36 PM
DOCUMENT TITLE
G►�'T
�� ��
Recordin g by Requested q Y
and when recorded return to:
City of San Luis Obispo
Community Development Department
990 Palm Street
San Luis Obispo, CA 93401 -3249
is
Recorded for the Benefit of the
City of San Luis Obispo) at No Fee Under
Section 27383 of the Government Code
AGREEMENT BETWEEN THE CITY OF SAN LUIS OBISPO
AND THE COURTYARDS ON WALNUT, LLC TO PROVIDE AFFORDABLE RENTAL
HOUSING LOCATED AT 1144 WALNUT STREET'
This agreement is made and entered into on July 6 , 2004, by
and between The Courtyards on Walnut LLC (herein
referred to as "property owner "), and the City of San Luis Obispo, a municipal
corporation and charter city in the State of California (hereinafter referred to as "City ")
WITNESSETH:
WHEREAS, the property owner has received development approval for
a 17 -unit common interest subdivision ; and
WHEREAS, as required by the Inclusionary Housing Ordinance pursuant to
Council Resolution No. 9297, the property owner is required to provide 1 affordable
rental housing unit, pursuant to the City's Affordable Housing Standards; and
WHEREAS, prior to issuing construction permits for said development 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 property owner agrees to construct
and make available 1 affordable rental housing units, located at
1144 Walnut Street, Unit 7 , CY SLO BL 35 PTN LT 4 HATHWAY ADD PTN BL 7 -
APN 001 - 207 -015 (new subdivision map recorded in the Office of the County Recorder
at Book 24, Page 54, 55 and 56 on October 26, 2004), in compliance with the
Inclusionary Housing Requirement, during the term of this agreement. The property
owner agrees to provide 0 rental dwelling units that meet the City's affordability
standard for "low- income" and 1 rental dwelling unit that meets the affordability
standard for "moderate- income."
2. Design of Affordable Rental Units. The property owner agrees to provide
1_ affordable units in the locations designated in Exhibit "A" or as amended with the
Community Development Director's approval. Said dwelling units shall be comparable
in design and amenities to similarly sized market rate units in the same development, to
the approval of the Community Development Director.
3. Affordable Housing Use and Renter Eligibility. Said affordable housing units
shall be used exclusively for rental housing for the term of this agreement.. Said units
shall be rented only to persons eligible under the income standards in the City's
. Affordable Rental Housing *ernent
•
Page 2
Affordable Housing Standards for the appropriate income level, as determined by the
City's Community Development Director, the City's Housing Authority, or by the
property owner. The mix of affordable income units shall not change during the term of
this agreement, unless the Director determines such a change meets or exceeds the
Inclusionary Housing Requirement.
4. Recorded Agreement to Guarantee Affordability. ': Property owner
understands and agrees to the continued use of the property for rental housing for low
or moderate - income persons for.a minimum of 30 years from the date of execution of
this agreement. Said agreement shall be recorded prior to occupancy of the
development project, and shall run with the land and apply all subsequent owners,
heirs, assigns or successors in interest for the subject property.
5. Rental Cost. Property owner understands and agrees that during the term of
this agreement, monthly rental costs for the designated affordable units shall not
exceed maximum allowed rental costs specified in the City's Affordable Housing
Standards for the specified income level. Rental costs may be adjusted to reflect
changes to the Affordable Housing Standards as updated by the City.
I
6. Term. The term of this agreement shall commence on the date first above
written and shall terminate thirty (30) years from that date.
7. Compliance with Affordability Agreement. Failure to comply with the terms of
this agreement shall constitute a breach of the requirements of the Inclusionary
Housing Ordinance and may result in the City initiating legal action as authorized by the
Municipal Code of the City of San Luis Obispo, 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 "project ownerNeither The courtyards on walnut, LLc nor any of
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 premises upon reasonable
notice to the property 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 property owner agrees to correct all
conditions found by such inspections not to conform to the applicable requirements
within 90 days of written notice, or such period as determined by the' Director.
10. Reporting. The property owner shall report to the 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 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:
Affordable Rental Housing Sernent
Page 3
•
(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.
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 their 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, subject to City
Community Development Director approval, consistent with the Inclusionary Housing
Requirement.
The property owner specifically acknowledges that in entering into and executing this
agreement, he relies solely upon the provisions contained in this agreement and no
others.
12. Laws and Regulations. The property owner acknowledges that he(she) 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 opportunity and all
other matters applicable to maintaining sound, safe and affordable rental housing.
13. Non - Assignment of Agreement. This agreement implements the requirements
of the Inclusionary Housing Ordinance and applies only to property owner(s), heirs,
successors, or assigns for property described in Exhibit "A." The property owner shall
not assign or transfer this agreement, or any part hereof without the prior written
consent of City, and any such assignment or transfer without City's prior written consent
shall be considered null and void.
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 the City San Luis Obispo, County of San Luis Obispo, 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 thereby.
Affordable Rental Housing *ernent
Page 4
ii
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. Notices required to be given to City shall be addressed as follows:
Community Development Director
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
Notices that are required to be given to the property owner shall be addressed as
follows:
John M. Wilson, Manager
The Courtyards on Walnut, LLC
444 Higuera Street, Suite 200
San Luis Obispo, CA 93401
Provided that any party may change such address by notice in writing to the other
parties and thereafter notices shall be transmitted to the new address.
IN WITNESS WHEREOF, the parties hereto have executed this agreement as of
the day and year first above written.
PROPERTY OWNER:
L81.
u
F1.1
John M. Wilson, Manager , Property Owner
THE COURTYARDS ON WALNUT, LLC
APPROVED AS TO FORM AND LEGAL EFFECT:
Jo at Lowell, City Attorney Date
1f •
Affordable Rental Housing Agreement
Page 5
ATTEST:
d,ey.Hooper, ity Clerk
�.•` ^' "'°" '�` `` ALL IGNATURES MUST BE NOTARIZED
State of California
County of San Luis Obispo }
On before me,
Notary Public, personally appeared
known to me or ( ) proved to me on the
whose name is subscribed to the within in
executed the same in her capacity, and t
person or the entity upon behalf of which the
Witness my hand and official seal.
Notary Public
( ) personally
s of satisfactory evidence to be the person
,ument and acknowledged to me that she
It by her signature on the instrument the
son acted, executed the instrument.
( ) individual(s) ( ) corporation ( ) partnership ( ) attorney -k -fact ( ) political agency
•
STATE OF CALIFORNIA )
)ss
COUNTY OF SAN LUIS OBISPO )
�J
On April 13, 2005, before me Audrey Hooper, City Clerk, personally appeared Ken Hampian,
(City Administrative Officer), CITY OF SAN LUIS OBISPO, 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.
• � Signature � '
C Clerk
(This area for official City Seal.)
STATE. OF California
COUNTY OF San Luis Obispo
On �e� Ne r before me, Nicol R. Zundel, Notary Public
AA W �
(Name, Title of Officer)
personally appeared ,e10 �1V.\
n % • i 1 ,,jQti
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.
NICOL R. ZUNDEL
Commission #1404601
E Notary Public
California
SAN LUIS OBISPO COUNTY
My Commission. Expires March 9, 2007
(This area for notarial seal)
O A 5 1 5
LANDSGAPL
ARCHITCCTURC
AND PLANNING
� M—wo
3G7 MICL"O V
LNLw ce5 o
CAIiOPNW r
TRACT 2447- COURTYARDS ON WALNUT
EXHIBIT A
NO SCALE
7/06/04
END OF DOCUMM