HomeMy WebLinkAboutCDC/2001-27
(See Companion Resolution 2001-240)
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RESOLUTION NO. CDC/2001-27
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
APPROVING AN AMENDMENT TO LETTER AGREEMENT WITH THE
CITY OF SAN BERNARDINO REGARDING MAP ASSISTANCE FOR DR.
IRVING M FELDKAMP AND APPROVING AMENDMENT TO AGREEMENT
RE DEPOSIT OF FUNDS
WHEREAS, the Redevelopment Agency of the City of San
7 Bernardino (the "Agency") is organized and existing under the
8 Community Development Law (Health and Safety Code Section 33000, et
9 seo.) and is authorized thereunder to purchase and sell property in
10 order to carry out its redevelopment purposes; and
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WHEREAS, in 1994, the City of San Bernardino (the "City")
13 entered into a Settlement Agreement ("Original Settlement Agreement")
14 with Dr. Irving Feldkamp in connection with the property within
15 Community Facilities District 995 ("CFD 995") owned by Dr. Feldkamp;
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18 WHEREAS, said Settlement Agreement was amended several times
19 to extend the dates of performance thereunder; and
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WHEREAS, in October, 1997 the Agency executed a Letter
22 Agreement (the "Letter Agreement") with the City which was amended in
23 1999 and April, 2001 because the terms of the Settlement Agreement
24 were extended; and
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26 WHEREAS, the Letter Agreement provides that the Agency shall
27 use its best efforts to provide mortgage assistance to all buyers of
28 the Feldkamp lots who qualify for the Agency's Mortgage Assistance
582001 :20825.1
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CDC/2001-27
1 Program ("MAP") in the following years: 1999/2000 - $50,000; 2000/01 -
2 $100,000; 2001/02 - $50,000; and
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4 WHEREAS, the City and Dr. Feldkamp desire to amend the
5 original Settlement Agreement to extend the provision of MAP
6 assistance to: 2002\03 - $50,000; 2003\2004 - $100,000; 2004\05 -
7 $50,000 and the Agency desires to amend the Letter Agreement to
8 provide for such changes.
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10 WHEREAS, in connection with the Settlement Agreement the
11 Agency and Dr. Feldkamp entered into the Agreement Re Deposit of Funds
12 (the "Low and Moderate Income Restriction Deposit Agreement") which
13 provided for the restriction of 22 lots of the Feldkamp Property to
14 low and moderate income in consideration for the Agency providing
15 certain funds to Dr. Feldkamp in connection with CFD 995; and
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17 WHEREAS, the Low and Moderate Income Restriction Deposit
18 Agreement was amended in April, 2001 and the parties desire to again
19 amend said agreement to extend the period within which to record low
20 and moderate income covenants, conditions and restrictions in order to
21 allow the new owner of the Property the opportunity to designate which
22 lots shall be restricted by said convenants.
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24 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION, ACTING
25 ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO,
26 DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
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SB2001 :20825.1
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CDC/2001-27
24 purposes of executing
25 officer of the Agency
26 III
27 III
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SB200l :20825.1
1 Section 1. Execution of Amended Letter Aqreement and
2 Amendment to Low and Moderate Income Restriction Deposit Aqreement.
3 The Agency hereby approves the form of Letter Agreement attached
4 hereto as Exhibit A and the form of Low and Moderate Income
5 Restriction Deposit Agreement attached hereto as Exhibit B with such
6 changes as shall be approved by the Executive Director upon
7 recommendation of counsel.
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9 Section 2. Official Action. The Chairman, Executive
10 Director, Secretary, counsel and any and all other officers of the
11 Agency are hereby authorized and directed, for and in the name and on
12 behalf of the Agency, to do any and all things and take any and all
13 actions, including execution and delivery of any and all assignments,
14 certificates, requisitions, agreements, notices, consents, instruments
15 of conveyance, warrants and other documents, which they, or any of
16 them, may deem necessary or advisable in order to consummate the
17 transactions contemplated herein. Whenever in this Resolution any
18 officer of the Agency is authorized to execute or countersign any
19 document or take any action, such execution, countersigning or action
20 may be taken on behalf of such officer by any person designated by
21 such officer to act on his or her behalf in the case such officer
22 shall be absent or unavailable. The Agency hereby appoints its
23 Chairperson and Executive Director as agents of the Agency for
any and all documents and instruments which any
is authorized to execute hereunder.
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CDC/2001-27
1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION APPROVING AN
AMENDMENT TO LETTER AGREEMENT WITH THE CITY OF SAN BERNARDINO
2 REGARDING MAP ASSISTANCE FOR DR. IRVING M FELDKAMP AND APPROVING
AMENDMENT TO AGREEMENT RE DEPOSIT OF FUNDS
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Section 3.
This Resolution shall take effect upon the
5 date of its adoption.
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I HEREBY CERTIFY that the foregoing Resolution was duly
8 adopted by the Community Development Commission of the City of
9 San Bernardino at an adjourned regular meeting thereof, held on the
10 ____ day of July, 2001, by the following vote, to wit:
11 Commission AYES NAYS ABSTAIN ABSENT
ESTRADA X
12 LIEN X
McGINNIS X
13 SCHNETZ X
SUAREZ X
14 ANDERSON X
McCAMMACK x
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Judith
Commu
of th
is her;7 approved this d671-1
/
<' ' ('tf!te-L--
es, Chairperson
'ty Development Commission
C'ty of San Bernardino
day
The foregoing resolution
of July, 2001.
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By:
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SB2001:20825.1
to form and legal content:
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1 STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )ss
2 CITY OF SAN BERNARDINO )
3 I, Secretary of the Community
Development Commission of the City of San Bernardino, DO HEREBY
4 CERTIFY that the foregoing and attached copy of Community Development
Commission of the City of San Bernardino Resolution No. is
5 a full, true and correct copy of that now on file in this office.
6 IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of the Community Development Commission of the City
7 of San Bernardino thi s day of , 2001.
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Secretary of the
Community Development Commission
of the City of San Bernardino
882001:20825.1
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, Oi)\ '
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EXHIBIT A
July
2001
Redevelopment Agency of the
4 City of San Bernardino
201 North nE" Street, 3rd Floor
5 San Bernardino, CA 92401
6 Re: Mortgage Assistance for Feldkamp Properties
7 Dear Mr. Van Osdel:
8 By this letter the City of San Bernardino (nCity") and the
Redevelopment Agency of the City of San Bernardino (nAgency") hereby
9 agree that pursuant to the Fifth Amendment to Mutual Release and
Settlement Agreement between the City and Irving M. Feldkamp III
10 (nDeveloper") dated as of July 23, 2001, the Agency shall use its best
efforts to provide mortgage assistance to all buyers of the subject
11 lots who qualify for the Agency's Mortgage Assistance Program (nMAP") .
However, MAP funds will be available on a first come first serve
12 basis. Under the MAP, the Developer's buyers will receive assistance,
if available, of no more than the following amounts in the following
13 years: 2002/2003 - $50,OOOi 2003/04 - $100,OOOi 2004/05- $50,000.
14 In the event the foregoing amounts are not used by Developer's
buyers in the years granted, said amounts shall not be carried
15 forward, and thus shall not be available to the Developer's buyers in
any subsequent year. The foregoing grants shall be subject to all of
16 the terms, conditions and qualifying criteria as may be specified in
the MAP as such terms, conditions and criteria exist at
17 such time and consistent with the requirements imposed by the funding
source and other discretionary criteria as may be established by the
18 Agency. Developer shall not receive any waivers of terms in
connection herewith.
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Very truly yours,
CITY OF SAN BERNARDINO
By:
23 Judith Valles
Mayor
24 AGREED AND ACCEPTED:
25 REDEVELOPMENT AGENCY OF THE
CITY OF SAN BERNARDINO
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By:
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SB2001:20825.1
1 Exhibit B
2 SECOND AMENDMENT TO AGREEMENT RE DEPOSIT OF FUNDS
3 This Second Amendment to Agreement Re Deposit of Funds (this
"Amendment") is entered into this 23rd day of July, 2001, by and
4 between the Redevelopment Agency of the City of San Bernardino, a
public body ("Agency") and Irving M. Feldkamp III or his assignees as
5 herein provided ("Developer") and hereby amends that certain Agreement
Re Deposit of Funds dated July 28, 1999, as amended by that certain
6 Amendment to Agreement Re Deposit of Funds dated April 1, 2001, as
follows:
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The last paragraph thereof shall be deleted and the following
8 paragraph shall be added:
9 "The parties hereto agree to execute Conditions, Covenants and
Restrictions ("CC & R' s") and within a reasonable period following
10 execution hereof which period shall not exceed nine months) said CC &
R's shall be recorded in the County Recorder's Office of the County of
11 San Bernardino against 22 lots of the Property."
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THE REDEVELOPMENT AGENCY
CITY OF SAN BERNARDINO
OF
By:
Gary Van Osdel
Executive Director