Loading...
HomeMy WebLinkAbout1986-175 . . -. SBE069-50/1711S/sg 05/07/86 #8 RESOLUTION NO. 86-175 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE ISSUANCE BY THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO OF $25,850,000 OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO MULTI-FAMILY MORTGAGE REVENUE BONDS (UNIVERSITY PARK APARTMENTS PROJECT) SERIES 1986 AND MAKING CERTAIN DETERMINATIONS RELATING THERETO WHEREAS, the Redevelopment Agency of the City of San Bernardino (the "Agency"), is a redevelopment agency (a public body, corporate and politic) duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Community Redevelopment Law [Part 1 of Division 24 (commencing with Section 33000) of the Health and Safety Code of the State of California] (the "Community Redevelopment Law") and the powers of the Agency include the power to issue bonds or notes for any of its corporate purposes; and WHEREAS, the Community Development Commission of the City of San Bernardino (the "Commission"), on behalf of the Agency, is authorized by the Community Redevelopment Law to issue and sell its multifamily mortgage revenue bonds or notes for the purpose of enabling developers to pay the costs of financing the development of multifamily rental housing located within survey areas and redevelopment project areas of the Agency; and - 1 - WHEREAS, Carousel Development and Associate, a California general partnership, or its successors or assigns (the "Applicant"), has previously submitted a certain application (the "Application") to the Mayor and Common Council of the City of San Bernardino, California (the "Mayor and Common Council"), for tax-exempt financing for a certain multifamily rental housing development pursuant to Ordinance 3815, as amended, and the Applicant has previously requested the Agency to issue and sell its multifamily mortgage revenue bonds for the purpose of providing financing for the acquisition and construction by the Applicant of a multifamily rental housing development as more fully described in said Application (the "Proj ect") pursuant to the Community Redevelopment Law without any liability to the City of San Bernardino, California (the "City"), the Commission or the Agency whatsoever; and WHEREAS, the Agency and the City have approved and adopted the Redevelopment Plan for the State College Redevelopment Project pursuant to City Ordinance No. 3067, dated April 27, 1970 (the "Redevelopment Plan"); and WHEREAS, the Project consists of the acquisition of land and the construction thereon of approximately five hundred forty (540) apartment units located in the redevelopment proj ect area of the Agency known as the State College Redevelopment Project on an approximately forty-three (43) acre site in the University Park section of the 600 acre master plan development known as Shandin Hills, on the north side of Kendall Drive, and approximately one and one-half (1-1/2) miles west of Little Mountain; and - 2 - WHEREAS, pursuant to Resolution No. 84-383 of the Mayor and Common Council, adopted on October 1, 1984, the Mayor and Common Council has previously declared its intent to issue multifamily mortgage revenue bonds in an aggregate principal amount not to exceed $32,000,000 for the purpose of financing the Project; and WHEREAS, pursuant to its Resolution No. 4770, adopted on June 17, 1985, and entitled: "Resolution of the Community Development Commission of the City of San Bernardino Declaring its Intent to Issue Multifamily Mortgage Revenue Bonds (Carousel Development and Associates Project)" the Commission has previously declared its intent to issue multifamily mortgage revenue bonds in an aggregate principal amount not to exceed $32,000,000 and to authorize such financing by the Agency for the aforesaid purposes and for the Project pursuant to the terms and conditions of said Resolution No. 84-383; and WHEREAS, the City Council, by adoption of its Resolution No. 85-237 on July 2, 1985 approved the substitution of Cal-Shel, a California limited partnership, or its successors or assigns (the "Developer") for the App licant as the beneficiary of said Resolutions of the Mayor and Common Council and the Commission, approved the findings and determinations to be made in connection with the public hearing as required pursuant to Section 103(k) of the Internal Revenue Code of 1954, as amended (the "Code"), and declared its intent that the Developer be the beneficiary of said pUblic hearing and that bonds be issued in an amount not to exceed $25,000,000; and - 3 - WHEREAS, the Mayor and Common Council, by adoption of its Resolution No. 85-504 on December 2, 1985, approved certain conforming amendments to the Application to effect, in view of certain increases in the total anticipated cost of construction of the Project, an increase in the aggregate principal amount of tax-exempt financing for the Project from $25,000,000 to $27,000,000 and set a public hearing on the issuance of the multifamily mortgage revenue bonds and has authorized the publication of notice thereof which has been duly published in The Sun; and WHEREAS, the Mayor and Common Council by adoption of an appropriate Resolution on December 16, 1985 approved the findings and determinations to be made in connection with said public hearing as required by Section 103(k) of the Code; and WHEREAS, in order to finance the loan by the Agency to the Developer for the Project, the Developer has been presented with a commi tment letter from SCA Tax-Exempt Fund Limited Partnership, a Delaware limited partnership, dated May 1, 1986 and on file with the City Clerk and incorporated herein by this reference, and any amendments or supplements thereto acceptable to the Developer and the Agency, pursuant to which tax-exempt revenue ~onds may be issued by the Agency by adoption by the Commission of an appropriate Resolution (the "SCA Financing Commitment"): and WHEREAS, the Developer has requested the Agency, the Commission and the Mayor and Common Council to (i) authorize the - 4 - I r issuance of tax-exempt obligations by adoption of appropriate Resolutions and (ii) issue and deliver the tax-exempt obligations to finance the Project conditioned upon the execution and delivery of the required documentation by the Chairman, Secretary and/or Executive Director of the Agency and the final approval of all documentation by the Agency Attorney; and WHEREAS, the Commission, acting on behalf of the Agency, has informed the City that the Commission plans to adopt its Resolution entitled: BOND RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO, ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, PROVIDING FOR A PRINCIPAL AMOUNT NOT TO EXCEED $25,850,000 OF REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO MULTI-FAMILY MORTGAGE REVENUE BONDS (UNIVERSITY PARK APARTMENTS PROJECT) SERIES 1986 ; and WHEREAS, under and pursuant to the above Resolution (the "Resolution of Issuance"), the Commission, on behalf of the Agency, will authorize the issuance of an aggregate principal amount not to exceed $27,000,000 of "Redevelopment Agency of the Ci ty of San Bernardino, Multi-Family Mortgage Revenue Bonds (University Park Apartments Project) Series 1986 (the "Bonds") pursuant to the terms of the SCA Financing Commitment subject to approval and execution of all final documentation by the Chairman, Secretary and/or Executive Director and approval of all final documentation by the Agency Attorney; and - 5 - . . WHEREAS, pursuant to the terms of the SCA Financing Commitment, Shelter Corporation of Canada, Ltd. is required to sell its general partnership interest in the Developer to Carousel Development, Inc., one of the limited partners of the Developer, and the Developer hereby requests the Mayor and Common Council to acknowledge and consent to such sale; and WHEREAS, on September 18, 1985, the Developer recorded upon the Project site a certain regulatory agreement dated September 1, 1985, which agreement was recorded with the County Recorder of the County of San Bernardino as Instrument No. 85-229887, pursuant to which the Developer covenanted to commit twenty percent (20%) of the multifamily units of the Project for rental to individuals and families within Sections 167(k)(3)(B) and 103(b)(12)(C) of the Code; and WHEREAS, in furtherance of the transactions contemplated by the Resolution of Issuance, the Developer has requested the Mayor and Common Council to approve a certain First Amended and Restated Regulatory Agreement in connection with the Bonds (the "First Amended and Restated Regulatory Agreement"), in form as on file with the City Clerk; and WHEREAS, it is the intent of the Mayor and Common Council that all necessary documentation for the Project be approved as to form and authorized to be executed at this time and that all documents pertinent to the issuance of Bonds by the Agency be approved and adopted at this time subject to the above conditions. - 6 - NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: Section 1. Conditional Approval of Issuance of Bonds. The issuance of an aggregate principal amount not to exceed $25,850,000 of the "Redevelopment Agency of the City of San Bernardino, Multi-family Mortgage Revenue Bonds (University Park Apartments Proj ect)" is hereby authorized and approved pursuant to the Act subject to the approval and execution of all final documentation pertinent to the issuance of the Bonds by the Chairman, Secretary and/or Executive Director and the approval of said documentation by the Agency Attorney. The Mayor and Common Council hereby acknowledge and consent to the sale by Shelter Corporation of Canada, Ltd., of its general partnership interest in the Developer to Carousel Development, Inc., pursuant to the terms of the SCA Financing Commitment. Section 2. Approval as to Form of Aqreement. The Mayor and Common Council hereby approves the form of the First Amended and Restated Regulatory Agreement and further authorizes the execution of the final form of the said Agreement when the same shall be presented for execution by the Mayor and City Clerk or such other appropriate Ci ty of f ici aI, subj ect to such changes, addi tions or deletions and may be recommended by the City Attorney and Bond Counsel. The execution thereof by the Mayor and City Clerk or such - 7 - other appropriate City official shall be deemed to be conclusive as to approval thereof by and on behalf of the City. Section 3. Obligation of Agency. The Bonds shall be and are special obligations of the Agency, and, subject to the right of the Agency to apply moneys as provided in the applicable laws, are secured by such revenues as are specified in the proceedings for the issuance of the Bonds and funds and accounts to be held in trust, and are payable as to principal, redemption price, if any, and interest from the revenues of the Agency as therein described. The Bonds are not a debt of the Agency, the City, and the State of California or any of its political subdivisions, and neither the Agency, the City, the State, nor any of its political subdivisions is liable thereon, nor in any event shall the bonds be payable out of the funds or properties other than all or any part of the revenues, mortgage loans, and funds and accounts as in this Resolution set forth. The Bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. Neither the persons serving as the Members of the Commission or the Mayor and Common Council nor any persons executing the Bonds shall be liable personally on the Bonds or sUbject to any personal liability or accountability whatsoever by reason of the issuance thereof. Section 4. Compliance with the Code. The Developer shall provide appropriate covenants in the documents to be executed by the Agency and/or the City in a form acceptable to the Agency Counsel and Bond Counsel and to assure that twenty percent (20%) or more of - 8 - the multifamily rental housing units are occupied by individuals whose income is eighty percent (80%) or less of the applicable median gross income, all as provided in the Code. Section 5. Covenants Runninq with the Land. Prior to issuance of the Bonds pursuant to the Resolution of Issuance, the Developer shall provide to the Agency, for recording, a covenant running with the land in form approved by the Agency whereunder the Developer (i) waives any entitlement under State law to a density bonus for the Project site and (ii) agrees not to seek or accept any other forms of public assistance for the purpose of financing the Project including, but not limited to, tax-increment financing from the Agency. Section 6. Scope of Approval. The approval as herein granted and the financing of the Project are specifically condi tioned upon the Mayo r and Common Council approving the fina I environmental assessments and other environmental documents prepared or to be prepared pursuant to the provisions of the California Environmental Quality Act of 1970, as amended ("CEQA"), with respect to any and all environmental conditions with regard to the operations of the Project as proposed by the Developer. All such assessments and documents needed to comply with the provisions of CEQA shall be the sole responsibility of the Developer. Adoption of this Resolution shall not be construed as approval of the plans or concept of the Project, nor as an indication that the Mayor and Common Council will hereafter take any particular action toward - 9 - . . granting any planning, zoning, or other approval relating to a plan of development. The Mayor and Common Council reserve their right to evaluate any future administrative procedures and appeals based solely on the information available at the time of consideration, including any actions or recommendations by or appeals from the Development Review Committee and the Planning Commission. Nothing herein shall be construed as advance commitment or approval as to any such matter, and the Developer is hereby notified that normal planning processing shall be required, in accordance with the standard procedures of the City and that the Developer will be requi red to comply with all applicable laws and ordinances of the City, State and federal government. Section 7. Change in Law. The issuance of the Bonds of the Agency for the Project as authorized and empowered by the Act shall be subject to any changes in applicable laws, ordinances or regulations of the State and federal government including, but not limited to, the imposition of any calendar year volume limitation on the issuance of multifamily mortgage revenue notes or bonds. Section 8. Conformance with Policy Guidelines. The approval as herein granted and the final approval of the Project are specifically conditions upon the conformance of all documents required to be executed and delivered by the Agency and/or the City to the "Policy Guidelines on Public and Negotiated Bond Sale Procedures for the City of San Bernardino and the Redevelopment - 10 - Agency of the City of San Bernardino" as said Policy Guidelines are on file with the City Clerk. Section 9. Effective Date. effect upon adoption. This Resolution shall take - 11 - I HEREBY CERTIFY adopted by the Mayor San Bernardino at a held on the 19th the following vote, to that the foregoing and Common Counci 1 reaular day of wit: resolution of the meeting Mav was duly Ci ty of thereof, 1986, by AYES: Council Members Hernandez. Quiel, Frazier, NAYS: ABSENT: day of The foregoing Mav Approved as to form: (/2 f?, -" )JI,I,-4..,.;,_,,~ . ~,j..td">:.-...., / j' .........,:'-;;;j...'!:~~ F City Attorney resolution is , 1986. Strickler Council Member Marks Council Member Reilly ~//?b?$;hb Ci ty Clerk hereby approved this or/o the City of Bernardino I'::' tel Jc '~v> ,.20 'Ci... . ~ ... ~ m ~ ~ ~ ... ... m ~ ~ ~ m ". ~<> , '" . ~ ~ ~ ~ ~ .., _.- ~ ...- ~..:::o ... m ... m '" m ~ ~ '" ~ ~ ~ ~ . ~ <> ~ c ~ .. '" ~~ .....~ m ... ~ I'D ;;. ~n C ~ =: IV Ii. ...~.. .. ~ ~ . ~ ~ m ~. ... .. .. ~ ~ ... .. .. ... ~ ~ c - .. x . n .. .. ... m ~ ... .. ~ ~ ia-- < -. ............ ... - .. '" '" m ~ - <> ~ ~ z C> - "" "'" "'" "" "" ..,., ..,., Be:; "" "" '" '" nn - - ." ." """" '" '" ~ '" """" >> z "'- '" - !" _-.0. 0- .... _N !",O ""~ 0- "" ." - '" C> ""- c.. >> "" 0- n", - "" "'" ". C> Z - '" 0- ~ ". >> '" '" "" - '" "" z - NN 0- uo "'''' (...Ut - -0 -- ...."" "'.... uo - o o "" "" "" , , "" "" "" "" ~~ """" "" C> ~~ N'" , , """" >> >> -- '" '" N , "" "" "'" '" "" "" ". - N , "" ... - '" .~ , "" .., '" '" "" C> ". - '" , "" >> - '" - ",NO'- _ Ct'- 0-...0 ........<:>t-.:a........N - - oOmm....,....,O'" ...... ...., ..0 UI ...., ...., (.II L,tIl.nm..amCDN ????:="?? ~~~~~g;~ o-Ct'-c.nUl............ NN_e,...lo-o- ~~....,~~~::--' C,ltUl....,c.nmCDN oocomc>oco UlUI;::;~(A<A~ ........ ",,0 ~~ tll;;l uo uo .... "" f>~ 0'" o uo (A c...I VI "'" ~ "'" (A "" (A c...lI ~~c.n~~ 000000 000000 .... 0- "'........ (,.olI N __e,..Ic.IINN_ ........ _...... -.Q CD...., - - - .. - - - .....,-Ul.O......,.." .... -0 ..0 ...... _ ..0 ...... ~~?~~:O:- ~~N~gU~ .~ . "" .., "'" '" "" "" ". - , "" ... - '" '" , , """" .., "" "''''" '" '" "" C> "" C> ~~ - , , """" >> >> - - "'''' uo "" !'" N uo -... ""'''' N."" . .' uo .... o uo ""N ~~ '" L" uo 0 c z - - ~ ." .., "" ..,., z c c ~~ - "" '" '" c ;!; - ~~ ~ .., ;;;' ~ - _ c 1:~ - -'" ~ .., z - ". >> '" '" .., '" z .., - - '" .., - , >> ...., ~? ",0 ..,0 ... '" .., '" z.., - - , ~ >> :!l '" "" "" , 0 ... '" .., '" z.., -- . >> '" "'" .., ~ ~ o ... :!l ~ .., ". "" Z - '" 0- - - "''''' .., - '" >> - 0- '" n '" .., '" C 0- "" "" ..,., ". >> '" '" .., - '" .., '" "'" '" i!i! "'" '" .., - , >> '" ... '" .., "" ~ - '" ..,., >> ". '" - ;0 ,-, "" -0 ~~ OJ!! ....0 ~~ z~ ",z ,..,..... ""> zC) >,.., ""z 0,-, z-< 00 . .... ,-,..... "=c: ,.., -r- I" '....1, ... to 00' 0"1 .... , '" .. ... , "" 0- c z ~ "" :!l - -< ..., >> '" '" ~ ffi CS'?> lFiiiJ ::r- :s: ::0 l:\:l <:> = ~ lFiiiJ ;,:==::J J '.1 !~ i :1 1~;1~mr-' : I' " il t,; Ii !i :; 0, " j; Ii Ii I' l-l I' n jj .. t,; " .. 1 ~ 'I ,. L "."".:~'t~1.:~'~~_";,,r':~\,,_"<,v"""'~1-' ,. ~' t ."..,,,,<""....,.., ~ ... ... ,.... ..... .'""" U iiIUUig~i1i !i , " I ~ . , , ~...;6~~'i!ll~~! , ! - ~~ 5 ~Q :;; -!i;ll~ a-- ~ , ii tllil .....~..; = .Ii , ;!!~ -i!l" ~ illil ~ i " !~ i!l~ !_ ~ : Ii rn;: Ii =- . " , ~ ill~ ~ 1ft ~ ! ;0 ~- - It c . = ~ . , - " , ~ - , m lil 1- ,;!! 'ill 1m !'" a " " " n " " " " II " " " :1 It ........ II - - II c..I"" H-~P un " 'I I: CD H'NS! :1::'..0 II" ... ll~= II U1_ " :: " . A ~ " . rl 'i~ U _m llE~ II U H <> i S: ~ Yl'!- m_ " w. oo_m n t, ....,..J ~- c. ~8: m~ l!!. ':..i: l!i~ U1_ .... ;::~t;;!9~ U!~~ ~w r:~ ~w 1:~ ~w ~o. t;:a:! i~ ~i: ~~ ~w t1~ w. w. No. S'" ~- ~S-- -. -- w~ w- :-...- -- ~- -~ -- c. ~5 -- ~- _0. l!!'" ii;:: ':...0. ~- ~~ _w --......-;". ~~ w_ :"'~ w_ ~~ w_ ~w WO- ~~ w_ ~w ~a.. ~~ w_ _w wo. t:a:! ;'l~ w_ ~- w. - 0. """2 ~::n~o ~fil~! Jj~ ~g r:l:g fili !:l ~ r:lg ~i " r:lg fili ~ ~ c ~ r:l:g fil~ ~ - ~<ll ~c i:l~ <; ~ ~ - r:lg ~g ~c <; ~ ~ ~ r:ll!i ~~ '3 ~ ~ ~ ~~ ~c ~g ~c "l ~ ~ r:ll!i i::!i: ~c c - ~ - ~<ll ~c ~g ~c '3 ~ C ;: r r'\ f"I i 3 , m . \ ~ , Ii ~ - ~ ~ ~ ~ ~ ~ - z 1 .;;;",( i ~ . ~ - C ~ ~ ~ ~ - .,,:~..:'r..~.. m <; = ;:; EX/U,/f' \IQII ~ g~ j!~ _i" ~- ~~ m;ll -= i= -~ Ii m Ii i1 " II " Ii OZI h=~ II wLII_ I' -- II : a:: :: " " " 11.=0.:- :: ~8 11~':- II mo- Il !:.c:~ " " 'I Ii ~ F-:: ,,~- um- H~~ II II .1 ~_ II;,. .. I. :a: ,,- - I: :I~ 11....- " " " " " ~ :1~:- ,,~o "~W "~O .. - - " .-UI II ....,-0 !! l.II~ " , i $I::> I 11....,0 I II ~a: I II _ - !!gt'i " " " " " " II I' :1 " 1: " i' !: i ~ I: it ~~~- .1:"'-- ^ ~ ii;;:;;=J;;>>J;;~ani ~~=Q"':!1);:::a;!i!o ~mm_F:D"" ....-1 ,....::a..... .... ""!i:.!:l! ...;l'l.fI1!iIll"l;'" :::-;llUl!l a~::::::~ Si!im...! on !iii 3~onii_ u: ~~ iii ~M - ~~ ~ ~~~ ~- - :i! - Ul m ~ ~ w ""' :0 ~ ji;: -~ l::~ ~w we.. U~ w~ ~w c.....o- U~ W~ ~w ~~ w~ ~w "i='2:; w~ ~ .~ 1l l:l~ NO ~o ~o So: c..c.. l!l~ ~w l1~ W~ ~ "l l:l~ Ng l:lo =- ;-'~ -~ ~~ ~~ ~w 'i::~ W~ ~ :;; ~ ~;j ~o No. ~o ~o ~- ~~ ~i: ~~ ~ 0_ ~~ b:~ :,!- ~~ i~ ~ ~ ~ l:lg ~! "l ~ .~ o ~ ~:S '"...:.0 ~o ~ 0 ~ "l l:l~ b'S ~o ~ W~ ~8~gg!j;j~8~i ~H~~~~~~~~ , , , , I~ l'l :1" ~ ;; ~ = a; ~ ~ ~ ~ " i[ . ;;: ::; : ;;; 0: ::; a; ~, n ill ~ 5 :;; - :;; . z: , = ~ Ii! = '" o - m ~ m ~ 'i ~ ~ ~ ~ >> z i ~ o Z o , u ~ o 'i: >> = i c ~ I ~.. , , i + 1 L' . '\ h - ., ill:: ~ .~ ... i; ct ~ I t . I- h .. -=i -, .. f' .1. i: z. ~ :J;I " - j. ..I .."oj. . ~ ... . 0 I~ l- . ~;, ei-0biJ "l, , I II /l 'I . r':'-~ NOI.L:>3S SSO~:> lV:>ldA.L -.-- ..._) - ---..~ . -.--....... _...,...,-...,-- ....-.... ~~- .-................,..'3 .......... ----~-=-:.: ......-....---- ,....-..,.,.-> . , --j ~ I I'-- --- ~,~-- t - -1 yo ~', :!' , -....:::. e -~-:::::~.,; ~.._----.~_. -.."""...........-...- --~ I -I h . - i', 3'i , . ," '.. ..--...-...... -..-~ .,-, ..... '-".~ a.__.':=:;~:'".:.~ ~. ..........", .............. ._.w.~, .'v_,'_ .--......,-. ,p-,.. r l'l I :1' I , i , I i ! I I " J -:~:.~ .., ., a~ !~ .. " , .1 . . I i , I; ..~ p - .2. ~ .~ ._.1, . - , , , l&J I- Z~ ....,> .....lr ..- r ,- :'Co.- __no ...... r I ~ c... .1 . ~I .. L ! . . , ! I I % , ~ ,!, : Ii. . . . . Z' ! .; . . - ' ~ - i!i I ill :~ ~ 'I'~ ~: . ~:::>.' , , , , I o "',- N ct , ~ ~ i m ~ ~ l. b ! ~ ! en z ct ..J a.. a: o 9 u.. ~L"'"' '/ '~ IT! " ~ I f' j. I :$ 'f l> . "'-It: ~ ~. f\ !~iil!!!!,;;",,,,,nll' r ' If. . . ., .~ \ or "-,,,,,,,,1 'I ~oL "., .... 1 ,'..'.. i,J~:,1 '\'. Ii, . ::::: "''' 'Iii''' Iii !m' , 0...... TI 1;::0<1: i: : iiiii ::i:i: "II'ltU U I I~ r rl t:!t' . ~;:;; ~ .. . ........... U III I ' . !.;:< .-;- ,,"" '.:':' " ;;;;; . ;;;i: "i 'I', I Ii , ~ I:: ::J ,I.." .;;' " . . : \ . !l I .' ,~.. "J '" , " , !,f.:,,~, n&'i'''' ~ ~.::II . ' l~r...:tt~'tH"~'~' ',':I\>.\~ ,:..;J? \ lIlul'I/nll': · J ...~ ~ ;,t') 11'":' III ,'Iulll"",:'l, .~, ~[~~. . .'~' Gi~..'/I.. ''''' Jfif WI' :I I!!!!!'II'II~ .Fi- Il'1'.. ij:" ' II .Jm'.. f . E ' . '.7 . .'~ ii' 11lI! I;; ,ii ,.', F ::\1' ..;., ','/. ~. '. '.,' ".~ . -, II II ........., ," ~ i+-i:!M{:'" '\. hln ...... ' :: " ~ C e' '.dr>'" "1:1:t' ~ ,.'..,' !!l!! ;;;; i" !;; ~i ~:,;,;~.e~ \. ~m~" '7!1r/I:"X '. .;"'~'''''' I,;;; :Wi'lIIl11 ." , :~)j ..". .~:-x.;:..-., . ,Id' .;.:.:mm : , r' "" ;;;~~'!II1lI . ~:; .: ~~~' ,,';/. ;,... . ~ .~~'\. lIIill ~o/-;~ ~ ..1 ~''TI~' . , ' . ~ '\. V/''';;f-: ~'L..:::j ",,,,l...LJ.' ,-.: I~ ~'1 '1tI+'~...T fVf.; iiJt. ".::~ '~'''< .~. ,\,"".. 'I f-' 'f!li4'" ~I".--T" '\. - "~. A\.. " I( : I,... "::: : . .,.o.'l,;; ~l.(-' i '" .. ,,; '\ '. illl ~ ,~ ," . .,-=::r ' .~;1' 'r,~~' . ~,/.l' ~.v-o I ' ,I n< .,. ...~.""" ~ .r' ., ' !ll!f1i :,;:,Ol';~~~ t~.. ',' ",;;.. '" %~' .:. ~O~ ~~t ,/.. ,,' . . ,~ ~1-'" ."..' ~"". I >-..11 ~. ;,._ _ I"~' '.,' .,' .~;,.",'I' 1. ,:]!J ii '"ili:...;. . ,.... ~L' .~" :Ii..,,: o'! 11; / I . Hlk Ii] l"ft"'" ""'" ". ,." .~.. .~-b ~lI.'L ili' Ij f..!.!.. I,.'" " " -.;.::n, ,I, :V/' ' . ' ..' I ."r.-r-: ., u:T,:bJ ,', ''z'''~,[TO ",../ p. ,. .1..< / ' "-' ".. ' .' 1t'1 'f::i:)~/i(tt'T '~Li,~~;; . .~:t~' ..' "y....-I;' C ~.,~" ., Db," ~~.~l<.~~~ ,"'i . " .~.. ',," ~'t. "~."., r.Jt9': .... ~ /'. j, (J'~~' /. ft. .~. . .' ' '~::' L' ',O::'L~~~ ,..:, 'fh' . ' . . . . '-~ ~ 'if/) ',f- -/ ,,,.r"1P1r:'.. '-=_'.. .... .7 "..... ~,I/ It' '1':1::/= . ~~ .\~ . '. . ~~. ....,.. " 'll I ',. ,.Il=i ......... ...' f=',' 'f ;VI J'" . \' c:,' . .' flft1 ..~?f" I' \, #J ) ';?: ..r' II ~!H! H g ~. ','. Q9A' !Ii ,~ J ~ r /' I' 'II ' d:l _I" - . = ii V .. 0,_ . 0 M M ! 8 I III ::j IT! " r- ~ , i, " ' E)(.h.;bP- Il''[)'f . 1iBa:;'J. -.:;.._ ITI X -I ITI ::0 o ::0 ITI r ITI ~ "i (5 Z en i I ~ "W). ;. ~ 1 i l ~ -=> ~ , )> CJ,I , ~~~~.;YPEI. $~ =- BUILDING TYPE 2 ~J ~j I - I BuiL.,DING TYPE 3 ~I I - I BUILDING TYPE 4 ~. ~ Co &tk.bi} \'E" ~.'t' February 12, 1986 BY PUROLETTER Redevelopment Agency City of San Bernardino 300 North "0" Street Room 320 SAN BERNARDINO, CA USA 92418 Attention: Mrs. Ellen Bonneville Dear Sirs: Re: Cal-Shel Apartments Multifamily Bond Policy Fees and Commi tments The developer, Cal-Shel, A California Limited Partnership, acknowledges and understands the following fee and monitoring requirements: 1. 2. 3. 4. 5. $550 fee submitted with applicationr $10,000 fee for TEFRA Hearingr 1% of proceeds at closingr bond counsel and review counsel at closingr 1/8th of 1% per annum for monitoring the set-aside requirementsr and the market feasibility study to be done by Empire Economics. 6. Acknowledged this 12th day of February, 1986 by: CAL-SHEL, A CALIFORNIA LIMITED PARTNERSHIP ~L~ ftJ4/,,1- 720 - 475 HOWE STREET, VANCOUVER, B.C. CANADA V6C 2B3 (604) 689-2944 \', V If -"~, iIIi ~ M ~ ~ = ~ r Q - "ii:ll:j!I\CJS!.~I:~~ -I~_~aO'=''''''''' ......... i:Otnr,n _::I> ::ocno:z,.ln(Dl:lI_r :p~_ m_ S~i:i5~=~~ m...._ m......,.-_ ::oz_mnm :r;o .....____c<:_r- U)mm"'V.....:zo,:z>oz ;::~z~~~i~g ~-~~~z~.....i'i m _n..... .,., ::IEeI:!> r- m::ll:""" Q m ~ - Q = " " " " " II 0:: " ~ " m " - II :i :: ~ " " " " " !! ~ " m ..- " ~ II ~ " - 1: " " " II ~ U VI " ~ .- 'I - I, CjI " - " " " " Ii ,.. - :> ~ ~ ~ _F.r-:'_:-O~_ :-- o-....._..ao~.... - .....-0__(.11....0-......... ra_<A_m..ao.......... 2e~~~~~~~ ~t::!"O!:::!..........:::C>..... NNI........... (A -- .. -'" .. - '" ~"""'.lj..a""'(A- .... !i~~~:F-~J:M;:.gJ. o-o:g_U1-"..Qf'..Il>>_ ~~~~O;~~:::s foo"IN_c..l...... ..... ~~'i::~~~6....~ ~:-~:-~!Il'~!Il'.!> __c..l__-OUlU\(A ..a..............UI....._O:Oall ~t::!CIO~-....~o-..... ;::;.....;::: (A (A (A .-.- ... ... ... .. -- ... ~~t;~~;j:;;IlI:I~ <:>....-""...o-.....N""'" ~e~~1i~';o~;g! ~ !::::,"'!:::!D- .....~o- 0- , .... S m ~ _F~F~~_ ~ ""......lJI............a_ m lO~j::S.:=~F~"J;:! DllXlo-m.......,....o-- ....0.............0...0 _~.....:eCD....~-.... ~ Ie ,I !:!! II " Ii " II ... " ~ llUl " ~ " Q H " " " " :: CD " ~ II:" " - " 0 " " " " II " II t:: " ~ " - " - " 0 " ~ " " " " " " " " - " ~ " N II 'CD " - " ~ " ~~:-~~.... .. -~~!l'O_...,. .0 CD..oCo 00.0.0_ ..a......... .....mOo..... ~f:;~b~1::~~~ ~t::!a5t::!..ooe(Ao- F~F_"'~... .:- t;;~!d~~~~c1:;; Ulm-...:"i:a-:"':"u.N ...........om_.o_.......... Q~N!:::!U1..a:!:........... P~F.:-~_ .:- ...........a....illlJl........... all "O.....N ..........g ,. ~:-~~_ .;0:-_ ..-4 _G>..........O__N_ ;S~;:j:;~~e;:g~ F~F_...~ _ - t:j~~"":aU1t:o~ ~:-,!Dp.~:"~:"_o ...ml".:l_.....aLllCAO'- a~~~~~~~~ "'c..a........... _:..,~:...-:...~N_= flP_...~teF~~_CA G)rDo-..ao-....-Ul- _"""....UlOo-CA....CD LII~....~I".:l_::2-o..... ;g Q ~ m M ~ \:l !;;l ~ ;!' li1 ~ ~;g~~~~m n m.........-v........,.,c ~ ~~~:::_f!?~ ~N~~;:::",o."j!?:i!i;:::.... ClX\=zIZ",,,,.....Cl<_ :Do'"" m:::a::o.....=-",.-. :z o;::ln :Do'" CI 0:;lI~~~~.~;::::a~i.fi !:5:ii'ii~:::5~FCl~ O:;lI&n:::!"'~~~:>o~fl!'ir- O:;lIXI:Do""''''_ %>0"'0 ..... m'" ClU'):z>......._r-:a...... =::!i =:.. 8r:?iTiF;3iI :D~ J:, ii'~=:r;:::::m r-.... t::i ~'""'~j3!=:? bM M_m;;;~ ~ ~ g- 1'i' Cl ~m ~ rn m < m ~ = c..a~ omN O:""N UI 0 UI"'" ~~ - ~ 2~ _ (S-4 a) I".:lca.... u.u.;...o~m ........ ""'_0 CD N ~ ~ ~ m ~ :;; o ~ = ~Q!G!emc:_;:;c:c:c:...........I".:l....- _""Oc:llO......-.:::iI ................. CD lID lID. ~!~w:t2~.a~i!=j2i2f:~!;~ m-,.,_!!:ZIo__A.:DiI:=-____ !:2:i~-:cg~==S~I".:l.....N- ~~a:ea1=~::!~~!!!! en ~"":Do;D li -" il ...c::x::x:::s:::r. :;ilr;;i~j!:~:je~~ g~_~_I::::~3!;;:!i ~ S...,iiIS :.:..r-j2 =-:DoCl .........._ !;i "'~i.fi ::-< fIi--~ !il !il .=!:~ ...... M::I Z 1'5l~ ~ ~ ...:z:...... : :- s" ~ ~~ i"~= ~ , - Ie o ~ --- ~g;N~;3 o CDm.... 0- ;j;:g~~~ 00000 u.a.. a.. a.. a.. l:D-....0... ~~~i~ ~~~~~ ~ ~ ~ ::~!=i;;:t:!.... (A'" 2lS o..a- -....1::~~S1! ~""_""'CAa: ~~~~~g .l'" _N Ul~~~~!:&!:~~ ~~~:o~:~= O(A_~D"cao.... 00:.000,:.,.:.... 0"'''''0000-00",.. ~5a ~ t: '" '" I -;j! is -i ;. lliiil .. ~ - ~ = ~ ~ = '!: !:' !iI i m - ~ !:l rn ~ fi! < ;.. m ~~ 88 ~ ~ o l'l ~ m = ~ ill !i II < < o ~~~ ~ji1i ~~,., ~~~ !:l~8 ::'~~ ;ll = c ~ - _N N~ :....~.... ~m _ -Q~ ~~g N~_ _ c ~- !O::: ~:: -m ~~ lS::: '"= -~ . ~ -m ::: c r ~_ = 0 - m~!i m ~ ::: i~- ~ ~ r -~ m ~ - ~ ~~ v - r _ ~ , ~ ~~Q g! m - ~ '!: ~Q == C m m _ ~M - . Q ~ ~~ i!i iii ~ ~ U; - '" Q ~ C ~ Ul jj -~ Nm ~Q -"'NUI ~~ - ~~ Q 6~~ 2 Q - ;g;;1 _r m_ !i1 ~ ::: - i ~ ~~ ~% _ r ~< , ~ - o Ii ::: ~ - !:l rn rifubl'..J.- I'a II ~<""""," l.l !l1 ';;1:0 -!::!c::>do.oo:;:::;; .. O:;"g S" ~ ~ ~.=1 ~ -iii";::~,,--~. ~ =1Fi~!I!'- ;: ~~=,..,~;;;- .... '"....~__<c_~ "lj;l_;::iii;~a- ~~~la-;"~M~ ~ i.....~~::: ~ ;!! ~c;:>~ o ili_ ~ !fi "~ ~ o - " = " E ..~ .. - U~ .. m " - " - .. " " " .. = :;: " m .. - E ~ " - " " I! " " " ~ .. ~ 1l'Ga " 0 :: .- " .. .. .. " II ~ " ~ " - " ~ " - " m = " " = " " ~ " 0 " N " - " 0 " - " - " " " !! " II t:: " 0 " - " - :: ~ .. .. .. II :: " ~ :1 ~ " - .. m :: g: :: :1 .. .. .. :: c: .. - ll~ !i ~ .. .. .. m " ~ " ~ " - " ~ " ~ " ~ II " " " " - ,,- " 0 " - " ~ ;;= ;::;,." c...tc...t c...t ...... .. .-." .. - .. -....,--o~N_ _ ~~t;:::a;:;g~~ ~u~~~2~'ig~ ~!!:"O~...,""=OCA N"" Co40:..0 CA .. .. -'" ...-. .. i~ti~=$~~8 ~u.':..u.-:"':O'bt_':.. e~~~Cii:;::~~~ F~?~~_ ~ ..!::3t:~~~::;.....~ ""_.._UIIDC"O_O ~'i:~="ti~~~~ -e:GJe:....'"'~o::'..... !'-I~~~~ _ _OW :::~tii~~;j:;_: ~-o:-:-~_..~!"!"J~ ~~8:::::f~:;;~~ GJe:....!:::!o-......~..cr- :-a!'-'.:-.}"l~_ ~ 2~;;;E~~~~~ ou.a.._-"':"'~g.:" ~~2~~t:~~~ ~~.:-~~- ~ t:~~~~o~-o~ O_NUI.......OO.... ~t:1!i::=~t=~~~ .....e:as:!:::!~O~.....o- F~?_""~ _ ~ U1.....m....,_f,,4N ..... o-.....c...to-O...._....._ U1....",""U1""'(.oIOUlIllO ~t:~~=-:...~~~ o-!:N!:UI:S~""''''' ...,......-..... .... c:~~1::1~u.8-~ ....._-oIDii5~-8-o -....U.N:..,O-...~N:.. ~~;j::;~~2=:! F~?_""."" _ _- CDN-""tJI.........._o- .::.?~~~~~~.? o-U1.....__-oUlc...to- "OWW-OCAO-c..l........ -oe:o-~-c...t~CAO -NW__.... .... e~~~~~s:::= ......:;-..............lA~,!>_..... -Ulo-...o-....,-Ul_ -c,..j.utO..Ul...._ - e:..... ~...... -:;!...~... ~ ~ ~ m ;; 2 ~ n ~ ~ - n il Fi ,.::;~;:::~::..:.:.{a !: =~~:::_~t:l ..,...~~- >>-- _ '"...........~~r-n_.... =~~:IU~~~;~~a ""1J!~::.~=:a....~ !m:;::~~:;;:i~~~i!I ~:IIIII;;:.....m~'"~;;iI\~ ............ Ol,l)>>....._,...::a_ ~~ ~.. g~mF;:2 ~~ -'.!. t;4~::';:::;; ,..._;::;, ~1IIO~;!lW' i!3 "-cna~ ~iiK g .::. ~ - ~ ~ ~ ~ o ~ ~ i :e::..., Ul8~~ -- - - Co g~CDN""" ~~~~~= o mV::lIlO:D>mQ-.....OOO ~ _",~e -_.=0___.....,..._Il1O o!UJ!:j ~.i;.iRit~!I!il i':;:t:;:;_J!:=:;=-=2~;:;;:;;:;:::: ~1Ih"'" !I!"".....""st:_ =,..,~"-::;=n::;!E:ii1~==: --_<:~-- a.....(II!::~__!-f_ cn~-iI;:D>2< ;'il::lO-'::lI::I::I::I: __~e5!!~.. >>......::10 ~J:R_AJo"....E.&:"....~~ ~~~:::-lii~!:~ - ~jI;~ "~ -- ...... _m '" QZ ~ ~ _::::!!:-!5l" j:l ag:ii~ii\ ~ ~...~ti = ~~. m ~ Co - ~. ... :; - - . 0 ~...~ o C ~ ~ ;D: . HI . < f;l ~ ~ ~ ......__N ::::~2;:;::t ~~~~s~ ~!":-:-~~ ..... _ - 0 0 CD_...UI.O !E!:38 .... :~~5i~ ~=n~:::r; .....110..._..., 000'000. u.c..c..c..o. CD-......O. 0- UII Ul..... N1.c..I__ c,..j.......,0-...., ~~~~~ ~ - ~ ~::!i~~.;:...~~ -....,~...,-_....- :~;u==~g:~g-::: g~~gs=~~ ~ "" '" ::: - ~ !ll -0 ill ICljij ~ z ~ ~ - ~~ ~ ,.~ !il I! ;:ijl ~ -i ~ ~ :0 ~- ; ~~I - /jd\ - ~~ ~ ~~ iii .... - -- ~ ~ ~ ~ ~ 0 . . !:; !\ ~ '" '" ,.. - ::lll ~'ii::: P'~ ,.. :*~~ gg ~ ,==~g ~ ~~- -- - ~i ;:: ~c . 1"1" I ~ ~ ~ - o ~. ;"1';"; ~ ~ ~:!!... 10 4, - ;i~~ ~ ~ ;:: ~ -- "l m -- !\ ~ !~!i ~ ~n_ :0 O~ ~~ < - ~ ~ ~ :!\ ~ 1" - ;;; ~ l;l ~ ~ ~ ~ -~ Nm ~o -"~Ul ~~a 6~~ -Ii l!I_ . ~ ~~ ~- " - -~ ~R l!I::; '". ~~ . ~ -~ ~~ _F ~~ :i ~ . ~ ::; - ~ ~ ;l! . ~ . o ~ o j:l!!; zF - ~ Ii ::; ~ - ,.~ o !'" ='J~ iEii' III :: . I: :;-" ~..~ ~~e. ",'1!l E: H! -~ _a~ i ~ . a.i !- - ~ .D~_ - ~~~ i"i= - . . . a:: tS '!' ~ ..I . II- ~:; -~ a - -i :.- . = :~ =e. ~ ~ _G :~ a _ ~ " :!.S' :" ~ d ~ ~ - ! . g-= ;. i iA: .~ . ;; fi . I!:. - " ~ " e. ::. . - ::. Il; M :: ~ -:' ~ ~~ n. - -~ N~ -~ u -- ~= :::!ll i= -~ ill ;; O~ _N ~- 'il';.. -I; ~ili '":.Ii.; NG N !1:: ~11 ,;::; _ G -- _.....~ i~ ;: -" ~!-'" ~- G~ N_ ,. 11:# -- ~~ ~- - ;,.~ ~c::s ::; ~~ :......i: l1i._ : =..... , i , , - , ~~Ol_~ -- - ..,....,...>>I;.I;.-,"nr- Uig~h::~mi ~::U;~.fa'ii!!I!i~iii -l ~Jt:r=: ."...._-. iiU:ji" !i! iiii -~ - __.., .", nn ...... 1- ~~ n,.ii ;::- Ull........ ~ -->> ... il ~ ~ a Oil:;: i.;'8: ~- m_ -- ~i: g- ,,:;: ~~ i. (..0- -- N _ !_- , ~- :~o.. l:g~ , i i , , :~:;: j':;'g: , ~- : , , : , , :.w_ , -- , - . ::::z: , -- : , U__ ;:CI~~e:: ~~~~~ -~ 'i::~ ~- -~ ~o.. 1::;;1 -~ 'i::~ ~- -~ 't1~ ~- -~ ~o. U_ ~- jp. ft5 -~ t:~ ~- -~ "Wo.. U_ ~- ~~ ~- u_ ~- -~ b~ ~- -~ we,.. U_ ~- -~ -:....i:r. 1::;;1 - , ji.;l~ji 9::::008: ~fo.Ig_1 ::I~ ~~ ::I~ ~~ ~ - ~ - l:jg 1l~ I ~ I ~UIHh~la~gii E "gl"g~~~~~~~~~~ n i ft........,: 5c...c... I !~~ I I~ I I ~I! I -- c.lI""oo- "5i!1~~ ! :.:0 "51m I-Oil IE~ P. N .- o - N;)I NO NO ::18 N ~ o - - NU NO f,j~ N ~ ;3 ::I~ ~~ N ~ o - ~g ~8 NO ~ ;; - - N <" NO -;"'0 NO NO N ~ - ::Ig ;""'0 NO NO ':l N .- ;; - - ::Ig f,j~ ~ o - - NU NO ~3 NO I I , , - :':l :1" i - a ~ . !! ~ l': I ~ N - u - G ~ ;; = ;:; Ii ~ - ii ~ z ~ - ~ i!i ~ , ... :;: ~ - ~ Ii :c !:l :: ~ ~ -~ G ~ G ~ i o Ii , I: o >> ~ >> ~ 2 ~ Z - ~ i! .jIi -~ ic m;ll -l!l i- -ill ii m n I h II !;;~III;O: _l':-~ U;:"'U1- ~_mICA~ 1l~_1 ro.g - 00:-\:::10: ngi!~5 H i i~.:- : I~~ ~f ...,c..I ~~ j::!- fti~ . - . =.3 :....- . n ftl:l- a... c. =~~ 1I~~ II UI . . " " " N IlCA- ,.... ... r.~~ .~o I'''' ... I! !ti . " . . n " " " " " " " " " " o 8=~!I;...-...:;Cla.l: ili;liiiig~im~!!!~a i:::..;j;j...diUl!i! -<I -l2:~ ................... -."~K " -- i!!il:;j.@ '" i!i! ;E ~3 u: !:2!2 _1,1) 9- .;;s S..... D5~ .......... ~!!!': ~- -- . !i! !!l ~ - m ~ ~- .. .1f5 ~ - .:0 g -~ c...~ t:. -~ 'ht~ ~. I! 0: t::: . - .~~ ~. u_ ~. -~ ~~ _u ~a.. u_ ~. -~ ~~ ~. N - o - - I:lIS Ei~ ::!- .. ...... s>:; N ~ o - - I:lIS Ei~ N ~ ::: - ::lIS i:f~ N ~ ::l~ Ei~ ::: N .- ::: !:l~ No. !:l8 ~ o - - !:lIS ~g NO N (:j,... ~g~;ggti5l~gi~ "g~!~~~!~~~! o . ~. g - ~ :;; t ~ - n ~ - ~ c ~ .. ,.; u; 0: ::; :;; - o ~ o - ~ ~ ii '" . ~ . ; ~ ~ '" Ii! m ~ m ~ c - ~ = ~ ~ ~ - Z - i !; a ~ , ~ o 0: . ~ z m ;!l c '" ~ . , .' ,. .~ ~ r r . . P I I I I '. . , I . , f 0: I . . .