HomeMy WebLinkAbout2012-273 1 RESOLUTION NO. 2012-273
2
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
3 CITY OF SAN BERNARDINO SERVING IN ITS CAPACITY AS THE
SUCCESSOR HOUSING AGENCY TO THE REDEVELOPMENT
4 AGENCY OF THE CITY OF SAN BERNARDINO APPROVING THE
5 TERMINATION AND FULL RECONVEYANCE OF A RESTRICTIVE
COVENANT AND DEED OF TRUST RELATING TO REAL PROPERTY
6 LOCATED AT 3456 NORTH SIERRA WAY, SAN BERNARDINO,
CALIFORNIA
7
8 WHEREAS, on January 9, 2012, the Mayor and Common Council of the City of
9 San Bernardino ("Council") adopted Resolution No. 2012-12 confirming that the City of
10 San Bernardino would serve as the "Successor Agency" to the Redevelopment Agency of the
11 City of San Bernardino ("Agency") effective February 1, 2012, pursuant to AB1X 26 (The
12 Redevelopment Agency Dissolution Act); and
WHEREAS, on January 23, 2012, the Council adopted Resolution No. 2012-19 confirming
13
that the City would serve as the "Successor Housing Agency"to the former Agency and perform the
14 housing functions previously performed by the Agency; and
15 WHEREAS, pursuant to Health & Safety Code Section 34181(c), added by AB1X 26, the
16 Oversight Board for the Successor Agency ("Oversight Board") is required to direct the transfer of
17 the former Agency's housing assets and functions to the Successor Housing Agency; and
18 WHEREAS, pursuant to Health & Safety Code Section 34176(e)(1), added by AB1484,
deeds of trust and restrictions on the use of real property such as affordability covenants benefiting
19
the Agency are considered "housing assets;"and
20 WHEREAS, the Agency provided a down payment assistance loan ("Loan")to the purchaser
21 ("Homeowner") of real property located at 3456 North Sierra Way, San Bernardino, California
22 ("Property") in the amount of$2,640; and
23 WHEREAS, the Loan was evidenced by a Promissory Note dated November, 1997 ("Note")
24 and secured by a Deed of Trust, executed by the Homeowner on November, 1996, and recorded
25 against the Property in the Official Records of the County of San Bernardino on November 25, 1997
as Instrument Number 19970431912 ("Deed of Trust"); and
26 WHEREAS, in connection with the Loan, on November, 1997, the Homeowner executed
27 certain covenants containing affordability, maintenance and other restrictions and recorded such
28
1
2012-273
1 covenants against the Property in the Official Records of the County of San Bernardino on
November 1997 as Instrument Number 19970431914 ("Covenants"); and
2
WHEREAS, the provisions in the Covenants restricting the sale and occupancy of the
3 Property to low income households expired by their terms ten (10) years following the date of
4 delivery of title and possession of the Property to the Homeowner, specifically, November 2007;
5 therefore, such affordability restrictions are no longer in effect; and
6 WHEREAS, the Note provides that all principal and interest owing on the Loan is forgiven
7 ten (10) years following the date of delivery of title and possession of the Property to the
Homeowner, specifically,November 2007 and
8
WHEREAS, the Homebuyer has requested that the Successor Housing Agency confirm that
9 the Loan has been forgiven, reconvey the Deed of Trust, and terminate the Covenants, and
10 WHEREAS, the Oversight Board adopted a resolution (Resolution SBOB/2012-08)pursuant
11 to which it confirmed that the Covenant and Deed of Trust are housing assets and authorized
12 Successor Agency staff to transfer all rights and interests in the Covenant and Deed of Trust to the
13 City in its capacity as the Successor Housing Agency; and
14 WHEREAS, the State of California Department of Finance, the State of California
Controller's Office, the County Auditor-Controller of the County of San Bernardino and the Office
15 of the Chief Executive Officer of the County of San Bernardino were each properly notified prior to
16 the adoption of Oversight Board Resolution SBOB/2012-08.
17 NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL
18 SERVING AS THE SUCCESSOR HOUSING AGENCY, AS FOLLOWS:
19 Section 1. Pursuant to Health & Safety Code Sections 34176(e) and 34181(c), the
20 Oversight Board found and determined that the Covenant and Deed of Trust are "housing assets" as
defined in Section 34176(e) and directed Successor Agency staff to transfer the Deed of Trust and
21
the Covenant to the City in its capacity as the Successor Housing Agency.
22 Section 2. The Mayor and Common Council hereby approves the termination and full
23 reconveyance of the following instruments: (1) the Deed of Trust as described as Instrument
24 Number 19970431912 in the Official Records of the County of San Bernardino; and (2) the
25 Covenant as described as Instrument Number 19970431914 in the Official Records of the County of
26 San Bernardino.
Section 3. The City Manager, or designee, is hereby directed to effectuate the execution
27
of a request for reconveyance of the Deed of Trust and termination of the Covenants and to cause
28
2
2012-273
1 such instruments to be recorded against the Property in the Official Records of the County of San
Bernardino.
2
Section 4. This Resolution shall take effect from and after its date of adoption by this
3 Council.
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
3
2012-273
1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
2 CITY OF SAN BERNARDINO SERVING IN ITS CAPACITY AS THE
SUCCESSOR HOUSING AGENCY TO THE REDEVELOPMENT
3 AGENCY OF THE CITY OF SAN BERNARDINO APPROVING THE
TERMINATION AND FULL RECONVEYANCE OF A RESTRICTIVE
4 COVENANT AND DEED OF TRUST RELATING TO REAL PROPERTY
5 LOCATED AT 3456 NORTH SIERRA WAY, SAN BERNARDINO,
CALIFORNIA
6
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
7
Common Council of the City of San Bernardino at a joint regal ar meeting thereof, held on the
8 19th
9 day of November 2012,by the following vote,to wit:
10 Council Members: Ayes Nays Abstain Absent
11 MARQUEZ _x _
12 JENKINS _ x _
13 VALDIVIA %
14 SHORETT X
15 KELLEY X
16 JOHNSON x
17 MCCAMMACK x
18
19 George l Hanna"
20
The foregoing Resolution is hereby approved this day of November , 2012.
21
22
P tric J. Morris, Mayor
23 Cit San Bernardino
24 Approved as to Form:
25 JAMES F. PENMAN,
City Attorney
26
27 By: /
28
4