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Home My WebLink About01-Redevelopment Agency - ... -- .\..,~ r ....... o :J c BEEN SUBMITTED PURSUANT TO THE PROVISIONS OF ORDINANCE NO. 3815 OF THE CITY FOR A CERTAIN PROJECT. FINDING THAT SAID APPLICATION COMPLIES WITH THE PROVISIONS AND REQUIREMENTS OF SAID ORDINANCE NO. 3815; APPROVING SAID APPLICATION AND THE PROJECT TO WHICH IT REFERS; DIRECTING THE PREPARATION OF A PROJECT AGREEMENT, A RESOLUTION OF ISSUANCE AND SUCH OTHER LEGAL DOCUMENTS AS MAY BE NECESSARY TO CARRY OUT SAID PROJECT AND PROVIDE FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS THEREFORE; AND MAKING CERTAIN OTHER FINDINGS AND DETERMINATIONS IN CONNECTION THEREWITH ~ A RESOLUTION ADOPTING A HOUSING FINANCE REVENUE BOND PROGRAM IN 'V COOPERATION WITH THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE FOR AND ON BEHALF OF THE CITY AN '"_'I>''''' COOPERATIVE AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO AND THE CITY OF SAN BERNARDINO c c 0872K/EB 12/2/85 / - - - -- - -.. R&&VELOPMENT AGENCY.RCiuEST FOR U-ISSION/COUNCIL A~ION From: Ct: Glenda Saul, Executive Director Subject: INDUCEMENT RESOLUTIONS - COOPERATIVE AGREEMENT WITH COUNTY - INTERNATIONAL CHRISTIAN GRADUATE UNIVERSITY Redevelopment Agency Date: November 26, 1985 Synopsis of Previous Commission/Council ection: Ordinance 3815 providing for the issuance of Industrial Development Bonds Recommended motion: (Mayor and Common Council) c A. RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO FINDING THAT AN APPLICATION FOR INDUSTRIAL DEVELOPMENT BOND FINANCING HAS BEEN SUBMITTED PURSUANT TO THE PROVISIONS OF ORDINANCE NO. 3815 OF THE CITY FOR A CERTAIN PROJECT, FINDING THAT SAID APPLICATION COMPLIES WITH THE PROVISIONS AND REQUIREMENTS OF SAID ORDINANCE NO. 3815; APPROVING SAID APPLICATION AND THE PROJECT TO WHICH IT REFERS; DIRECTING THE PREPARATION OF A PROJECT AGREEMENT, A RESOLUTION OF ISSUANCE AND SUCH OTHER LEGAL DOCUMENTS AS MAY BE NECESSARY TO CARRY OUT SAID PROJECT AND PROVIDE FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS THEREFORE; AND MAKING CERTAIN OTHER FINDINGS AND DETERMINATIONS IN CONNECTION THEREWITH B. RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO FINDING THAT AN APPLICATION FOR INDUSTRIAL DEVELOPMENT BOND FINANCING HAS (continued) ,~~ dial . Signature Contact person: Glenda Saul FUNDING REQUIREMENTS: Amount: $ N/A Phone: 383-5081 4 Ward: P. N/A rOJect: Supporting data attached: YES No adverse Impact on City: Date: December 2, 1985 Cncil Notes: 0872K/EB 12/2/85 Agenda Item No. ~(D " c: HOUSinG HUIHDRlllHf IHf cDunlRlf SHn BfRnHRDINO :) COMMISSION HELEN L. JAMES Chairman San Bernardino WESLEY B. JEFFERSON Vice-Chairman Riallo RICHARD PADILLA Barstow FRANK A. HOOVER Upland R.J. MADDOX Montclair PEDRO S. FERNANDEZ Redlands LORETTA R. GUILLEN Colton - CENTRAL OFFICE 1053 NORTH D STREET TELEPHONE (714) 884-1811 SAN BERNARDINO, CALIFORNIA 92410 December 5, 1985 ALBERT A. HARKINS EXECUTIVE DIRECTOR WALTER A, McCULLOUGH ASSISTANT EXECUTIVE DIRECTOR Ralph Hernandez Councilman, Third Ward City of San 13ernardi.m 300 North "D" Street San Bernardino, California 92418 Dear Mr. Hernandez: We are in receipt of your letter of December 5, 1985 :irx1uiring as to the benefit the proposed Arrowhead Springs Ranch project to the l.ow-inoc:rre families that we administer programs for. The Housing Autrori ty administers the Section 8 Housing Assistance paynents Program with approximately 3200 partici- pants am a public housing program with l660 participants. Both of these programs, with few exceptions, restrict partic- ipation to families ronsidered to be very-low inccrre families, with inoc:rres that do not exceed 50% of the redian inccrre for the area. Approximately 85% of all participants have inccrre between 30 to 40% of the median inrorne for the area. Addi- tionally, of the 4270 applicants on our existing waiting lists it is estimated that in excess of 90% have inccrres below 50% of median inccrre. Therefore, it is highly unlikely that our clientele would benefit fran the Arrowhead Springs Ranch pro- ject due to the proposed rent structure. As you are aware, the ArrCMhead Springs Ranch project is required to have 20% of the total units available for low- inccrre households or families with inccrres under 80% of the median inccrre for the area. Sincerely, ~4J~ Albert A. Harkins Executive Director AAH/ sb (: o :) - ,:) CITY OF SAN BERNARDINO 300 NORTH "0" STREET. SAN BERNARDINO. CALIFORNIA 92418 EVLYN WILCOX Mayor Member. of the Common Council EstherEllnd............... FlrstW.rd Jack Reilly............. . Second Ward Ralph Hernandez. . . . . . . . . . . Third Ward Steve Marks. . . . . . . . . . . . . Fourth Ward Gordon Qulel . . . . . . . . . . . . . Fifth Ward Oan Frazier . . . . . . . . . . . . . . Sixth Ward Jack Strickler . . . . . . . . . . . .Seventh Ward Mr. Albert A. Harkins Executive Director Housing Authority of The County of San Bernardino 1053 North "0" Street San Bernardino, CA 92410 Dear Mr. Harkins: December 5, 1985 Please provide me information regarding The Springs Ranch Project as pertains to your clients. project benefit your low income clients in any way. RH:ej Sincerely, .---.,' ; i / .k, ( I \1 t-.,I( - 1\ ' RALPH HERNANDEZ Councilman, Third Ward Arrowhead Will the ~ x '---.' - (~ ~ousmG HUT~ORITt[Jt THE [OUnc"Of SHn RfRnRfHllNil. COhlhllSSION HELEN L. "AhlES CII,'rman Sin Bernardino WESL.fY .. "EFFERSON V'-ClIIIlrman lIlallo RICHARD PADILLA ....tow FRANK A, HOOVER Upland fI.J. MADDOX Monlclalr PEDRO S. FERNANDEZ fledland. LORETTA fl. GUILLEN Colton CENTRAL OFFICE 1~ NORTH D STREET TELEPHONE (714)164-1111 SAN BERNARDINO. CALlFORNIA12C10 ", '. - <t( ':) )-+\ , . ~ ~. , " ".,,' ALBERT A. HARKINS IUClITIYt 0IllEC1'0II WALTER A McCUllOUGH MSlSTANT IXECUTM DlflECT~ SI.mnary of caments made by Tan Laurin, Director, Housing and Camnmity Developtent, 'cn.mty of San 1lernardino, during Board of O::mnissioners meeting, December 3, 1985. Al Harkins asked Tan to give his caments concerning his staff's recx:rrrteI1dations regarding t.re A1:'rcllmead Springs Ranch Project. Tan first cxmrerded the Canpus Crusade's efforts in develq>ing housing for those who need it, aOO ackncR.-ledged their oontribu- tions to the cxmnunity over the last decade. Tan went on to say that Q:>unty staff did have sone reservations on this project because of the magnitude of the dollar arrount as well as the number of units to be oonstructed at the site. He stated that he aOO his staff did not have enough information nor enough tW to make a detennination that t.re project had a reasonable expec- tation 1:0 be built. He stated that this is a detennination that has 1:0 be made before the issuer, in this case the Housing Authority, can issue Tax-Exerrpt lxm::ls. Tan further stated that t.re feasibility stooy oorrlucted by the Q:>unty of San Bernardino through a oontract with DTpire Ea:>nanics, states that there are 7800 units that have been irrluoed or are under oonstructien in t.re East Valley area. 'nle cn.mty feasibility stooy calls for a demand in the East Valley area to be 3600 units over the next six years. Because of this difference between supply aOO demand aOO the addi tien of 5000 units into this equation (which already shcMs that the East Valley has a..1m:>st a two to one supply over demand), the ID) staff cannot recxmnend at this tW that bonds be issued for this project.. / Albert A. Harkins Executive Director I. - '-' c c r .I",..r - (~' ..... o :) l8DLH2/3 THE COMMON COUNCIL OF THE CITY OF SAN BERNARDINO RESOLUTION NO. A RESOLUTION ADOPTING A HOUSING FINANCE REVENUE BOND PROGRAM IN COOPERATION WITH THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE FOR AND ON BEHALF OF THE CITY A COOPERATIVE AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO AND THE CITY OF SAN BERNARDINO WHEREAS, there is a shortage in the County of San Bernardino (the "County") and in the City of San Bernardino (the "City") of decent, safe and sanitary housing, particulary of housing affordable by persons in the lower end of the purchasing spectrun, and a consequent need to encourage the construction of homes, affordable by such persons and othewise to increase the housing supply in the County and in the City for such persons; WHEREAS, the Board of Commissioners of the Housing Authority of the County of San Bernardino (the "Authority") has adopted its resolution declaring its intent to engage in a housing finance revenue bond program (the "Program") pursuant to Chapter 1, Part 2 of Division 24 of the California Health and Safety Code of the State of California (the "Act") and to issue bonds pursuant to the Act to provide funds for the Program; and WHEREAS, the Board of Supervisors of the County has adopted its resolution approving the financing of certain multifamily housing projects by means of the issuance of mUltifamily housing revenue bonds by the Housing Authority of the County of San Bernardino; and WHEREAS, this Council adopted Resolution No. 85-185 on May 22, 1985, which found and determined that it was in the best interest of the City to adopt the Program and to consent to the operation of the Program by the Authority within the geographic boundaries of the City pursuant to the Act. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Bernardino as follows: Section l. The Cooperative Agreement between the Authority and the City (the "Agreement"), a copy of which is attached, is hereby approved, and the Mayor and City Clerk are hereby authorized and directed to execute and deliver said Agreement, for and in the name and on behalf of the City. The Mayor, with the advise and consent of the City Attorney, is authorized to approve any additions C:>c c c c ... - - I . '"-' c o J 18DLH2/4 to or changes in the form of said Agreement which they deem necessary or advisable, their approval of such additions or changes to be conclusively evidenced by the execution by the Mayor of said Agreement as so added to or changed. The Mayor, with the advice and consent of the City Attorney, is further authorized to enter into such additional agreement with the Authority, execute such other documents and take such other actions as they may deem necessary or appropriate to carry out the purpose and intent of the Agreement or to cooperate in the implementation of the Program. APPROVED AND ADOPTED by the City Council of City of San Bernardino, California, at its regular meeting held on the day of , 1985, by the fOllowing vote of the Council: AYES: NOES: ABSENT: Mayor of the City of San Bernardino, California day of The foregoing resolution is hereby approved this , 1985. ATTEST: City Clerk of the City of San Bernardino, California APPROVED AS TO FORM: CITY ATTORNEY By: -2- c c c ... ~ r ."",- o o ::> 18DLH2/5 STATE OF CALIFORNIA COUNTY OF SAN BERNARDINO CITY OF SAN BERNARDINO ) ) ) SS I, , City Clerk in and for the City of San Bernardino, DO HEREBY CERTIFY that the foregoing and attached copy of San Bernardino City Resolution No. is a full, true and correct copy of that now on file in this office. IN WITNESS the offical seal of of WHEREOF, the City , 1985. I have hereunto set my hand and affixed of San Bernardino this day City Clerk -3- c c c .. - ~ , .~~ o o ~ 18DLH2/6 COOPERATIVE AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO AND THE CITY OF SAN BERNARDINO THIS COOPERATIVE AGREMENT (This "Cooperative Agreement") is hereby made and entered into as of , 1985, by and between the HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO, a public corporation and body politic of the State of California, (the "Authority") and the CITY OF SAN BERNARDINO, a municipal corporation located in the County of San Bernardino (the "City"). WITNESSETH WHEREAS, the Authority has determined to engage in a multifamily rental housing mortgage finance program (the "program") pursuant to Chapter 1 of Part 2 of Division 24 of the Health and Safety Code of the State of California (the "Act") to finance construction or mortgage loans for the development of multifamily rental housing projects in the County of San Bernardino, all as provided for in the act; and WHEREAS, The Authority has determined to borrow money to finance the Program by the issuance of revenue bonds (the "Bonds") as authorized by the Act; and WHEREAS, the City is willing to cooperate with the Authority pursuant to its implementation of the Program within the corporate boundaries of the City, provided that (1) such cooperation and implementation shall in no way limit the City's ability to exercise its own powers and develop its own similar program on other sites; and (2) the City shall retain all normal planning and building approval processes and authority over the Authority program within the City's corporate limits; NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agree as follows: Section l. The words and phrases of this Cooperative Agreement shall, for all purposes hereof unless otherwise defined, have the meaning assigned to such words and phrases in the Act. Section 2. The Authority agrees to use its best efforts to undertake the program and to issue the Bonds therefore as soon as the Authority determines the same to be necessary and advisable. c c c - - I'- .--- c o :) l8DLH2/7 Section 3. The City represents that: (I) The City has heretofore adopted a General Plan for the City which it believes to be in conformance with the provisions of the Planning and Zoning Law of the State of California (Government Code Section 65000 et seq.); (II) said General Plan includes a Land Use Element and a Housing Element as required by Government Code Section 65302; and (III) the Program and Program Site do comply with said Land Use Element and Housing Element. Section 4. The City agrees that the Authority may make a multifamily rental housing mortgage under the program, and that the Authority may exercise any and all of its powers for the purpose of financing a multifamily rental housing mortgage pursuant to the act with respect to the fOllowing projects: DEVELOPER PROJECT LOCATION Arrowhead Springs Ranch, a California Limited Partnership Arrowhead Springs Ranch State Highway 18 and Old Waterman Canyon Road Section 5. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of this Cooperative Agreement; and the City further agrees to refrain from taking any action which would, to its knowledge, tend to adversely affect the rating on the Bonds to be issued by the Authority pursuant hereto; provided that nothing in this Cooperative Agreement shall in any way or manner be construed to restrain, or in any way limit, the exercise by the City of its Planning, Land Use, Building Permit, or other authority, over any aspect of the Program herein proposed. Section 6. Nothing in this Cooperative Agreement shall prevent the Authority or the City from entering into one or more agreements with other political subdivisions within their respective boundaries, if deemed necessary and advisable to do so by the Authority or the City, nor shall anything in this Cooperative Agreement be construed as limiting the exercise by the Authority or the City of any of their respective applicable powers or authorities. Section 7. The Authority agrees that it will impose upon the developer, and arrange for transmittal to the City after close of bond sale, the City's l% fee for bond issuance, and will further require of each developer, as a condition precedent to closing of the bond sale, that each developer execute and deliver to City in form suitable for recording the City's customary Covenant Running with the Land, waiving any claim or right to density bonus as to the property affected. -2- c c c r- .\", - o o :> l8DLH2/8 Section 8. The Cooperative Agreement may be amended by one or more supplemental agreements executed by the Authority and the City at any time, except that no such amendment or supplement shall be made which shall adversely affect the rights of the holders of the Bonds issued by the Authority in connection with the Program. Section 9. The term of ths Cooperative Agreement shall commence on the date first above written and terminate at the end of the origination period for mortgage loans under the loan for the program. IN WITNESS WHEREOF, the parties hereto have caused this Cooperative Agreement to be executed and attested by their proper officers thereunto duly authorized, and their Official Seals to be hereto affixed, all as of the date first above written.. HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO CITY OF SAN BERNARDINO By: By: ATTEST: ATTEST: By: By: Clerk City Clerk APPROVED AS TO LEGAL FORM: By: City Attorney -3- r ." ~ l6DLH6/2 c . - o o :) San Bernardino l.9 Names and Locations of Key Officials. l.9.1. principal officers William R. Bright, President John S. Butler, Secretary 1. 9.2 1. 9.3 1.l0 Directors, and principal stockholders (over 10% ownership). None Description of other Business Affiliations and principal Officers, Directors and Principal Stock Holders. 1.11 Employees Not Applicable "C (If operations are conducted in states other than California, please describe relative nature of intrastate and national activities) including: lolL 1 1.11.2 1.l2 Number of Employees in California I\~ Locations in California. Arrowhead Springs, San Bernardino County, California Expert Services: 1. 12.1 1. 12.2 1.l2.3 c -1.13 The applicant's accountant and principal contact at such firm, Ken Heckman The applicant's attorneys and principal contact at such firm, and MCKittrick, Jackson, DeMarco & Peckenpaugh, 404l MacArthur Boulevard, Newport Beach, California 92660. Principal contact: Steven J. Dzida Any experts or firms of experts that will be involved and the principal contacts at each firm. principal bank of account and name of officers handling account. ,c c Ie - - r . \. .~ o o :> 16DLH6/3 San Bernardino 1.l4 The source of funding for the project. 50l(c)(3) Exempt Facility, Industrial Development Bonds PART II. BOND ISSUE ~2.l Provide the estimated total amount of the financing with a tabulation of proposed use of bond proceeds, including: 2.1. 1 Project cost, 2.1. 2 Legal, printing and related fees, 2.1.3 Financing costs and fees, 2.1. 4 Capitalized interest, and 2.1.5 Other miscellaneous costs. 2.2 Estimated target date of financing. December 15, 1985 2.3 Estimated times of financing. One 2.4 Type of bond sale (private placement, underwritten Offering) . Private Placement PART III. FINANCIAL INFORMATION 3.l Financial statements certified or prepared by a CPA, from three most recent fiscal years, including the fOllowing: (NOTE: If any information or data is confidential, please confer with City staff before making this submission. ) 3.1.1 Balance Sheet, 3.1. 2 3.1.3 Income (Profit and Loss) Statement, and Analysis of sources and application of funds. r- . \'. j 16DLH6/4 Ie NOTE: - ~ o o :) San Bernardino If the City issues bonds to finance the project the applicant will be required to furnish its annual audited financial report, or, if registered with the SEC, a copy of its lOK repo rt. 3.2 Advice as to whether applicant is a small business, and a description of the applicant's ranking and relative size (small, medium, large) in its industry. If a small business loan is involved, please give details, and if a federal guarantee is to be used, a certificate of financial disadvantage should be provided by the qualified sponsor. PART IV. PROJECT INFORMATION 4.1 A short summary of the purpose, objective and function of the proposed project. (c ~4.2 Acquisition of existing university facilities and rehabilitation of same A description of the components and the estimated total cost of the functional parts of the project, including: 4.2.1 4.2.2 4.2.3 4.2.4 Land, Buildings, Tabulation of equipment, Engineering and technical services, and 4.2.5 Other or miscellaneous items (describe and tabulate) . NOTE: "=:4.3 The regulations of the Internal Revenue Service define eligible facilities, and formulate their nonproductive values. They should be consulted for its definitions. 4.3.l Estimated construction period: 4.3.2 c Scheduled starting date, and Scheduled completion date. (e c s: - .\' " o o :) l6DLH6/5 San Bernardino 4.4 Name and location of the applicant's supervlslng or consulting engineer responsible for design of the project. - 4.5 The location of proposed project. If duplicate installations in several locations, list addresses of all. Arrowhead Springs, San Bernardino County, California 4.6 Advise as to whether project site is a new location. If not, describe what expansion or alteration will be made. Existing location - existing facilities will be rehabilitated 4.7 Name of legal owner of location: Campus Crusade for Christ International 4.7.l If not owned by applicant, advise terms and nature of occupancy, and 4.7.2 If there is or will be a legal relationship between the applicant and owner of the location, describe the relationship. None - 4.8 A description of the operations that are or are to be conducted at the location of the proposed project, and the scope, magnitude and process relationships of the proposed project, including: 4.8.l An 8-l/2" x ll" map showing plant site and location of the project, and 4.8.2 A description of the plant process. 4.9 List the environmental quality regulations, standards or requirements which are to be met within this project 4.l0 A list and copies of all permits, water quality enforce- ments orders, air pollution permits and variences or evidence of other actions evidencing need for installation of this project. List pollution control agencies (local, state and federal) imposing the applicable regulations, standards or requirements for operations or disposal. 4.11 re ~ c ~ o ~ o . . l6DLH6/6 San Bernardino 4.l2 Describe the regional county or basin plan to which this project is to conform, and the manner in which it will provide conformance. 4.l3 Describe the by-products or residues of the project, and where and how ultimate disposal will be accomplished. If recycling or salvage is to be a function, advise as to market opportunities. PART V. PUBLIC BENIFITS 5.l Describe the benefits that will accrue to the City and its citizens as a result of the installation of this facility and the use of this method of financing, vis-a-vis a conventional method. 5.2 In particular, the application should address the find- ings in Section 1 of the Ordinance, and should show that the applicant is locating in the City for long-term business reasons and not merely because of any financial inducement offere~ by the Ordinance. Applicant should outline the program by which it is expected that its activity in the City will increase long-term employment of local residents and that the City will receive a substantial benefit that exceeds any detriment incurred. PART VI. COMMITMENTS 6.l The application shall be supplemented with a commitment by the applicant to comply, and/or to assist the City in complying, with all state and federal laws in the issuance of the bonds, including, without limitation the making of any required application to a governmental department, for authorization, qualification or registration of the offer, issuance or sale of the bonds, and any amendments thereto, and any permit or other authorization of such governmental department prior to the delivery by the City of such bonds. The applicant hereby commits to comply and/or to assist the County and City in complying, with all state and federal laws in the issuance of the bonds, including, without limitation, the making of any required application to a governmental department, for authorization, qualification or registration of the offer, issuance or sale of the bonds, and any admendments thereto, and any (C ~ ~ . - r' .' c o ~ l6DLH6/7 San Bernardino permit or other authorization of department prior to the delivery City of such bonds. such governmental by the County and 6.2 The application shall be supplemented with (i) a com- mitment by the applicant to cause and/or to assist the City in causing to be printed any prospectus or other written or printed communication proposed to be published in connection with the issuance, offer or sale of bonds, prior to the delivery by the City of such bonds, and, if deemed necessary by the City, fOllowing the delivery of such bonds. The applicant hereby commits to cause and/or to assist the County and City in causing to be printed any prospectus or other written or printed communication proposed to be published in connection with the issuance, offer or sale of bonds, prior to the delivery by the County and City of such bonds, and, if deemed necessary by the County and City, following the delivery of such bonds. 6.3 All commitments by the applicant shall specifically provide for the applicant to pay all expenses in connection with the issuance, offer or sale of the bonds, whether or not they are finally issued, to hold the City harmless from any and all expenses related thereto and to pay items on an ongoing basis so that neither the City, nor its advisors, attorneys, employees and the like will accumulate any claims against the City. The applicant hereby commits to pay all expenses in connection with the issuance, offer or sale of the bonds, whether or not they are finally issued, to hold the County and City harmless from any and all expenses related thereto and to pay items on an ongoing basis so that neither the County and City, nor its advisors, attorneys, employees and the like will accumulate any claims against the County and City. 6.4 Any additional information, agreements and undertakings as the City may require as a result of various conferences and negotiations shall be reproduced in written, printed or other tangible form, shall be supplied in as many copies as the City prescribes and shall be deemed supplements or amendments to the application. (C "-c c .. - r . , o 1"'"\ V :> l6DLH6/8 San Bernardino The applicant hereby agrees to provide any additional information, agreements and undertakings as the County and City may require as a result of various conferences and negotiations, and will reproduce said materials in written, printed or other tangible form, and shall supply as many copies as the County and City prescribes, and such materials shall be deemed supplements or amendments to the application. PART VI I. SIGNATURE 7.1 The application must be signed by the senior official of the applicant with prime responsibility for the financing, who must certify that he has authority to bind the applicant to contract terms; that the application to the best of his knowledge or belief, contains no false or incorrect information or data, and the application, including exhibits and attachments, is truly descriptive of the project. There must also be a representation that the applicant is familiar with Ordinance No. 3815. This application is hereby submitted on behalf of the International Christian Graduate University (the .University"). The undersigned is the senior official of the University with prime responsibility for the financing of the project, and I hereby certify that I have the authority to bind the University to contract terms; that the application, to the best of my knowledge and belief, contains no false or incorrect information or data, and the application, including exhibits and attachments, is truly descriptive of the project. Further, I hereby represent that I have reviewed and am familiar with Ordinance No. 38l5, of the City of San Bernardino. PART VIII. FEE SCHEDULE - The fOllowing fees apply to the first time applicant and for each refunded issue: 8.1 The City requires a non-profitable application fee of $50 for each project to be considered for eligibility to be paid when the basic documents are requested. With the submittal of the application form, a $500 non-refundable fee is payable to the RDA. If the application is accepted prior to the public hearing, an additional fee of $lO,OOO is payable for administra- (c ~ lC - - /- o o ~ 16DLH6/9 San Bernardino tive costs. Applicant agrees that the commitments in Part VI above are in addition to these fixed amounts. Thus, in the event that no closing occurs, the City shall be reimbursed for its processing costs. 8.2 All fees of the City may be capitalized and included in the bond issue, as acceptable to the bond purchaser. 8.3 The City derives its entire support from the fees for its services. The total function of the City is conducted on a self-supporting basis, and involves no state general revenues or expenditures from taxes from the state or any of its political subdivisions. No indebtedness or taxing power of the City is involved. Project revenues are the sole security for its bonds. The federal guarantees, if any, enhance these revenues and income and the security of 8.4 Pursuant to Resolution 8l-108, as amended by Resolution 81-410, and as amended by motion on November 2l, 1983, one percent (l%) of the bond issue shall be deposited by applicant regardless of adoption date, at the time of bond closing in the City Treasury in the Industrial Revenue Bond Reserve and Development Fund, which shall be used in such manner as the Mayer and Common Council may direct from time to time. PART IX. ADDITIONAL INFORMATION 9.l In addition to issuing bonds, the staff of the City actively consults with lenders, investors, securities underwriters and federal agencies in developing and packaging programs for smaller companies. The City desires to encourage credit worthy smaller businesses to apply and take advantage of any such programs that can be developed. DATED: INTERNATIONAL CHRISTIAN GRADUATE UNIVERSITY BY: TITLE: r o o ~ r "" I'd. / / Amt. $ c Ck. # SAN BERNARDINO COUNTY MULTIFAMILY INDUCEMENT APPLICATION PART A: DEVELOPER INFORMATION 1. Name of Developer: Arrowhead Springs Ranch 2. Address of Developer:Arrowhead Springs, San Bernardino, CA Corpora t i on Partnershi pXX Other 3. Legal Status of Developer: Individual c 4. Contact Person: Phone: Steve Douglas, V .P., J\dministration (714) 886-5224 Canpus Crusade for Olrist International Warner W. Hodgdon, Project Manager PART B: PROJECT INFORMATION (Use separate form for each project) 1. Project Name: Arrowhead Springs Ranch 2. Project Addres,s: Arrowhead Springs 3. Parcel Number: See attached legal Census Tract: 4. No. Acres 1900 Approx. Sq. Ft. Approximately 1000 of 1900 acres 5. Status of land: ...xx... Owned (Since 1960 ) Optioned (Expiration Date ) 6. Va 1 ue of land $ Information to follow 7. Number of To ta 1 Units 5,000 Number of Affordable Units 1 ,000 C 8. Type of construction Information to follow Number of stories 2 Dens i ty du/ac. ( C' ice c r- c o 11. Timing: Anticipated Construction Start January Anticipated Completion Decanber 12. Estimated loan Amount: $ Not to exceed $350,000 1987 1990 :) Per Unit: $ Approximately 60,000 over 5 year construction wild out Net Operating Income (lines A-8,C-D) $ Debt Service $ (loan Amt. S ) (Rate 9.5 %) Estimated (Term 30 yrs.) 8 .C .:; -.. ...-J -..... ~~"O. tiT" o Q R 5 T U ~i".l . ", --, " . / . . ft-, - 1100 ') 1t-1-2~OO I "0" 11I-1-7200 I c "0" c , Q~~~DI DOO[;]~~~D ; _,.... .1 I...u I ~ ' 'G:J I I A-I . ..--..<....-: