HomeMy WebLinkAboutCC Resolution 6885 (Meadow Oaks BMR)RESOLUTION NO. 6885
A RESOLUTION AUTHORIZING THE SIGNING OF A
CONTRACT, LEASE OR AGREEMENT
THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows:
The MAYOR and CITY CLERK are authorized to execute, on behalf of
the City of San Rafael, a contract, lease or agreement with
JOINT POWERS AGREEMENT WITH BARRATT NORTHERN CALIFORNIA AND ANY
SUCCESSORS IN INTEREST AND THE NARIN COUNTY HOUSING AUTHORITY RE-
GARDING BELOW MARKET RATE UNITS AT MEADOW OAKS,
a copy of which is hereby attached and by this reference made a part
hereof.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael, hereby
certify that the foregoing resolution was duly and regularly intro-
duced and adopted at a regular meeting of the City Council of said
City held on Mondav the sixth day of August ,
1984 , by the following vote, to wit:
AYES: COUNCILMEMBERS: Breiner, Frugoli, Nave & Mayor Mulryan
NOES: COUNCILMENIBERS: None
ABSENT: COUNCILMEMBERS: Russom
JE NE M. LEONCI_I, City Clerk
Se.
K'.
• • - • • - 6 III L 14 1
Project Name: MEADOW OAKS
Location: 54 San Pablo Avenue, San Rafael
Developer: Barratt Northern California, Inc., or any successor in
interest
This Agreement is made and entered into this 6th day of August 1984,
among the CITY OF SAN RAFAEL, a municipal corporation (hereinafter referred
to as "the City"), the HOUSING AUTHORITY OF THE COUNTY OF MARIN, a public
body, corporate and politic, created under the Housing Authority Law of the
State of California (hereinafter referred to as "tire Authority"), and Barratt
Northern California, Inc., or any successor in interest (hereinafter referred
to as "the Developer").
A. The Developer intends to construct a residential housing development on
that certain real property situated within the corporate limits of the
City, which real property is more particularly described in Exhibit "A"
attached hereto and incorporated herein.
B. The City, in accordance with the provisions of TS 83-6(b) CITY OF SAN
RAFAEL, has approved the Developer's proposed development on condition
that the Developer provide therein thirteen (13) dwelling units to be sold
at prices which are within the means of moderate -income families.
C. The Authority is authorized by law to participate in programs which
provide housing for families of low and moderate income, and is by
experience qualified to screen and determine eligibility of applicants for
low and moderate -income housing.
The parties hereto desire, by this Agreement, to cooperate in implementing the
efforts of the Developer to comply with the requirement that the Developer
make available said dwelling units at prices which are within the means of
moderate -income families.
11014 THEREFORE, it is hereby agreed by and between the parties hereto as
follows:
1. The Developer agrees that thirteen (13) dwelling units within the project
approved by the City for the property described in Exhibit "A" attached
hereto will be sold to moderate -income families in accordance with the
terms and pursuant to the procedures set forth in this Agreement. Said
dwelling units are identified in Exhibits "A-1" and "B" attached hereto
and will be legally described on the condominium plan recorded for the
property prior to issuance of building permits for Phase II. Said
dwelling units are hereinafter referred to as "the Units."
2. The Developer agrees that the selling price for the Units shall not exceed
the prices set forth in Exhibit "B" attached hereto.
3. The Developer agrees to offer the Units for sale only to individuals or
families who have been certified as eligible by the Authority.
4. The Caveloper further agrees to notify the Authority at least one hundred
and twenty (120) days prior to estimated issuance of Certificate of
copyupancy.
Doc 0037E/MEADOW OAKS BMR Agreement 840709
f�. The Authority agrees to process applications and certify eligibility of
applicants as pe- ns or families of moderate inc a. A family or indivi-
dual shall be deemed to qualify as a moderate -income applicant provided
the income of such family or individual does not exceed one hundred twenty
percent (120%) of the median income for Marin County as determined by the
United States Department of Housing and Urban Development with adjustments
for smaller or larger families. In certifying eligibility of applicants,
the Authority shall adhere to the priorities and preferences adopted by
the City and attached hereto as EXHIBIT "C".
Preference for individuals or families falling within any of the
priorities established in EXHIBIT "C" shall be determined by lottery or
other equitable method mutually agreed upon by the City and the Authority.
The Authority shall be paid a fee of $500 per unit to be paid by the
buyer, which payment shall be included in the buyer's closing costs upon
sale of the Unit.
b. In the event that any Unit remains unsold at the end of one hundred twenty
(120) days from the date of issuance of a Certificate of Occupancy by the
City for the phase of development in which the subject unit is located,
the Developer shall notify the Authority in writing of such fact. Within
ten (10) working days after receipt of such written notice, the Authority
or its assignee may notify the Developer in writing that it will purchase
such Unit. If such notice is given by the Authority, the Developer shall
then sell such Unit to the Authority or its assignee at the same price it
would have been available for sale to families of moderate income. As
used herein, the term "sold" shall mean the execution of a contract for
purchase and the approval of a mortgage loan for the buyer.
In the event that the Authority or its assignee declines to purchase such
Unit, it may be sold by the Developer on the open market without
restriction as to price. In such event, the Developer shall pay to the
City from the sale price of such Unit seventy-five percent (75%) of the
difference between the market price achieved and the below -market -rate
sales price specified in Exhibit "B". Said sum shall be paid to the City
upon close of escrow on the sale of such Unit or, if the sale is pursuant
to a contract of sale, upon execution of such contract, whichever shall
first occur. The City shall pay to the Authority ten percent (10%) of
this sum for the Authority's use in administering Below Parket Pate
projects including, but not limited to, on-going BMP. monitoring and future
BMR re -sales. The balance of any such payments made to the City shall be
retained by the City in a special account to be used solely for activities
which it deems will facilitate the provision of housing for persons of low
or moderate income.
7. The Developer's brochures shall include reference to the fact that a
limited number of Units within the project will be made available to
qualified buyers of moderate income. All buyers will evidence their
individual knowledge of this program on their purchase agreement.
8. Each deed or contract conveying a Unit to an applicant certified by the
Authority shall contain a restriction constituting a right of first
refusal, pursuant to which the buyer agrees that prior to selling the
property, it will first be offered for sale to the Authority or its
assignee, in writing. Said deed restriction shall be in the form of an
attachment to the Grant Deed provided by the Authority which shall be
incorporated by reference and recorded with the Grant Deed.
MEADOW OAKS/Barratt Northern California, Inc.
City of San Rafael/Housing Authority of the County of Marin -2-
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be sent by First -ass Mail and deposited postage -epaid in the United
States Mail Servi, in Marin County, California, a •essed as follows:
To the City: Planning Department, City of San Rafael
1400 Fifth Avenue
San Rafael, California 94901
Attention: Jean Freitas, Associate Planner
To the Authority: Housing Authority of the County of Marin
P. 0. Box 4282
San Rafael, CA 94913
Attention: Janet Miller Schoder, Executive Director
To the Developer: Barratt -Northern California
3150 Almaden Expressway, Suite 245
San Jose, California 95118
Attention: Joseph M. Head, Senior Vice President
Any party may change the address to which notice shall be mailed to it by
giving notice thereof to the other parties by certified mail.
10. The parties agree that, upon demand, they will subordinate this agreement
to a purchase money loan secured by a first deed of trust from a
recognized institutional lender to the extent this agreement may affect
the rights of said lender under the deed of trust and its ability to sell
said mortgage to either the Federal Home Loan Mortgage Corporation or the
Federal National Mortgage Association.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day
and year first above written.
CITY OF SAN RAFAEL HOUSING AUTHORITY OF THE
/ COUNTY OF MARIN
By: AC By:
LARENCE E. MULRYAN, Payor
ATTEST:
By:.
City Clerk
JEANNE M. LEONCINI
STATE OF CALIFORNIA SANTA CLARA
COUNTY OF _ .
On.____ June 28, 1984 , before me, the undersigned, a Notary Public in and for
Joseph M. Head X"
►ss.
ATTEST:
BY
Secretary
said State, personally
personally known to me (or proved to me on the
basis of satisfactory evidence) to be the persons who executed the within instrument
Senior Vice President4X(3X i6? OtKtXK)On behalf
BARRATT NORTHERN CALIFORNIA, INC. ,
the corporation therein named, and acknowledged to me that t.e�leeet�ee:c::euauu��assecyamee�eggtaet��o3t:ati:euaasG
•' OFFICIAL SEAL
such corporation executed the within instrument pursuant to its ;; 1
ROBIN M. DAIiLSTED
by-laws or a resolution of its board of directors. NUTnkY PUBLIC — CALIFORNIA b
WITNESS my hand and official seal. h
COUNTY OF SANTA CLARA n
Comm. Exp. Feb. 16, 1988
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Project Name: MEADOW OAKS Date: August 6, 1984
Location: 54 San Pablo Avenue, San Rafael
Developer: Barratt Northern California, Inc., or any successor in
interest
Legal Description of the Project and the Individual Parcels, if appropriate:
DESCRIPTION:
All that certain Real Property situated in the City of San Rafael, County of
Marin, State of California, described as follows:
COMMENCING at a point on the Northeasterly line of San Pablo Avenue, said
point being the most Southerly corner of the parcel conveyed to Louis Martini,
et ux, by Deed recorded October 27, 1949 in Book 616 of Official Records, at
page 374, Marin County Records; running thence along said Northeasterly line
and the Southeasterly line of said Avenue, South 21032' East 164.44 feet;
thence South 23046' West 88.00 feet to the most Northerly cornet- of the
parcel conveyed to Edward Screttrini by Deed recorded October 27, 1949 in
Book 631 of Official Records, at Page 35, Marin County Records; running thence
along the Northeasterly, Southeasterly and Southerly lines of said parcel,
South 66014' East 85.00 -Feet, South 23046' West 90.00 feet and
South 87043' West 94.61 feet to the Southeasterly line of said San Pablo
Avenue; thence along said Southeasterly line South 23046' West 500.45 feet,
more or less, to the most Northerly corner of parcel conveyed to James G.
Paganetti, by Deed recorded April 18, 1960 in Book 1360 of Official Records,
at Page 561, Marin County Records; thence along the Northeasterly and
Southeasterly lines of said parcel, South 48049' East 100.0 feet and
South 23029' West 90.0 feet to the Northeasterly line of the parcel conveyed
to C.J. Kalberer, by Deed recorded February 11, 1927 in Book 111 of Official
Records, at Page 285, Marin County Records; thence along said line,
South 48049' East 1403.3 feet to the most Easterly corner of said parcel;
said corner being on the San Pedro Ridge and being the Northerly line of the
"Coleman Tract"; thence along said ridge North 55042' East 296.2 feet,
North 88021' East 691.6 feet and North 39032' East 219.4 feet to the
Southwesterly line of the parcel conveyed to John Z. Fung, et ux, by Deed
recorded June 27, 1947 in Book 553 of Official Records; at Page 237, Marin
County Records; thence along said line, North 47018' West 181.44 feet, more
or less to an angle point in said line that is common to the courses of
South 37022' East 191.05 feet and South 47018' East 181.44 feet, more or
less, as set forth in said Deed; thence still along said line, North 37022'
West 191.05 feet, florth 41054' gest 150.82 feet, North 11054' West 140.32
feet and North 0051' West 176.5 feet to the Southwesterly line of the parcel
conveyed to John Z. Fung, et ux, by Deed recorded October 30, 1946 in Book 538
of Official Records, at Page 53, Marin County Records; thence along said line,
North 48015' West 285.23 feet, North 48048' West 369.95 feet and
North 62008' West 1070.0 feet, more or less, to a point that bears
North 44006' East from the point of commencement and thence South 44006'
West 204.0 feet, more or less, to the point of commencement.
MEADOW OAKS/Barratt Northern California, Inc.
City of San Rafael/Housing Authority of the County of Marin -4-
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Project Name: MEADOW OAKS Date: August 6, 1984
Location: 54 San Pablo Avenue, San Rafael
Developer: Barratt Northern California, Inc., or any successor in
interest
Total Number of
Units in Development: 140
Number of BMR Units: 13
Phase* No. of Units
SCHEDULE OF BMR UNITS AND SALES PRICES
Type Plan or Unit No.
9 2 BR (small) Units No. 17, 21, 43, 47,
67, 71, 123,
133, 135
4 2 BR (large) Units No. 27, 38, 51, 138
Sales Price**
$51,400
$57,800
* The construction phasing and distribution of the BMR Units shall be:
Phase
I:
0
Units
Phase
II:
6
Units --2
large / 4 small
Phase
III:
3
Units --1
large / 2 small
Phase
IV:
4
Units --1
large / 3 small
Phase
V:
0
Units
Phase
VI:
0
Units
** Followirg are the family sizes and incomes used to establish the sales
price for each unit.
Type of Unit Family Size 90% of Median Income 1007, of Median Income
2 BR (small) 2 ------- $27,200
2 BR (large) 3 ------- $30,600
- Continued on next page -
MEADOW OAKS/Barratt Northern California, Inc.
City of San Rafael/Housing Authority of the County of Marin
-5-
Exhibit "B"/MEADOW OAKS (cont'd)
The sales prices have been established based on the above incomes, current
industry mortgage rates and debt -to -income ratio as follows:
Mortgage Rate/Term
Loan -to -Value Ratio
14.5% / 30 -year fixed
90%
Percentage of Gross Monthly Income for
Mortgage Payment (Principal and Interest) 25%
Recalculation of the above sales prices shall be permitted if it is determined
that the above -stated mortgage rate is different from the then -current market
interest rate at a time one hundred twenty (120) days prior to the issuance of
a Certificate of Occupancy. At that time the sales price shall be
recalculated by the Authority using the most affordable prevailing mortgage
rate for a 30 -year, fixed-rate mortgage as determined by the Authority. An
adjustment to the sales price shall be allowed more than one time only if
mutually agreed by all the parties to this Agreement.
MEADOW OAKS/Barratt Northern California, Inc.
City of San Rafael/Housing Authority of the County of Marin -6-
EXHIBIT "C"
Project Name: MEADOW OAKS
Location: 54 San Pablo Avenue, San Rafael
Date: August 6, 1984
Developer: Barratt Northern California, Inc., or any successor in
interest
In certifying eligibility of applicants for the subject project, the Authority
shall give priority as follows:
Qualifications for Lottery
1. The applicant's income must fall within the specified income
limitations (can not exceed 120% of median income).
2. The applicant's assets may not exceed 75% of the sales price of the
unit.
3. The applicant may currently own no other residence.
4. For the large two-bedroom units, the applicant must have a household
size of at least three, or must be a single -parent with at least one
child.
Priority for Lottery Selection
1. First priority shall be given to persons working permanently,
full-time for the City of San Rafael.
NOTE: No more than six units shall be allocated to this first
priority.
2. Second priority shall be given to persons living or working
permanently, full-time in San Rafael.
3. Third priority shall be given to persons living or working
permanently, full-time in Marin County.
4. Fourth priority shall be given to all other applicants.
MEADOW OAKS/Barratt Northern California, Inc.
City of San Rafael/Housing Authority of the County of Marin -7-