HomeMy WebLinkAboutCC Resolution 6761 (Captains Cove Condominium)RESOLUTION NO. 6761
A RESOLUTION AUTHORIZING THE SIGNING OF A
CONTRACT, LEASE OR AGREEMENT
REGARDING BELOW MARKET RATE UNITS
WITHIN THE CAPTAINS COVE CONDOMINIUM PROJECT
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
Debra Homes regarding the provision of below market rate residential units
within the Captains Cove project, Smith Ranch Road at Yosemite
a copy of which is hereby attached and by this reference made a part hereof.
I, JEANNE M. LEONCINI, City Clerk of the City of San Rafael, hereby
certify that the foregoing resolution was duly and regularly introduced and
adopted at a
regular meeting
of the
City
Council
of said City
held on
Monday
the nineteenth
day
of
March
, 19
84 by the
following vote, to wit:
AYES: COUNCILMEMBERS:Breiner, Frugoli, Nave, Russom & Mayor Mulryan
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS:None
JE E . LEONC NI, City Clerk
'Al6k
4 p 15 6 'i:Wl tutu A I HLOUE51 OF
AGENCY SHOWN
A G R E E M E N T 1984 APR - 4 PM 3: 10
tr t C. I.., MARIN CCLI�iY CALIFORNIA
THIS AGREEMENT is made and entered into this day of 4,` ,W_r.B�IJ�E S[IAFEI,
19 `,'l between the CITY OF SAN RAFAEL, a municipal corporation (hereinafter
called "City"), and DEBRA INVESTMENT CORPORATION, a California corporation,
(hereinafter called "Developer"), and is based upon the following facts:
A. Pursuant to Condition "J" of ED 83-15 CITY OF SAN RAFAEL. No F�n OC6103
B. Developer intends to construct a residential housing development,
known as CAPTAIN'S COVE, on that certain real property situated
within the corporate limits of City, which real property is more
particularly described in Exhibit "A" attached hereto and incor-
porated herein.
C. The Planning Commission, on April 25, 1983 approved
Developer's proposed development with condition, which condition
stated:
1. The Developer sell all units at $85,000.00, or less,
(as modified by the Lee Saylor Index) from date of
Planning Commission approval; or,
2. The Developer provide 16 dwelling units for sale
through the Marin County Housing Authority at a
price affordable to a moderate income (110% of
median) family of 3.
NOW, THEREFORE, it is hereby agreed by and between the Parties hereto as
foll ows :
A. Developer agrees that the sales price of any unit within the complex
will not exceed $85,000.00 (adjusted by use of the Lee Saylor Index
from April 26, 1983).
B. Should the sales price of any unit exceed the limit established
in "A" above, the Developer agrees that, prior to the issuance of
any further permits or approvals, Developer will enter into an
agreement with the Marin County Housing Authority to provide 16
units consistent with C.Z. above. Eligibility criteria shall be
weighted to benefit acquisition of units by City of San Rafael
emergency employees.
C.• In order to provide the City with information supporting Devel-
oper's compliance with provision "A" above, Developer will instruct
Cal -Land Title of Marin to provide the City Planning Director with
sale price of unit after each closing of escrow.
D. Attorney's Fees: In the event either party to this Agreement shall
bring action or proceedings for damages for an alleged breach of any
provision of this Agreement, the prevailing party shall be entitled to
recover, as a part of such action or proceedings, reasonable attorney's
fees and court costs.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and
year first written above.
STATE OF CALIFORNIA
COUNTY OF SONOMA
On this )1-l_ 1 day of _ ,\ •._ , , , �_,,,•.. , 19 before methe undersigned Notary Public, personally appeared ) It �', ---
personally known to me CJ prove to me on
the basis o satisfactory evidence to be the person who executed the within instrument as
of the corporation and also known to me to be the person(s) who
executed the within instrument on behalf of the corporation therein named'and acknowledged to me
CiQCQaCWgexecuted the game _ _ _ - jF - -
��,� [t rlrl CLAS �`
lr,. LINDA TOWER
WITNESS my hand and official seal. o1Y'i-L NOTARY PUOLIC • CALIFORNIA
3. ,.I. v''' "
y rRulcn•nL ornrr w
- � COUNTY OF SONOMA
�1 IVIy Commission Expires Aug. 22, 1986