R 3663
RESOLUTION NO. 3663
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARROYO GRANDE CONSENTING TO THE APPROVAL BY
THE ARROYO GRANDE REDEVELOPMENT AGENCY OF
EXTENSION OF CERTAIN PROVISIONS OF A DISPOSITION
AND DEVELOPMENT/AFFORDABLE HOUSING AGREEMENT
BETWEEN THE ARROYO GRANDE REDEVELOPMENT
AGENCY AND COURTLAND-ARROYO GRANDE, L.P.
WHEREAS, the Arroyo Grande Redevelopment Agency ("Agency") and the Courtland-
Arroyo Grande, L.P, a California limited partnership ("Developer") entered into a
Disposition and Development/Affordable Housing Agreement ("Agreement") which
provides for the disposition and development as affordable senior housing of certain
real property located in the City of Arroyo Grande; and
WHEREAS, Developer has requested additional time for performance of certain
provisions of said Agreement; and
WHEREAS, extension of certain provisions of said Agreement is to be authorized by
the First Amendment to the Agreement;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arroyo as
follows:
1. The City Council finds and determines that an extension of certain provisions of
the Agreement is in the best interests of the Agency;
2. An amendment to the Agreement, copy of which is attached hereto as Exhibit
"A" and incorporated herein by this reference, is hereby approved.
3. The City Council consents that the Executive Director of the Agency is
authorized and directed to sign the Agreement on behalf of the Agency.
On motion by Council Member Runels, seconded by Council Member Dickens, and on the
following roll-call vote, to wit:
AYES: Council Members Runels, Dickens, Lubin, Costello and Mayor Ferrara
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted this 11th day of March, 2003.
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RESOLUTION NO. 3663
PAGE 2
ATTEST:
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KELLY . W TMORE, DIRECTOR OF ADMINISTRATIVE
SERVICES/DEPUTY CITY CLERK
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APPROVED AS TO CONTENT:
~~;1"~ .
STE EN ADAMS. CITY MANAGER
APPROVED AS TO FORM:
NEY
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FIRST AMENDMENT
PAGE 2
DEVELOPER:
COURTLAND-ARROYO GRANDE, L.P.
(a California limited partnership) ~
By: Foundation for Affordable Housing II, Inc.
a California Corporation
(Its: General Partner)
By:
Thomas E. Willard
Its: President
By: MFPA, Inc.
a California Corporation
(Its: General Partner)
By:
Sean Clark
Its: Vice-President
AGENCY:
ARROYO GRANDE
REDEVELOPMENT AGENCY, a public body,
corporate and politic I
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By: I
Steven Adams, Executive Director
ATTEST:
Kelly Wetmore
Director of Administrative Services/Agency Secretary
EXHIBIT "A"
FIRST AMENDMENT TO DISPOSITION AND
DEVELOPMENT/AFFORDABLE HOUSING AGREEMENT
BY AND BEnNEEN THE ARROYO GRANDE
REDEVELOPMENT AGENCY AND COURTLAND-
ARROYO GRANDE, L.P.
This FIRST AMENDMENT TO DISPOSITION AND
DEVELOPMENT/AFFORDABLE HOUSING AGREEMENT ("Agreement"), dated, for
identification purposes. only, as of March 11, 2003, entered into by and between the
ARROYO GRANDE REDEVELOPMENT AGENCY, a public body, corporate politic
("Agency") and COURTLAND-ARROYO GRANDE, L.P., a Califomia limited
partnership ("Develope!"").
WHEREAS, AGENCY and DEVELOPER entered into a Disposition and
Development/Affordable Housing Agreement dated as of March 20, 2002, under which
DEVELOPER was to develop not fewer than eighty-one (81) and up to one hundred
eight (108) dwelling units;
WHEREAS, Pursuant to Section 7.10 of the Agreement, the Executive Director has
extended the time for performance of certain provisions of the Agreement pursuant to
Section 7.10;
WHEREAS, DEVELOPER has requested that the time for performance of certain
provisions of the Agreement be extended;
NOW, THEREFORE, in consideration of the premises and for other valuable
consideration the receipt of which is hereby acknowledged, the parties hereto agree as
follows:
A. Attachment #3 to the Agreement entitled "Schedule of Performance" is i
amended and replaced in its entirety as shown in Exhibit "1- attached I
hereto and incorporated herein by this reference. !
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B. All other terms and conditions of the Agreement shall remain the same. r
IN WITNESS WHEREOF, AGENCY and DEVELOPER have executed this First
Amendment to Disposition and Development/Affordable Housing Agreement as of the
date first written above.
RESOLUTION NO. 3663
OFFICIAL CERTIFICATION
I, KELLY WETMORE, Director of Administrative Services/Deputy City Clerk of
the City of Arroyo Grande, County of San Luis Obispo, State of California, do
hereby certify under penalty of perjury, that Resolution No. 3663 a true. full, and
correct copy of said Resolution passed and adopted at a regular meeting of the
City Council/Redevelopment Agency of the City of Arroyo Grande on the 11th day
of March, 2003.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this14th
day of March, 2003.
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KELLY ET RE, DIRECTOR OF ADMINISTRATIVE SERVICES/
DEPUTY CITY CLERK
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