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HomeMy WebLinkAbout83-37 - ResolutionsRESOLUTION NO. 83-3? A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA ADOPTING A MULTI-FAMILY RENTAL HOUSING MORTGAGE FINANCE PROGRAM IN COOPERATION WITH 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 COUNTY OF SAN BERNARDINO AND THE CITY WHEREAS, there is a shortage in the county of San Bernardino (the "County") and in the city of Raneho Cueamonga (the "City") of decent, safe and sanitary rental housing, particularly of housing affordable by persons in the lower end of the income spectrum and a consequent need to encourage the construction of rental housing affordable by such persons and otherwise to increase the rental housing supply in the county and in the City for such persons; and WHEREAS, the Board of Supervisors of the County has declared its intent to adopt a multi-family rental housing mortgage finance program (the "Program") pursuant to Chapter 7 of Part 5 of Division 31 of the 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, this Council finds and determines that it is in the best interest of the City to adopt the Program and to consent to the operation of the Program by the County within the geographic boundaries of the City pursuant to the Act; and WHEREAS, the City of Rancho Cucamonga is providing the opportunity for other forms of other housing finance revenue bond programs in this City; and WHEREAS, the approval of this Resolution or the execution of the accompanying Cooperation Agreement does not obligate the City in any way with the approval of any specific multi-family projects which may qualify under terms of the Act. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Rancho Cucamonga, as follows: 1. This City Council does hereby find and declare that the above recitals are true and correct. The City hereby adopts the Program for the purpose of increasing the rental housing supply in the County and in the City and consents to the operation of the Program by the County with respect to suitable project site located within the geographical boundaries of the City, provided however, that the City can execute agreements with any developers of projects participating in Housing Finance Bond Programs of both the City and the County to limit problems which may in the opinion of the City cause harm to its own Housing Finance Bond Program. , The Cooperative Agreement, dated as of April 1, 1983, between the County and the City (the "Agreement"), a copy of which is attached hereto as Exhibit "A:, is hereby approved, and the Mayor and City Clerk are hereby authorized and directed to Resolution No. 83-37 Page 2 execute and deliver said Agreement, for and in the name and on behlf of the City. The Mayor, with the advice and consent of the City Attorney, is authorized to approve any additions 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 agreements with the County, 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. 4. This Resolution shall take effect from and after its adoption. PASSED, APPROVED, and ADOPTED this 16th day of March, 1983. AYES: Dahl, Buquet, Schlosser, Frost, Mikels NOES: None ABS=.?: None ATTEST: La~ren Wasserman, City Clerk Resolution No. 83-37 Page 3 EXHIBIT "A" COOPERATIVE AGREEMENT BETWEEN THE COUNTY OF SAN BERNARDINO AND THE CITY OF RANCHO CUCAMONGA THIS COOPERATIVE AGREEMENT (this "Cooperative Agreement") is hereby made and entered into as of April 1, 1983 by and between the COUNTY OF SAN BERNARDINO, a legal subdivision and body corporate and politic of the State of California (the "County"), and the CITY OF RANCHO CUCAMONGA, a municipal corporation located in the County (the "City"). WITNESSETH: WHEREAS, the County has determined to engage in a multifamily rental housing mortgage finance program (the "Program") pursuant to Chapter 7 of Part 5 of Division 31 of the Health and Safety Code of the State of California (the "Act"), to finance construction loans or mortgage loans for the development of multifamily rental housing in the County, all as provided for in the Act; and WHEREAS, the County 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 County 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 County Program within the City's corporate limits including the Program Site(s). NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agree as follows: SECTION 1: The words and phrases of this Cooperative Agreement shall, for all purposes hereof unless otherwise defined herein, have the meanings assigned to such words and phrases in the Act. SECTION 2: The County agrees to use its best efforts to undertake the Program and to issue the Bonds therefore as soon as the County determines the same to be necessary and advisable. 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 55301, and (iii) Program and Program Site(s) will comply with said land use element and housing element. SECTION 4: The City agrees that the County may make multifamily rental housing mortgages under the Program, all as more specifically set forth in the Act, on and with respect to that certain property/properties located within the geographic boundaries of the City. The County may exercise any and all of the City's powers for the purpose of financing multifamily rental housing mortgages pursuant to the Act with respect to such property which may be approved for financing within this Program. SECTION 5: The County agrees that no multifamily rental housing mortgages secured by real property located within the City shall be made or purchased with proceeds of the Bonds before April 15, 1983. The City shall not participate in any other multifamily rental housing mortgage finance program which provides financing for multifamily rental housing projects at Resolution No. 83-37 Page 4 Program Site, which may be approved for financing within this Program, and the Program relating to the Bonds shall be the sole such finance program for such Program Site(s). SECTION 6: 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 County 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 7: Nothing in this Cooperative Agreement shall prevent the County 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 County or the City, nor shall anything in this Cooperative Agreement be construed as limiting the exercise by the County or the City of any of their respective applicable powers or authorities at any place other than the Program Site(s) herein. SECTION 8: This Cooperative Agreement may be amended by one or more supplemental agreements executed by the County 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 County in connection with the Program. SECTION 9: The term of this 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 agreement for the Program, provided that any mortgage loan made under the Program with respect to the Program Site(s) shall not be affected by the term or termination of this Cooperative Agreement. 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. COUNTY OF SAN BERNARDINO (SEAL) ATTEST: By Chairman of the Board of Supervisors Clerk of the Board of Supervisors APPROVED AS TO FORM: County Counsel (SEAL) ATTEST: Resolution No. 83-37 Page 5 CITY OF RANCHO CUCAMONGA By Jon D. Mikels, Mayor Lauren M. Wasserman, City Clerk APPROVED AS TO FORM: City Attorney