HomeMy WebLinkAboutAGENDA REPORT 2008 0319 CC REG ITEM 10OMOORPARK CITY COUNCIL
AGENDA REPORT
To: Honorable City Council
From: David C. Moe II, Redevelopment Manager
Date: March 19, 2008 (CC Meeting of 3/19/08)
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Subject: Consider Resolution Authorizing the Acquisition of 406 Charles
Street and Accepting the Grant Deed for Recordation
BACKGROUND AND DISCUSSION
In accordance with the Development Agreement dated August 30, 2007, Toll Land XX
Limited Partnership has acquired the property of 406 Charles Street ( "Property ") to
satisfy a portion of their affordable housing requirement for Tract 5463, and is now
prepared to transfer the Property to the City of Moorpark. At a later date, the City of
Moorpark will transfer the Properties to the Redevelopment Agency of the City of
Moorpark for development of an affordable housing project.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2008 - ;
2. Authorize the City Manager to execute all documents necessary to this
transaction; and
3. Authorize the City Clerk to accept and consent to the recordation of any deeds.
Attachment "A" Resolution No. 2008 -
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ATTACHMENT A
RESOLUTION NO. 2008 —
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, APPROVING ACQUISITION OF 406
CHARLES STREET AND ACCEPTANCE OF GRANT DEED
WHEREAS, the Development Agreement between the City of Moorpark and Toll
Land XX Limited Partnership was recorded September 6, 2007; and
WHEREAS, Section 6.9 of the Agreement allows Toll Land XX Limited
Partnership to satisfy a portion of their affordable housing requirement by acquiring 406
Charles Street ( "Property "); and
WHEREAS, Toll Land XX Limited Partnership has acquired fee title of the
Property and is desirous to transfer it to the City of Moorpark; and
WHEREAS, The City of Moorpark accepts the Property to further affordable
housing activities.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Clerk shall accept and consent to the recordation of the
grant deed.
SECTION 2. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 19th day of March, 2008.
Patrick Hunter, Mayor
ATTEST:
Deborah S. Traffenstedt, City Clerk
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