HomeMy WebLinkAboutAGENDA REPORT 2007 1017 CC REG ITEM 10M ITEM
1 O. M•
City Council Meet nt,
of
ACTION:
MOORPARK CITY COUNCIL
AGENDA REPORT Ry:
To: Honorable City Council
From: David C. Moe II, Redevelopment Manager J 1
Date: October 5, 2007 (City Council Meeting of 10/17/07)
Subject: Consider Resolution Authorizing the Acquisition of 396 and 436
Charles Street and Accepting the Grant Deeds for Recordation
BACKGROUND AND DISCUSSION
In accordance with Development Agreement dated August 30, 2007, Toll Land XX
Limited Partnership has acquired the properties of 396 and 436 Charles Street
("Properties") to satisfy a portion of their affordable housing requirement for Tract 5463
and 5464, and is now prepared to transfer the Properties 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. 2007 —
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. 2007 -
ATTACHMENT A
RESOLUTION NO. 2007 —
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, APPROVING ACQUISITION OF 396
AND 436 CHARLES STREET AND ACCEPTANCE OF GRANT
DEEDS
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 396
& 436 Charles Street ("Properties"); and
WHEREAS, Toll Land XX Limited Partnership has acquired fee title of the
Properties and is desirous to transfer the Properties to the City of Moorpark; and
WHEREAS, The City of Moorpark accepts the Properties 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 deeds.
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 17th day of October, 2007.
Patrick Hunter, Mayor
ATTEST:
Deborah S. Traffenstedt, City Clerk
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