HomeMy WebLinkAbout18380 - RESOLUTIONS - 5/4/1994 RESOLUTION NO. 18380
OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS, CALIFORNIA, APPROVING
THE FIRST AMENDMENT TO REGULATORY
AGREEMENT AND DECLARATION OF
COVENANTS AND RESTRICTIONS FOR
SANDSTONE VILLAS ("DEVELOPER")
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WHEREAS, the City Council of the City of Palm Springs,
California, is authorized„ pursuant to the Health and Safety Code
of the State of California (the "Law") to provide affordable
housing to individuals of low/moderate income within the City of
Palm Springs; and
WHEREAS, a Regulatory Agreement and Declaration of Covenants
and Restrictions was approved on March 2 , 1994, providing for 31
units to be designated and available to families of low/moderate
income; and
WHEREAS, it is the Developers desire to modify and amend the
location of five (5) of the designated units as originally
identified,
NOW, THEREFORE, BE I:T RESOLVED by the City Council for the
City of Palm Springs as follows:
Section 1: The City Council herein agrees to the
redesignation of five (5) of the 31 restricted
units as identified in Exhibit C and D of the
First Amendment to the Regulatory Agreement. ,
Section 2 : The City Council herein ratifies the execution
of the First Amendment.
Section 3 : The City Manager and/or his designee is hereby
authorized and directed, for and on behalf of
the City Council, to sign any similar future
amendments to the Regulatory Agreement
regarding the redesignat:i.on of restricted
units.
Section 4 : The City Clerk is hereby authorized to record
said First Amendment to the Regulatory
Agreement and Declaration of Covenants and
Restrictions in the Office of the County
Recorder, Riverside County, California.
ADOPTED this 4th ___day of May , 1994.
AYES: Members Hodges, Lyons, Reller-Spurgin, Schlendorf and Mayor Maryanov
NOES: None
ABSENT: None -�
ATTEST: C7 ALM ffiP , (:ALIFORNIA
--'City Clerk C iage
REVIEWED & APPROVED