HomeMy WebLinkAbout5/7/2003 - STAFF REPORTS (2) DATE: MAY 7, 2003
TO: COMMUNITY REDEVELOPMENT AGENCY
FROM: COMMUNITY DEVELOPMENT ADMINISTRATOR
VIA DIRECTOR OF COMMUNITY& ECONOMIC DEVELOPMENT
PALOS VERDES VILLAS TRANSFER OF OWNERSHIP
RECOMMENDATION:
It is recommended, per the Owner Participation Agreement between the ("Agency)
and Palo Verdes Villas, Inc. ("Participant') and the Covenants, Conditions and
Restrictions ('CC&Rs), that the Agency authorize the Executive Director, or his
designee, to forward a letter to the Participant approving the Transfer of Ownership,
in accordance with Section 5.2 of the OPA, to the Donia Family Trust, Steven Donia
and Corinna Everson, Three Bears Partners, L.P. and Jeanne S. Nigh Trust, all as
tenants in common.
BACKGROUND:
On February 2, 1992, the Community Redevelopment Agency approved an
OPA by Resolution No. 849 with Palos Verdes Villas, Inc. for the construction of
a 98-unit apartment complex at Camino Monte and Stevens Roads. The OPA,
as amended, pledged financial subsidy in an amount not to exceed
$1,468,635.00 in exchange for the dedication of twenty (20) units to be set
aside for low income persons, for a period of twenty (20) years to available to
households of 50% of median income.
On March 26, 2003 staff received correspondence from the prospective buyers
formally requesting from the Agency approval of the sale transfer, and has been
verified by the Participant on April 23, 2003.
The Participant has been operating under the OPA and the CC&Rs
appropriately since 1992 in accordance with all applicable laws. One of the four
parties does own two other multi-family developments in Southern California
(Chula Vista and Oceanside), 48 and 50 units respectively. Staff has verified
with those respective municipalities' code enforcement officials that those
properties are in compliance and being maintained in a good health and safety
manner, reflecting capacity to operate this property.
Therefore, the Participants equests and Staff recommend that the Agency
allow the perty's transfer.
jc�t
RAYM DALE E. COO , JR.
of Community Development
ity & Economic Development Administrator
APPROVED:
Executive Director T C
ATTACHMENT: Resolution
Palos Vefdes Villas
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City of Palm Springs
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V ✓xpt u( Community Redevelopment Agency
3200 Tahquitz Canyon Way • Palm Springs,California 92262
" co'^�lre+eo °'' TEL:(760)323-8197 •FAX:(760)322-8325 •TDD:(760)864-9527
Cq(1 FO RtoP Redevelopment• Community Development Block Grant•Housing
Recycling•Downtown Development
May 8, 2003
VIA 1"Class Mail& Fax 212/949-8001
Mr. Chuck Rubenstein
Palos Verdes Villas
1776 Broadway, 23`d Floor
New York, NY 10019
Dear Mr. Rubenstein:
Please find enclosed a certified copy of the Palm Springs Community Redevelopment Agency's
Resolution of yesterday evening which approves the Palos Verdes Villas' transfer to the Donia
Family Trust, Steven Donia and Corinna Everson, Three Bears Partners, L.P. and Jeanne S.
Nigh Trust, all as tenants in common.
Thank you. If you or your staff have any questions or need clarification, please don't hesitate
to contact Mr. Dale Cook, our Community Development Administrator, immediately by phone
at 760/323-8198 or via email at DaleCna Ci.palm-sprinas.ca.us.
Sincerely,
DAVID H. READY
Agency's Executive Dir or
ATT: Certified Resolution
Cc: John S. Raymond, Director of Community&Economic Development
Y Dale E. Cook, Jr., Community Development Administrator
Dave Savage,Three Bears Partners, L.P. (Fax 619/299-8536)
Scott Wilson, Wilson-Johnson(Fax 760/837-0036)
Post Office Box 2743 0 Palm Springs, California 92263-2743
RESOLUTION NO. im
OF THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS, CALIFORNIA
APPROVING THE TRANSFER OF PALO VERDES
VILLAS, A 98-UNIT RESIDENTIAL APARTMENT
COMPLEX, WITHIN MERGED PROJECT AREA #1
TO DONIA FAMILY TRUST, STEVEN DONIA AND
CORINNA EVERSON, THREE SEARS PARTNERS,
L.P. AND JEANNE S. NIGH TRUST, ALL AS
TENANTS IN COMMON.
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs
("AGENCY") has established an affordable housing set-aside fund in accordance with
Section 33000 et. Seq. of the California Health and Safety Code; and
WHEREAS, the Agency is engaged in activities necessary to execute and implement the
Redevelopment Plan for the North Palm Canyon Redevelopment project areas which
was adopted by Ordinance No. 1227 of the City Council of the City of Palm Springs on
September 19, 1984 and amended by Ordinance No. 1498 on December 21, 1994,
Ordinance 1576 on December 15, 1999, Ordinance No. 1584 on May 31, 2000, and
Ordinance 1623 on February 19, 2003; and
WHEREAS, by Resolution No. 849 dated February 19, 1992, the Agency approved an
Owner Participation Agreement ("OPA") with Palos Verdes Villas, Inc. ("Participant') for
the development of ninety-eight (98) unit apartment complex and setting twenty (20)
units for persons of low income; and
WHEREAS, the Agency entered a Regulatory Agreement and Declaration of Covenants,
Conditions and Restrictions with the Participant on January 19, 1994: and
WHEREAS, the Participant, Agency and the California Housing Finance Agency
("CH FA") entered a Subordination Agreement on January 30, 1995,whereby the Agency
agreed to subordinate its Use Restrictions to the CFHA Deed of Trust and the CHFA
Regulatory Agreement, in accordance with California Health and Safety Code Section
51335 (e), and amended by Resolution No. 1102 dated June 14, 2000; and
WHEREAS, the Participant has requested Agency approval to Transfer Ownership to
the Donia Family Trust, Steven Donia and Corinna Everson, Three Bears Partners, L.P.
and Jeanne S. Nigh Trust, all as tenants in common; and
WHEREAS, in order to effectuate the purposes of the OPA and the preserve
redevelopment of the Project Area and in particular this development, the Agency has
determined that it is of benefit to the project area to approve this transfer of ownership;
and
NOW, THEREFORE, be it resolved that the Community Redevelopment Agency of the
City of Palm Springs, California, does hereby approve the following:
6
SECTION 1. The Agency hereby determines that the project is of benefit to the project
area and is necessary to effectuate the purposes of the Redevelopment
Plan.
SECTION 2. The Executive Director, or his designee, is authorized to forward a letter
to the Participant on behalf of the Agency approving the Transfer of
Ownership, in accordance with Section 5.2 of the February 19, 1992
OPA, to the Dania Family Trust, Steven Dania and Corinna Everson,
Three Bears Partners, L.P. and Jeanne S. Nigh Trust, all as tenants in
common.
Adopted this 7th day of May 2003.
AYES: Agency Members Mills, Reller-Spurgin and Vice-Chair Oden
NOES: None
ABSENT: Agency Members Hodges and ChairtiiansK lei ndienst
ABSTAIN: None
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
By /s/ Patricia A. Sanders /s/ William G. Kleindienst
Assistant Secretary Chairman
REVIEWED AND APPROVED
4 HE:EWE CERTIFY THAT THE FOREGOING IS A TRUE CCT
OF USOLUTYON NO., (A 13 _T ULY A-W1,TT-'r" PY
THE C01104UNI—Ay UI DEVEI,C"PI"ASENI'AGE.NCr.'OF TTHE C�t C1`0
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:,. 017-1i OP t`L t'>240 CA YORNIA.
RESOLUTION NO.
OF THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS, CALIFORNIA
APPROVING THE TRANSFER OF PALO VERDES
VILLAS, A 98-UNIT RESIDENTIAL APARTMENT
COMPLEX, WITHIN MERGED PROJECT AREA #1
TO DONIA FAMILY TRUST, STEVEN DONIA AND
CORINNA EVERSON, THREE BEARS PARTNERS,
L.P. AND JEANNE S. NIGH TRUST, ALL AS
TENANTS IN COMMON.
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs
("AGENCY") has established an affordable housing set-aside fund in accordance with
Section 33000 et. Seq. of the California Health and Safety Code; and
WHEREAS, the Agency is engaged in activities necessary to execute and implement the
Redevelopment Plan for the North Palm Canyon Redevelopment project areas which
was adopted by Ordinance No. 1227 of the City Council of the City of Palm Springs on
September 19, 1984 and amended by Ordinance No. 1498 on December 21, 1994,
Ordinance 1576 on December 15, 1999, Ordinance No. 1584 on May 31, 2000, and
Ordinance 1623 on February 19, 2003; and
WHEREAS, by Resolution No. 849 dated February 19, 1992, the Agency approved an
Owner Participation Agreement ("OPA") with Palos Verdes Villas, Inc. ("Participant") for
the development of ninety-eight (98) unit apartment complex and setting twenty (20)
units for persons of low income; and
WHEREAS, the Agency entered a Regulatory Agreement and Declaration of Covenants,
Conditions and Restrictions with the Participant on January 19, 1994: and
WHEREAS, the Participant, Agency and the California Housing Finance Agency
("CHFA") entered a Subordination Agreement on January 30, 1995, whereby the Agency
agreed to subordinate its Use Restrictions to the CFHA Deed of Trust and the CHFA
Regulatory Agreement, in accordance with California Health and Safety Code Section
51335 (e), and amended by Resolution No. 1102 dated June 14, 2000; and
WHEREAS, the Participant has requested Agency approval to Transfer Ownership to
the Donia Family Trust, Steven Donia and Corinna Everson, Three Bears Partners, L.P.
and Jeanne S. Nigh Trust, all as tenants in common; and
WHEREAS, in order to effectuate the purposes of the OPA and the preserve
redevelopment of the Project Area and in particular this development, the Agency has
determined that it is of benefit to the project area to approve this transfer of ownership;
and
NOW, THEREFORE, be it resolved that the Community Redevelopment Agency of the
City of Palm Springs, California, does hereby approve the following:
C - 6
SECTION 1. The Agency hereby determines that the project is of benefit to the project
area and is necessary to effectuate the purposes of the Redevelopment
Plan.
SECTION 2. The Executive Director, or his designee, is authorized to forward a letter
to the Participant on behalf of the Agency approving the Transfer of
Ownership, in accordance with Section 5.2 of the February 19, 1992
OPA, to the Donia Family Trust, Steven Donia and Corinna Everson,
Three Bears Partners, L.P. and Jeanne S. Nigh Trust, all as tenants in
common.
Adopted this_ day of May 2003.
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary Chairman
REVIEWED AND APPROVED