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Home My WebLink AboutA3618 - CVHC HOUSING COALITION COYOTE RUN SEC 35 LAND SALE REIMBURSEMENT CRA R 991 Sec 35-Land Sale & Reimburse (! Reimbursement Agreement (Coyote Run Apts) c,2: AGREEMENT #3618 (A361C) R991, 11-15-95 REIMBURSEMENT AGREEMENT -—- - - - - - - - --- --_ THIS REIMBURSEMENT AGREEMENT ( "Agreement" ) is entered into this / day of -1 )'_ >" / c/ , 1995 ( "Effective Date") , by and between the CITY OF PALM SPRINGS, a municipal corporation ( "City" ) , and COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PhJM SPRINGS, a public body, corporate and politic ( "Agency" ) . R E C I T A L S A. City, Agency, and Coachella Valley Housing Coalition ( "Developer" ) entered into a Disposition and Development Agreement, with a reference date of January 2, 1991 (the "DDA") . B. Pursuant to the DDA the parties effected a transaction whereby City funds were advanced to Agency to permit the Agency to acquire 15 . 18 acres of real property, which the Agency then conveyed to Developer for the development of an affordable housing project . C. City and Agency intended that Agency reimburse City the fair market value for the 15 . 18 acre site, but discovered that Agency inadvertently failed to reimburse the City. D. Agency is authorized under Health and Safety Code Sections 33334 .2 et sec . to expend funds in its Low and Moderate Income Housing Fund ( "Housing Funds") for purchase of real property for affordable housing, and thus the Agency is authorized to use Housing Funds to reimburse City. E. The fair market value of the 15 . 18 acre site as undeveloped property has been determined to be Five Hundred Seventy-Seven Thousand Dollars ($577, 000) . F. The City and Agency desire to enter into this Reimbursement Agreement to provide the Agency' s reimbursement, from Housing Funds, to City in the amount of Five Hundred Seventy-Seven Thousand Dollars ($577, 000) . A G R E E M E N T NOW, THEREFORE, in consideration of the foregoing Recitals and for good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows : 1. Recitals Incorporated. The above Recitals are incorporated herein and made a part hereof. PS2\394\014084-0012\2169678.1 u11/16/95 2 . Reimbursement. Agency, within thirty (30) days of the Effective Date, shall reimburse City, from Housing Funds, in the principal amount of Five Hundred Seventy-Seven Thousand Dollars ($577, 000) . No interest shall be paid on the reimbursement amount. 3 . Indebtedness of Agency. The reimbursement set forth herein shall constitute an indebtedness of Agency within the meaning of the Community Redevelopment Law (Health & Safety Code §33000 et sec . ) . 4 . Subordination. Agency' s reimbursement set forth in this Agreement shall be junior to and subordinate to, (i) all Agency tax allocation bonds or other direct short-term or long-term indebtedness of Agency, (ii) all pledges by Agency of tax increments for tax allocation bonds or other direct short-term or long-term indebtedness of Agency, (iii) Agency financial agreements or other contractual obligations of Agency, and (iv) any contingent obligations of Agency. This subordination provision shall be applicable to all of such Agency obligations whether such obligations were or are incurred prior to or after the Effective Date of this Agreement. 5 . Nonrecourse Obligation. No officer, official, member, employee, agent, or representative or Agency or City shall be liable for any amounts due hereunder, and no judgment or execution thereon entered in any action herein shall be personally enforced against any such officer, official, member, employee, agent, or representative. 6 . Severability. Each provision of this Agreement shall be severable from the whole. If any provision of this Agreement shall be found contrary to law, the remainder of this Agreement shall remain in full force and effect. 7 . Entire Agreement. This Agreement shall constitute the entire agreement of the parties hereto. This Agreement may be amended or modified by an agreement in writing signed by the authorized representatives of the parties, after any and all required actions by the parties' respective governing boards . 8 . Authorization. By official action of the City Council and Agency, each party hereto has authorized the entering into this Agreement by such respective party and the signing of this Agreement by the City Manager on behalf of City, and by the Agency Executive Director on behalf of Agency. [end - signature page follows] PS2\394\014084-0012\2169678.1 .11116/95 -2- IN WITNESS WHEREOF the parties hereto have entered into this Agreement as of the Effective Date. "CITY" CIT OF PALM SPRIN By: C' Man ger ATTEST: \, ' ty Clerk APPROVED AS TO FORM: Cit torney "AGENCY" CO 79 OPMENT AGENCY OF E CITY OF P PRINGS By: Exe e Di ector ATTEST: Attu Secretary � � APPI-OVE0 BY HE C0h$V1UN iiY R EGEV. APPROVED AS TO FORM: AGENCY 3Y RES. MO. C-- Agenc �— Sunsel APP20 rED B T HE CITY COUNCIL BYRES. NO. F52\394\014084-0012\2169678.1 all/16/95 -3- AM" ACCORD® CERTIFICATE OF LIABILITY INSURANCE K � Dar9(MMIDonyrn 111 9/14/2023 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the Certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsements . PRODUCER CONTACT NAME: Arthur J. Gallagher Risk Management Services, LLC _ _ FAIL 500 N Brand Boulevard, Suite 100 A C."No Sao, 818-539-2300 No): 818-53&2301 E-MUL ------ ADDRESS: Glendale CA 91203 INSURER(S) AFFORDING COVERAGE NAIL INSURER A: Nonprofits' Insurance Alliance of California Inc. QU§9292 INSURED CAOCVAL-01 INSURER B: Coyote Run LP Coachella Valley Housing Coalition INSURER C: 45701 Monroe Street Suite G INSURER D: Indio CA 92201 INSURER E: _ INSURER F: COVERAGES CERTIFICATE NUMBER: 376966121 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS. EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. TYPE OF INSURANCE POLICY NUMBER MMDD/YYFF PWDMYYP LIMITS A X COMMERCIAL GENERAL LABILITY CLAIMS -MADE OCCUR 2022.06935 10/18/2022 1OM8/2023 j FACHOCCURRENCE $1,000.000 PREMISESEeoo mnce $600.000 MEDEXP(An onepenKa,) $20,000 GEN'L X PERSONAL a ADV INJURY $1,000,000 AGGREGATE LIMIT APPLIES PER: POLICY D jECT LOC OTHER: GENERAL AGGREGATE $ 3,000.OD0 PRODUCTS - COMP/OP AGG $3,000,000 S AUTOMOSSELIABILRY ANY AUTO OWNED SCHEDULED AUTOS ONLY AUTOS HIRED No WED AUTOS ONLY AUTOS ONLY COMBINED SINGLE LIMITS fU aood nt BODILY INJURY (Par person) S BODILY INJURY (Per accident) f PROPERTY DAMAGE Par si $ S A X UMBRELLA LIAR X OCCUR EXCESS LIAR CWMS-MADE DED I RETENTION 2022-OEB35-UMB 10/16/2022 10/18=3 EACH OCCURRENCE $5.000,000 AGGREGATE $5.000,000 S WORKERS COMPENSATION AND EMPLOYERS'LIABILRY YIN ANYPROPRIETORMARTNER/EXECUTIVE OFFICER/MEMBEREXCLUDED9 (Mandatory In NH) If yes, descmoe under OE SCRIPTION OF OPERATIONS Wwr N/A TAT A E.L.EACH ACCIDENT S E.L. DISEASE - EA EMPLOYEE S E.L. DISEASE -POLICY LIMIT S DESCRIPTION OF OPERATIONS/ LOCATIONS / VEHICLES (ACORD 101, AddlUonal Remarks SLMduls, may be attached it more space Is required) Re: Coyote Run II, 3401 N. Sunrise Way; Palm Springs, CA. Additional Insured Coverage applies to General Liability for City of Palm Springs per policy form. Waiver of subrogation applies to General Liability per policy form. ExoeWUmbrella policy follows form over underlying policies: General Liability, Auto Liability (additional insured and waiver of subrogation apply when afforded on underlying policies). CERTIFICATE HOLDER CANCELLATION SHOULD H ABOVE DESCRIBED POLICIES CANCELLED RECEIVED THEDELIVERED IN EXPIRATIIONDATTE THEREOF, NOTIICEWILL BE ACCORDANCE WITH THE POLICY PROVISIONS. City of Palm Springs 3200 East Tahquitz Canyon Way Palm Springs CA 92262 S EP 2 5 2023 AUTHORIZED REPRESENTATIVE City Hall Receotion Desk ® 1988-2015 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD Arthur J. Gallagher Risk Management Services, LLC 500 N Brand Boulevard, Suite 100 Glendale CA 91203 MDG2023 00004741 01 IILd��IlJlllllllllhh��d1911„�IIIIIIIII�hIIIIIIII,II,I„ City of Palm Springs 3200 East Tahquitz Canyon Way Palm Springs, CA 92262 ki M 4 We are providing you with a Certificate of Insurance confirming our client's coverage. Want to get certificates of insurance faster? "Go Green with Gallagher" by receiving digital copies of certificates via e-mail in the future. Or, do you no longer require a certificate of insurance for our client? Please contact us at COI.UpdateMyEmail@AJG.com and provide the following information for processing: 1. Confirmation that a certificate of insurance is no longer required; or 2. E-mail address to send future certificates of insurance in lieu of U.S. Mail delivery 3. Insured Code: CAOCVAL-01 4. This Certificate Number: 376966121 To learn more about the Insurance and Risk Management Services offered by Gallagher, please visit us at www.ajg.com/us/about-us/how-we-work/core-360. Gallagher does not share your e-mail as detailed in our privacy policy found at https:// www.ajg.com/us/privacy-policy/. a$ 0 e QxQo b ACORO® CERTIFICATE OF LIABILITY INSURANCE A36/� DATE(MIVDD YYYY) 10/18/2023 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder Is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. N SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(a). PRODUCER Arthur J. Gallagher Risk Management Services, LLC 500 N Brand Boulevard, Suite 100 Glendale CA 91203 CONTACT NAME: PHONE - __--__- FAX Na Eag. 818-539-2300 _ LArc. Ne:818-539-2301 ADDRESS: INSURER(S) AFFORDING COVERAGE NAM.• INSURER A: NOn rOflls' Insurance Alliance of California Inc. Ucensef 0D69293 INSURED CAOCVAL-01 INSURER 0: Coyote Run LP Coachella Valley Housing Coalition INSURER C: 45701 Monroe Street Suite G INSURER D: INSURER E: Indio CA 92201 INSURER F: COVERAGES CERTIFICATE NUMBER: 162414832 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. BIBR TYPE OF INSURANCE POLICYNUMBER PWDDYYVY EXP MODDNY" UNITS A X COMMERCIAL GENERAL UABILITY CLAIMS -MADE O OCCUR 2023-06935 10/18/2023 10/18/2024 EACHOCCURRENCE $1,000,000 PREMISES E xorncel f 500.000 IVIED EXP (Any oneDamon) s20.000 GEN'L X PERSONAL & ADV INJURY $1.000,000 AGGREGATE LIMR APPLIES PER: POLICY1:1 PHO, LOC OTHER: GENERAL AGGREGATE $3,000,000 PRODUCTS - COMP/OP AGO $3,000,000 f AUTOMOBILELIABLY X ANY AUTO OWNED SCHEDULED AUTOS ONLY AUTOS X HIRED X NON -OWNED AUTOS ONLY AUTOS ONLY 108/2023 1012024 COMBINED INGUELIMIT E d $1,000,000A BODILY INJURY (Per person) f BODILY INJURY (Par sodtlen0 S -PROPERTY-DAMAGE Pera M S f A X UMBRELLAUAB EXCESS LIAR X OCCUR CLAIM&MADE 2023-08935-UMB 10/18/2023 10/18/2024 EACH OCCURRENCE $5,000,000 AGGREGATE $5.000,000 DEO 1 1 RETENTION f WORKERS COMPENSATION ,AND EMPLOYERS' LIABILITY YIN ANYPROPRIETOWPARTNERIEXECUTWE OFFICERMIEMBEREXCLUDED? (Mandatory In NH) II yyes. deacrD, under 0 SCRIPTION OF OPERATIONS below N/A TAT ER E.L EACH ACCIDENT $ E.L DISEASE - EA EMPLOYEE f E.L. DISEASE - POLICY LIMIT S DESCRIPTION OF OPERATONS / LOCATONS / VEHICLES (ACORD 101, Additional Remarks Schedule, maybe attached it mom space Is r updred) Re: Coyote Run II, 3401 N. Sunrise Way; Palm Springs, CA. Additional Insured coverage appPlies to General Liability for City of Palm Springs per policy form. Waiver of subrogation applies to General Liability per policy form. Excess/Umbrella policy follOWE form over underlying policies: General Liability, Auto Liability (additional insured and waiver of subrogation apply when afforded on underlying policies). CFRTIFICATF HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE Cityy of Palm Springs 32, 0 East Tahquitz Canyon Way Palm Springs CA 92262 USA rr q9 3 0 2023 City Hall Reception Desk THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ® 1988.2015 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD Arthur J. Gallagher Risk Management Services, LLC 500 N Brand Boulevard, Suite 100 Glendale CA 91203 MDG2023 00006769 01 �Itllrllhll�ItlrhPdltlnr��hlll��dlr��hll��l�ulll�lh City of Palm Springs 3200 East Tahquitz Canyon Way Palm Springs, CA 92262 We are providing you with a Certificate of Insurance confirming our client's coverage. Want to get certificates of insurance faster? "Go Green with Gallagher" by receiving digital copies of certificates via e-mail in the future. Or, do you no longer require a certificate of insurance for our client? Please contact us at COI.UpdateMyEmail@AJG.com and provide the following information for processing: 1. Confirmation that a certificate of insurance is no longer required; or 2. E-mail address to send future certificates of insurance in lieu of U.S. Mail delivery 3. Insured Code: CAOCVAL-01 4. This Certificate Number: 162414832 To learn more about the Insurance and Risk Management Services offered by Gallagher, please visit us at www.ajg.com/us/about-us/how-we-work/core-360. Gallagher does not share your e-mail as detailed in our privacy policy found at https:// www.ajg.com/us/privacy-pol icy/.