HomeMy WebLinkAbout2021-20 CC ResolutionRESOLUTION NO.2021-20
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA, ACTING IN ITS CAPACITY AS THE
HOUSING SUCCESSOR TO THE FORMER TEMECULA
REDEVELOPMENT AGENCY (AND, WITH RESPECT TO
A LOAN OF CITY FEES, ALSO IN ITS CAPACITY AS THE
CITY) APPROVING THE FIRST AMENDMENT TO THE
LOAN AGREEMENT WITH LAS HACIENDAS HOUSING
ASSOCIATES, L.P. FOR THE "LAS HACIENDAS- 77 UNIT
LOW INCOME AFFORDABLE MULTI -FAMILY
(APARTMENT) PROJECT AT 28715 LAS HACIENDAS
STREET AND 28772 CALLE CORTEZ
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOLLOWS:
Section 1. Recitals. The City Council of the City of Temecula (the "City") hereby
finds, determines and declares that:
(a) The City of Temecula entered into a Disposition and Development Agreement
(DDA) dated May 26, 2020.
(b) The City of Temecula desires to extend the term of the agreement, and amend the
time that the developer must close on the loan to 180 days.
Section 2. Approval of the First Amendment. The City Council hereby approves
the "FIRST AMENDMENT TO THE LOAN AGREEMENT WITH LAS HACIENDAS
HOUSING ASSOCIATES, L.P. FOR THE "LAS HACIENDAS" 77 UNIT LOW INCOME
AFFORDABLE MULTI FAMILY (APARTMENT) PROJECT" and authorizes the Mayor to
execute said First Amendment on behalf of the City in substantially the form presented to the City
Council.
Section 3. Certification. The City Clerk shall certify to the adoption of this
Resolution.
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C PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula
this 27' day of April, 2021.
Maryann Edwards, Mayor
ATTES
Ran ity Clerk
[SEAL]
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G STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) as
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the foregoing
Resolution No. 2021-20 was duly and regularly adopted by the City Council of the City of
Temecula at a meeting thereof held on the 27`h day of April, 2021, by the following vote:
AYES: 5 COUNCIL MEMBERS: Alexander, Edwards, Rahn, Schwank,
Stewart
NOES: 0 COUNCIL MEMBERS: None
ABSTAIN: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
-27-
Randi Johl, City Clerk
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