HomeMy WebLinkAbout2022-91 CC ResolutionRESOLUTION NO.2022-91
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF TEMECULA, ACTING IN ITS CAPACITY AS THE
HOUSING SUCCESSOR AND IN ITS CAPACITY AS THE
CITY APPROVING A THIRD AMENDMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT WITH
TEMECULA PACIFIC ASSOCIATES, FOR THE "VINE
CREEK" 60 UNIT APARTMENT PROJECT
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 June 25, 2019, providing for the conveyance of two parcels of real property to
Temecula Pacific Associates, generally located approximately 130 feet north of the Main Street
and Pujol Street intersection, on the east side of Pujol Street, for development as specified in the
DDA.
B. The City Council entered into a First Amendment to the Disposition and
Development Agreement dated November 10, 2020, providing the developer the ability to extend
the term of the DDA and to apply for additional tax credits in all tax credit rounds through 2024.
C. The City Council entered into the "SECOND AMENDMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT WITH TEMECULA PACIFIC
ASSOCIATES, FOR THE "VINE CREEK" 60 UNIT APARTMENT PROJECT" dated February
22, 2022.
Section 2. The City Council hereby approves the "THIRD AMENDMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT WITH TEMECULA PACIFIC
ASSOCIATES, FOR THE "VINE CREEK" 60 UNIT APARTMENT PROJECT" and authorizes
the Mayor to execute said Third 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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PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula
this 290' day of November, 2022.
ATTEST:
Ran'ty Clerk
[SEAL]
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Matt Rahn, Mayor
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the foregoing
Resolution No. 2022-91 was duly and regularly adopted by the City Council of the City of
Temecula at a meeting thereof held on the 29t' day of November, 2022, 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
Randi Johl, City Clerk
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