Res20 15908 - Laserfiche WebLink

Browse Search

Allocation Committee -sponsored project, as an approved alternative pursuant to Section 29.8(D)(Other Alternatives) to the standards in Section 29.6 (A) (Quality of Construction and Number of Bedrooms) of the City's Affordable Housing Ordinance. Notwithstanding the above, the rents for the affordable units on Parcel F shall be the lower of the rents determined in accordance with Government Code Section 65915(c)(3)(B) and the rents allowed by the Tax Credit Allocation Committee. In accordance with the Relocation Plan, the Developer shall provide relocation benefits to the occupants of 1306 Main Street. 31, Shasta Property—Title, Right -of -Way Vacation, Maintenance and Access. Prior to approval of the Final Map, the applicant shall secure fee title interest in the remnant portion of public right of way at the corner of Chestnut and Main streets as identified on the Vesting Tentative Map (the "Shasta Triangle"), as documented by Deed or judgment in Quiet Title, and the public right of way along Shasta between Chestnut and Main Streets (the "Shasta Right of Way") shall have been vacated, all as provided in more detail below. The Shasta Triangle and the Shasta Right of Way are collectively referred to herein as the "Shasta Property." Title to Shasta Triangle. The applicant shall provide any and all assurances the City requires, including a waiver and indemnity, in order to obtain fee title interest in the Shasta Triangle. The Final Map shall include the Shasta Triangle and Shasta Right -of -Way vacation within the boundaries of the mapped area. The applicant's fee title interest in the Shasta Triangle shall be demonstrated by a Deed conveying the fee title interest to applicant. If such Deed cannot be obtained, the applicant may request that the City file a Quiet Title Action to clear the title and convey the property to the applicant. In the event that the applicant determines that a Quiet Title is necessary, the applicant shall pay all of the City's costs and expenses, including attorney fees incurred by attorneys hired by the City in its sole and absolute discretion and reimbursement of in-house costs to prosecute such action. In the event that a Quiet Title Action is filed, the City and the applicant have agreed that the purchase price for the Shasta Triangle shall be $340,000. The applicant shall maintain ownership of the Shasta Triangle or transfer title to the Parcel E -South fee owner, or other owner, to be approved in the City's reasonable discretion. Shasta Right of Way Vacation. The Shasta Right of Way vacation shall be included as part of the Final Map. Alternatively, if the Shasta Right of Way vacation cannot proceed with the Final Map, as determined by the Community Development and Transportation Director, then the following procedure shall apply. The applicant must submit an application to the City, with all supporting materials to the satisfaction of the City Engineer and City Attorney and all required fees, requesting that the City vacate the Shasta Right of Way. Upon submittal of such application, the City Council shall consider, in its sole and absolute discretion, the vacation of the Shasta Right of Way. The City Council's project approval, including the Vesting Tentative Map, is separate and distinct from the City Council's consideration of the vacation and the City Council is not in any way bound to act in a manner consistent with any prior project approval. If the City Council adopts a resolution of vacation and the City Council's action is not challenged, the Shasta Right of Way will be deemed vacated. Access and Maintenance. The applicant shall record a public access and maintenance agreement over the Shasta Property to provide for applicant (or successor -in -interest) maintenance and public access in perpetuity following completion of improvements required by the approved project plans. ATTY/RESO.0125/PC RESO SOUTH MAIN MIXED USE PROJECT—ENTITLEMENT RESO. NO. 15908 REV: 11-03-2020 PR MUFF NO. 601 Page 22 of 38