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AgdaPkt 2013-01-28
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AgdaPkt 2013-01-28
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Last modified
2/23/2015 4:29:34 PM
Creation date
1/24/2013 6:45:39 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency
Date
1/28/2013
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6.1.E. - Page 4 <br /> AMENDMENT TO RESTRICTIONS <br /> This AMENDMENT TO RESTRICTIONS (the "Amendment") is enter�d into as of <br /> February , 2013 by and between the City of Redwood, a charter city and municipal <br /> corparation (the "City") and Habitat for Hurt�ani#y Greater San Francisco, Inc., a Califarnia <br /> nonprofit public benefit corporation {"Habitat") (coliectively, the "Parties") with reference to the <br /> following facts. <br /> RECITALS <br /> A. The Redevelapment Agency af the City nf Redvvood (the "Agency") and <br /> Peninsula Habitat far Humanity, Inc., a California nonprofit corporation ("Peninsula Habitat"} <br /> entered into that certain Purchase Agreement Between the Redevelopment Agency of the City of <br /> Redwood City and Peninsula Habitat far Humanity, dated May 1Z, 2000 (the "Purchase <br /> Agreement"} in connection with the sale by the Agency to Peninsula Habitat of real property <br /> lacated at 3426, 3436, 344b, 3�56, 34b6, 3476-3480, 3486 to 3486 Ralison Road and 1181 <br /> Haven Avenue in the City of Redwood {the "Property"). <br /> B. The Purchase Agreement included �xhibit A titled, "Agreement with Peninsula <br /> Habitat for Humanity to Construct Replacement Hausing and Related Capital Improvements," <br /> (the "Construction �xhibit"} and Exhibit 1 titled, "Agreement with Peninsula Habitat for <br /> Humanity in Connection with Land Acquisition Through CDBG and HOME Fu�ds," (the <br /> "Funding Exhibit") pUrsuant to which Peninsula Habitat was required to construct and operate an <br /> affordable F�ousing project (the "Project") on the Property in accordance with the affordability <br /> restrictions set forth therein. <br /> C. Pursuant ta the Grant Deed, recorded May 31, 2000, the Agency transferred the <br /> Property to Habitat. The Grant Deed inciuded an "Addendum to Grant Deed Restrictions for <br /> Affordable Ownership Housing" (the "Grant Deed Addendum"} pursuant to which Peninsula <br /> Habitat was required to operate the Project in accardance with the affordability restrictions set <br /> forth therein. <br /> D. Habitat was merged into Peninsula Habitat pursuant to that cer�ain Agreerr�ent of <br /> Merger of Habitat for Humanity San Francisco With and Into Peninsula Habitat for Hurnanity, <br /> dated May 22, 2008 (the "Merger Agreement"). The Merger Agreement r�vas endarsed filed with <br /> the office of the Secretaty of the �tate of California on August 1, 2008. �'ursuant to the Merger <br /> Agreement, Habitat has all the obligations and rights of Peninsula Habitat, including any rights <br /> and obligations of Peninsula Habitat under the Purchase Agreement, Constructian Exhibit, <br /> Funding Exhibit, Grant Deed, and Grant Deed Addendum. <br /> E. Pursuant to the terms of AB 1� 25, the Agency was dissolved effective February 1, <br /> 2012 and the City elected to retain the housing assets and functions previously performed by the <br /> former Agency and assumed all of the housing obligations and rignts af the former Agency, <br /> including any rights and obligations of the former Agency under the Purchase Agreement, <br /> Construction Exhibit, Funding Exhibit, Grant Deed, and Gran�Deed Addendum. <br /> ATTYIAGW20131Ai�11ENDMENTSlAMENDMENT TO RES7RICTIaNS HABITAT FOR HUMANITY <br /> REV:Q1-�4-73 VR <br /> Page 1 of 4 <br />
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