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2013-15 RESOLUTION NO. 2013 - 15 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE TO EXTEND THE CONSTRUCTION COMPLETION DATE OF TWO AFFORDABLE HOMES BY HABITAT FOR HUMANITY SAN BERNARDINO AREA, INC. WHEREAS, on May 24, 2011, the former Community Redevelopment Agency adopted Resolution No. CRA 2011-07 approving a Purchase and Sale Agreement and Grant Deed and Affordability Covenant approving the sale of a vacant 0.50-acre lot, more particularly described as 12569 Michigan Street, Grand Terrace, California Assessor's Parcel Number 1167-271-11 to Habitat for Humanity San Bernardino Area, Inc.; WHEREAS, the Purchase and Sale Agreement was fully executed on June 21, 2011 and the Grant Deed and Affordability Covenant transferring the property to Habitat for Humanity San Bernardino Area, Inc. was recorded (Recordation #2011-0271505) on July 5, 2011; WHEREAS, the Purchase and Sale Agreement and Grant Deed and Affordability Covenant state that Habitat for Humanity San Bernardino Area, Inc. shall construct two (2) residences and sell one (1) residence to a qualified very low income buyer and one (1) residence to a qualified low or very low income buyer; WHEREAS, the Purchase and Sale and Grant Deed and Affordability Covenant covenants the ownership of the two residences to qualified very low and low income buyers for a period of forty-five (45) years from the date of the initial conveyance of the residence(s), pursuant to the requirements of the California Health and Safety Code Section 33413 (b) (2) (c); WHEREAS, the Purchase and Sale Agreement and Grant Deed and Affordability Covenant states that Habitat for Humanity San Bernardino Area, Inc. must construct the two residences by June 30, 2014 ("Construction Date"); WHEREAS, the Purchase and Sale Agreement and Grant Deed and Affordability Covenant include an automatic reversion of the property to the Grantor should Habitat fail to construct the two residences by June 30, 2014; WHEREAS, on October 17, 2013, Habitat for Humanity San Bernardino Area, Inc. formally requested the extension of the construction due date to June 30, 2017, Page 1 of 3 j citing challenges relating to the dissolution of redevelopment agencies; thereby, eliminating a viable funding source, and the recent economic downturn as challenges to meeting the construction due date; WHEREAS, the former-Community Redevelopment Agency of Grand Terrace ("former-RDA") was dissolved in June of 2011 pursuant to Assembly Bill No. 26, of the First Extraordinary Session, and Assembly Bill No. 1484 and now the Successor Agency for the Grand Terrace Community Redevelopment Agency ("Successor Agency") is the statutory successor to the former-RDA; WHEREAS, on November 12, 2013, the Successor Agency adopted a Resolution to extend the construction completion date by thirty-six (36) months; and WHEREAS, on December 4, 2013, the Oversight Board to the City of Grand Terrace Redevelopment Agency conducted a public hearing on this matter. NOW, THEREFORE, BE IT RESOLVED that the Oversight Board to the City of Grand Terrace Community Redevelopment Agency does hereby resolve, determine and find as follows: Section 1. That the foregoing recitals are true and correct. Section 2. The Oversight Board hereby approves the extension of the Construction Date by an additional thirty-six (36) months to June 30, 2017. Section 3. The Executive Director is hereby directed and authorized to take execute all documents and perform all actions necessary and required for the purpose of carrying out this Resolution. Section 4. The Oversight Board further directs and authorizes the Executive Director to take any other necessary and required actions to carry out this Resolution, including but not limited to meeting the requirements of the relevant sections of the Health & Safety Code, or any other applicable law, by submitting this Resolution to the Department of Finance and any other relevant agencies pursuant to the Health & Safety Code. Section 5. This Resolution shall not be effective until 5 business days after its adoption or pursuant to the Health & Safety Code. Section 6. The Oversight Board Secretary shall certify to the adoption of this Resolution. i Page 2 of 3 PASSED, APPROVED AND ADOPTED by the Oversight Board for the Successor Agency for the Grand Terrace Redevelopment Agency at a regular meeting held on the 4t day of December, 2013. Walt Stanckiewitz Chair of the Oversight Board for the Community Redevelopment Agency of the City of Grand Terrace ATTEST: Zt Secretary 1� U I, TRACEY R. MARTINEZ, CITY CLERK of the City of Grand Terrace, acting as the Secretary to the Oversight Board for the Successor Agency to the Grand Terrace r_ Redevelopment Agency do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the Oversight Board held on the 5t" day of June, 2013 by the following vote: AYES: Board Members Morga, Ferracone and Shields; Chairman Stanckiewitz NOES: None ABSENT: Board Member Miranda and Vice-Chairman Saks ABSTAIN: Board Member Forbes Tracey R. h_&rtin4z, City Clerk Page 3 of 3