HomeMy WebLinkAboutDELMA CORPORATION - 1977-07-18{
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AGREEMENT
THIS AGREEMENT is made by and between the CITY OF
HUNTINGTON BEACH, a municipal corporation, hereinafter referred
to as "CITY," and DELMA CORPOR;TION, a California oorporation,
hereinafter referred to as "DELMA," on this / -" day of
1977.
WHEREAS, DELMA is the owner of certain real property
specifically described here;,after, in ', city of Huntington
Beach, and desires to sell said property as a site for low cost
housing under Section $-of the Hous-:ng and Community Development
Act; and
CITY is desirous of accommodating DELMA in processing
an application for this type of use,
NOW, THEREFORE, IT IS HEREBY AGREED by the parties
hereto as follows
1. DELMA agrees to sell property in the city of
Huntington Beach, specifically described as:
Lot 5 of Block G of Tract No, 7 in the city of
Huntington Beach, county of Orange, state. of
California as shown on a map recorded in Book q,
page 8 of Miscellaneous Maps in the Office of
the County Recorder of said county
to the developer selected by HUD for development of the project
in accordance with Section 8 of the Housing and Community Devel-
opment Act.
JOC:cs 2. DELMA hereby agrees to sell the property to the
1,
developer selected by HUD for $360,000.
3. Within ten (10) days after selection by HUD, of a
developer for the project, DELMA shall open an escrow to convey
title t--;'�he property to said developer. Developer shall have
one (1) year to close escrow in accordance :with customary
escrow practices and any applicable HUD regulations.
4 CITY enters this agreement to facilitate the
availability of the site for Section 8 housing and to recognize
the commitment of the owner to sell the property to the developer
selected by HUD,' at the HUD appraised price stipulated in paragraph
2 above.
5. Tf,.for any reason, HUD finds it impossible to select
a developer or fund the construction of this project subseS�uent to
the publication of a Notice of Fund Availability, this agreement is
null and void and all parties are released from the conditions
I_
hereinabove stated„
EXECUTED the day, month and year first above writ•Cen.
ATTEST: F HLTNTIN CH (CITY)
City Clork Mayor
:REVIEW D AND APPROVED: APPROVE AS TO FORM:
o '
Ci Administrator City Matto Hey
INITIATED AND APPROVED
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AS�TO G rt U
DELMA CORP DELMA)
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it of Huntington Beach
' ® P°.0, D'OX 190 CALIFORNIA 92648
OFFICE OF THE CITY CLERK
July 19, 1977
Delma Corporation
18811 Florida Street
Huntington Beach, CA 92648
Attention: Robert J. Zinngrabe, President
Gentlemen:
The City Council of the City of Huntington Beach at its regular
meeting held Monday, July 18, 1977, approved an agreement with
your firm stipulating the terms and price of the sale of property -
located at Main and Florida to the HUD selected developer, for
the construction of 185 subsidized apartments for the elderly
under the Section 8 New Construction Program4
Ile are enclosing a duly executed copy of said agreement for
your records.,
Sincerely yo r
Alicia M. Wentworth
City Clerk
AM.-
Enclosure
111
TO:
FROM:
DATE:
Attn:
SUBJECT:
Z~
CITY OF HunTHIGTOII
DEPARTMENT OF PLANNING AND ENVIRONMENTAL RESOURCES
P, O. BOX 190, HUNTiNGTON BEACH, CALIFORNIA 92648 (714) 536•5271
Honorable Mayor and City Council ry�
Edward D. Selich, Planning Director
July 12, 1977
Floyd G. Belsito, City Administrator /10
LAND SALES AGREEMENT FOR 185 UNITS OF SECTION 8 NEW CONSTRUCTION
FOR THE ELDERLY
For tfe last eleven.TP,%aths, City staff has been negotiating with the
federal Department of Housing and Urban Development far the allocation
of subsidy funds for 185 units of Section 8 New Construction for the
Elderly to a site at Main and Florida. On Friday, July 8, 1977, HUD
issued a Notice of Fund Availability (NOFA) for these units. This Notice
constitutes the federal government's commitment to subsidize these units
and invites developers to submit proposals for their construction. The
deadline for submission of these proposals to HUD :.s-August 12, 1977 and
subsequent to this date AUD will select the developer to build these
units.
The owner of this site, the Delma Corporation, has agreed, as required by
federal regulations, to sell the parcel to the developer selected by HUD.
To facilitate the allocation of subsidy funds to the site, to demonstrate
the City's interest in this project, and to document the owner's willing- 16
ness to sell, however, an agreement was prepared by the City Attorney.
This ay-eement (see attachment) stipulated the terms and price of this
sale an-- although the City is not a party to the sale of this property,
FT,jp,r has asked that the City endorse this agreement
As stated above, such an endorsement simply states the City's desire for
the construction of subsidized elderly housing and serves to document the
sUler.'s willingness to make the site available to the HUD selected developer,
but does not commit the City to any financial involvement in the transaction.
RECOMMENDATION
To, execute the attached agreement stipulating the terms and price of the
sale of the subject site at Main and Florida. to the HUD selected developer
for the construction of 185 subsidized apartments for the elderly under the
Section ,& New Construction Program,
Respectfully submitted,
Edward D. Selich
Q E ii k a,
Director 12 1977
Attachment CITY OF HUNTINGTOCN
ADMINISTRATIVE OF#1�