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WARNER PARTNERSHIP I - 1985-05-21
AGREEMENT BVM EEN THE CITY OF HUNTINGTON BEACH AND WARNER -PARTNERSHIP I FOR ADVANCE OF AND INDEMNIFICATION AGAINST COSTS ASSOCIATED WITH REVIE4 OF FINANCING (WARNER SIMS APARTMENTS) THIS AGREEMENT is made and entered into on this S day of 19gS', by and between the CITY OF HUNTINGTON BEACH, a municipal corporation of the State of California, hereinafter referred to as "City" and WARNER PARTNERSHIP I, a California General Partnership, hereinafter referred to as "Developer" enter into this Agreement on the terms and provisions set forth be1JW. THE CITY AND THE DEVELOPER HEREBY AGREE AS FOLLQ4S: I. (Section 100)Pro-ject Planninq. A. (Section 101) Developer Planninq. The Developer is considering proceeding with the development of certain real property situated within the city of Huntington Beach. Such real property (the "Property") is shown generally on the map attached hereto as Attachment No. 1. The Developer desires that the city consider the use of public financing; provided that the Developer acknowledges that (i) the City of Huntington Beach (the "City") shall not incur any cunt or liability as a result of such financinq; (ii) if bonds or certificates are issued pursuan? to this Agreement, the city may charge a reasonable issuer's f•.e; and (iii) the approval and execution of this Agreement shall in no event bind the city to issue bonds or certificates of participation concerning or with respect to the Property or the Deve..oiler. B. (Section 103) Deposit. Developer herewith submits to the city as a deposit the sum of Two Thousand Dollars (52,000.00) (the "Deposit'), in the form of a certified or cashier's check. The city shall have no obl.igatlon to earn interest on the Deposit. The parties recognize that the city may, in connection with this Agreement, incur expenses eor the following items, among others: 1. Preliminary research by Bond Counsel; 2. Expenses (travel and other) incurred by city staff reviewing the availability of or attempting to facilitate th provisions of tax exempt financing for the undertakings of the Developer; and 3. Staff time in connection with items 1 and 2 of this Section 1.03. All expenses of the City incurred in good faith in connection with this Section 103 are hereby referred to as "Issuance Costs." The city may, without approval by the Developer, expend from the Deposit funds up to the limit of the Depos:.t for any one or all of items 1 to 3, Inclusive, of this Section 103. The Developer shall not be obligated by this Agreement to advance additional funds to the city. The city shall not be obligated to expend any funds in excess of the Deposit for IL -.-.he purposes described in this Agreement. In the event that expenditures pursuant to this Section 103 are to exceed the amount of the Deposit, the Developer shall defend, indemnify, and hold harmless the city from and aqainst all such claims, suits, or demands provided that the city has first notified the Developer that costs incurred will exceed the amount of the Deposit, and the Developer elects that the city continue to pursue financing. D. (Section 104) Disposition of the Deposit. In the event that as of October 1, 1985 no public financing has been approved for the undertakings of the Developer with respect to the Property, unless this Agreement is extended by mutual agreement of the parties, (i) the city shall refund to the Developer any portion of the Deposit not expended and not committed for expenditures all as pursuant to Section 103 of this Agreement; or (ii) if expenses exceed the amount of the Deposit, the Developer shall promptly pay to the city funds equal to all expenses and costs (including staff time) incurred by the city pursuant to Section 103 of the Agreement; thereupon, this Agreement shall terminate. -2- II. Miscellaneous A. (Section 201) Limitation of Ci t-v Duties. The Developer agrees and acknowledges that the execution of this Agreement by the city does not obligate the city to approve any proposed use of the Property or provide public financing, and that no endorsement of the activities of the Developer are expressed or implied herein. DEVELOPER: WARNER PARTNERSHIP I CITY OF HU14TINGTON BEACH A Ggln4ral Wrtnership A municipal Corporation ATTEST: Mayor Name Title oe City Clerk INMATED AND APPROVED: epVtt Director o APPROVED: 033511 edevelopment -3- APPROVED AS TO FORM: f-W ::wwNn+ Ah ZONING ..DM 23 SECTIONAL DISTRICT MAP 20-5--11 {6W7(C OLCrrRl r• IMO r Wow w• rrt r tr L+� TYO G)T row"CIL. 0teftAl lct go 004 o r rCt D ~ w L[4[►t9 [2l L•'s {. blt '" � M4C {1�r -dip i� %Y._c Iw�1 r.�f wwr RY M.w[! BEACH... u 1r .ot s.&,w . 1 .14• a rw .» 1• • -N {r•t{ I:ri �f ..� w.,�....K. © Son."" .aw[w rr.ct HUNTINGTON 006 M=04, fr•0, tlono." wa wf{.0 lag 4 06p1t304 3.1 • {. rrQ o. l { • { • sf w n 11w 51 V�a�'ii •.{.M ap 10.1 ►.N.�r {fb11{t ►..its w++.ar ..... rr.+.d r.wn trt. rn l7{Na.--c T .. r� .. a� 1064 . �..»„1 � as"." ...W, O R A ITT G E C O� U IN Y, C A L I F O R N I A {•. •.• 4': /ON ILM•{{ NUM{• ;� �.�; , �� .af.. Irw rl P. k twit 1.f-.CfW 1.LY .c,!•N•,t a1a 101{ r•11•N M{!1.)1 q"�' m'rrsw 1•.^.a" iWar,11 2-0 f-{-��101 t. 094M01 ►-tow eMtoo"141f LLL u.r.wr• warn /wttafw.�l {watt'• 1••.•{t W-{ ��yy.. Il.r•M •►! ION ?•JtY 7) T.{n/rr•7 f •1•M A. 11�{ rr./.wl Mraaf 11•T.{. M 110{ T•1•Tt f•iZ7 K71 w14r/ hM a.w.,..l V ••{{ .N I.1 1•r{. tf..Vtt fOf .._. wr..rb ....1 ,•�In 63 •� Of t\ two 9--w- I t.+{ r 1 ■twr.rrlww�r■.�rrr�l�sl�twrw�n���awllllr�w�w.rwsur wtrr•tlr�.o..w AVE L /�f�•fl .r• H / �11 %•"�1. � �..._--• • .• _. l .��--�^��Fr __. ._._ ^ MJ % 1•"-""i.r♦1 1 1 r.... 1 1 �1 I 1 ! 1 1 _ 1 1 r 1 1� R 2 C4 R,'. t R2 ; ; R2 C4 , {t/Jt 1i t l .,3r ; 1. ` r] iC�-R '-p 2 (�}" R 2 I R 2t''ta�mas �_ irl U 1. ;1 R3 �v I R3 ` • R3 R3 CZ I f e CITY OF HUN'iItl,IGTON BEACH 2000'MAIN STREET CALIFORNIA 92648 .OFFICE OF THE CITY CLERK May 23, 1985 Warner Partnership Mola Development Corp. 8072 Adams Avenue Huntington Beach, CA 92646 The City Council of the City of Huntington Beach at its adjourned regular meeting held May 21, 1985 adopted Resolution No. 5522 authorizing the issuance of revenue bonds to finance a 102-unit multifamily residential rental housing development by Warner Partnership I. The Council also approved an agreement between the City and 'darner Partnership I for advance of and indemnification costs associated with review of financing. Enclosed is a certified copy of Resolution No. 5522 and a duly executed copy of said indemnification agreement. ALICIA M. WENTWORTH, CITY CLERK By Deputy CC: Steve Kohler, Sr. Community Development Specialist Doug LaBelle - Deputy City Administrator/Redevelopment Wayne Lee, Finance Department I lept w v: 714-6--52I7) Submitted to: Submitted bv: Prel3ared by REQUEW FOR ditYcou ACTIO ' `ltli 85 23 May.13, 1985 Date •� 't'tco`'_ ...- Honorable Mayor and City Council Members A �r Charles H. 'ihompson, City AdministratoO Douglas N. La Belle, Deputy City Administrator/Bede RECONSIDERATION OF INDUCEMENT RESOLUTION WARN J/SIMS� �R Subject: APARTMENTS AND INDEMNITY AGREEMENT - MOLA DEVELOPMENT' CGRPORATION . C6nsiste'nt with Council Policy? as Yes I I Ne Y r w o icy or xcepton Statement of Issue, Recommendation, Analysis, Fundinq Source, Alternative Actions, Attachments. 0_7,. STATEM ENT OF 1SS U F.- Pursuant to a request received for submittal of nn inducement Resolution for the subject project, attached is the resolution and an agreement through which the Moln Development Corporation agrees to indemnify the City for out-of-pocket expenses incurred, should the financing not be completed. RECOMMENDATION: Approve and authorize the City Clerk to execute the attached resolution and Indemnity Agreement. ANALYSIS: On Maren 19, 1985, the Planning Commission approved Use Permit No. 8a-1 3 for the construction of a 102-unit npartment project on the north side of Warner Avenue, between Lynn and Sims Street. 'the project site is approximately 3.73 gross acres in size and the approval of the 102-unit project included it density hol'us. The Planning Commission in its approval, also required thtit 30 of the units be made available to low -and -moderate -income households. Simiiitaneously with the Planning Commission review process, the developer requested that the project be considered for inclusion in the City's ongoing program to provide tax exempt financing for new development. An Inducement Resolution and indemnity Agreement was submitted to the City Council at its meeting of April 1, 1985, at which time such documents were not approved. At the request of the City Council, both documents are now being; forwarded for reconsideration. The indemnity Agreement between the City and Moln Development Corporation (dba Warner Partnership 1) provides that the developer will post a $2,000 deposit with the City to cover out-of-pocket expenses incurred by the City In the preparation and sale of the tax exempt securities, should the financing not he completed. 7be City normally recovers these expetses at bond closing; however, should this effot,t be unsuccessful for any reason, the City would have no mechanism through which to request reimbursement of its expenses. If the financing is successful, costs will be reimbursed from bond proceeds and the $2,000 deposit received from :he developer will be credited toward the City's normal issuance fee of one-half of one percent. PIO V64 !) RH 85--23 May 13, 1985 Page Two A summary of tax exempt finnncing for multi-ftimily housing is attached. FUNDING SOURCE: Costs paid from bond proceeds or developer indemnity Agreement. (Proposed financing to be $9 million. One=half of one percent issuance fee equals $45,000). ALTERNATIVES: Do not approve the attached Inducement Resolution. Iris will pre-empt the provision of tax exempt financing for this project, at this time. ATTACHAI ENTS: I. Summary of Tax Exempt Finnneing for Mtilti- Famil., dousing 2. Indemnity. Agreement 3. Inducement Resolution C%YT/SVK:lp SUMMARY OF TAX EXEMPT FINANCING FOR MULTI-FAI4ILY HOUSI14G a) Indemnity Agreement: At the time an fo n,arded to the City Council/Agency an Indemnity Agreement through which with the city to cover out-of-pocket of the bond issue. Normally, these bond issue; however, should an issue to recover its costs. Inducement Resolution for a project Is for consideration, it is accompanied by the project sponsor agrees to post $2,000 expenses incurred through the preparation costs are recivered at the closing of the not close, the city will use the deposit b) Issuance Fee: The City/Agency continues to assess its Issuance Fee of one -halt of one percent of the total aggregate dollar amount of the issue. These funds are deposited to a spec',fically identified revenue account and financings to date have generated approximately S265,000 in revenue to the city. c) Credit Enhancement: The City/Agency is protected from financial liability and bond purchasers from financial loss because a bank or savings and loan posts a letter of credit or other guarantee which acts as the ultimate security for the transaction. Should there be an interruption in the revenue or default bit the sponsor, bond holders receive principle and interest payments due through this "credit enhancement" device. Project sponsors may also be required to pledge additional guarantees beyond the value of the project to be financed. d) Indemnification/Hold Harmless: Staff also assures through the preparation if the financing documents that the City/Agency is. indemnified and held harmless for any acts of the project's sponsor. The city also rk,intains the right to recover any legal expenses it may incur if the project sponsor defaults. Submitted to: Submitted by: Prepared by: RfEQUE¢4111�R CITY &OUNCISACTION Pli 85-11 Date March 20, 1985 Honorable Mayor and City Council Charles W. Thompson, Douglas N. La Belle, City Administrato Deputy Director, of Redevelol Subject: INDUCEMENT RESOLUTION 'WARNER/SIMS APARTMENTS AND IND iNITY AGREEMENT - Consistent with Council Polio y. j;jtj Yes ( J New Policy or Exception .' Statement of Iss•ae, Reconniendation, Analysis, Funding Source, Alternative Actions, Attachments: STATEMENT OF ISSOE: M Mola Development, Inc. has requested consideratioit of the attached Inducement Resolutions so that its project may benefit from the City's Tax Exempt Financing r Program. Also attached is an agreement through which the firm agrees to indemnify G the City for out-of-pocket expenses incurre6 should the financing not be completed RECO11�MENDATION- F Approve and authorize the City Clerk to execute the attached resolution: A Resolution of the City Council of the City of Huntington Beach Authorizing the Issuance of Revenue Bonds for the Purpose of Providing Financing for 102-unit Multifamily Residential Rental Housing Development by Mola Development Corporation and the attached Indemnity Agreement: Agreement for Advance of and Indemnification Against Costs Associated with Review of Financing. AtdALY5I5 On March 19, 1985, the Planning Commission approved Use Permit No. 85-13 for the construction of a 102-unit apartment project on the north side of Warner between Lynn and Sims Street. The project site is approximateiy 3.73 gross acres in size and the approval of the 102-unit project included a density bonus. The Planning Commission, in its appr-)val, also required that 30 of the units De 'TZde available to low and moderate income households. Simultaneous with this Planning Commission review ororess, the developer has requested that the project be considered for inclusion in the City's ongoing �. program to provide tax exempt financing for new development. The attached Inducement Resolution constitutes the first step i►. this process. It does not represent any co7mitmrrent o, the part of the City to provide tax exempt financing for the project, but simply marks the point in tire after which costs incurred by the developer are financable should the effort be completed. Also attached is an Indemnity Agreement between the City and Mola Development, Inc., through which the developer will post a 52,000 deposit with the City to cover out-of-pocket expenses incurred by the City in the preparation and sale of the tax exempt securities 0ould the financing not be completed. The City normally recovers these expenses at bond closing. However, should this effort Le unsuccessful for any reason, the City would have no mechanism through which to request reimbursement of its expensC-7. Therefore, it's recommended that PIG 4/94 the attached agreement be approved. If the financing is successful, costs will be'reimbursea from'5o6d proceeds and the $2,000 deposit received from the developer will be credited toward the City's normal issuance fee of one-half of one percent. FUNDING SOURCE: Costs paid from bond proceeds or developer indemnity agreement. (Proposed financin to be $12 million. One-half of one percent issuance fee equals: $60,000.}q ALTERNATIVES: Do not ,approve the attached Inducement Resolution. This will pre-empt the provision of tax exempt financing for this project at this time. CWT:DNL:SVK:sar Attachments oe ib6 AGREEMENT 'i3ETWEEM THE CITY OF HUNTINGTON BEACH AND MOLA DEVELOPMENT CORPORATION'FOR ADVANCE OF AND INDEMNIFICATION AGAINST COSTS ASSOCIATED WITH REVIEW OF FINANCING THIS AGREEMENT is made and entered into on this day of 19 , by and between the CITY OF HONTINGTON BUMCH, a municipal corporation of the State of California, hereinafter referred to as "CITY" and MOLA DEVELOPMENT CORPORATION, a California corporation, hereinafter referred to as "DEVELOPER" enter into this Agreement on the terms and provisions set Forth below. THE CITY AND THE DEVELOPER HEREBY AGREE AS FOLLOWS: I. (Sectiot+ 100) Project Planning. A. (Section 101) Developer Planninv,. The Developer is considering proceeding with the development of certain real property situated within the City of Huntington Beach. Such r•2al property (the "Property") is shown generally on the map attached hereto as Attachment No. 1. The Developer desires that the City consider the use of public financing; provided that the Developer acknowledges that (i) the City of Huntington Beach (the "City") shall not incur any cost or liability as a result of such financing; (i:) if bonds or certificates are issued pursuant to this Agreement, the City may charge a reasonable issuer's fee; and (iii) the approval and execution of this Agreement shall in no event bind the City to issue bonds or certificates of participation concerning or with respect to the Property or the Developer. B. (Section 103) Deposit. Developer herewith submits to the City as a depcsit the sum of Two thousand dollars (1;2,000.00) (the "Deposit"), in the forta of a certified or cashier's chock. The City shall have no ob'igati.on to earn interest on the Deposit. The parties recognize that the City may, inconnection with this Agreement, incur expenses for the following items, among others: 1. Preliminary research by bond counsel; 2. Expenses (travel and other) incurred by City staff reviewing the availabilit;of or attempting to facilitate the provisions of tax exempt financing for the undertakings of the Developer; and 3. Staff time in connection with items 1 and 2 of this Section 103. All expenses of the City incurred in qood faith in connection with this Section 103 are hereby referred to as "Issuance Costs." The City may, without approval by the Developer, expend from the Deposit funds up to the limit of the Deposit for any one or all of items 1 to 3, inclusive, of this Section 103. The Developer shall not he obligated by this Agreement to advance additional funds to the City. The City shall not be obligated to expend any funds in excess of the Deposit for the purposes described in this Agreement. in the event that expenditures pursuant to this Section 103 are to exceed the amount of the Deposit, the Developer shall defend, indemnify, and hold harmless the City from and against all such claims, suits, or demands provided that the City has first notified the Developer that costs incurred will exceed tt,e a,not;nt of the Deposit, and the 00 Developer elects that the City continue to pursue financing. D. (Section 104) Disposition of the Deposit. In the event that as of August 1, 1985 no public financing has been approved for the undertakings of the Developer with respect to the Property, unless this Agreement is extended by mutual agreement of the parties, (i) the City shall refund to the Developer any portion of the Deposit not expended and not committed for expenditures all as pursuant to Section 103 of this Agreement; or (ii) if expenses exceed the amount of the Deposit, the Developer shall promptly pay to the City funds equal to all expenses and costs (including staff time) incurred by the City pursuant to Section 103 of the Agreement; thereupon, this Agreement shall terminate. II. Miscellaneous A. (Section 201) Limitation of Citv Duties. The Developer agrees and acknowledges that the execution of this Agreement by the City does not obligate the City to approve any proposed use of the Property or provide public financing, and that no endorsement of the activities of the Developer are expressed or implied herein. DEVELOPER: MOLA DEVELOPMENT CORPORATION Name/Title Name/Title CITY OF HUNTINGTON BEACH, A municipal corporation Mayor ATTEST:. APPROVED AS TO FO r City Clerk City"Attorne REVIEWED AND APPROVED: INITIAZED AND APPROV) City Administrator 0001L C.F.K. 3/21/85 123 PLANNING ZOMWG bm SECTIONAL DISTRICT MAP 20--5-II .�- 04 T [ . CITY OF .00+7t0 ptG[IRII >. /tiC Post =w•,+ r.o.�ti .+. •wwT fr .+ i q.w.v vLq.•.f .•A 41a/1• ~ I.rrr rR w w GTT eftecl 00015,tact so toa a640(sl � z !-01%At 1 idg 2*0 an Q some Mall "Mona* MT.LT HUNTINGTON BEACH t•.•a1 w "T e•,s..a.•-cu.a ••H•t/ T•is "wf+ItTt O. / •t! � say ImT fi•!-at w410:tt _ .� �.� ...�. © a..a•r" &Amu a,."-" _ r•sT ..rr fnra ar+ ORANGE `COUNTY, } a RI -CZ \ ;. fi .+ I;q I-cz RI -CZ • i G Q u RI -CZ +{ �u WFKZ pw/T wlf Y•�►fr sr. r 1. / • /. ffun Df . / • t . — Y .I I W4 r.►..•a. •a►T aaff act IvfaT IJlLK1.i 1 = . • t •.. .O ID.t $ ..*::1 .T O .►•t .04 wT.wr.. ay.Nu ar•.+T . CALIFORNIA T ,� .•SO." .010" . ,.tmgwln/TI � !•. •t• •2l fOt. •/.i•.1 N//•.!/ P.f••."d%0-. 1 • r VO •t T Its / • •t • H f H .D/t 1. 1.. • tt /a1. T1 u •i••M yfn.lr,.l ar•.a7 !�•1•••laU. 4. t•1•N M..Ht ..f.tt N•.r1t "�(,j', i .Ow M[NT•f +0"00ewlfcT I. ev44/?• tln t..t.�. vaa+aaOlf T-S•TI W+4TJ "S.Z taa�•r•+••arn-.fwaffil •.II •P+�T ••�••/ ►_ r~ II.I.N .ff 4N !•lD-/1 �W.I 11[� •arn f.arf •1••4T T•t•4f IJ•1... M• u0t /•i•it'•iY-7 •f1 i —svN R.•�,r..•• •� i.Y fM 111 •.. 6. •f /•17Tt 11pT ■WAWIs✓T vans tl 1 Y 1W �,N •'1-Ta •f• 72t tij,^w a-0w. ."WWAMP AVE MH RILRI RI RI •`�-t2R 2./ .' RI« f Es R3 Ni R a g RI i a ��+51 ! R�I 4 i RI IL '�-- Rl RI i>k - I RI MH R2 R2 Ca L. R3'r R3 C2 �-y ola De.volopmen t Col poraLion 10 May 7, 1985 IS (I, "r• r;= LLUI Huntington Beach City Council CITY OF HUY'CINGTON BEACH 2000 Main Street Huntington Beach, CA CITY C,- Dear Mavor Bailey & members of the City Council: This letter is a follow-up of our March 25, 1985, request for -the City Council to adopt an "Inducement Resolution" authorizing us to pursue tax exempt bond financing for our apartment 1.'roject locates'. on the north side of Warner Ave. between Sims & Lynn Streets. Although our request was not approved, the reason for your action was not clear. We have reevaluated our project budget and reduced the estimated costs to t9.8 million (t2,700,000 for land, t4,500,000 for on -site improvements, t5OO,000 for off -site improvements and t2,100,000 for soft costs). As you know this is an estimated budget and every effort will be made to bring the project in at a lower cost. Questions were asked regarding our density bonus and the number of "affordable un:ts" we would incorporate into the project. Unfortunately this point was not clearly presented to the City Council. The zoning ordinance permits 92 units and since we are proposing 102 units, there is only a 10 unit or 10% density bonus. This is well below the 25; bonus normally considered by the City. With regard to the affordability issue, the Federal Government Bond Program requires that 20% of the units be occupied by persons earning leas than 801 of the Median Family Income for Orange County. Also, the Planning Commission did not want the affordable units set aside for the Bond program to cover our affordable housing requirement for the 10 unit density bonus so they required an additional 10 units to be made available to persons earning less than 100% of the Median Fancily Income. Huntington Beach City Council CITY OF HUNTINGTON BEACH Ma �• 7, 1985 A%t- Two tie believe the project will establish an excellent living environment to those who either can not afford to own their own home or who choose to rent rather than purchase their own home. Our units size is well in excess of the City requirements and the open space is greater than 2 1/2 times City requirements. We have attached two newspaper articles which helps put the housing problem in prospective. As you can see from these articles without bond financing, construction of apartment units is next to impossible. The only change from our March 25, 1985 request is a change in the entity to "Warner Partnership I". In view of this additional information, we respectfully request the City Council to reconsider your prior action and adopt an Inducement Resolution permitting us to pursue Tax Exempt Fund Financing. Since tine -s of the essence, we would appreciate your consideration of this request at the May 21, 1985 meeting. Please advise us if you need additional information. Respectfully submitLeu, MOLA/tDEVELOPMENT CORPORATION Flank J. `Mola, President F.7?i : lw LA `40 `, �i i f ; } , ' l 1 � : !:• f ... � 1 i : 4 I � +I a '! • ' i� i + � ,°' � t ..-... � , t ! i s {' i• � � " i : . • r � (s ' r s i ; � l 1• �.ir ` i� �, <i 4 � r `:_.:�' i � � i . t� !' t•,._ � � # �.'z _ �..`. L� ... ! _ � ► � .1ts ram'( 1t�t_-i'�ti�:► �; `l 1 C_jlJ million fi��l l in bond %J1' t c-',uy tiv I.i:::�:! :f L:<�iSll:, •�:!�l.•. :I`,�7: :'i'2`i{7�t, I. at't:,.a, N- �r i t• �I, !'I�}r.a Ftt):•t i::;.i 1'tt.: t�:: I,..:ti ; ;'l: _ . :!i I% ov`6:f :- i,'=� ! :3 i.• .. t^,?' .:' for r t ('•:.tli 111,I(N, or t 1'•l: _, rid it: '.: - l:' ! . , ..'. •I' ...... it 1. , �: titaC:... • �• . : t'::''+ •l. ft':r,;ttl• .:l,;tr I• ., ;i ti /.,t. t for i! tt) I)r' ::;... it jt'•, : iti I%Cri t•.:� t%f Ili:. •! .:i::::.•i•t lil::t`. t•1 I,l:S :n{i I:EitC:i':dtL• II:1• Itt?a:. :':ttil" r r;r�•,li If: I i?i'''.:7 I: !::' ftl!• �i'.!� ,.ai:'.: is I' f'.. �. � It.:�:: a .:� t1L•. CI':.. � i' +t I's!1., Ct'• f.• .:. tE1: etll;, :t 1'... f`t::r il" !'i,.:7 rt' h'."11):. Cii'.:21Y�.•ti by Rc'i:!.` I: :::t'ti t w-v of tt.1.! c 1.v11'lt-t;C'.;ttt:, t�:+ it;ul:'; L4rctlf,{ :ltE! I1-n.p-!-v I::iii— on it .:::.! 1:,1r:;r::' ..'t•:• t::?I t;<••�•.:i:it:c IIlxt' in it.' C:tn b ch.trNi'ti l . Iln ,: to :It It apt :�) tie!Cunt of th.- a; art1r. nt� ►•f I[ia'•i:::: i:: .: t+ �i:tlr`•, I)c 3a: �. If the hir!i for OVA. I:I:I�,t I . rel'ul:c{i or ttit: tlt:it' %viII re. a•It•N tl:'• Ci,L,:It)'*.., Il•,s1C,:, raw. til have .1 nt !lilt I{• ,,:s II!)::1c$ Ct}:l.l -.1 . c aI:Qtit .t percent in 1::'t'rest r:!tt�s over althwa;,:h tl:e ca'.- .:tn)• Irrl. pa ilt'ldaiol,. I IC.'"., ii:'. sa:.;. I:)!r•it .. t:; it,:ctl fl Ci1:1,,:11C!:IW4 :?nt! 1,iI n,on' ilt:!n :S ;'c r: r ;It c:tn L t:• cd to ha I'.arl:t': This I1:t1:1'li, 5t}i}.. r�,•I �,.�;: :7 i' 11-ove i a VZ9 1niih I:: i?i):1{i I.`+s::: to I1t` 11�t'ti to prn.icic I'm An't:rc st, O ear 1.1tt/;IP.v It)III:.s fm I!!)ti'C•: :I:1=i nl'.+t:+ r- '!.C'II:'•t)1•.. I1t/:1't", ".11hill, ll::.�CC titi' I1unw at.!C I't' �:+:. �a.:Cta.: •" II: ran,,.0 III FI't�3:i Ei7 fro, I :IRtt.tuw to St,i),t}Ut), the count, staff said The two bond issues are similar, Sayer:; said. in provi:itr,i; housiug altrrnati:•cti ft}r l++�ti'•is:cut:re ctxir;, residents. lttaegcer. Ow home 1myi inl; band issue in ul•:-,= creating, a t: a :t fr+tn] tl,c. rt ove; that is used as a source for the low-io rest loan. ThC c(m.-ttj isrm-ed its fl{$t multi- f. • , ,., • f.►t;�it} r.•:•t:n;;+� +.. d, t!;rt,a},!t t;.t: C:!li�c}r:tt:i c'.partinent t: cnt Proiz am it, 19Q i}evc!,!;' r in:vrest ill building A7artment complexes with units for la;r•in- co me renters has surged ill the last two years. probably because inter- est rates have dropped. Sapr:s ti.1 'ne countr's tavexeript honds would be b++tihht by investors nr pti att: in.stituti+ens. 'flit, boat:.,• art: underwritten tty a :tank. �o the couray has t:, fittaitcial rtolit'atioa. l[t:tt•t��•t:r, ti:e ('+tiiittj• e,.;tttititt• 11'.1t1vt: overm:e.s ihr special reiai progr:tin to rnakv site that 20 percent of the units are nvail- ahle to low•inc.osnt: rersters. Bonds for two of the apartment projects Aliso Creek in Laguna. llilis,and Pointe \igu:l in Laguna Niguel --are expected to be rnar- lceted later this motuh. Bondi for the 16verhend .Apartments in Yorha Linda should be rnarketed in May, No date tto; been set for rrtar rt- ii:,; hands for ttie Harbor Pointe apartment project in Dana Point. � J � i + } � �.. t j r i tt �j _ t 1 (tt , . y `� it� f ! i • a(f LO 0 now t t .t'tr:::t'• .t,•' as -' ..'.: ... _ _` •, ., ,. .. *' � • ', f � a. •L ,t ''1!'it ! L`:. ... a: Ia:3�•t4 � ''�' rN' [ia.: � .Rr,• Y, t t ,. t .. , •!,: t'..' ,:it' y •CC ... t' i a' :t';•^ '•, J y ,:r ., .. ,. }, t a. 'J;t +, a l: t`: 'T t'.!•-'�}i3:3� l`l i~ s 3: ifi r, tr ' ::t.'r a + ., . ::.... , �. •. ,, it: • C ..:, . Sil![: :•. t.'•i ?t) ,S J ` _ • -t•.: is �' ±. y ±• r • i t.:! al a �•r . t. .�', .:' .....t t'... �i:.. 7 } r • ` a �� t rk .` S • .. U ..`I' •t. .li•,.t: .>.. :ia''I:rL;:iJ. .tt`i ., :3Jt'O - ff V. ,. 'N, '3 .l:: .S •.: 'r:'r' iii:3i ... ..• :4 e::. Was:r•• •�� ' .. ... `.r •. I,• .... ••R, ... t t .t '.I:C :.. ,.r t•r •` �.ra. ... �: ;(tf', '(-i ' `' ...`,. ., t,. :..: Tt a ,, . �:::.t I! y : t: i'.,, R' 1 •i. t:.t* 3 t: , c. ,t,, t 'C:a': r i,..`> _ �I., �-.,.'{• � ,.:i �r t . •S ...r; , •��:�.t ..:::3.'; t.. t .s,.ii�'• r } } J' .t' :.," _�;• f, tt, t;tt f i 1.:: t tR .r :I .:I;' ....'L::::: i,. •„ �- �!: i• J .-i., .•is ,, ..� :'• f .. .: , ,.. i 110l' Jat' iJ• r' , .t� t ►'t'::L' .. . .,. t: a, :3Jc �. ' t J:: ..l;i't' :":•(; }:,t ' :ta:�t:•::3:- ,,,S:t::,. ;;• :lr e t• l.: f' t ' �`. ;t.: C �' V Orivy I:....,L'j t li`lii('....`+,....'rj:str{• .,. J 1 :.` .i `J•l:. 17..., r!'i;rt:.:t 1 : as :S ! t `. :il; : iN_ �� 1` .:fit a.:. ':J: t:f •t+ `.,. .,•t'� t.�i�, i•' •t. a• -. ... t. a'. ,...... .,�.. f 'i ... � � `' t•a J i' Caii :1;:Uiii jl) }tJ r•`' ,.S:rr• ..r .t j Q t r t• rrn; f:.'•w'�'::..:...f1Y:.:.:.'�.Z�rr':J�.?c�:i:-4'.7'.T.:?.:".::;:'� �=..�7.'.:JS�.....L::Z.L^.'::�-.:Sew,.L"�?:,'^f..�:,�t^:',[Z�'C".'_^si:t�t.�'..'::"i�:i?.'X:."..L::,,Y:,i."%: :: Jar:eb/ of factors Wrn Oran' �e coin :.(`.••it'.. Sham �. :S �!ni'. about C•f wpm real! CS•,a e a:tit I Celt. It I::II;,I horne buy { wry individual ACCISIrIri, in l:a' opininn of James Dun, director of Cha ,.:adw i:Cemer for curiumic Me ca ril make b:;,r.'r.ct `state- i:tei::J that everyone C+"'`:Iili t'uy a hime any inure," says ((� j�;`)tl,-The iuh provs At Hat uu have to :::W •.1 ou: :S a -halt Y -':: could do :tits± Q ,:n—ne'• u : uu t!e..'!: :c` rent 1 .`)::a01wers in fir it :: ng •i;t :. pan: Fayz that rnw.wm Me YAP to An: ermyrus W. ., . a Own rnoys it Me Oe al ; t:. t r i 1 a. w ..,. lI jt:lL: vlwiy nat year and there in a :r.s., �•:" :Leif;: jt ierCtj;C j�reiCI" ♦ :fit.• no ':S::L':.,e aroh::tetic offer!." aiii.• .it �' tt t. . .:fir C�'ii..t LLii atj.t.or:.' nAl raj ". . 1.41:i�::"; ':cis r:`�:':: �►:; AverAjrc; u�'�. ii.% '1ei'Ce::: t^ i:t'T`t lG4%itiCt:S !)vt:r a t+:•� ^as; :w•n •'r::rs, r:�ccrt;i^�; �Q 1 . Jot.- aro.'•l. rt�f Cc�a!',t•u;i �'a:lr.cr Kesidcn• . rod In Qra:tre Cout::yr . howes'cr, lhnnuer says honim PC by Cold• tt eji Iiattir.r a4�`.:,ts u.ir :t,j; the first t,aartcr ri it�e5 c:r�;`; �d 6.27 per- rer:::a price. C.r:l:;:t c:i Banker has an 113 I;::rcenr ♦,:atr kat share is the Cn::nt', lia::iOV . w,•mand has suer r rxe! for '::.c.tiA; AS hw� i+' nimble .`• : t S175,350 in 1: wamparwa::. TWOU Real A , a.::�'''::'piicr, in the .... !r+...'e ..I;Irn•::L,E f�'�, accvrdin g •'t •.,r: llr`� ,„!t',:l r".:r,,:n G. Smith. To ,. ud .,. for the, par for .Tar. tQ w.s:,�,1.st~.1) W Sinver tries l t`: ; ::: i,l, in r er'�re':U�•e: l 'r: • i 'n Ann, ' anj OW .,. .. my and the it'"I.i•�wto::e; 'i:tilt: the best , ie ;trt�c :n ut::r, words, it's :'''.;'crtise And are neCe!_::ry to ensure, str=q wur n on one's invest- ' r yam..-' , .. .�• I� .�", , Duane W., i �•,,.,^ a. is ,' � � t •' � ..: Y n' C : s al estc e mat, <1_.t r41tealtors Insist this is.a positive �tren& CARz President -Raymond Spinelli says the return to modest home:Inflation Is a return M nor. ,malcy-, Housing should be bought fQr shelter, not for speculation; is One builder who, has' r'led'to nioveiright along with the'pendu- lout is Irvine Pacific," the 'residen- tial construction arm of the ew• poIrt Beach -based, Irvine Co.:. ."Ttivo )'ears ago, the division. shift- ed its emphasis from single -fancily. s to multi-I'Mily,'using $100 million'. t: In' - county' -backed bonds.I . The :bonds,'with Interest rates less than 11 percent; -will fund construction of abcut.S,OfA `apartments ..This year; Irvine Pacific N;ill `;. build 1,31,10. apartments. All are rented before the. buildings are completed. `lost rents average - . , .... .. .,.... .. .41. . . into�econornic quagmire $700 a month, according to Roland Osgood, Irvine Pacific president. "We went out for a market —call it yuppie or whale v er-- and we hit it right on. We nre renting to young executives who need an apartment while they• save money for their home: downpayn ent,'.'". says _ Os- good. ,Many' of those Executives, he , says, are camping out at Irvine Pa- cific ' single-farniiy housing; pro- -jects in Ir: ine. The firm will build /00 units this year, priced between, S1t0,C�tuJ and :12S,0+i0. Th,-t's cr.n- ;sidcrably less than the count;: me- . dian new. home- price ;of about S166,M0. The real question is rot'.vheth.cr Osgood can sell his lower -priced housing, but whether the county car, traintain a strong tit; nn:•er of raid- to :tirh-et:d real estate. Nat crl} are properly values si!- C tiog still, but bankers wart more rash to let buycrs into deals. Gone with inflation -driven real estate is the 5 p^_rccat do%vnpoy- ment of the 197os. Today lenders want 20 percent or more down. On top of that chunk of cash, the lend- ers «•ant to shift most of the risr. to the buyers through adjustable -rate lorns. Ti ere are indications home prices in Grange Count}' could de- cline further while mortgage rates remain at their current levels. That scera-. io is enough to make srr:I.rt buyers keep renting while they bank their money at 10 per- cent or higher returns, the econo- inists admit. As D36 IIU!5 it, "The bit; questicn for those «'ith the downpayment is :Where they can best put that mon. ty. "irgs aren't going to change frr a )Ong titr.e." q cil) Oo f_' 3 Ul rxz buuw= an I_I a t �.r'^'y:�+•�+ t .} a. ��r ,.. _ �a RAa _ : � i `� �. 4 , ��•.+ ; •_�... 1,^w ���'t.�'i T !Y ,t 1 �~ .S L��` Y�. `�� �y.': �+'.�` .,t...r' ..-�". �.. �:+'. �.. ,� • • , �-` I' r• F �( i� t � . v•�'�'~ � t.. Ld, 7..w ..t� '1:�� �.� � ►� w►,i� �•iG v, iT ..+ '•�.�. . �� .,r. ' v �> • u--'•,• ..,..,,t �..i-� +• ;.; .',.';� .r,•+a ✓"ra_-!'• t_ ,y �•�sJ f :-i..l., u. t�...a.-' •�t•N a,..�s.� .1�.�}�;,;., ..ai.t�.+.► .��r.� �,•t„�r�,i ..ice :mot,. ��, yl� ,}, �.,,rajej _ • .ice -e.� +.'. _ a� �.lt�'�?t _,�"'�� a, �• 3,y�. �s�,.s, t J.+v---•Y`►:.-..� . -_r_._t► . 2�.� — w,w,.fw ,.F VUf tll v, lln.. s� ... • 1 '�'t r' � ,•�-\ ^�� ^ �'� � "'y1 {� �y+ �'1/�`t .!71Rty "� sr : ri�, � '_"� ty.+a �.jstr�s.w ,-�,;�', ��,. -- .� w�' Liti�►•1 .. . Y: �'.utti� .a� lei t�ai y 'cif �M'bi ►i ii� � .+..•wi..y,•�r'�''"�.`:. ` � ' `�t = ::, � -op cl,0 ;�.s ��� �.$�, z � on Dead Letter of Intent neveilopment Pia^ning Team Slat isi icnl Armlvs►s Exhibit A Illustrative Site Plan Parking Plan Open Space Plan Technical Site Plan As -Built Site Plan Oil Facilities Exhibit Floor Plans Elevation and Section Elevations Tentative Tract Map DEVELOPMENT PLANNING TEAM BUILDER/DEVELOPER Mula Development Corporation 8072 Adams Avenue Huntington Beach, California 92646 (714) 969-1343 PLANNING CONSULTANT Rict-ord A. F-klriow & Associates 333 West Yorktown Avenue Huntin ,ton Beach, California 92648 (714) 536-6464 CIVIL ENGINEER F-?unsa'ker ' Associates 3001 Redhill Avenue, Building #6 Suite 212 Costa Vmsa, California 92626 J ;' 't) 954-101 1 ARCHITECTIPLAN%iER Carl Mtcl-arand Associates, Inc. 695 Town Ccnter Drive, Suite 300 Costa Mesa, California 92626 (714) 549-2207 STATISTICAL ANALYSIS Scheme 2 Scheme 3 r. Botler De-vr_lopment flan 'Aolo Development Proposed NLola i--seve-lopment .. CorAorninium Plan Aparin-w.nt Plan Site Area l Gross 3.,"1 acres "73 ocrr_r. 3.73 acres Net � 7.5% of Site 3.21► ncres7 2_. 8 ncres2 filet 3.01 ocres2 2.59 acres2 'Aimber of Units: Propnst:d C C, 102 102 ' ?-3 (25 un;1s./ocre for fii 70 (2.78 acres) -� a 3 cant �ni1�41i1e41r1i � tall 81 (3.24 acres) ' f�-3 (2..+.V unit%/r.cr,-- for 925 apart, men! plan3) Df!nsi ty Bonus3 0 111 (2.78 acres) 10 30 (3.24 acres) i\l+)mL :r of Affortk►I,le knits G iCi2 To Be Determined Average Unit L-.rca 1,244 square feet 793 square feat 793 square feet 04!droorn Count 132 102 102 --: Be-clroc--m; Gross Acre Per -nil. te•d IN;onv Str,ted — Proposed 4004 (3.24 acr,-5) 31.48 (3.24 acres) 27.35 (3.73 acres) 3c� '.ir; acres) ' (2.78 ace ) square roe' 4(,,800 SciI,are feet 20,400 square feet Provided 3`,j.713 square feat ci2. 09 s(oare feet 62,109 square feet "orking Req= oi r<<ri i t� 5 S;,nce+C 7t3h :pace-s 153 spaces Provided 165 spocea 205 spoccs 154 spaces Site ;:overage 52.9'N, (not) 63.3'Vi (net) 46.3` , (net) Unit Footprint Coverage 27.8A; (net) 27.3% (net) 27.3% (net) _ 1 Siie area colculotions have been exhibits-ri on following sheet. 2 The difference in acreacIc between the two plans is the result of a 30' street dedication along Warner Avenue required for approval of the prior plan. This area is normally included within the site area caicuaI ion. Adjusted orrcage shown to pe.init equal evaluation of the plans. "� le This calcuic.t ior: includes a 19, i 80-square--foot parking structure (17% coverage). Surface to be used for re-creationai purposes. S Density is calculated or, gross acreage to center line of street based on 3.73 acres. EXHIB1; A MM A = 1.06 acres -»� B = .26 acres C = 1.27 acres D = .42 acres E = .16 acres r = .14 acres w F = .42 acres AASS Site*: _' neme 1: A+13-# C+D 4,E *F-► G 3.73 acres Scheme 2 & 3: A + B - C - D• E + F +G 3.73 acres New Site: _. Scheme 1: A + B + i . D = 3.01 acres Scheme 2 � 3: A + B + C = 2.59 acres Net + 714% of Site:. ... Scheme ! : 1.075 x 3.0 ► = 3.24 (icres Scheme 2 & 3: 1.075 x 2.59 = 2.78 acres *To center of street S. 2s c I for ' 6LK. l4 Lor 4 ; ®r Q iFT 4 �' T `•�. � .:• � �E rem a• ri ' .irr*�'• -1 E * k -o 'i A t cc• r � 1.?, 14 C. A10. l t532 ,� � . •• •. : fit: �. y J��wi7�+'IC-IYC�/as�A1�/O�i+r1.wi�i�I'I��iAtrfitltirrO/yl�cl�/'�il101tit�ir:'�I �rlls►�is.11�lT�_ t 1: S 6 c/h �. / �+I4 /�/O�a�i��.fi� �.kTil�ijli�►iv�iv�.�'I n v •n -- 10-02 TF'�:Cr vo. 66 M hf k) - 35, .36 -- TrrAC rtvo 9307 /V A( JJ6— T, b rR4C/ NO. 1!5.3,? V Af ti O j - 10. 11 PARCE: : i! -S P. Af 56 - 44, 60-37 153- :0 r.'OrE- ASSESSORS &OCA' Q PARCEL NUMAF. RS rHOWN IN CIRCL £S ASSESSOR'S Abl;P BOOR' 178 PAGE 25 COuNrr Or ORANGE W al! t i SITE INFO. GOILISS ACREAGE 7 (12 ACnEll Di, PiM1.Y S• U}t11SlACnr 1 Psnt.! UNIT!" At t E4(Sn4t + 01:li 41 TOTAL UNITS tn: 90 j __i__-.! pAlwlp s11EQUIPlp 15'{ ^MACE•.1 ...1 PAnKiNG P11OVIOEU 154 SPAUS OVEN !,PACE nE'OU;nm 2O4uo S r. O1'E'!i SPACE PROVI )EI1 67 100 s.r. r•... a...•.•t �i •.' Vt.r�-wa� `;,=;D !, -'�. .... _. .I`t.�.r _ r \, J• �y L .a.t.•.t.. t•.nfrw+♦ ,E 1~'•`++, ,. �• fit' .� /�►�41 •T l t ~ �!•♦ ,,�• /}t.s; . C•tt•ii .' �• .� ~ 14 + .!l..st.--1 `.•`. t iiu'10r1i(1 : •• `{M j• wy� ;•��//! r ' l •, ?~1.•! t�. �•r•.t'�! . ,yK t ,t 1 Lt:.L�.....1� s I . a + j](j . �•t. .ti.,t +..-.��..- f . L f r•+ ti 1 ''• .. •••" ✓ 1 D� Sy. tAwlw..w. ' ♦Y 1. .rl � � . � �•t�t4••Y•.•1 j\\ t•�.:• • f•�'..+.h l i 1 ♦:� ( hw•. .M1��•w �• �1�iti� r .,�.. �. t>✓. rr� ..—+.% '�l � t�.i •+lit. \.. ..�+r � :� 1•�r•�� 1� 1. ..••r. +A�•�� ��'i'l_;��, T NM ... « `r �!•; .i1 � ._: .. �:• _ ` � �.:�' It . P��r� k � EC �"rY•'l/� i .J ' ,' `,,, ! '."�" 1 . > ^ ��.' Lam. i y � • � '► •` -, , . f,r ��.�" = 1 �.•r �-j—Y�; �,I l —p� •'� � :..i .a i �71) u �q1.� ~{.I`•ZW 4 �// j1•r.� 1 1,• 3 ai -j t,r. . _=......�.r`..� �l •v, .y ��J _ _.4 �T.� ' .•_.-... _ .' .'._ _ _ .'_'__ _ __'_ ....__ 1A'+L t'� •'�J t WAStoEn Avflalf. • L� L-4 J, L U L Li hunt 1 iviC4 ' � V I i E C01 ��� beach y ILLUSTRATIVE SITE PLAN t! ••• M PARKING INFO. IIU :O+•.(3 t Ra SPACES MALDNG I 40 SPACES 0 :0 4f3 AO 1... OPEN PARIONG A %PACES TOTAL PAnKING PnOVIOCO IM SPACES _ ._. TOI AL PAnKING nECIUMCD IM. SPACCS ,., !T--•�;. .. .. t�,�.j_.—..��L.� to i ��.,�..�i-..;«t-:?vf•�•wr.rr.ti.liY•rt!'ty .�.•....w { ft .. _ •.w..!•�rr1.�,.w..:Il. st••LnS•�r.N.e.y.rt.4rw=r.l IYAnN(n AvF►•uF PARKING ASSICI,WDST PARKING PLAN : ri i;/ 1 (`�� � � ` ��t,�—:� I y i t-f • + w` �i .t T `�. tf '►7Q�>t�`'i � ; ��� j • ,�R'� t•..vi�yf' , t �f1 t: ri :i9 '.A-1 tav Ltrt Lt Ili o is L' i� Tor solo cieve.1oprnef .L* Coll* hug Eire on bead t � p _, ./. .. f w i OPEN SPACE CALCULATION :7P1.N SPACr nrOU#nro - w oaRs x 7tM 5T.1UN1t =4 OPCN SPACE Pnovamn cok""4 aA4 7ta • 14r,1 • rrt - Na0 P77 • 14A.' • t 103 - tO:aA•tDUt7•J250.191JA• tGG1 r• pIWAIC - tat to 5 f ..� a ?� •� Aa ��4g$ S TAL 1 r . o J C.nn' : •CnEAcr. : 417 ACnrS + Dr•a•d1Y 34 UPUi:,lACnf -. _.._........r.�.r._.,_......�f CV11tAtt SItC COVF..nAGV Sn:♦ ;•a+• Utoli rOOTNiNT COVigAGr 74.7% ;W nqs! J •'.� * �� # .-ti •...a ..� ♦.•`1 �'• L {—j �+ -� � r' 1 ( +I•�. 14A 1 5.i. ++t �`�..��}�' .�,-f . 1�-...:.'{i ',"�' iif r `� tLLJ-L �j� f_.l�J / _ i _ — 7..l•»l +' ♦ `� I N!'''t��.+.'�r\ •-��% ti�- } ' `i t ....tea.-i# .: i..w :�:.: I.''r�^• �T�� ��iJ �i a •`.{./ '� j.aj`�•.a� , s, f L'T _5��. ...*'..J� �.,,\ �'t.... :'.y # t it'.•t.,.t�. -'T1 �i�, �.i#I, a ,rfv� �:I-��"t j r. rt��:` i 2 J J: Sa :, r a , _ fl:eti t;l•ati , .. ti# 'v.. - .i'.� itrll. D�'.0 f `• (/+y •-i'• ..,►�--=--� tQ7QA 5 f. •~ \l •.>: t r • ... �^ .-.r `:j '.' •'•; .', . _ .•,. � • •,�:, �-._<+�r� ,tom. _ ,.....+.,,-{� �, ''+'; ... .r.. .. - `� � :.... _, rt.a`ii __ _ �►r•�..f:a:..C:.i.:l.�J..+..•�e.ji.rlrl�\i•�7 ►.�•'. tY"wl.:•�:.il��:J `•-l.t,•.�Y ... •``'',,«� �..�' .'tl.'•'.'. ice.•. i.��,.t�r •'e5' ,�" ►. ttit�Ll.�•.i�.:aivt: tl:f: .iJ'�.1:.i�S'.. 1.�� IQ171A :! vrAnrartt AVEt1ur OPEN SPACE SITE PLAN 0101 I •`, itJ 1 �.a w . �:.'S.T Lr !:J a f �i.'.� ` .., t �:�5.► t i�: is L .Zz 1 U Li ss :': ' r� ,,.,,,n : r, { 4,�, .t ",.A Al C01;.�■, � tom:: �$�� �� ���Ch SiTE INFO. GnO!Stl AcnCAQC 7.02 ACRES VENJITY 34 UNITSIACK • I SIMI&A 104TS I I)Dflkf * DEN 41 70TAL uh:T3 20 40 no i---- .--I P.1.4740MI"D 15-1 ::pACrS PAFIKIP#C'. PROVIDED I." SPACE5 orrn !*,PAC17 nrOUfnr.D 204M !, Jr. OPEN SPACE: PFIOVIDED m2iow s.r. Ll Ll k, 00 134 V. 71. L it 2 7 Avrhuu ..4 W %A L '10 r.l 0!-:) 8-Ir"Cl C- C 0 SrDll. 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