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HomeMy WebLinkAboutContracts & Agreements_18-1985_CCv0001.pdf COOPERATIVE AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO AND THE CITY OF REDLANDS THIS COOPERATIVE AGREEMENT (this "Cooperative Agreement" ) is hereby made and entered into as of May 21 , 1985, by and between the HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO, a public corporation and body politic of the State of California, (the "Authority" ) and the CITY OF REDLANDS, a municipal corporation located in the County of San Bernardino (the "City" ) . WITNESSETH WHEREAS, the Authority has determined to engage in a multifamily rental housing mortgage finance program (the "Program") pursuant to Chapter 1 of Part 2 of Division 24 of the Health and Safety Code of the State of California (the "Act" ) to finance construction or mortgage loans for the development of a multifamily rental housing project in the County of San Bernardino, all as provided for in the Act; and WHEREAS, the Authority has determined to borrow money to finance the Program by the issuance of revenue bonds (the "Bonds" ) as authorized by the Act; and WHEREAS, the City is willing to cooperate with the Authority pursuant to its implementation of the Program within the corporate boundaries of the City, provided that (1) such cooperation and implementation shall in no way limit the City' s ability to exercise its own powers and develop its own similar program on other sites; and (2) the City shall retain all normal planning and building approval processes and authority over the Authority program within the City' s corporate limits; NOW, THEREFORE, in consideration of the mutual covenants hereinafter provided, the parties hereto agreelas follows: Section 1. The words and phrases of this Cooperative Agreement shall, for all purposes hereof unless otherwise defined, have the meaning assigned to such words and phrases in the Act. Section 2. The Authority agrees to use its best efforts to undertake the Program and to issue the Bonds therefore as soon as the Authority determines the same to be necessary and advisable. -1- Section 3 The City represents that: ( I) The City has heretofore adopted a General Plan for the City which it believes to be in conformance with the provisions of the Planning and Zoning Law of the State of California (Government Code Section 65000 et seq. ) ; (II ) said General Plan includes a Land Use Element and a Housing Element as required by Government Code Section 65302; and (III) the Program and Program Site do comply with said Land Use Element and Housing Element. Section 4. The City agrees that the Authority may make a multifamily rental housing mortgage under the Program, and that the Authority may exercise any and all of its powers for the purpose of financing a multifamily rental housing mortgage pursuant to the Act with respect to the following projects: Developer Project Location Deljit & Elaine New York New York Sarkaria/W.J.E. Gardens and State Street Corporation Section 5. The City agrees to undertake such further proceedings or actions as may be necessary in order to carry out the terms and the intent of this Cooperative Agreement; and the City further agrees to refrain from taking any action which would, to its knowledge, tend to adversely affect the rating on the Bonds to be issued by the Authority pursuant hereto; provided that nothing in this Cooperative Agreement shall in any way or manner be construed to restrain, or in any way limit, the exercise by the City of its Planning, Land Use, Building Permit, or other authority, over any aspect of the Program herein proposed. Section 6. Nothing in this Cooperative Agreement shall prevent the Authority or the City from entering into one or more agreements with other political subdivisions within their respective boundaries, if deemed necessary and advisable to do so by the Authority or the City, nor shall anything in this Cooperative Agreement be construed as limiting the exercise by the Authority or the City of any of their respective applicable powers or authorities. -2- Section 7. This Cooperative Agreement may be amended by one or more supplemental agreements executed by the Authority and the City at any time, except that no such amendment or supplement shall be made which shall adversely affect the rights of the holders of the Bonds issued by the Authority in connection with the Program, Section S. The term of this Cooperative Agreement shall commence on the date first above written and terminate at the end of the origination period for mortgage loans under the loan for the Program. IN WITNESS WHEREOF, the parties hereto have caused this Cooperative Agreement to be executed and attested by their proper officers thereunto duly authorized, and their Official Seals to be hereto affixed, all as of the date first above written. HOUSING AUTHORITY OF THE CITY OF REDLANDS COUNTY OF SAN BERNARDINO By - By ATTEST. ATTEST: By. C erk ty Clerk PF0058A