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HomeMy WebLinkAboutC-9806-4 - Notice of Affordability Restgrictions on Transfer of PropertyRECORDING REQUESTED BY: Recorded in Official Records, Orange County Hugh Nguyen, IIIIIIIIIIIIIIIIIIIIIIIIIIIIxIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII NOFEE LENNAR TITLE, INC. Ig500q- 0001%1 AND WHEN RECORDED MAIL TO: City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 Attn: City Manager 2025000068069 01:15 pm 02/28/25 7 RecSup3A NO3 7 0.00 0.00 0.00 0.0018.00 0.00 0.00 0.00 0.00 0.00 Notice of Affordability Restrictions on Transfer of Property (Please fill in documenttitle(s) on this line) 1 0 Exempt from fee per GC27388.1 due to being recorded in connection with concurrent transfer that is subject to the imposition of documentary transfer tax, or, 2 ❑ Exempt from fee per GC27388.1 due to being recorded in connection with a transfer that was subject to documentary transfer tax which was paid on document recorded previously on (date*) as document number of official Records, or, 3 ❑ Exempt from fee per GC27388.1 due to the maximum fees being paid on documents in this transaction, or, 4 ❑ Exempt from fee per GC27388.1 due to the maximum fees having been paid on documents in the transaction(s) recorded previously on (date*) as document number(s) of Official Records, or, 5 ❑ Exempt from fee per GC27388.1, document transfers real property that is a residential dwelling to an owner -occupier, or, document is recorded in connection with concurrent transfer that is a residential dwelling to an owner -occupier, or, 6 ❑ Exempt from fee per GC27388.1 due to it being recorded in connection with a transfer of real property that is a residential dwelling to an owner -occupier. The recorded document transferring the dwelling to the owner -occupier was recorded on (date*) as document number(s) 7 ❑ Exempt from fee per GC27388.1 due to being executed or recorded by the federal government in accordance with the Uniform Federal lien Registration Act, by the state, or any county, municipality or other political subdivision of the state, or, 8 ❑ Exempt from the fee per GC 27388.1(a) (1); Not related to real property, or, 9 ❑ Exempt from fee under GC27388.1 for the following reasons: THIS PAGE ADDED TO PROVIDE SENATE BILL2 EXBVIMM NFORMATION (Additional recordingfeeapplies) Rev 1/19 *The Prior Recording Reference must have been recorded within the last 60 days and is subject to review RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 Attn: City Manager Exempt From Recording Fee Pursuant to Government Code § 27383 NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY Important notice to owners, purchasers, tenants, lenders, brokers, escrow and title companies, and other persons, regarding affordable housing restrictions on the real property described in this Notice: Affordable housing restrictions have been recorded with respect to the property described below (referred to in this Notice as the "Property") which require that the Property be developed as a seventy-six (76) permanent supportive housing units ("PSH Unit" or "PSH Units"), plus two (2) unrestricted managers units (the "Project"), with City of Costa Mesa receiving local preference for no less than sixteen (16) permanent supportive housing units ("Costa Mesa Preference Unit") and the City of Newport Beach, a California municipal corporation and charter city ("City"), receiving local preference for no less than twelve (12) PSH Units ("Newport Beach Preference Unit") with all of such units restricted for rental and occupancy by "Eligible Tenants" at an "Affordable Rent" (as those terms are defined in the City Regulatory Agreement) for a term of fifty five (55) years from the date the Notice of Commencement of Affordability Restriction is issued by City and caused to be recorded in the Official Records of Orange County against the Property; or (ii) if not able to be determined, fifty-seven (57) years after the date of the Affordable Housing Loan Agreement by and between City and. American Family Housing, a California nonprofit public benefit corporation ("Owner"). Title of Document Containing Affordable Housing Restrictions: Joint Regulatory Agreement and Declaration of Covenants and Restrictions ("Regulatory Agreement"). Parties to Regulatory Agreement: City, City of Costa Mesa, a California municipal corporation, and Owner. The Regulatory Agreement is recorded concurrently with this Notice, in the Official Records of Orange County. Legal Description of Property: See Exhibit "A" attached hereto and incorporated herein by this reference. 92626. Location of Property: 1400 Bristol Street, Costa Mesa, County of Orange, California Assessor's Parcel Number of Property: 439-312-12 221 1\08\3884046.2 Summary of Regulatory Agreement: o The Regulatory Agreement restricts rental of twenty-eight (28) units as described in Exhibit B hereto. o The term of the Regulatory Agreement is 55 years. This Notice does not contain a full description of the details of all of the terms and conditions of the Regulatory Agreement. You will need to obtain and read the Regulatory Agreement to fully understand the restrictions and requirements which apply to the Property. This Notice is being recorded and filed in compliance with Health and Safety Code Section 33334.3(f)(3) and (4), and shall be indexed against the City and the Owner of the Property. [Signatures on the following page] 2 2211\08\3884046.2 Date: q 2� "City" CITY OF NEWPORT BEACH, a California municipal corporation and charter city By: Gr e . Leung ity anager ATTEST: L Mani I. Brown City Clerk APPROVED AS TO FORM: ��cFanNP AajrMrJ—W'4'd- n C. Harp City Attorney 2211\08\3884046.2 CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. who proved to me on the basis of satisfactory evidence to be the person* whose name: is/afe subscribed to the within instrument and acknowledged to me that hrg/she/t4ey executed the same in h4aher/ter authorized capacity(' , and that by l/her/tir signature(on the instrument the person(s, or the entity upon behalf of which the person(acted, executed the instrument. ti*—MY CASSANDRA HAWKSNotary Public • California Orange County Commission 2 Comm. Expires Sep46S2273, 2027 r Place Notary Seal and/or Stamp Above I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature Signature of Notary Public Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer is Representing: ©2019 National Notary Association Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer is Representing: EXHIBIT "A" LEGAL DESCRIPTION OF PROPERTY LEGAL DESCRIPTION That real property located in the State of California, County of Orange, City of Costa Mesa, and described as follows: PARCEL 2, IN THE CITY OF COSTA MESA, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 24 PAGE 23 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPTING THEREFROM THAT PORTION CONVEYED TO MESA CONSOLIDATED WATER DISTRICT BY DEED RECORDED DECEMBER 31, 1986 AS INSTRUMENT NO. 86-656909, OFFICIAL RECORDS. ALSO EXCEPTING ALL OIL, OIL RIGHTS, MINERALS, MINERAL RIGHTS, NATURAL GAS, NATURAL GAS RIGHTS, AND OTHER HYDROCARBONS BY WHATSOEVER NAME KNOWN THAT MAY BE WITHIN OR UNDER THE PARCEL OF LAND HEREINABOVE DESCRIBED, TOGETHER WITH THE PERPETUAL RIGHT OF DRILLING, MINING, EXPLORING AND OPERATING THEREFORE AND REMOVING THE SAME FROM SAID LAND OR ANY OTHER LAND, INCLUDING THE RIGHT TO WHIPSTOCK OR DIRECTIONALLY DRILL AND MINE FROM LANDS OTHER THAN THOSE HEREINABOVE DESCRIBED, OIL OR GAS WELLS, TUNNELS AND SHAFTS INTO, THROUGH OR ACROSS THE SUBSURFACE OF THE LAND HEREINABOVE DESCRIBED, AND TO BOTTOM SUCH WHIPSTCKED OR DIRECTIONALLY DRILLED WELLS, TUNNELS AND SHAFTS UNDER AND BENEATH OR BEYOND THE EXTERIOR LIMITS THEREOF, AND TO REDRILL, RETUNNEL, EQUIP, MAINTAIN, REPAIR, DEEPEN AND OPERATE ANY SUCH WELLS .OR MINES, WITHOUT, HOWEVER, THE RIGHT TO DRILL, MINE, EXPLORE AND OPERATE THROUGH THE SURFACE OF THE UPPER 500 FEET OF THE SUBSURFACE OF THE LAND HEREINABOVE DESCRIBED, AS RESERVED IN DEED FROM THE IRVINE COMPANY, A CORPORATION, RECORDED MARCH 5, 1968 IN BOOK 8535 PAGE 62 OF OFFICIAL RECORDS. APN: 439-312-12 5 2211\08\3884046.2 EXHIBIT "B" RESTRICTED UNIT MATRIX* City: Size Newport Beach Studio Costa Mesa Studio No. of Units 30% AMI Household Unit 12 12 16 16 *The Project includes two (2) unrestricted Manager's Units that shall each be occupied by an on - site property manager and not an Eligible Tenant. 6 2211\08\3884046.2