HomeMy WebLinkAboutC-4070(A) - Termination of Affordable Housing Agreement for Villa Point (Phase II)RECORDED AT REQUEST OF,
AND WHEN RECORDED MAIL TO:
City of Newport Beach
Attn: City Clerk
3300 Newport Blvd.
P.O. Box 1768
Newport Beach, CA 92658 -8915
Recorded in Official Records, Orange County
Tom Daly, Clerk- Recorder
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(SPACE ABOVE THIS LINE FOR RECORDER'S USEI
This document is exempt from recording fees
per Govt. Code § 27383
TERMINATION OF AFFORDABLE HOUSING AGREEMENT
FOR VILLA POINT (PHASE II)
WHEREAS, the City of Newport Beach, a California municipal corporation ( "City ") and the
Irvine Company, a Delaware corporation ("Irvine") entered into an affordable housing agreement
for Villa Point on November 13, 1990, with official document recording number 90- 650163
( "Agreement "); and
WHEREAS, under the Agreement Irvine contracted to provide affordable housing units for
a period of twenty years to mitigate the development of a multifamily residential project of 90
dwellings units at 201 Villa Point Drive, Newport Beach, California as described in Exhibit "A"
which is incorporated by reference herein; and
WHEREAS, Irvine elected to provide the affordable housing units at an offsite location
commonly referred to as the Newport North Apartment Project described in Exhibit "B" which is
incorporated by reference herein; and
WHEREAS, Irvine's obligation to provide affordable housing units under the Agreement
expired on March 24, 2011.
NOW, THEREFORE, the City does hereby terminate Irvine's obligation to provide
affordable housing units under the Agreement and removes this affordable housing unit obligation
as a matter affecting title to the Newport North Apartment Project described in Exhibit "B."
IN WITNESS WHEREOF, this instrument is duly executed this /May �1ay of May, 2011.
APPROVED AS TO FORM: CITY OF NEWPORT BEACH,
OFFICE OF THE CITY ATTORNEY A Municipal Corporation
By.
l c�
`eofiie Mulvihill, Ivy
Assistant City Attorney AsN�
City Clerk
By: G- 4,11n
David Kiff,
Manager
STATE OF CALIFORNIA
COUNTY OFQ
On 14�l2 20" , before me, 14�k Lo , the
undersigned Notary Public in and for said County and State, personally appeared
'D ow-, d A. le;A who proved to me on the basis of satisfactory evidence to be
the personal whose name(,s-)TOare subscribed to the within instrument and acknowledged to me
thate0she /they executed the same in Is her /their authorized capacity(j.&s); and that by
C19her /their signature(,sfion the instrument the person(; or the entity upon behalf of which the
person(oacted, executed the instrument.
I certify under PENALTY OF PERJURY underthe laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
M. LOCEY vt�—
Commissions 1864451 Notary Public
Notary Public - California
Orange County
M Comm. Ez ires Oct 7, 2013 r
EXHIBIT 66p11
LEGAL. DESCRIPTION OF THE PROPERTY
BACK BAY DRIVE TOGETHER WITH THAT PORTION OF PARCEL
MAP NO. 79 -704, IN THE CITY OF NEWPORT BEACH, 1 OF PARCEL'
CO
STATE OF CALIFORNIA, AS COUNTY OF ORANGE,
THROUGH 20, SHOWN ON MAP FILED IN BOOK 152, PAGES 17
INCLUSIVE, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY DESCRIBED AS ,A WHOLE AS FOLLOWS;
BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID BACK BAY DRIVE
36.00 FEETWIDE, AS SAID DRIVE IS SHOWN ON SAID PARCEL MAP 79_
704;. THENCE ALONG THE SOUTHWESTERLY LINE OF SAID BACK' BAY DRIVE
NORTH 25028121" WEST 310.03 FEET T; THENCE ALONG THE NORTHWESTERLY
LINE OF SAID BACK 'BAY DRIVE NORTH 64031139" EAST 36.00 FEET TO
THE MOST NORTHERLY CORNER OF SAID BACK BAY DRIVE, SAID CORNER
BEING ALSO A -POINT ON THE NORTHWESTERLY LINE OF SAID PARCEL 1
THENCE ALONG NORTHWESTERLY LINE NORTH 58034'15" EAST 105.00 FEET;
THENCE SOUTH 13016155" EAST 328.81 FEET TO A POINT ON THE
SOUTHEASTERLY LINE OF SAID PARCEL 11 THENCE ALONG THE
SOUTHEASTERLY LINE OF SAID PARCEL 1 AND SAID BACK BAY DRIVE
64054'330 WEST 71.00 FEET TO THE POINT OF BEGINNING. SOUTH
EXHIBIT "B"
COUNTY OF ORANGE p
rV CALIFORNIA 1 2, 3,
SITUATED IN THE STW , OF pARTICULARLY As LOTS
PROPERTY BEACH, DESCRIBED MORE 150, pAaEs I THROUGH a OF
CITY OF
NEWPORT 3 12309 RECORDED IN BOOK 5 F SAID coTJNTY-
AND 4 OF TRACT N( OFFICE OF THE COUNTY RECORDER 0
MAPS, IN THE