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RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
City of Corona
400 S. Vicentia Avenue
Corona, CA 92882
Attn: Planning & Development Director
APNs: 120-020-022 SPACE ABOVE FOR RECORDER'S USE ONLY
EXEMPT FROM RECORDING FEE PER
GOVERNMENT CODE §27383 AND §27388.1(a)(2)(D)
CITY OF CORONA
DENSITY BONUS HOUSING AGREEMENT - FOR-SALE HOUSING
WITH CONCORD ASSOCIATES, LP
(2501 GARRETSON AVENUE, CORONA CA 92880)
CMC CHAPTER 17.87
1. PARTIES AND DATE.
This Density Bonus Housing Agreement (“Agreement”) is made and entered into this 18th day of September, 2024 (“Effective Date”) by and between the City of Corona, a municipal corporation organized under the laws of the State of California with its principal place of business at 400 South Vicentia Avenue, Corona, California 92882 (“City”) and Concord Associates, L.P., a California limited partnership with its principal place of business at 3090 Pullman Street, Costa Mesa, CA 92626 (“Owner”). City and Owner are sometimes individually referred to as “Party” and collectively as “Parties” in this Agreement.
2. RECITALS.
2.1 Owner. Owner is the owner in fee of certain real property located at 2501 Garretson Avenue, Corona, in Riverside County, California, and designated as Assessor Parcel Number(s) 120-020-022, as described and depicted in Exhibit “A” attached hereto and incorporated herein by reference (“Property”).
2.2 Housing Development Project. Owner proposes to construct and operate a Housing Development, as that term is defined in Corona Municipal Code (“CMC”) Section
17.87.020, on the Property consisting of thirty-five (35) dwelling units (“Residential Units”), which will be known as Garretson Development project (“Project”).
2.3 Density Bonus Law. Under Government Code Section 65915 et seq. (“State Density Bonus Law”) and CMC Chapter 17.87, the City must, upon the request of an applicant, grant a density bonus and/or certain incentives/concessions or waivers/modifications for any development applicant that seeks and agrees to construct a minimum number of residential units that are affordable to moderate, lower and/or very low income households. 2 (CITY ATTY: 05-24)
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2.4 Project Entitlements. The City Council’s approval of the Project includes the following entitlements:
(a) density bonus of seven (7) for-sale units (“Density Bonus”) over the Project’s base density of twenty-eight (28) for sale units;
(b) waivers from the following:
(i) CMC § 17.11.060 to reduce the minimum 20,000 square foot lot area requirement in the R-1-20 zone to 19,674 square feet for Lot 1 and 7,350 to 8,583 square feet for Lots 17 thru 21 and 33 thru 35; (ii) CMC § 17.20.060 to reduce the minimum 14,400 square foot lot area requirement in the R-1-14.4 zone to 7,350 to 12,091.91 square feet for Lots 6 thru 16 and 22 thru 32;
(iii) CMC § 17.11.070 (A) to reduce the minimum 100-foot lot width requirement to 70 to 75 feet for Lots 17 thru 21 and 33 thru 35; (iv) CMC § 17.20.070 (A) to reduce the minimum 90-foot lot width requirement to 70 to 80.7 feet for Lots 6 thru 16 and 22 thru 32. (v) CMC § 17.11.070(B) to reduce the minimum 150-foot lot depth requirement to 110.36 feet for Lot 1, to 105 feet for Lots 17, 18 and 33 thru 35, and to 110 feet for Lots 19 thru 21;
(vi) CMC § 17.11.100(B)(1) to reduce the minimum 25-foot front yard setback requirement to 20 feet for Lot 1 and 15 feet for Lots 17, 18, 19, 20, 21 and 33 thru 35;
(vii) CMC § 17.20.100(B)(1) to reduce the minimum 25-foot front yard setback requirement to 16 feet for Lots 6 and 8, 15 feet for Lots 7, 9, 11 thru 16, 22 thru 27, and 29 thru 32; 8.34 feet for Lot 28; and 20 feet for Lots 2 thru 4;
(viii) CMC § 17.11.100(C)(1) to reduce the minimum 10-foot side yard setback requirement on one side to 5 feet for Lots 21 and 34 and to 8 feet for Lots 17, 20 and 33;
(ix) CMC § 17.20.100(C)(1) to reduce the minimum 10-foot side yard setback requirement on one side to 5 feet for Lots 8, 23, 27, 30 and 32; and 8 feet for Lots 6, 7, 9, 11-16, 22, 24-26, and 31 ; (x) CMC § 17.11.100(C)(2) to reduce the minimum corner (siding a local street) 15-foot side yard setback requirement to 10 feet for Lots 19 and 35;
(xi) CMC § 17.20.100(C)(5) to reduce the minimum 25-foot street side yard setback requirement for reverse corner lots to no less than
9.46 feet for Lot 28 and 18.54 feet for Lot 26;
(xii) CMC § 17.11.120 to increase the maximum 30 percent lot area coverage requirement for two-story buildings or structures to 35 percent for Lots 18, 21, 33 and 34;
(xiii) CMC § 17.20.120 to increase the maximum 30 percent lot area coverage requirement for two-story buildings or structures to 35 percent for Lots 7, 8, 9, 12, 14, 16, 23, 27, 30, 31, and 32; 3 (CITY ATTY: 05-24)
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(xiv) CMC § 17.04.358(A) to reduce the minimum 20,000 square foot flag lot area requirement to no less than 12,091.91 square feet for Lot 10;
(xv) City’s Residential Design Guideline § 4.1.B.5.a to reduce the minimum 15-foot garage setback requirement from the front of the dwelling to 2 feet and to eliminate this requirement from Plans 2 and 2R, where the one-car garage extends past the front of the primary structure;
(xvi) City’s Residential Design Guideline § 4.2.B.8, regarding the plotting of homes to avoid the placement of two, two-story elements directly adjacent to one another, to allow two, two-story elements to be directly adjacent to one another and to not “flip” any plans for Lots 6 through 35;
(xvii) City Standard Plan Number 110 (Private Residential Street), to reduce the minimum overall right-of-way width for the private street from 56 feet to 46 feet, to include 36 feet of roadway width, measured from curb to curb, and a five-foot wide sidewalk (including a six-inch curb) on both sides of the street. The 36-foot roadway width shall allow for on-street parking along one side of the street;
(xviii) CMC § 17.04.358 to reduce the minimum 80-foot access corridor depth requirement for a flag lot to a depth of 43 feet for Lot 10; (xix) CMC § 16.08.020, to reduce the minimum 45-foot lot width requirement measured at the curb line between the property line prolongations for lots on knuckles or curved streets to no less than
27.43 feet for Lot 5 and 30.56 feet for Lot 11; and
(c) Precise Plan (PP2023-0009), Affordable Housing Density Bonus (AHDB2023-0001) and Tentative Tract Map (TTM 38495) dated [***INSERT DATE****].
2.5 Density Bonus Units. In order to qualify for the State Density Bonus Law and CMC Chapter 17.87, Owner has agreed to sell two (2) of the Residential Units on the Property to Qualifying Households (as defined below) at an Affordable Housing Cost (as defined in CMC
17.87.020).
2.6 Agreement. City and Owner desire to enter into this Agreement in accordance with the State Density Bonus Law and CMC Chapter 17.87 to ensure that the Owner will construct and operate the Project in a manner that will ensure the provision of the required Affordable Units in exchange for the Density Bonus.
3. TERMS.
3.1 Recitals. The Recitals set forth above are true and accurate, and incorporated herein.
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3.2 Definitions. For purposes of this Agreement, all defined terms, as indicated by initial capitalization, shall have the meanings set forth in CMC Chapter 17.87, except as expressly indicated otherwise herein. Additionally, the terms listed below shall have the meanings thereafter specified:
3.2.1 Affordable Unit(s). The two (2) dwelling unit(s) that will be offered for sale exclusively to a Qualifying Household at an Affordable Housing Cost pursuant to this Agreement.
3.2.2 CMC. The Corona Municipal Code.
3.2.3 Density Bonus. The density bonus granted to the Project through the Project Approvals, as more specifically described in Section 2.4 of this Agreement.
3.2.4 Director. The Planning and Development Director for the City of Corona or his or her designee.
3.2.5 Occupancy Date. The date the Purchaser Covenant, as more specifically described in Section 3.7, is first recorded against the Affordable Unit.
3.2.6 Project. The Project, as defined in Section 2.2 includes all required or associated on-site and off-site improvements, hardscape improvements, parking areas and landscaping improvements to the Property, in accordance with the Project Approvals, the plans and specifications approved by the City, any conditions imposed by the City in issuing the Project Approvals and any other development entitlements related to the Project and applicable law.
3.2.7 Project Records. Information regarding sales price, principal residency requirement, occupancy status, household and income characteristics of purchasers of the Affordable Units, including Income Certification Forms completed by purchasers of the Affordable Units pursuant to Section 3.7.2 of this Agreement.
3.2.8 Project Approvals. As described in Section 2.4 of this Agreement.
3.2.9 Property. That certain real property located within the City of Corona, County of Riverside, State of California, specifically described in the legal description attached as Exhibit "A" to this Agreement, which is incorporated into this Agreement by this reference.
3.2.10 Qualifying Household. A household that: (1) resides or intends to reside in one of the Affordable Units on the Property; and (2) whose income does not exceed the maximum income allowable for a Very Low Income Household, as applicable to the Affordable Unit described in Exhibit “B”.
3.2.11 State Density Bonus Law. Chapter 4.3 of Division 1 of Title 7 of the California Government Code (Gov’t Code §§ 65915 et seq.). 5 (CITY ATTY: 05-24)
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3.2.12 Term. For each Affordable Unit, the period of forty-five (45) years from the Occupancy Date.
3.3 Identification of Affordable Units. The Affordable Units shall be those described in Exhibit “B” attached hereto and incorporated herein by reference. The identification of the Affordable Units shall not be changed without the prior written approval of the Director.
3.4 Construction of Affordable Units. The Affordable Units shall be constructed concurrently with or prior to the other Residential Units in the Project, and the Owner shall not receive certificates of occupancy for more than twenty percent (20%) of the market rate Residential Units in the Project, if any, unless and until certificates of occupancy are issued for at least fifty percent (50%) of all of the Affordable Units, and shall not receive certificates of occupancy for more than seventy percent (70%) of the market rate Residential Units in the Project, if any, unless and until certificates of occupancy are issued for the remaining fifty percent (50%) of the Affordable Units. The Affordable Units shall be dispersed throughout the Project. Owner shall provide the Affordable Units with the same levels of services and maintenance as is provided to the other Residential Units in the Project.
3.5 Reservation of Affordable Units for Affordable Housing.
3.5.1 Qualifying Households Only. Owner covenants and agrees to reserve and restrict the Affordable Units for the Term for the purchase, use and residential occupancy of those who, at the time of initial sale and continuously thereafter (subject to the other provisions of this Agreement), is a Qualifying Household.
3.5.2 Affordable Housing Cost. Owner covenants and agrees, for the benefit of City, that during the Term the Affordable Units shall only be sold to Qualifying Households at an Affordable Housing Cost.
3.5.3 Rental of Affordable Units. Rental of the Affordable Units is prohibited unless the proposed tenant qualifies as a Qualifying Household.
3.5.4 No Transient Uses. Notwithstanding Section 3.5.3, the Affordable Units shall not be used on a transient basis and shall not be leased or rented for a period of less than twelve (12) months. The Affordable Units will not, at any time, be leased or rented for use as a hotel, motel, time share, dormitory, fraternity house, sorority house, rooming house, hospital, nursing home, sanitary or rest home.
3.5.5 Utilization of Affordable Units. No Affordable Unit shall be withdrawn from the market or otherwise held vacant during the Term.
3.6 Purchaser Selection and Income Verification.
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3.6.1 Purchaser Selection Policies and Criteria. The Owner shall adopt written purchaser selection policies and criteria applicable to the Affordable Units, which shall be subject to the approval of the Director and that:
(a) are consistent with the purpose of providing affordable housing for Qualifying Households at an Affordable Housing Cost;
(b) give first priority to Qualifying Households who reside, work, go to school or have family in the City of Corona;
(c) provide for the selection of purchasers from a written waiting list in the chronological order of their application, insofar as is practicable; (d) give prompt written notice to any rejected applicant of the grounds for rejection;
(e) except as provided in subsection (b) above, do not give preference to any particular class or group of persons except to the extent that the purchaser must be a Qualifying Household;
3.6.2 Determination of Household Income. Determination of Qualifying Household income shall be made by Owner at the time of initial application by an individual or family for purchase of each of the Affordable Units. At the time of initial application, Owner shall require an applicant to complete an income certification form in a form as approved by the Director (the “Income Certification Form”) and certify the accuracy of the information provided on such form.
3.6.3 Verification. Owner shall make a good faith effort to verify the accuracy of income information provided in any Income Certification Form by an applicant for purchase of the Affordable Unit by taking one or more of the following steps, as reasonably required or indicated:
(a) Obtain an income tax return and copy of each W2 Wage and Earnings Statement for the most recently concluded income tax year; (b) Contact a credit reporting agency or conduct a similar search; (c) Obtain an income verification form from the Qualifying Household's current employer(s);
(d) Obtain an income verification form from the United States Social Security Administration or the California Department of Social Services, if the applicant or the Qualifying Household receives assistance from either of such agencies; or (e) If the applicant or an adult member of a Qualifying Household is unemployed and has no such income tax return, obtain another form of independent verification. 7 (CITY ATTY: 05-24)
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3.6.4 Evidence. For purposes of this Section, Owner may conclusively rely upon the evidence of the age of a person as presented in a valid California Driver's License or other form of identification issued by the State of California or the United States Government that includes a date of birth and a photograph of the subject person. All such verification information shall only be obtained by Owner after obtaining the Qualifying Household's written consent for the release of such information to Owner. Failure to consent in writing to the release of such income verification information to Owner may disqualify the Qualifying Household for purchase of an Affordable Unit.
3.6.5 Equivalent Purchase Terms. Owner shall apply the same purchase terms and conditions to potential purchasers of the Affordable Units as are applied to all other purchasers of Residential Units within the Project, except as otherwise required to comply with this Agreement (i.e., income requirements) and/or government subsidy programs.
Discrimination based on subsidies received by the potential purchaser of an Affordable Unit is prohibited.
3.7 Purchaser Covenant Restricting Sale of Affordable Units. Prior to the close of escrow for each Affordable Unit, Owner shall require the purchaser of the Affordable Unit, for itself, its successors, assignees and affiliates, to execute a covenant or agreement, in a form approved by the Director (“Purchaser Covenant”), that includes the following provisions:
3.7.1 Incorporation of Density Bonus Housing Agreement. The Purchaser Covenant shall incorporate each and every provision of this Agreement, either expressly or by reference.
3.7.2 Future Sales of Affordable Units. The Purchaser Covenant shall expressly state that during the Term, the Affordable Unit shall only be sold or resold to Qualifying Households at an Affordable Housing Cost in accordance with CMC Chapter 17.87 and the State Density Bonus Law.
3.7.3 Right of First Refusal. The Purchaser Covenant shall provide that when the Term has expired, the then-current owner of the Affordable Unit shall offer the City and/or a non-profit housing organization the right of first refusal to purchase the Affordable Unit for a minimum of sixty (60) days prior to offering the Affordable Unit for sale, transfer or assignment to any other person or entity.
3.7.4 Recordation. The Purchaser Covenant shall be recorded against the Affordable Unit prior to the close of escrow for the initial sale of the Affordable Unit. The Purchase Covenant shall be subordinate only to the grant deed conveying the Affordable Unit to the purchaser and any conventional first mortgage obtained by Purchaser.
3.8 Ineligible Purchasers. Owner shall not sell an Affordable Unit to any person with any family relationship to Owner or who owns, directly or indirectly, any interest in the Project or the Property. For purposes of this section, indirect ownership by an individual shall mean ownership by a family member, ownership by a corporation, partnership, estate or trust in 8 (CITY ATTY: 05-24)
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proportion to the ownership or beneficial interest in such corporation, partnership, estate or trust held by the individual or a family member, and ownership, direct or indirect, by a partner of the individual.
3.9 Retention of Project Records. The Owner shall prepare and maintain complete and accurate Project Records for so long as this Agreement remains in effect. The Owner shall, at all times following the initial sale of the Affordable Units, maintain, safe and intact, all of the Project Records for a period of not less than six (6) years from the generation of such Project Records. From time to time, upon request from the City, the Owner shall make all Project Records, whether in the custody or control of the Owner or its Affiliates, available to the City, the City’s auditor, representative or agent for examination and copying at any reasonable time, on fifteen (15) calendar days advance notice.
3.10 Federal and State Laws. Notwithstanding anything herein to the contrary, nothing contained herein shall require Owner or City to do anything contrary to or refrain from doing anything required by federal and state laws or regulations applicable to the construction, management, maintenance, and sale of low and very low income housing units in the City of Corona.
3.11 Prohibition Against Discrimination. Owner shall not discriminate against any Qualifying Household or potential tenant on the basis of sex, color, race, religion, ancestry, national origin, age, pregnancy, marital status, family composition, sexual orientation, or the potential or actual occupancy of minor children. Owner further agrees to take affirmative action to ensure that no such person is discriminated against for any of the above mentioned reasons.
3.12 Indemnification. Owner shall defend, indemnify and hold harmless City and its officers, agents, employees, representatives, and volunteers (collectively, “Indemnitees”) from and against any loss, liability, claim or judgment relating in any manner to this Agreement.
Owner shall not be required to indemnify and hold harmless Indemnitees for liability attributable to the active negligence or willful misconduct of Indemnitees, provided such active negligence is determined by agreement between the parties or by the findings of a court of competent jurisdiction. In instances where an Indemnitee is shown to have been actively negligent and where Indemnitees’ active negligence accounts for only a percentage of the liability involved, the obligation of Owner will be for that entire portion or percentage of liability not attributable to the active negligence of Indemnitees.
3.13 City’s Right to Inspect Affordable Units and Documents. City may inspect the Affordable Units during normal business hours, upon 48 hours’ notice, for so long as this Agreement remains in effect, to determine Owner’s compliance with this Agreement.
3.14 Agreement to be Recorded; Covenants Run with the Land; Priority. This Agreement shall be recorded within ten (10) days of the Effective Date in the Official Records of Riverside County, California, as senior, non-subordinate covenants and as an encumbrance running with the land for the full Term of this Agreement and shall pass to and be binding upon Owner and all parties having any interest in the Affordable Units for the benefit of City and Qualifying Households. In no event shall this Agreement be made junior or subordinate to any 9 (CITY ATTY: 05-24)
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deed of trust or other documents providing financing for the construction or operation of the Project, or any other lien or encumbrance whatsoever for the entire Term of this Agreement except as provided in Section 3.7.4. Nor shall this Agreement be made junior or subordinate to any extension, amendment, or modification of any lien or encumbrance recorded against the Property prior to the date hereof. Prior to recordation of this Agreement, Owner shall provide City with evidence satisfactory to the City that all deeds of trust, liens, encumbrances, or other documents recorded against the Property prior to the Effective Date have been or will be subordinated to this Agreement, at Owner’s sole cost and expense. Each and every contract, deed, lease or other instrument covering, conveying or otherwise transferring the Property or any interest therein, as the case may be (each a “Contract”), shall conclusively be held to have been executed, delivered and accepted subject to this Agreement regardless of whether the other party or parties to such Contract have actual knowledge of this Agreement.
3.15 Default. Failure or delay by either Party to perform any term or provision of this Agreement, which is not cured within thirty (30) days after receipt of notice from the other Party, constitutes a default under this Agreement. The party who so fails or delays must immediately commence to cure, correct or remedy such failure or delay, and shall complete such cure, correction or remedy with due diligence. The injured party shall give written notice of default to the Party in default specifying the default complained of by the injured Party. Except as required to protect against further damages, the injured Party may not initiate proceedings against the Party in default until thirty (30) days after giving such notice. Failure or delay in giving such notice shall not constitute a waiver of any default, nor shall it change the time of default.
3.16 Remedies.
3.16.1 All Remedies Available. A default hereunder shall give the nondefaulting Party the right to proceed with any and all remedies available at law or equity. Such remedies may include an action for damages, an action or proceeding for specific performance, and/or an action or proceeding for injunctive relief. Such actions or proceedings may require the defaulting Party to pay damages, to perform its obligations and covenants under this Agreement, and to enjoin or cease and desist from acts which may be unlawful or in violation of the provisions of this Agreement.
3.16.2 Revocation of Permits. City may institute any appropriate legal actions or proceedings necessary to ensure compliance with this Agreement, including but not limited to:
(a) Actions to revoke, deny or suspend any permits and/or certificate of occupancy; and
(b) Actions for injunctive relief or damages.
3.16.3 Municipal Code Violation. It is agreed and understood that the covenants to maintain the Affordable Units as set forth herein are a requirement of CMC Chapter 17.87 and as a condition to receiving the Density Bonus and the concessions and waivers described in Section 2.4 of this Agreement, Owner agrees that a breach of the covenants to maintain the 10 (CITY ATTY: 05-24)
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Affordable Units for the Term constitutes a violation of the CMC, subject to enforcement by all legally available means.
3.16.4 Excessive Sale Price. It shall constitute a default for the Owner to charge or accept for any Affordable Unit a sale price in excess of the Affordable Housing Cost, to fail to sell an Affordable Unit to a Qualifying Household as required by Section 3.5 of this Agreement, or to otherwise sell an Affordable Unit to a purchaser that does not qualify as a Qualifying Household.
3.17 Expiration of Density Bonus. The Density Bonus permitted by this Agreement shall be implemented and utilized within twenty-four (24) months of the Effective Date or within the time limit that applies to the other Project Approvals, whichever is longer (“Density Bonus Deadline”). If the Density Bonus is not implemented and utilized by the Density Bonus Deadline, the Density Bonus and this Agreement shall become null and void and of no further force or effect unless Owner submits an application requesting an extension prior to the Density Bonus Deadline, which extension may be approved by the Director upon a finding of unavoidable delay.
3.18 General Provisions.
3.18.1 Delivery of Notices. All notices permitted or required under this Agreement shall be given to the respective Parties at the following address, or at such other address as the respective Parties may provide in writing for this purpose:
Owner:
Concord Associates, L.P.
3090 Pullman Street
Costa Mesa, CA 92626
Contact: Joe Oftelie
City:
City of Corona
400 South Vicentia Avenue
Corona, CA 92882
Attn: Planning & Development Director
Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. Mail, first class postage prepaid and addressed to the Party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service.
3.18.2 Governing Law; Government Code Claim Compliance. This Agreement shall be governed by the laws of the State of California. Venue shall be in Riverside County.
3.18.3 Time of Essence. Time is of the essence for each and every provision of this Agreement.
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3.18.4 No City Responsibility for Project. City shall have no responsibility for the construction, installation, management, operation or maintenance of the Project.
3.18.5 Successors and Assigns. This Agreement shall be binding on the successors and assigns of the Parties.
3.18.6 Amendment; Modification. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.
3.18.7 Waiver. No waiver of any default shall constitute a waiver of any other default or breach, whether of the same or other covenant or condition. No waiver, benefit, privilege, or service voluntarily given or performed by a Party shall give the other Party any contractual rights by custom, estoppel or otherwise.
3.18.8 Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.
3.18.9 Cooperation; Further Acts. The Parties shall fully cooperate with one another, and shall take any additional acts or sign any additional documents as may be necessary, appropriate or convenient to attain the purposes of this Agreement.
3.18.10 Attorney’s Fees. If either Party commences an action against the other Party, either legal, administrative or otherwise, arising out of or in connection with this Agreement, the prevailing Party in such litigation shall be entitled to have and recover from the losing Party reasonable attorney’s fees and all other costs of such action.
3.18.11 Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original.
3.18.12 Entire Agreement. This Agreement contains the entire Agreement of the Parties with respect to the subject matter hereof, and supersedes all prior negotiations, understandings or agreements. This Agreement may only be modified by a writing signed by both Parties.
3.18.13 Enforcement. City shall have the power to enforce this Agreement and no other person or entity shall have any right or power to enforce any provision of this Agreement on behalf of City, or to compel City to enforce any provision of this Agreement against Owner, the Project, the Property or any Residential Unit, including the Affordable Units. [SIGNATURES ON NEXT 2 PAGES]
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CITY’S SIGNATURE PAGE FOR
CITY OF CORONA
DENSITY BONUS HOUSING AGREEMENT – FOR-SALE HOUSING
WITH CONCORD ASSOCIATES, LP
(2501 GARRETSON AVENUE, CORONA CA 92880)
CMC CHAPTER 17.87
IN WITNESS WHEREOF, the Parties have entered into this Agreement as of the date first written above.
CITY OF CORONA
By: _________________________
Jacob Ellis
City Manager
Attest:
_________________________
Sylvia Edwards
City Clerk
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OWNER’S SIGNATURE PAGE FOR
CITY OF CORONA
DENSITY BONUS HOUSING AGREEMENT – FOR-SALE HOUSING
WITH CONCORD ASSOCIATES, LP
(2501 GARRETSON AVENUE, CORONA CA 92880)
CMC CHAPTER 17.87
IN WITNESS WHEREOF, the Parties have entered into this Agreement as of the date first written above.
CONCORD ASSOCIATES, L.P.
a California limited partnership
By: _________________________
Mike Riddlesperger
Chief Financial Officer
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EXHIBIT “A”
LEGAL DESCRIPTION AND DEPICTION
OF THE PROPERTY
Real property in the City of Corona, County of Riverside, State of California, described as follows:
PARCEL AS DESCRIBED ON LOT LINE ADJUSTMENT NO. 95-21, AS EVIDENCED BY DOCUMENT RECORDED FEBRUARY 05, 1996 AS INSTRUMENT NO. 042315 OF OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
LOT 182 OF DIVISION NO. 1 OF AMENDED MAP OF ORANGE HEIGHTS, AS SHOWN ON A MAP RECORDED IN BOOK 2, PAGE 1 OF MAPS, RECORDS OF RIVERSIDE COUNTY, IN THE CITY OF CORONA, STATE OF CALIFORNIA;
TOGETHER WITH, THAT PORTION OF SAID LOT 177 OF SAID DIVISION NO. 1 OF
AMENDED MAP OF ORANGE HEIGHTS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT AT THE MOST NORTHWESTERLY CORNER OF SAID LOT 177;
THENCE SOUTHEASTERLY ALONG THE NORTHEASTERLY LINE OF SAID LOT 177, SOUTH 66° 45' 00” EAST, A DISTANCE OF 1.56 FEET;
THENCE SOUTHWESTERLY LEAVING SAID NORTHEASTERLY LINE OF LOT 177, SOUTH 31° 00' 18” WEST, A DISTANCE OF 108.47 FEET TO A POINT ON THE NORTHWESTERLY LINE OF SAID LOT 177;
THENCE NORTHEASTERLY ALONG SAID NORTHWESTERLY LINE OF LOT 177, NORTH 30° 11' 10" EAST, A DISTANCE OF 108.28 FEET TO THE POINT OF BEGINNING.
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EXHIBIT “B”
IDENTIFICATION OF AFFORDABLE UNITS
The Affordable Units subject to this Agreement are indicated in the table below. The Address or Lot Number in the table corresponds to the dwelling unit depicted in the Project floor plans on file with the City’s Planning and Development Department as of July 17, 2024.
NUMBER OF UNITS AND
UNIT TYPE
ADDRESS OR LOT
NUMBER
ELIGIBLE INCOME GROUP
Two (2) Four-Bedroom #14
#27
Very Low Income
Total: Two (2) Affordable Units