RESOLUTION NO. SHA 2025-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, CALIFORNIA, ACTING SOLELY IN ITS CAPACITY AS THE LEGISLATIVE BODY OF THE SUCCESSOR HOUSING AGENCY TO THE FORMER SAN MARCOS REDEVELOPMENT AGENCY, AUTHORIZING A SECTION 33433 REPORT AND AN AMENDED AND RESTATED DEVELOPMENT AND LOAN AGREEMENT AMONG NCRC RICHMAR SENIOR VILLAGE LP, THE CITY OF SAN MARCOS AND THE CITY OF SAN MARCOS IN ITS CAPACITY AS THE SUCCESSOR HOUSING AGENCY TO THE FORMER SAN MARCOS REDEVELOPMENT AGENCY AND RELATED ACTIONS.
WHEREAS, the City Council of the City of San Marcos (“City”) serves as the legislative body of the Successor Housing Agency to the former San Marcos Redevelopment Agency (“SHA”) for purposes of handling the assets and obligations of the former San Marcos Redevelopment Agency (“RDA”) following its dissolution; and WHEREAS, as the legislative body of the SHA, the City Council takes action on post-redevelopment matters, and is responsible for decisions governing land previously owned by the RDA; and WHEREAS, the SHA and the City both have a state mandate to construct affordable housing; and WHEREAS, the SHA and NCRC Richmar Senior Village LP (f/k/a Richmar Station San Marcos, LP), a California limited partnership (“Developer”), previously entered into that certain Development and Loan Agreement (Richmar Station) dated as of August 11, 2015, which was amended by that certain Amendment to Development and Loan Agreement (Richmar Station-311 Pleasant Way) dated September 15, 2017, and by that certain Second Amendment to Development and Loan Agreement (Richmar Station-Kumar and Trapezoid) dated July 11, 2018 (as amended, the “Original DLA”); and WHEREAS, any capitalized terms not defined in this Resolution shall have the meanings set forth in the Amended and Restated Development and Loan Agreement attached to the Staff Report prepared for consideration of this transaction by the City Council acting as the legislative body of the City of San Marcos and the legislative body of the SHA at a duly noticed public hearing on Aril 8, 2025 ; and WHEREAS, the Developer, SHA and City desire to expand the inventory of affordable units and to continue with revitalization of the Richmar neighborhood, which will be provided by this proposed project, which will create 51 units of senior affordable housing, plus one unrestricted manager’s unit (collectively, the “Project”); WHEREAS, the Developer, SHA and City desire to: (1) amend and restate the Original DLA in its entirety in the form of the Amended and Restated Development and Loan Agreement attached to the Staff Report; (2) for the City to convey the City Phase 1 Property to the SHA; (3) for the Developer to convey the Developer Phase 1 Property to the SHA; (4) for the SHA to ground lease the Site to the Developer; (5) for the Developer to convey the SHA-Funded, Developer Properties to the SHA; (6) for the SHA to accept the SHA-Funded, Developer Properties as payment in full of the Prior SHA Loan; (7) for the SHA to make a $6,000,000.00, 3%, 55-year residual receipts loan to the Developer; and (8) for the Developer to construct the Project on the Site; and WHEREAS, the Successor Housing Agency to the former San Marcos Redevelopment Agency held a public hearing under Health & Safety Code Section 33433(a)(1) on __________, 2025, to consider approval of the Amended and Restated Development and Loan Agreement after publishing notice of said public hearing as specified in Government Code Section 6066; and WHEREAS, pursuant to Health & Safety Code Section 33433(a)(2), a consultant retained by the SHA prepared a Summary Report Pertaining to the Proposed Conveyance of Certain Real Property Interest within the Redevelopment Project Area dated March, 2025 (“33433 Report”), a copy of which was attached to the Staff Report and is incorporated fully into this Resolution; and WHEREAS, pursuant to Health & Safety Code Section 33433, the Successor Housing Agency to the former San Marcos Redevelopment Agency made copies of the Amended and Restated Development and Loan Agreement and 33433 Report available for public inspection and copying; and WHEREAS, pursuant to Health & Safety Code Section 33433, the Successor Housing Agency to the former San Marcos Redevelopment Agency duly considered all of the terms and conditions of the Amended and Restated Development and Loan Agreement and the information contained in the 33433 Report, and believes the Amended and Restated Development and Loan Agreement is in the best interest of the City of San Marcos and the health, safety, morals, and welfare of its residents, and is in accordance with the public purposes and provisions of applicable state and local law and requirements.
NOW, THEREFORE, BE IT RESOLVED, by the Successor Housing Agency to the former San Marcos Redevelopment Agency, as follows:
1. The foregoing recitals are true and correct and are incorporated into this Resolution by this reference.
2. The Amended and Restated Development and Loan Agreement attached to the Staff Report is hereby approved and the City Manager, acting as the executive director of the SHA, is authorized to execute and deliver the Amended and Restated Development and Loan Agreement.
3. The City Manager, acting as the executive director of the SHA, is authorized to accept conveyance of the City Phase 1 Property to the SHA.
4. The City Manager, acting as the executive director of the SHA, is authorized to accept conveyance of the Developer Phase 1 Property and the SHA-Funded, Developer Properties to the SHA.
5. The SHA is authorized to ground lease the Site to the Developer for a term of 99 years.
6. The SHA is authorized to make a $6,000,000.00, 3%, 55-year residual receipts loan to the Developer.
7. The Section 33433 Report has been duly considered and reviewed and is hereby approved.
8. The City Manager, acting as the executive director of the SHA, is authorized to execute all documents and instruments that are necessary and/or appropriate to implement these approvals and to take all actions necessary and/or appropriate to implement these approvals.
PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS acting in its capacity as the legislative body of the Successor Housing Agency at a regular meeting held on the 8th day of April, 2025, by the following roll call vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
______________________________
Rebecca D. Jones, Chair of the Board
Successor Housing Agency to the Former San
Marcos Redevelopment Agency
Attest:
______________________________
Phillip Scollick, Board Clerk
Resolution No. 2025- XYXY