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HomeMy WebLinkAboutAgr 2012-12-06 (Eucmenical Association for Housing - Cecilia Place)2012-0078220 RECORDING REQUESTED BY: Town of Tiburon AND WHEN RECORDED MAIL TO: Recoraed I REU FEE ,27! Icial Recor e. ! Cuunty of Mar -in r i 4 .i~ FiD i~,L~dSU' i Assessor-Recorder L.cunty Clerk,. • it tl`l 13-Dee-2'01c I+~aQe I tlfi :l 0, 00 Town of Tiburon 1505 Tiburon Boulevard Tiburon, CA 94920 Attention: Town Clerk No fee for recording pursuant to Government Code Section 27383 AP # 034-351-15 THIS SPACE FOR RECORDERS USE ONLY AMENDMENT TO REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS CECILIA PLACE SENIOR HOUSING PROJECT 321 CECILIA WAY TIBURON, MARIN COUNTY, CALIFORNIA I OF 4 AMENDMENT TO REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS THIS AMENDMENT TO REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS, is made and entered into this (o4- day of 0 e c C (VX b 20 JJ, by and between the Town of Tiburon ("Town"), a municipal corporation that has assumed the housing functions of the Tiburon Redevelopment Agency "Agency"), and the Ecumenical Association for Housing ("EAH"), a California nonprofit public benefit corporation. SECTION 1. RECITALS. WHEREAS, on October 23, 1995, the Agency and EAH entered into a Regulatory Agreement and Declaration of Restrictive Covenants ("Agreement") regarding certain real property being developed by EAH with financial assistance from the Agency. Said Agreement was subsequently recorded on October 27, 1995 as serial number 1995-0051661 at Marin County Records, and the development was subsequently completed and occupied as affordable housing after qualifying for low income housing tax credits administered by the California Tax Credit Allocation Committee; and WHEREAS, Article 3, Section 3.1 of that Agreement required, among other things, EAH to obtain, complete, and maintain on file an annual income certification from each tenant renting a unit on the property; and WHEREAS, the enactment of the federal Housing and Economic Recovery Act of 2008, also known as HR 3221, resulted in changes to several provisions of the low income housing tax credit program, including the requirement for continuance of annual income by owners of 100% tax credit projects; and WHEREAS, EAH has requested amendment to the Agreement in order to implement the changes created by HR 3221, conform to the policies administered by the California Tax Credit Allocation Committee, and reduce compliance monitoring costs; and WHEREAS, the Agency was dissolved by statute effective February 1, 2012 and the Town has assume the Agency's housing functions. SECTION 2. AMENDMENT. NOW, THEREFORE, IT IS HEREBY AGREED by and between the parties as follows: All references to the "Tiburon Redevelopment Agency" shall mean the Town of Tiburon. All references to the "Agency" shall be changed to "Town." 2 OF 4 11. Article 3, Section 3.1 of the Regulatory Agreement and Declaration of Restrictive Covenants dated October 23, 1995 is amended to read as follows: 3.1 Income Certification. The Developer will require income certification as set forth in this section. a) The Developer will obtain, complete, and maintain on file, immediately prior to initial occupancy and on the first anniversary of initial occupancy, income certifications from each Tenant renting any of the Units in substantially the form approved by the Agency. For the initial occupancy and second year of occupancy verifications, the Developer shall make a good faith effort to verify that the income provided by the applicant or occupying household in an income certification is accurate by taking two or more of the following steps as part of the verification process: (a) obtain a pay stub for the most recent pay period; (b) obtain an income tax return for the most recent tax year; (c) conduct a credit agency or similar search; (d) obtain an income verification form from the applicant's current employer; (e) obtain an income certification form from the Social Security Administration and/or the California Department of Social Services if the applicant receives assistance from either of such agencies; or (f) obtain another form of independent verification. b) Prior to the second anniversary of initial occupancy and each anniversary thereafter, Developer shall obtain from each Tenant, and maintain on file, a certification of household income in substantially the form approved by the Agency. Copies of Tenant income certifications shall be available to the Agency upon request. IN WITNESS WHEREOF, the parties hereto have executed this Amendment to Agreement the day and year first above written. ECUMENICAL ASSOCIATION FOR HOUSING, a California nonprofit public benefit corporation By: ura Hall Its: Secretary 3OF4 TOWN OF TIBURON a Municipal Corporation and Successor Agency to the Tiburon Redevelopment Agency By: Margar A. Curran Its: Town Manger Approved as to Form: )Gn R. Danforth Town Attorney 4OF4 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California Marin County of On~~ ~~0 2z i Z before me, Date personally appeared L AtA CA ~A . Bohm, Notary Public Here Insert Name and Title of the Officer ' L L_ Name(s) of Signer(s) , who proved to me on the basis of satisfactory evidence to be the personk whose nameW is/are subscribed to the within instrument and acknowledged to me that -tV/she/they executed the same in Wher/they authorized P. BOHM D capacity(ieg), and that by Ws/her/tbeir signature(sy on the COMM. M50757 O •s NOTARY PUSUC-CAUFORWA d instrument the erson P (o, or the entity upon behalf of 4 MARIN COUNTY 0 which the erson p (fir} acted, executed the instrument. My Come Expires June 20,2M3 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 ' 1_~ Place Notary Seal Above Signature of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: T~ - A&&j T) Sam/ 4"A Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: L. AL t-V A «,R Signer's Name: ❑ Individual , ' ❑ Individual Corporate Officer -Title (s): e 5 c k o-W ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Partner - ❑ Limited ❑ General 2MICRA ❑ Attorney in Fac t ❑ Attorney in Fact ❑ Trustee Top of thumb here "thumb 1:1 Trustee Top ❑ Guardian or Conservator ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer Is Representing: 02007 National Notary Association- 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.NationalNotaryorg Item #5907 Reorder: Call Toll-Free 1-800-876-6827 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California j County of On before me, ! ~ntr c? l t~G'r'z. ~rc Date HereeIIngert Name and itle the Officer ' personally appeared DIANE CRANE IACOPI Commission 1840513 V_ Z a 0 Notary Public - California i Marin County M Comm. Expires Mar 15, 2013 E - - - - - - - - - - - - - - _ Place Notary Seal Above who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my ha n o fic' eal. ~ r Signature Signature of Notar lic OPTIONAL. Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title /o Type of Docyment: Document Date: oeo_ v Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: r~ ? ~ e- ❑ Individual ` Corporate Officer - Title(s): / e"A ❑ Partner - ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: A AD Wit, ~h Number of Pages: 6&v(?~4-Signer's Name: Individual ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General Signer Is Representing ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: ITop of thumb here ©2007 National Notary Association - 9350 De Soto Ave., PO. Box 2402 - Chatsworth, CA 91313-2402 - www.NationalNotary.org Item #5907 Reorder: Call Toll-Free 1-800-876-6827