Resolution 10260ORIGINAL
CITY OF ALAMEDA RESOLUTION NO. 10260
APPROVING TENTATIVE MAP FOR TRACT 4659, A RESIDENTIAL
DEVELOPMENT ON BAY FARM ISLAND SOUTH OF OLEANDER DRIVE
BETWEEN MELROSE AVENUE AND MAGNOLIA DRIVE (E. J. PARISH
ORGANIZATION AND KEN H. EARP, SUBDIVIDERS)
WHEREAS, E. J. Parish Organization and Ken H. Earp, sub-
dividers herein, have presented to the Council for approval a
Tentative Map for Tract 4659, a residential development of
property on Bay Farm Island located between Melrose Avenue and
Magnolia Drive;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA that pursuant to Section 11-3112 of the Alameda
Municipal Code, the Tentative Map for Tract 4659, heretofore
accepted and approved by the Planning Board of the City of
Alameda, is hereby approved, based upon the findings and subject
to the conditions contained in said Board's Resolution No. 1381,
revised as follows:
1. Condition No. 11 in said Resolution No. 1381 is amended
to read:
11. No less than six (6) properties (lot with house)
shall be sold to moderate income families at a price set at
twenty percent (20%) under market value. Each prospective
purchaser, family or household shall be screened and approved
for eligibility under this condition by the City of Alameda
or its agent prior to completion of each respective sale and
resale.
Any deed or other document transferring title to those six
or more properties shall, in the original sale and any resales,
contain a covenant stating that any sale price of the property
within 20 years following the first sale of that respective
property shall not exceed (1) the original sale price or there-
after, the sale price paid by the current owner/seller, plus
(2) non-recurring costs paid through escrow by the owner/seller
when purchasing the property, plus (3) the total of paid or
unpaid homeowners association fees and assessments for the
respective ownership period plus, (4) the actual cost or the
fair market value, whichever is greater, of all capital im-
provements made to the property by the owner/seller, plus (5)
a total percentage of appreciation in the total of items (1)
through (4) equal to the percentage increase in the Consumer
Price Index for the San Francisco/Oakland Metropolitan Area
between the quarter of the year in which the owner/seller pur-
chased the property and the quarter of the year in which the
owner/seller offers the property for sale, plus (6) an additional
appreciation equal to one quarter of one percent (.25 %) for
each full three months elapsed since the owner /seller purchased
the property and the month in which the owner /seller later
offers the property for sale, and applied to the total appre-
ciated price derived in accordance with Item 5 herein.
The deed or document transferring title to those six properties
shall, in the original sale and any resales, specify that the
seller shall notify the City of Alameda, or its agent, to
provide a qualified and eligible purchaser, and in the case
of resales that the City of Alameda has a first right of refusal
to purchase the property at a price determined by the formula
in the paragraph above.
All sales of the respective six properties within the 20 year
period shall include a declaration by the purchaser(s), that
the purchaser(s) agree(s) to and shall occupy the respective
property within 45 days after transfer of the title to the
purchaser, excepting therefrom, any beneficiary under a deed
of trust or mortgage obtaining title through foreclosure.
Purchasers /owners of the six "affordable" properties shall
pay their respective homeowner's association dues or assessments
in the same manner and amount as other homeowners within the
subdividion.
2. Condition No. 12 in said Resolution No. 1381 is amended
to read:
12. Landscaping in front yards, and sideyards adjoining
streets, shall be installed by the developer in conformance
with a landscape plan submitted to and approved by the City
Planning Director. Conditions, Covenants and Restrictions
for the subdivision shall provide for exterior building, roof
and landscape maintenance by individual homeowners; however,
where such maintenance is not properly performed by the home-
owner the CC &R's shall include provisions for the Homeowner's
Association to perform the necessary maintenance and to lien
the property for the cost thereof.
3. Condition No. 13 in said Resolution No. 1381 is amended
to read:
13. The City shall be reimbursed for its costs of
establishing and making the improvements in Assessment District
81 -1 and should be reimbursed prior to approval of building
permits or subdivision improvements.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 6th of March, 1984,
by the following vote to wit:
AYES: Councilmembers Gorman, Hanna and President Diament - 3.
NOES: Councilmembers Lucas and Monsef - 2.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 7th day of March, 1984.
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