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Home My WebLink AboutReso 132-10 Positano Afford House AgmtRESOLUTION NO. 132 - 10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN ****~******~ APPROVING AMENDMENT NO. 7 TO THE AFFORDABLE HOUSING AGREEMENT FOR FIRST PHASE (416 UNITS) OF POSITANO TO MODIFY THE TYPES OF INCLUSIONARY UNITS WITHIN THE FIRST PHASE OF THE PROJECT (PA 05-038 AN D PA 07-005) WHEREAS, Dublin RE Investors, LLC (the Developer) is the owner of two parcefs of land within Fallon Village which together are known as Positano and consists of 1,043 residential units; and WHEREAS, an Affordable Housing Agreement is required by the Inclusionary Zoning Regulations of City of Dublin Zoning Ordinance (Chapter 8.68); and WHEREAS, the Developer proposed a comprehensive affordable housing proposal to address the requirements of the Inciusionary Zoning Ordinance for the entire Pos"stano development and said proposal includes alternative methods of compliance with the Inclusionary Zoning Regulations; and WHEREAS, the City Council held a public meeting on October 18, 2005, to review the affordable housing proposal, and the City Council directed Staff to work with the Developer to refine the affordable housing proposal; and WHEREAS, the City and the Developer subsequently entered into an Affordable Housing Agreement for the Construction of Inclusionary Units in the First Phase of the Positano development, dated June 5, 2007, as amended on June 17, 2008, November 4, 2008, June 16, 2009, October 20, 2009, January 2010, and March 25 2010, ("the First Phase Agreement"), wherein the Developer agreed to construct a total of 52 affordable units (11 single-family detached homes and 41 secondary units); and WHEREAS, the First Phase Agreement specifies the level of affordability (moderate- income, low-income, and very low-income units are proposed), the location of the required detached and secondary units, and the phases of the Project within which the affordable units must be completed; and WHEREAS, the City and Developer are parties to a subsequent Affordable Housing Agreement to satisfy the affordable housing obligation for future phases of Positano; and WHEREAS, Braddock and Logan, on behalf of Dublin RE Investors, LLC (the Developer) has requested an amendment to the First Phase Agreement to modify the types of inclusionary units within the First Phase of the Project; and WHEREAS, the Project has been found to be Categorically Exempt from the California Environmental Quality Act (CEQA); and Page 1 of 2 WHEREAS, a Staff Report dated August 17, 2010, and incorporated herein by reference, described and analyzed the proposed amendment to the Affordable Housing Agreement; and WHEREAS, the City Council did use its independent judgment and consider all said reports, recommendations and testimony. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby approve Amendment No. 7 to the Affordable Housing Agreement for the First Phase (416 units) of Positano attached hereto as Exhibit A. BE IT FURTHER RESOLVED that the City Manager is authorized to execute Amendment No. 7to the Affordable Housing Agreement attached hereto as Exhibit A including the accompanying memorandum of the agreement. PASSED, APPROVED AND ADOPTED this 17th day of August 2010, by the following vote: AYES: Councilmembers Biddle, Hart, Hildenbrand, Scholz, and Mayor Sbranti NOES: None ABSENT: None ABSTAIN: None ATTEST~ ~ ` ~ ~~~ ~ City Clerk /~ ~a r ~ ., ~l /~-~ ' ~ Mayor Reso No. 132-10, Adopted 8-17-10, Item a.2 Page 2 of 2 ia~ 5~ ~ AMENDMENT NO. 7 TO AFFORDA,BLE HOUSING AGREEMENT FOR THE CONSTRUCTION OF INCLUSIONARY UNITS AND PAYMENT OF FEES IN LIEU OF CONSTRUCTING INCLUSIONARY HOUSING UNITS Dublin RE Investors, a California limited liability company. First Phase (416 Residential Lots) of the Fallon Village Project THIS AMENDMENT NO. 7 TO AFFORDABLE HOUSING AGREEMENT is hereby entered into this 17th day of August, 2010 by and between the City of Dublin ("the City") and Dublin RE Investors, LLC, a Califomia limited liability company, Braddock & Logan Group II, L.P., a California limited partnership, K. Hovnanian Homes Northern California, Inc., a California corporation, and D.R. Horton BAY, Inc., a Delaware corporation (collectively, "the Developer"). Recitals 1. City and Dublin RE Investors are parties to an Affordable Housing Agreement for the Construction of Inclusionary Units and Payment of Fees In Lieu of Constructing Inclusionary Housing Units, dated June 5, 2007, as amended by the First Amendment to said agreement, dated June 17, 2008, by Amendment No. 2 to said agreement, dated November 4, 2008, by the Amendment No. 3 to said agreement, dated June 16, 2009, by Amendment No. 4 to said agreement, dated October 20, 2009, by Amendment No. 5 to said agreement, dated January, 2010, and by Amendment No. 6 to said agreement, dated March 25, 2010 ("the Agreement"), which agreement sets forth an alternate method of the Developer's compliance with the Inclusionary Zoning Regulations contained in Chapter 8.68 of the Dublin Municipal Code ("the Regulations") for the first 416 of the 1043 residential lots (the "ProjecY'). Dublin RE Investors has conveyed some of the property subject to this Agreement to Braddock & Logan Group II, L.P. ("Braddock and Logan"), which has become a party to the Agreement. 2. Braddock and Logan conveyed a portion of the property covered by the Agreement, consisting of 43 lots, known as Tract 7851 ("the Western Pacific Property"), to Western Pacific Housing, Inc. ("Western Pacific") and in conjunction therewith assigned to Western Pacific and Western Pacific assumed Braddock and Logan's interest in the Agreement as to the Western Pacific Property only. In conjunction with the assignment, Braddock and Logan was released from the obligations as to the Western Pacific Property only. 3. Dublin RE Investors, LLC conveyed a portion of the property covered by the Agreement, consisting of 69 lots, known as Tract 8036 ("the K. Hovnanian Property"), to K. Hovnanian Homes Northern California, Inc. ("K. Hovnanian") and in conjunction therewith assigned to K. Hovnanian and K. Hovnanian assumed Braddock and Logan's interest in the Agreement as to the K. Hovnanian Property only. In conjunction with the assignment, Dublin RE Investors was released from the obligations as to the K. Hovnanian Property only. 4. Braddock and Logan conveyed a portion of the property covered by the Agreement, consisting of 68 Iots, known as Tract 8037 ("the DR Horton Property"), to D.R. Horton BAY, Inc. ("DR Horton") and in conjunction therewith assigned to DR Horton and DR Horton Amendment No. 7 Affordable Housing Agreement First Phase of Positano Project ~iv~11}'11t H i /, ~ 5 ~ assumed Braddock and Logan's interest in the Agreement as to the DR Horton Property only. In conjunction with the assignment, Braddock and Logan was released from the obligations as to the DR Horton Property only. 5. The Agreement requires, among other things, that Developer construct 31 Inclusionary Units in Part One of the First Phase, as defined, in the locations depicted in E~ibit 3 to the Agreement. The Agreement also requires that Developer construct 21 Inclusionary Units in Part Two of the First Phase, as defined, in locations that were approved by the City's Community Development Director. Of the 21 Inclusionary Units in Part Two of the First Phase, 9 are required to be moderate-income, Integrated Units, and 12 are to be very low-income Second Units. 6. Developer now desires to change the Inclusionary Units in Part Two of the First Phase to require the construction of 221ow-income, 1-bedroom Second Units and no Integrated Units. 7. The City is agreeable to the proposed change and finds that the inclusionary units will continue to be dispersed throughout the development as required by the Regulations. 8. As the proposed amendment does not affect the Western Pacific Property, the City, Developer, DR Horton, and K. Hovnanian are the only parties required to effectuate the amendment. NOW, THEREFORE, Developer and City for themselves and their respective successors and assigns hereby agree as follows: Section 1. Amendment of Section 3 of the Agreement. Section 3 of the Agreement is amended to read as follows: "3. Developer's Compliance with Affordable Housin~ Obli~ation. Developer intends to complete the First Phase, as follows. a. Expanded First Phase (416 Residential Parcels). Developer has identified a 416-1ot portion of the Project, which is depicted in Eghibit 2, that is referred to herein as the "Expanded First Phase." Developer will satisfy its Affordable Housing Obligation for the Expanded First Phase by (a) constructing 53 Inclusionary Units (one (1) 1-bedroom, very low-income, Second Unit; twenty-nine (29) 1-bedroom, low-income Second Units; twenty-one (21) studio, very low-income Second Units; one (1) 4- bedroom, low-income Integrated Unit; and one (1) 4-bedroom, moderate-income Integrated Unit; and (b) making a$958.77 community benefit payment prior to issuance of each building permit in the Expanded First Phase as provided in Section 5 of the Agreement. Ezhibit 3 shows the location and type of the Inclusionary Units to be constructed within the Expanded First Phase. b. Section 8.68.030 of the Regulations requires that all affordable units in a project be constructed concurrently with a project or phase of a project. If the Building Official or Community Development Director determines that the Inclusionary Amendment No. 7 Affordable Housing Agreement 2 First Phase of Positano Project ~ ~ ~~ ~ Units have not been or are not being constructed concurrently with the market-rate units in a particular phase, the Building Official shall withhold further issuance of building permits in the phase until construction of the Inclusionary Units in the phase has been completed to the satisfaction of the Community Development Director." Section 2. Amendment of Exhibit 3. Exhibit 3 of the Agreement is hereby replaced with Exhibit A to this Agreement. Section 3. Revised Memorandum ofAgreement to Be Recorded.. Developer and City shall execute and acknowledge a revised Memorandum of this Agreement ("Memorandum") substantially in the form attached hereto as Exhibit B, and City shall cause the Memorandum to be recorded in the Official Records of Alameda County upon its execution. This Memorandum shall supersede and replace the Memorandum referenced in the Original Agreement. Section 4. All other provisions of the Agreement shall remain in effect. [EXECUTION PAGE FOLLOW,~] Amendment No. 7 Affordable Housing Agreement First Phase ofPositano Project ~, / ~ j~~ . IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date and year first above written. CITY OF DUBLIN DEVELOPER By: Joni Pattillo, City Manager Attest: Caroline Soto, City Clerk Approved as to form John Bakker, City Attorney DUBLIN RE INVESTORS, LLC a California limited liability company By: Braddock and Logan Services, Inc. a California corporation Its: Manager By: '~ oseph E. Raphe Its: President BRADDOCK & LOGAN GROUP II, L.P. A California limited partnership By: Braddock and Logan Services, Inc. a California corporation Its: General Partner By: ~ _ Joseph E. Raphe Its: President D.R. HORTON BAY, INC., a Delaware corporation K HOVNANIAN HOMES NORTHERN CALIFORNIA, INC., a California corporation By: Richard P. Ambrosini, Vice President 1462654.5 4 By:_ Its: Amendment No. 7 Affordable Housing Agreement First Phase of Positano Project i~ `~ ~ ~ __ _. ~ -. : _: , : , _ _ _., ,~;.. ~ X ,. ;~i ~; - ` ~ ~., , _ . , .~ ~; . ; , ,` . ; X ,~ :/ ~ c f ; `e;`~ \\ `, ~~ ~~ =; ~ - - ~ ,, ' ~', ' x - : i x>: ; ~~ . --- :- 5; ~ .x Jn ~ ~ , ,_ . v\ + i~ ~r ~ \ . ~ ~' ~ .. ~\~ / \ ~ ~ .~ . , 1 • ~~ ~~ ;~ DU~LI~~I Rr\~~1CN ~ ~ ~, ~ t \ ~; ~`~ ~ ~ ? ~ li ~ ~ ~ ~l ~r I~ I~ I~ ~ I ~ \ .., ;! ~ :~.-~ ~;,~~ ~ `,~ ~~ i ~ ~ G -, L1 ~~ LI ~la~ ~~ Positano Expanded First Phase: Affordable Unit Locations Neighborhood Key LEGEND ~.-f _. ~~ " ` ~5 ix;~ ~ - - -Expanded First Phase (4161ots) 1,. ~ ~_ ~~_ ~~ " , ;'-~r=-; ,--~. : ' ~'~,, ' ~ , ,~~ '~--5 ` `' .' ' ``'' ..`.' '^ ''' '~/ I~k ~~~ _'r>.'/~•~1/ : v' , ~ ~, '/ , ` J ` AFFORDABLE LOT LOCATIONS: . /, `. ; : ^'~ ~ `F i ~ I ,~ I i j : - ----=-~ ~ ;~ %~ '^ .>.`"'. ;; ;X;, ~ ~ ~ ~ ` VeryLowIncome, e ~k ~ . '~~,` ~ ' ] ~ ~ '~< ' , ` ~ One Bedroom Second Unit (1) ' ---- ( ~ i f l j ~- : 4 ~ `. ' % i ,_ / ~ ~ ~ ^ ~ ` y i r__ ti t. _.~ ~`Yl ~ ~ --- ,`'~°•• ... ~; ..` ' • _~ ; t ! X;~ i ; ' ;~ „ ~." ~ ' ~ ~ ~ VeryLowIncome, ~, ~ ; 1 ~X,1 '~,; ~ -~,~' ( ~ ~`j v~ `--~_ , ~ ` ~: ~ ~ ~ ' ~ ~ ` j Studio Second Units (21) 1,-~._ . '~~.:' ;1~ ~~ .~: ` ~ ~ ~ - - " '` ",.,- ` ~ i < ~ LowIncome, (Unbuilt) X . ,, , \ , ~ . ,~ ? ,~G~ ; 'j ; .-~-r` ~ ~ ~ .; ~.` ~ < `~ ~ ' ~ ~ I I ~ ~ ! ' One Bedroom Second Units (22) , /~ ~ L. - ; ; ~ i i C ~.r ~..._~__i_' ' ;,~`;~ \ . ~ ,,~ !~ ~\.r~"~ \`~',. ~`' LOW IIlCOII70, 0 One Bedroam Second Units (7) ~ ._ ..- ~ ------ ~..~ , , ~ ~ ; r.._ ' " , ; ...___!_~ .~ ; ~'. ' 1..~, 1_,- ,~_~'~ .._ ! (__--:~'~~~ 1~i I ~- r~~ :_~;, ._~__' i , .i- --, : : : ~---._: ; . i' ; --- ~ ' i ~. ~~- ~: _._ ^. , ~ _ ' -- --- ~ i i ~_'_--- '• \~ '~~.~" '1 `_-_._..__~ I __"".'_- ~ ~ i ~'~\ 1 _-----y-' i ~ ~~~'~ / ;_--~~_-~ ~..~,t~J~, `,11~_,\`~`~ ,j ~`\ r-~"~-~;~~ L..i'' .~-^~ `~ ,`~C ~~ ~ '\ .-.r~ ,,,.{ !', L. :~ Y~ r". i ` ~i"~' ~,j \. l . , ' . ~i ~~'~,• , ~ -~: ~~ ..~ %~,%'`~l' ~ \• ' i~, '~''"~,;~ ~,.--'~. ~~,~'`~;?~~ ~ ~ ~ ~~ 1~ % , ~~ ~;~;~Y' ~`~ ,;< ~~>~ '} Ui" `'~` '` \``~ :` ~ r- ., ~~ . ~:fl ~ ,,~ ~ ~~ ~~ '~ ~~.~ "~~''Y; `'~ ~`~ _`' `` ~ \~~ /`\.% ; _ %~.,_ „-, ~_~ ... ~\ ~yI i •~~~ ~ -;.:'=,•";T' ,~~ ~ , • ~ % `~-: - _-~ - / i ~ ~~~ `~~~`!;`.,! ''ti+`; ; ~ ,~, ~j~.; l_._~ ` _..---~ _' ,~`z' ~ " ~ _ ; ~,~'y `~~ .-:~_.1 ,--... ~ _ ,; ~,-~ . ~ `.._.i~ ~" ,r_._? , ^' ~ _ ' _..._'_ y "~ ~ -~.. A_:_.~__{_~' ~ ~1.., ~- , f ( ~;~ ~ "y~~ 1~ ~~~ 1_~ ` Of! ~~: ,;; Ro~i i~ f' J l Q Low Income, Four Bedroom Integrated Unit (1) ~ Moderate Income, _,~our-Bedroom Integrated Unit (1) N 0 R T H NOT TO SCALE ~~ mAC~Y~somps ~~ / CML ENGINEERING~lANO PIANNINC•LAND SURVEYING PLEASPNTON, CA 94588 (925) 2~5-Ofi90 .~ . _....___._.... ..~..... . ~ ..~.nn ~cr uniiciu/`_l1VCD611_7_11-1(1~1W(; 07-27-2010 8:09pm Mark Mcaenan r:~iy~~~~c..~~~u~~~~~~,~ ~."~~~ .. ~ -.___ .. - ._-- . . . Eghibit A ~ ~ bb 5~ RECORDING REQUESTED BY: CITY OF DUBLIN When Recorded Mail To: City Clerk City of Dublin 100 Civic Plaza Dublin, CA 94568 Fee Waived per GC 27383 Space above this line for Recorder's use MEMORANDUM OF AFFORDABLE HOUSING AGREEMENT FOR THE CONSTRUCTION OF INCLUSIONARY UNITS AND PAYMENT OF FEES IN LIEU OF CONSTRUCTING INCLUSIONARY HOUSING UNITS Dublin RE Investors, a California limited liability company. First Phase (416 Residential Lots) of the Fallon Village Project This Memorandum of Affordable Housing Agreement for the Construction of Inclusionary Units and the Payment of Fees In-Lieu of Constructing Inclusionary Units (this "Memorandum") is entered into on this _ day of August, 2010, by and between the City of Dublin, a municipal corporation (hereafter "City") and Dublin RE Investors, LLC, a California limited liability company, Braddock & Logan Group II, L.P., a California limited partnership, Braddock & Logan Group II, L.P., a California limited partnership, K. Hovnanian Homes Northern California, Inc., a California corporation, and DR Horton Bay, Inc., a Delaware corporation (collectively "the Developer"). 1. Pursuant to the Affordable Housing Agreement for the Construction of Inclusionary Units and Payxnent of Fees In Lieu of Constructing Inclusionary Housing Units, dated as of June 5, 2007, and as amended on June 17, 2008, on November 4, 2008, on June 16, 2009, on October 20, 2009, in January 2010, on March 25, 2010, and on August 17, 2010, by and between City and Developer and with respect to certain property DR Horton Bay, Inc. (the "Agreement"), the Parties have set forth their respective obligations with respect to the provision of affordable units on lands presently owned by Developer, DR Horton Bay, and others to which the Agreement has been assigned, a portion of the 1043 residential parcel Positano Project (the "Project"), and more specifically described in E~iibit A(the "Property"). T`hese obligations run with the land. 2.. The Agreement sets out the specific obligations for the construction of Inclusionary Units and payment of fees in lieu thereof in conjunction with the initia1416- residential parcel phase of the developmenf of the Project ("the Expanded First Phase"). It also obligates the Developer to make a Community Benefit Payment, as described in the Agreement, ~ prior to issuance of building permits for each residential unit (excepting Second Units) within the Exhibit B I g ~~5~ Expanded First Phase. Development on, and the City's approval of subsequent final maps that include, any portion of the Property beyond the Expanded First Phase shall require either an amendment to this Agreement or a subsequent affordable housing agreement ("the Subsequent Agreement") setting forth the manner in which the Regulations will be complied with for the remainder of the Project. The Agreement also contains the Developer's covenant, on behalf of itself, and its successors and assigns, that it will not assert the provisions of Government Code section 66458 to require the City to approve additional phased final maps (beyond those for the creation of the 416 residential parcels in the Expanded First Phase) until such time as it has entered into the Subsequent Agreement. 3. Developer and City have executed and recorded this instrument to give notice of the Agreement, and the respective rights and obligations of Developer and City. The unrecorded Affordable Housing Agreement for the Construction of Inclusionary Units and Payment of Fees in Lieu of Constructing Inclusionary Housing Units is incorporated by reference in its entirety in this Memorandum. 4. This Memorandum shall bind and inure to the benefit of the parties and their respective heirs, successors and assigns, subj ect however to restrictions set forth in the Agreement regarding assignment. [EXECUTION PAGE FOLLOWS] I ~b ` `4%' ~ IN V~'ITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date and year first above written. CITY OF DUBLIN By: Joni Pattillo, City Manager Attest: Caroline Soto, City Clerk Approved as to form John Bakker, City Attorney DUBLIN RE 1NVESTORS, LLC a California limited liability company By: Braddock and Logan Services, Inc. a California corporation Its: Manager By: ~ oseph E. Raphel Its: President BRADDOCK & LOGAN GROUP II, L.P. A California limited partnership By: Braddock and Logan Services, Inc. a California corporation Its: General Partner By: Joseph E. Raphel Its: President D.R. HORTON BAY, INC., a De]aware corporation By: Richard P. Ambrosini, Vice President K HOVNANIAN HOMES NORTHERN CALIFORNIA, INC., a California corporation By:_ Its: ~a~~~~~ RES~LUTION NO. -10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN APPROVING AMENDED AND RESTATED SUBSEQUENT AFFORDABLE HOUSING AGREEMENT FOR THE CONSTRUCTION OF INCLUSIONARY UNITS AND PAYMENT OF FEES IN LIEU OF CONSTRUCTING INCLUSIONARY HOUSING UNITS WHEREAS, Dublin RE Investors, LLC (the Developer) is the owner of two parcels of land within Fallon Village that together are known as Positano and consists of 1,043 residential units; and WHEREAS, an Affordable Housing Agreement is required by the Inclusionary Zoning Regulations of City of Dublin Zoning Ordinance (Chapter 8.68); and WHEREAS, the Developer proposed a comprehensive affardable housing proposal to address the requirements of the Inclusionary Zoning Ordinance for the entire Positano development and said proposal includes alternative methods of compliance with the Inclusionary Zoning Regulations; and WHEREAS, the City Council held a public meeting on October 18, 2005, to review the affordable housing proposal, and the City Council directed Staff to work with the Developer to refine the affordable housing proposal; and WHEREAS, the City and the Developer subsequently entered into an Affordable Housing Agreement for the Construction of Inclusionary Units in the First Phase of the Positano development, consisting of 416 lots, dated June 5, 2007, as amended on June 17, 2008, November 4, 2008, June 16, 2009, October 20, 2009, January 2010, March 25 2010, and August 17, 2010 ("the First Phase AgreemenY'), wherein the Developer agreed to construct a total of 53 affordable units (11 single-family detached homes and 41 secondary units); and WHEREAS, subsequently, the City and Developer entered into a Subsequent Affordable Housing Agreement for the Construction of Inclusionary Units and Payment of Fees In Lieu of Constructing Inclusionary Housing Units, dated November 4, 2008, as amended on March 25, 2010 ("the Subsequent Agreement"), for the remaining 627 lots of Positano known as the Subsequent Phase; and WHEREAS, the Subsequent Agreement provided that Developer would satisfy its affordable housing obligations in the Subsequent Phase by among other things constructing a 78-unit offsite affordable housing project; and WHEREAS, Braddock and Logan, on behalf of Dublin RE Investors, LLC (the Developer) has determined that the offsite project is infeasible, and has therefore proposed an alternative proposal to satisfy its affordable housing obligations, which includes the construction of 4I 1-bedroom, low-income, Second Units in the Subsequent Phase and the payment of a$1,938,760 fee in-lieu of construction; and WHEREAS, the Project has been found to be Gategorically Exempt from the California Environmental Quality Act (CEQA); and ATTACHMENT 3 f~~ v r/' V '~ WHEREAS, a Staff Report dated August 17, 2010, and incorporated herein by reference, described and analyzed the proposed amendment to the Affordable Housing Agreement; and WHEREAS, the City Council did use its independent judgment and consider all said reports, recommendations and testirnony. NOW, THEREFORE, BE IT RESOLVED that: A. The City Council of the City of Dublin does hereby find that the alternate method of compliance with the Inclusionary Zoning Regulations contained in the Amended and Restated Subsequent Affordable Housing Agreement (which is included as Exhibit A and the First Phase Agreement, as amended simultaneously herewith, including constructing 94 integrated and secondary units that will remain affordable in perpetuity, the payment of an fee of $1,938,760 in lieu of construction, and the payment of a prorated share of the $1,000,000 Community Benefit Payment, meet the purposes of Inclusionary Zoning Regulations for the reasons specified in the Amended And Restated Subsequent Affordable Housing Agreement For The Construction Of Inclusionary Units And Payment Of Fees In Lieu Of Constructing Inclusionary Housing Units for the Subsequent Phase (627 Residential Lots of the Positano Project ("the Amended Subsequent Agreement") attached hereto as E~ibit A. B. The City Council of the City of Dublin does hereby approve the Amended Subsequent Agreement attached hereto as Exhibit A. C. The City Manager is authorized to execute the Amended Subsequent Agreement attached hereto as Exhibit A including the accompanying memorandum of the agreement. PASSED, APPROVED AND ADOPTED this 17th day of August 2010, by the following vote: AYES: NOES: ABSENT: ABSTAIN: ATTEST: City Clerk 1488579.1 Mayor G:\PA#~2005\OS-038 B&L Stage 2 Fallon Village~Affordable Housing AgreertrQii[,~,AHA Phases 1&2 Amend 7& 2\CC Reso Approving Amended and Restated Subsequent Positano AIiA (2).DOC