60A - SENIOR RENTAL DENSITY BONUS

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Density Bonus Agreement for 2222 East First Street October 16, 2018 Page 4 units, and sixty-five (65) two-bedroom units. 415 affordable units shall be restricted to use and occupancy by eligible households for a total period of no less than fifty-five (55) years including: o No less than forty-two (42) affordable units in the Project shall at all times during the term of the agreement be rented to very low income tenants at 50% Area Median Income (AMI); and o No less than three -hundred and seventy-three (373) affordable units in the Project shall at all times during the term of the agreement be rented to low income tenants at 60% Area Median Income. • The affordable rents shall be determined by the regulatory agreements entered into between the Developer and the California Tax Credit Allocation Committee (CTCAC) and the California Debt Limit Allocation Committee (CDLAC) governing the project. • The Owner shall, at all times during the term of this Agreement, cause the Property and the Project to be maintained in a decent, safe and sanitary manner. If at any time the Developer fails to maintain the Project then the City shall have the right to enter upon the applicable portion of the Project and perform all acts and work necessary to protect, maintain, and preserve the Project, and to attach a lien upon the Property, or to assess the Property, in the amount of the expenditures arising from such work. • Developer shall execute a maintenance agreement with the City which shall be recorded against the property prior to occupancy. • Developer shall prepare and obtain City's approval a marketing program for the leasing of the units at the Project prior to occupancy. • Developer shall submit a "Management Plan" to the City which sets forth in detail Developers property management duties, a tenant selection process in accordance with the Agreement, a security system and crime prevention program, the procedures for the collection of rent, the procedures for eviction of tenants, the rules and regulations for the Property and manner of enforcement, a standard lease form, an operating budget, the identity and emergency contact information of the professional property management company to be contracted with to provide 24-hour onsite property management services at the Property ("Property Manager"), and other matters relevant to the management of the Property. • The Developer shall give preference in leasing units to households that live and/or work in the City of Santa Ana or who have an active Housing Choice Voucher issued by the Housing Authority of the City of Santa Ana or any other Public Housing Authority. Implementation of the preference will be monitored by staff in the Community Development Agency. • Owner agrees to pay a reasonable fee, as set by City resolution, for the City's obligation to monitor Owners compliance with the affordability restrictions contained in the Agreement. • Developer shall submit for review and approval, a booklet to inform interested persons regarding minimum application and eligibility requirements and to assist interested persons with application and financial preparedness and eligibility for residency at the Project at the initial leasing of the units. Developer shall also hold a minimum of two workshops to be coordinated by the Developer at least 12 months prior to the initial leasing of the units. • Throughout the term of the Agreement, Developer shall provide residents of the Project access to discounted or no -cost onsite supportive services, programming, and amenities that promote independent living and include but is not limited to: health and wellness 60A-4