Laserfiche WebLink
rented or available for rent to very low or low income tenants. Said Affordable Rent Schedule <br />shall be established at the time of the issuance of the occupancy permit ("Initial Rent Schedule") <br />and shall be created in accordance with the Orange County, California Primary Metropolitan <br />Statistical Area ("PMSA") as published by the United States Department of Housing and Urban <br />Development ("HUD"), adjusted for family size. <br />1.1.4 "Affordable Units" means four -hundred and fifteen (415) units which <br />shall be comprised of ninety-one (91) studio Units, two -hundred and sixty-two (262) one (1) <br />bedroom Units, and sixty-five (65) two (2) bedroom Units of which three (3) Unrestricted Units <br />(i.e. — manager's unit) with unit sizes as may be determined by the Developer. <br />1.1.5 "Agreement" means this Density Bonus Housing Agreement. <br />1.1.6 "Base Units" means the two -hundred and eighty-five (285) Units that <br />Developer would be authorized to develop on the Property without application of the State Density <br />Bonus Law and City Housing Opportunity Ordinance density bonus. <br />1.1.7 "City" means the City of Santa Ana, California <br />1.1.8 "City Council" means the City Council of the City of Santa Ana. <br />1.1.9 "City Attorney" means the City Attorney for the City of Santa Ana. <br />1.1.10 "City Manager" means the City Manager for the City of Santa Ana. <br />1.1.11 "City's Planning Commission" means the Planning Commission for the <br />City of Santa Ana. <br />1.1.12 "Density Bonus Housing Agreement Term" means the period during <br />which this Agreement shall be in full force and effect, as provided for in Section 6.1 below. <br />1.1.13 "Density Bonus Units" means the one -hundred and thirty-three (133) <br />Units in addition to the Base Units that Developer shall develop pursuant to the density allowance <br />in the State Density Bonus Law, the City Housing Opportunity Ordinance density bonus, and the <br />terms and conditions of this Agreement, of which Developer would not be entitled to develop <br />without providing the Affordable Units. <br />1.1.14 "Developer" means Santa Ana Senior Associates, a California Limited <br />Partnership, and its permitted successors and assigns to all or any part of the Property. <br />1.1.15 "Effective Date" means the date the City Council of City approves this <br />Agreement and from then on this Agreement shall be in full force and effect. <br />1.1.16 "Eligible Household" means a Household whose income does not exceed <br />the qualifying limit for a "very low income tenant" or "lower income tenant" as defined herein, <br />60A-9 <br />