80A - AGMT WITH HABITAT FOR HUMANITY

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[WRIM1Ly1191 Housing Funds for the development of the Project at the Property, subject to non -substantive changes approved by the City Manager and City Attorney. D. On November 17, 2020, the City of Santa Ana agreed to change the terms of the pre -loan commitment from a loan to a conditional grant. E. The amount of the Conditional Inclusionary Grant was determined based upon the City's review of the Habitat's request for the receipt of the Conditional Inclusionary Grant and the development proforma and projected cash flows for the Project submitted by the Habitat to the City ("Proforma"). The City Project Manager has authority to approve revised development proformas and projected cash flows for the Project; provided, however, that the Conditional Inclusionary Grant is not materially increased or extended. F. In furtherance of the Inclusionary Housing Program, Habitat applied to the City for a grant with which to: 1. Develop and construct the Project. G. The City, on certain terms and conditions, made such Inclusionary Grant to Developer in order to make possible the development and construction of the Project, thereby expanding the supply of decent, safe, sanitary and affordable housing within the City. H. If there is any inconsistency between Federal, State, and local guidelines with regard to any of the terms and conditions contained herein, the more stringent shall apply. I. The Inclusionary Grant Agreement and Ground Leases for the two parcels of the Property are entered into for the purpose of providing for affordable residential ownership units in the City of Santa Ana pursuant to the Inclusionary Housing Fund regulations and guidance. J. These Restrictions empower Habitat, as Lessor's Agent, following construction of the homes, to maintain the affordability of the Restricted Units and to maintain the certain components of the Premises that may not be covered by Tenant insurance under the Ground Lease for the Premises. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, City and Developer agree as follows: 1. Definitions: "Affordable Housing" means the total housing costs paid by a qualifying household, which shall not exceed the fraction of gross income specified, as follows, in accordance with the State of California Department of Housing and Community Development pursuant to Health and Safety Code Section 50052.5(b)(4) and the U.S. Department of Housing and Urban Development (HUD): • �