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Inclusionary housing plan means the plan submitted by the developer, in a form specified by the executive director, detailing how the provisions of this article will be implemented for the proposed residential project. Inclusionary unit means a dwelling unit that will be offered for sale or rent to extremely low, very low, low, or moderate -income households, at an affordable housing cost, in compliance with this article. Low-income units, very low-income units, and extremely low-income units means inclusionary units restricted to occupancy by low, very low, and extremely low-income households, respectively, at an affordable housing cost. Market rate units means dwelling units in a residential project that are not inclusionary units. Moderate -income units means inclusionary units restricted to occupancy by moderate -income households at an affordable housing cost. Prior project means any project for which an application was submitted and the application was deemed complete prior to August 4, 2015. Regulatory agreement means an agreement entered into between the City of Santa Ana or the Santa Ana Community Development Agency and a developer by which the developer covenants to keep certain housing units at an affordable housing cost for a specified period of time. Rehabilitated units/rehabilitation means the improvement of a unit in substandard condition to a decent, safe and sanitary level. Units are in substandard condition when, while they may be structurally sound, they do not provide safe and adequate shelter, and in their present condition endanger the health, safety or well-being of the occupants. Residential project/project means any of the following: A subdivision resulting in the creation of five (5) or more residential lots or residential condominium units; or The new construction of a project consisting of five (5) or more multi -family units; or The new construction of five (5) or more separate houses or dwelling units; or The conversion of five (5) or more existing residential rental units to condominium ownership. Target area means that area designated by the city from time to time, on an as - needed basis, as a priority area for rehabilitation due to health and safety concerns. Total housing costs the total monthly or annual recurring expenses required of a household to obtain shelter. For a rental unit, total housing costs shall include the monthly rent payment and utilities paid by the tenant (excluding telephone and Ordinance No. NS-XXX Page 4 of 14 City Council 1-4 7/26/2021