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<br />Ordinance No. NS - ____ <br />Page 12 of 22 <br />8) Residential real property that is alienable separate from the title to any <br />other dwelling unit, provided that both of the following apply: <br /> <br />A. The Owner is not any of the following: <br /> <br />i. A real estate investment trust, as defined in Section 856 <br />of the Internal Revenue Code. <br /> <br />ii. A corporation. <br /> <br />iii. A limited liability company in which at least one member <br />is a corporation. <br /> <br />B. <br />i. The tenants have been provided written notice that the <br />residential property is exempt from this section using the <br />following statement: “This property is not subject to the <br />just cause requirements of Santa Ana Municipal Code <br />Chapter 8, Article X, Division 4. This property meets the <br />requirements of Santa Ana Municipal Code section 8- <br />1994(e)(8) and the Owner is not any of the following: (1) <br />a real estate investment trust, as defined by Section 856 <br />of the Internal Revenue Code; (2) a corporation; or (3) a <br />limited liability company in which at least one member is <br />a corporation.” <br /> <br />ii. For a Tenancy existing before the effective date of this <br />Ordinance, the notice required under clause (i) may, but <br />is not required to, be provided in the rental agreement. <br /> <br />iii. For any Tenancy commenced or renewed on or after the <br />effective date of this Ordinance, the notice required under <br />clause (i) must be provided in the rental agreement. <br /> <br />iv. Addition of a provision containing the notice required <br />under clause (i) to any new or renewed rental agreement <br />or fixed-term lease constitutes a similar provision for the <br />purposes of subparagraph (E) of paragraph (1) of <br />subdivision (b). <br /> <br />9) Housing restricted by deed, regulatory restriction contained in an <br />agreement with a government agency, or other recorded document as <br />affordable housing for persons and families of very low, low, or <br />moderate income, as defined in Section 50093 of the Health and <br />Safety Code, or subject to an agreement that provides housing <br />subsidies for affordable housing for persons and families of very low, <br />City Council 7 –24 10/19/2021