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PLANNING COMMISSION DRAFT <br />SUBJECT TO CITY COUNCIL APPROVAL <br />1.1.18 "Developer" means Alminlo Properties, a California limited liability <br />company, and its permitted successors and assigns to all or any part of the Property, Project or <br />this Agreement. <br />1.1.19 "Effective Date" means the date the Developer and the City shall record <br />or cause to be recorded in the Official Records for Orange County, California, an executed <br />original of this Agreement, pursuant to section 4.2 herein. <br />1.1.20 "Eligible Household" means a Household whose income does not exceed <br />the "Moderate Income Household" qualifying limit as defined herein. <br />1.1.21 "Gross Household Income" means all income from whatever source <br />from all adult Household members, which is anticipated to be received during the 12-month <br />period following the date of the determination of Gross Household Income. The applicable <br />sources of income are defined in California Code of Regulations Title 25 Housing and <br />Community Development Section 6914. The definition includes the following specific <br />requirements: <br />(a) Except as provided in subdivision (b), all payments from all <br />sources received by the head of Household (even if temporarily absent) and each additional <br />member of the Household who is not a minor shall be included in the annual income of a <br />Household. Gross Household Income shall include, but not be limited to: <br />(i) The gross amount, before any payroll deductions, of wages <br />and salaries, overtime pay, commissions, fees, tips and bonuses; <br />(ii) The net income from operation of a business or profession <br />or from rental or real or personal property (for this purpose, expenditures for business expansion <br />or amortization of capital indebtedness shall not be deducted to determine the net income from a <br />business); <br />(iii) Interest and dividends; <br />(iv) The full amount of periodic payments received from social <br />security, annuities, insurance policies, retirement funds, pensions, disability or death benefits and <br />other similar types of periodic receipts (but see subdivision (2)(c)); <br />(v) Payments in lieu of earnings, such as unemployment and <br />disability compensation, worker's compensation and severance pay; <br />(vi) Public Assistance. If the public assistance payment includes <br />an amount specifically designated for shelter and utilities which is subject to adjustment by the <br />public assistance agency in accordance with the actual cost of shelter and utilities, the amount of <br />public assistance income to be included as income shall consist of: <br />(1) The amount of the allowance or grant exclusive of <br />the amount specifically designated for shelter and utilities, plus <br />4 <br />55394.00101\n^^^'�.-.a4,7 ' 42998272.1 <br />