Laserfiche WebLink
CITY COUNCIL DRAFT <br />1.1.41 "Unit" means a residential dwelling unit within the Project to be <br />constructed or caused to be constructed by Developer. <br />1.1.42 "Unrestricted Units" means the Units within the Project to be constructed <br />or caused to be constructed by Developer and sold at market rate without restriction. <br />1.2 Exhibits. The following documents are attached to, and by this reference made <br />a part of, this Agreement: <br />1.2.1 <br />Exhibit A: <br />Legal Description of the Property <br />1.2.2 <br />Exhibit B: <br />Affordable Housing Resale Restrictions, Equity <br />Sharing and Regulatory Agreement <br />1.2.3 <br />Exhibit C: <br />City Promissory Note <br />1.2.4 <br />Exhibit D: <br />City Deed of Trust <br />1.2.5 <br />Exhibit E: <br />Income Verification Form <br />1.2.6 <br />Exhibit F: <br />Certification of Continued Occupancy <br />1.2.7 <br />Exhibit G: <br />Notice of Affordability Restrictions on Transfer of <br />Property <br />1.2.8 <br />Exhibit H: <br />Request for Default <br />1.2.9 <br />Exhibit I: <br />Affordable Sales Price <br />2. DEVELOPMENT OF THE PROPERTY <br />2.1 Project. Developer shall develop, operate, and maintain, or cause the <br />development, operation and maintenance of, the Property as forty five (45) Units, with five (5) <br />Affordable Units for Eligible Households and forty (40) Unrestricted Units in accordance with this <br />Agreement and the Project Approvals. Notwithstanding anything to the contrary contained herein, <br />in no event shall this Agreement apply to any of the Unrestricted Units and such Unrestricted Units <br />shall not be subject to any of the covenants, restrictions, requirements, or provisions of this <br />Agreement which are applicable to the Affordable Units and this Agreement shall not be recorded <br />on the title of any of the Unrestricted Units. <br />2.2 Density Bonus. The Project shall have forty five (45) Units, to be sold, owned, <br />occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. <br />Developer understands and agrees that Developer is not requesting an increase in density and that <br />this Agreement does not allow or approve an increase in residential density over the allowed <br />density regulations of the City. Developer shall not construct or develop, or otherwise claim a <br />right to construct or develop any additional residential units on the Property under this Agreement. <br />2.3 Development Concessions, Incentives, and Waivers. As set forth in the City <br />entitlements, Developer petitioned for and is hereby granted the following concessions, incentives, <br />and waivers as part of the approval of Density Bonus Application: <br />2.3.1 Concession. In accordance with Government Code Section 65915(d)(1), the <br />Project is granted one (1) concession for relief from City Municipal Code Section 41-592.3 and <br />SP-2, Ch. 3, Frontyard/Porch Frontage Type Configuration Requirement, contained at 1, on Page <br />3-9, which would ordinarily require the Project provide porch dimensions as follows: a minimum <br />Page 8 <br />5 53 94.0010 1 \43721567.2 <br />