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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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Last modified
1/3/2012 4:05:19 PM
Creation date
6/10/2010 1:10:58 PM
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City Clerk
Doc Type
Agenda Packet
Item #
80A
Date
6/7/2010
Destruction Year
2015
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~~1,1~ ~eia~lolls~ll~ fa ~`edlt Requiren~ex~#s, ~ot~vitl~standir~g at~y other <br /> pRO~risions of this Areerr~ent, to the extent that a Tax red~t ~g~~atot'y Agreetne~~t executed by <br /> the De~elape~• as a requi~`et~e~~t off` receiving the Tax credits far either far bath} Pl~ase~s} of tl~e <br /> ~et~tal Portlot~ Qf the PR~~eet ar any other ~'eulata~'y agt'ee~nent executed tl~e Developer as a <br /> ~'equiren~ent to obta~~n financing for either for botl~~ Phase{s} afthe dental Portion aftl~e Project, <br /> are Iess restrictive v~rlth Respect to the require~nel~ts applicable to tena~~t selection, tet~a~~t income <br /> levels, unit rent levels or at~y other; aspect of tl~e coi~structian and operation of such Phases} of <br /> the Rental Portio~~ of tl~e P~;oject than as pra~r~ded In this Aree~r~ent aid tie ~egulatot'y <br /> Agreement, then the Develapeli shall con~pl~ 4~~atl~ tl~e req~~iietnetits of <br /> ~l~ts A~•eer~ent, inel~~dit~ <br /> the applicable Reulato~~y .AgreeRnent; pi`ovided, I~o4~evei', that in the event the caver~at~ts or <br /> ~`esti'ictioi~s, i~icludii~g the affordability rests}ict~ol~s set fart}~ ~~j tl~~s Agreemei~t, ii~cludli~ the <br /> Re~~latory Agreemei~ts, are nQt tl~e t>~ast i`est~'ictive ~rovisioi~s applicable to either for botl~~ <br /> Phase~s~ of the P.ental Poi`tioi~ of <br /> ~l~e P~`a~eet, a~~d to the extent of a~~ ~~col~slste~Cy bet~~eet~ a~~ <br /> airiot~ s~xcl~ agree~r~et~t~s}, the Developer shall compl~~ ~vith the mast rest~'icti~re of such <br /> agaie~x~ei~ts, Tl1e foregoing Req~~iremer~ts shall apply to tl~e Developer az~d to its Pi`opert}~ <br /> a~laer ~~ha is involved its the selectio~~ off` te~~a~~ts oi' tl~e deterinit~atiai~ of i'~nt ainot~~~ts far tl~e <br /> Rei~tal Partiar~ of tl~e Project, <br /> ~a1,1 Applicability of Secfio~~~ The pravisiaris of this Section tai apply oi~Iy <br /> to t~~e l~ei~tal Poi`tioi~ of the Project and are ~vl~ally it~applicable to t~~e For-Sale Fortiori of the <br /> p~'a <br /> ject. <br /> P1'U'4'1SIgI1 a~ ai~e~'ate I~lcame Fol'-Sale ~o111x1~~~UZ'~Sl~ P01'tlarl of Mlle <br /> PI'U~ ~~f~ <br /> ~~~~1 l~p~rlllet', ~ocatial~ ~lld ~ual~ty of Affoz•~lahle ~`or~ale C~liits, one ~l~ <br /> of the Housing Units developed ox~ each of tl~e six ~C} separate lots cai~stitutil~ Phase the <br /> PaR-Sale Poi~tiol~ of tl~e Deve~ap~riet~t shall be sold to Moderate Ii~came Uouseholcls, at the p~•ices <br /> set fartl~ in Sectioi~ ~D~,~ hereof, '.e., the Affordable For»ale U~~its, Tl~e location of the <br /> Affo~`dable For-Sale Units ~vithin tl~e For-Sale Pai-tia~~ of tl~e P~`oject ~vill be ~rbject to fhe <br /> Reasonable approval of tl~e Agency 1~xecuti~e Director pursuant to applicable la~vs at~d <br /> re~ilations, The Developer cavei~ants a~1d agrees that tl~e orkinai~ship} quality of materials, <br /> and casts of cot~struction for aild the ame~~~ties~ at~d physical features of eaell at~d all of the <br /> Affordable p'ot`-Sale Units shall be equal toy a~~d cinder x~o circumstances or conditions less <br /> desirable than, aII other Hai~sing Units in fire p'ot`-Sale l'oitioii of the Pi'a <br /> jest. <br /> ~a} The Developer' ~vill be consti+uctin sever+al t~~odels, pla~~s, oi` types <br /> of H.ousii~g Uliits iii file Far-Sale Partl~tl of floe ~'roject, AlI of the Affordable p'or-Sale Urlits <br /> mill be three ~3} bedraan~ Housing Units, Three of fire Affordable Ha~~sing Units will be Platy 1 <br /> Units two of the Affoz~dable Housing lilts ~~ill be Plan ~ Units, and one of tl~e A'fo~;dable <br /> Ho~~siiig Units ~~ill be Plan ~ Unit has those terms as desc~'ibed i~~ the Scope of Development}. <br /> <br /> The Developer caveliants ar~d agrees that all tl~e A'fo~`dable For-Sale Uliits iii all respects shall <br /> be the satr~e~ca~r~pai`able in tei`ins of quality of construction, arrie~iities~ tr~atet'ials, desigii, etc, as <br /> <br /> tl~e Hous~x~g Units of the wine size and rnadel that are designed, constructed, a~7d sold oil the <br /> open marl~et. <br /> <br /> DQCaCII ~b~3v ~ 31200~7~-O~a 1 <br /> <br />
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