Laserfiche WebLink
ATTACHMENT NO.7 <br />RECORDING REQUESTED BY, <br />AND WHEN RECORDED MAIL TO- <br />Community Redevelopment Agency <br />of the City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, California 92702 <br />Attn: Executive Director <br />This document is exempt from payment of a <br />recording fee pursuant to Government Code <br />Sections 27383 and 6103. <br />REGULATORY AGREEMENT <br />THIS REGULATORY AGREEMENT <br />2010, by and between <br />AGENCY OF THE CITY OF SANTA ANA, <br />"Agency"), and <br />(the "Agreement") is entered into as of <br />the COMMUNITY REDEVELOPMENT <br />a public body, corporate and politic (the <br />(the "Developer"). <br />RECITALS <br />A. Developer has acquired from the Agency certain real property located within the <br />City of Santa Ana, as particularly described in the Legal Description attached hereto as <br />Exhibit A, which is incorporated herein by reference (the "Site"). <br />B. Developer desires to construct a multifamily affordable housing development, <br />which will consist of a minimum of (,?} units (the "Housing Project"), and to make <br />available and rent the apartment units within the Housing Project (the "Housing Units') to <br />extremely and very low income persons at an affordable rent. The Housing Project is sometimes <br />referred to herein as the "Project." <br />C. Developer and Agency_ have entered intoa Disposition and Development <br />Agreement (the "DDA") dated as of 2010. Subject to the terms and <br />conditions therein, the Developer has agreed to acquire the Site and construct and operate the <br />Housing Project, the Agency has agreed to provide financial assistance to Developer, and the <br />Developer has agreed to matte available and lease all of the Housing Units to Extremely and <br />Very Low Income Households, all at an Affordable Rent (as those terms are defined herein). <br />The execution and recording of this Agreement is a requirement of the DDA. <br />NOW, THEREFORE, the parties hereto agree as follows: <br />l.. Number of Affordable Rental Units. Developer covenants and agrees to make <br />available, restrict occupancy to, and rent the Rental Units at an affordable rent pursuant to <br />Section S below, as follows: <br />ATTACHMENT NO. 7-1 <br />DO CS OO 1400673 v 141200272-0001