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Attachment No. 2 - Major Terms for Negotiations <br />Sales Price: The purchase price for the property shall be $1.00, subject to confirmation by a <br />fair reuse analysis as established by a report prepared pursuant to California Health and Safety <br />Code section 33433. Should said report not support this sales price, then Developer may choose <br />to (i) acquire the Site at the minimum level of support justified by said report, or (ii) terminate <br />this Agreement. <br />Additional Agency Assistance: The Agency shall pay for all application fees and permit fees or <br />costs associated seeking City of Santa Ana entitlements. Additionally, the Agency will contribute <br />an amount not to exceed $100,000.00 for an enhanced entryway to the development, with plans <br />and materials subject to prior Agency approval. <br />Economic Feasibility: The Developer will provide the Agency with a detailed cost estimate and <br />pro forma to be utilized in the preparation of the DDA including financing sources including <br />loans and tax credits. <br />Pronosed Development: Went: The Developer will develop and build and own a 41 unit special needs <br />housing project, made up of primarily one - bedroom and studio units with a multi use clubhouse, <br />on the Site (herein referred to as the "Project "). The current concept plan of the Project, which is <br />subject to modification as the Project moves forward, is attached hereto as "Exhibit A to <br />Attachment No. 2." <br />Income Limits: The Developer will certify the income levels of person(s) /households residing in <br />the units to maintain extremely low, very low and low- income affordability for a 55 year period. <br />Property Management: The Developer will utilize a full -time on -site property manager with <br />qualifications reasonably acceptable to the Agency. <br />Environmental Analysis: The project is subject to the California Environmental Quality Act <br />( "CEQA "), and nothing contained herein shall be deemed a determination by the Agency as to <br />the impacts of the Project on the environment or a waiver of the Agency's rights and obligations <br />with respect to the review of such impacts. The Project must comply with the requirements of <br />CEQA. <br />Full Compliance with City Standards: The Developer shall comply with all City of Santa Ana <br />zoning and land use standards applicable to the Site, including but not limited to Santa Ana <br />Design and Development Standards for Parking Lots. The Developer will be responsible for any <br />offsite public work improvements necessitated by the development of the project (e.g., water and <br />sewer hookups). <br />Processing of Entitlements: The Developer will be responsible for submitting and processing <br />needed applications for City entitlements, including site plan, general plan and zoning <br />amendments, conditional use permit (CUP), tentative parcel map, environmental documentation <br />and variance, if any. <br />2.A. -11 <br />