Laserfiche WebLink
E. Development Agreement No. 2007 -01, as originally approved and <br />effective, was in effect at the time of the adoption of the Ordinance and <br />addressed the affordable housing requirements for the Project, Therefore, <br />pursuant to Section 41- 1903(b) of the Ordinance, the Project was exempt <br />from the requirements of the Ordinance. <br />F. The DA, however, provides, among other things, as follows: <br />"5.9 Inclusionary Housing, Owner shall produce and incorporate a total <br />of ten (10) low- income affordable units, including five (5) one bedroom <br />units and five (5) two- bedroom units, within the Project pursuant to the <br />terms and regulations of Article XVIII.I of Chapter 41 of the Santa Ana <br />Municipal Code," <br />G. Prior to the signing of this Inclusionary Housing Agreement, the Program <br />Director, acting on behalf of the City, approved an Inclusionary Housing <br />Plan that was prepared by the Property Owner in accordance with the <br />requirements of the DA and consistent with the standards for inclusionary <br />units set forth in Section 41 -1906 of the Ordinance. <br />H. This Inclusionary Housing Agreement, when fully executed by the City and <br />the Property Owner and recorded, is intended to satisfy the requirement <br />that the Property Owner enter into an Inclusionary Housing Agreement as <br />contemplated by the DA. <br />NOW THEREFORE, in consideration of the mutual promises set forth in this <br />Inclusionary Housing Agreement and other good and valuable consideration, the <br />receipt and sufficiency of which is acknowledged by the City and the Property <br />Owner, the Parties, agree as follows: <br />DEFINITIONS OF TERMS <br />The following words, terms and phrases are used in this Inclusionary Housing <br />Agreement unless the particular context of usage of a word, term or phrase <br />requires another interpretation. <br />Affordability Covenants shall mean the Gross Household Income and <br />Affordable Rent standards that will be applied to the Inclusionary Units <br />Incrus ion ary Housing Agreement— Rental Project Page <br />City of Santa Ana 19H-4 September 18, 2014 <br />