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25G - AGMT - INCLUSIONARY HOUSING AGMT
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25G - AGMT - INCLUSIONARY HOUSING AGMT
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Last modified
4/2/2015 4:28:32 PM
Creation date
4/2/2015 3:22:49 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
25G
Date
4/7/2015
Destruction Year
2020
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National Volunteer Antipoverty Programs which include <br />VISTA, Service Learning Programs and Special Volunteer <br />Programs. <br />I], National Older American Volunteer Programs for persons <br />aged 60 and over which include Retired Senior Volunteer <br />Programs, Foster Grandparent Program, Older American <br />Community Services Program, and National Volunteer <br />Program to Assist Small Business Experience, Service <br />Corps of Retired Executive (SCORE) and Active Corps of <br />Executives (ACE). <br />Homobuyer means an Eligible Purchaser that has executed an agreement to <br />purchase an Incluslonary Unit, <br />Homobuyer Purchase Price means the means the original price paid by the <br />Homebuyer to purchase the I i-ClUsionary Unit, exclusive of any closing or <br />transaction costs. The Homebuyer Purchase Price shall not exceed the <br />Affordable Sales Price. <br />HCD means the California Housing and Community Development Department. <br />H&SC shall mean the California Health and Safety Code, <br />Household means all the persons who will occupy the Incluslonary Unitas their <br />Primary Residence. A child who is subject to a legally - binding shared-custody <br />agreement, in which the child resides with the Household at least 50% of the <br />time, is counted as a member of the Household. Excluded from the definition of <br />Household are live-in caregivers/caretakers, foster children, unborn children and <br />children being pursued for legal custody or adoption that are not currently living <br />with the Household. <br />Incluslonary Housing Covenants Declaration means this Declaration of <br />I noluslonary Housing Covenants, Conditions and Restrictions. <br />Incluslonary Housing Fund means a separate fund of the City which is codified <br />in Article XVilirl Section 41-1909 of the City's Municipal Code, The fund was <br />established for the specific purpose of providing the City with funds to assist in <br />the development of housing that is affordable to low and moderate income <br />households. The allowable uses of incluslariary Housing Funds, and the related <br />reporting are described in Attachment I of the Administrative Procedures Manual. <br />Eric] mionary Housing Covenanis Doclaration Page 9 <br />CiEy of Santa Asia Jwuao/ 7715 <br />25G-45 <br />
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