Laserfiche WebLink
LS 7.30.15 <br />Moderate Income Households. Thirty -five (35) percent of the income of a <br />household earning one hundred ten (110) percent of the Orange County median <br />income for for -sale units, and thirty (30) percent of the income of a household <br />earning one hundred ten (110) percent of the Orange County median income for <br />rental units, adjusted in either case for family size appropriate for the unit. <br />In the event of a conflict between the fractions specified in this definition and those <br />found in Sections 50052.5 and 50053 of the Health & Safety Code, the fractions <br />specified by State law shall control. <br />. . .. <br />"Developer" means any association, corporation, firm, joint venture, partnership, person, or <br />any entity or combination of entities, which seeks City approval for all or part of a <br />Residential Project. <br />"Executive Director" means the Executive Director of Community Development for the City <br />of Santa Ana. <br />"Inclusionary Housing Agreement" means a legally binding agreement between the <br />Developer and the City, in a form and substance satisfactory to the Executive Director and <br />the City Attorney, and containing those provisions necessary to ensure that the <br />requirements of this Article are satisfied, whether through the provision of Inclusionary <br />Units or through an approved alternative method. <br />"Inclusionary Housing Fund" means the fund created by the City of Santa Ana in which all <br />fees collected in compliance with this Article shall be deposited. <br />"Inclusionary Housing Plan" means the plan submitted by the Developer, in a form <br />specified by the Executive Director, detailing how the provisions of this Article will be <br />implemented for the proposed Residential Project. <br />"Inclusionary Unit" means a dwelling unit that will be offered for sale or rent to Very Low, <br />Low or Moderate - Income Households, at an affordable housing cost, in compliance with <br />this Article. <br />"Low- Income Households" means "lower income households" as that term is defined by <br />Section 50079.5 of the Health & Safety Code. <br />"Low- Income Units, Moderate - Income Units, and Very Low - Income Units" means <br />Inclusionary Units restricted to occupancy by Low, Moderate, or Very Low- Income <br />Households, respectively, at an affordable housing cost. <br />"Market Rate Units" means dwelling units in a Residential Project that are not Inclusionary <br />Units. <br />3 <br />75B -13 <br />