11B - 2ND READ ORD - HOUSING OPPORTUNITY ORD - HOO

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LS 8.25.15 "Developer" means any association, corporation, firm, joint venture, partnership, person, or any entity or combination of entities, which seeks City approval for all or part of a Residential Project. "Executive Director" means the Executive Director of Community Development for the City of Santa Ana. " Inclusionary Housing Agreement" means a legally binding agreement between the Developer and the City, in a form and substance satisfactory to the Executive Director and the City Attorney, and containing those provisions necessary to ensure that the requirements of this Article are satisfied, whether through the provision of Inclusionary Units or through an approved alternative method. " Inclusionary Housing Fund" means the fund created by the City of Santa Ana in which all fees collected in compliance with this Article shall be deposited. "Inclusionary Housing Plan" means the plan submitted by the Developer, in a form specified by the Executive Director, detailing how the provisions of this Article will be implemented for the proposed Residential Project. "Inclusionary Unit' means a dwelling unit that will be offered for sale or rent to Very Low or Low Income Households, at an affordable housing cost, in compliance with this Article. "Low- Income Households" or "Lower income households" means persons and families whose income does not exceed the qualifying limits for lower income families as established and amended from time to time pursuant to Section 8 of the United States Housing Act of 1937. The limits shall be published in the California Code of Regulations as soon as possible after adoption by the Secretary of Housing and Urban Development. In the event the federal standards are discontinued, the California Department of Housing and Community Development shall, by regulation, establish income limits for lower income households for all geographic areas of the state at eighty (80 %) percent of area median income, adjusted for family size and revised annually. Lower income households includes very low income households, as defined in the Health & Safety Code, Section 50105, and extremely low income households, as defined in Section 50106. "Low- Income Units and Very Low - Income Units" means Inclusionary Units restricted to occupancy by Low or Very Low- Income Households, respectively, at an affordable housing cost. "Market Rate Units" means dwelling units in a Residential Project that are not Inclusionary Units. "Pipeline Project" means any project for which an application was submitted and the application was deemed complete prior to August 4, 2015. 3 11B-5