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Inclusionary Housing Covenants Declaration means the Declaration of <br />Inclusionary Housing Covenants, Conditions and Restrictions attached hereto as <br />Exhibit 5. <br />Inclusionary Housing Fund means a separate fund of the City which is codified <br />in Article XVIII.1 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 Inclusionary Housing Funds, and the related <br />reporting are described in Attachment I of the Administrative Procedures Manual. <br />Inclusionary Housing Plan means a plan submitted for approval to the Program <br />Director that details the manner in which the Inclusionary Housing obligations will <br />be fulfilled by the Project. The Inclusionary Housing Plan form is presented in <br />Attachment B of the Administrative Procedures Manual, and also attached as <br />Exhibit 3 to this Inclusionary Housing Agreement. <br />Inclusionary Unit means a completed affordable owner -occupied housing unit, <br />including the landscape improvements thereon, if any, that is made available for <br />sale to an Eligible Purchaser. The location of each Inclusionary Unit in the <br />Project is shown on Exhibit 3 to this Inclusionary Housing Agreement. <br />Inclusionary Unit Escrow means the escrow transaction by and between the <br />Developer and each Homebuyer, through which the Developer shall transfer fee <br />title in each completed Inclusionary Unit to an Eligible Purchaser. <br />In -Lieu Fee refers to a fee that may be paid by the Property Owner in specific <br />circumstances in lieu of providing Inclusionary Units within a Project. These <br />circumstances are identified in Section II -A of the Administrative Procedures <br />Manual. The In -Lieu Fee calculation worksheet is updated quarterly. The <br />current Affordable Housing In -Lieu Fee calculation worksheet schedule is <br />presented in Attachment J of the Administrative Procedures Manual. <br />Market Rate Unit means any unit in the Project that is not restricted for <br />ownership and occupancy by Eligible Purchasers. <br />Median Income is calculated by HCD using non -aggregated census income data <br />and applying trending factors for metropolitan statistical areas (MSA) throughout <br />the country. The MSA for Santa Ana is Orange County. The current household <br />income information is presented in Attachment I of the Administrative Procedures <br />Manual. <br />Incluslonary Housing Agreement - Ownership Project Page 8 <br />City of Santa Ana <br />32A-38 <br />