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55C - RESO - SA ARTS COLLECTIVE
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55C - RESO - SA ARTS COLLECTIVE
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Last modified
6/29/2017 5:23:56 PM
Creation date
6/29/2017 5:15:07 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
55C
Date
7/5/2017
Destruction Year
2022
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"Developer's Representative" shall mean an officer of the General <br />Partner of Developer or his/her designee. <br />"Extremely Low Income" means an adjusted income which does not <br />exceed thirty percent (30%) of the area median income for the Orange County, <br />California PMSA, adjusted for household size, as published by HUD. <br />"Event of Default" has the meaning set forth in Section 20.1. <br />"General Partner" means the Santa Ana Arts Collective, LLC, a <br />California limited liability company, and WCH Affordable XVIII, LLC, a California <br />limited liability company. <br />"Governmental Authority" means any governmental or quasi <br />governmental agency, board, bureau, commission, department, court, administrative <br />tribunal or other instrumentality or authority, and any public utility. <br />"Hazardous Materials" means flammable materials, explosives, <br />radioactive materials, hazardous wastes, toxic substances and similar substances <br />and materials, including all substances and materials defined as hazardous or toxic <br />wastes, substances or materials under any applicable law, including without <br />limitation the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 et <br />seci., and the Comprehensive Environmental Response, Compensation and <br />Liability Act of 1980, 42 U.S.C. §§ 9601, et seq., as amended. <br />"Housing Opportunity Ordinance" means the Santa Ana Ordinance No. <br />NS -2881, and as such terms may be amended by the Santa Ana City Council in the <br />future. <br />"HUD" means the United States Department of Housing and Urban <br />Development and any successors or assigns thereof. <br />"Improvements" means all improvements and fixtures now and hereafter <br />comprising any portion of the Property, including, without limitation, landscaping, trees <br />and plant materials; and offsite improvements, as required through the City of Santa Ana <br />Planning and Building Agency entitlement process. <br />"Inclusionary Deed of Trust" means the deed of trust encumbering the <br />Property, in the form attached hereto as Exhibit C, to be executed by Developer pursuant <br />to Section 5.B.1 in order to secure the Inclusionary Promissory Note. <br />"Inclusionary Housing Fund" means the fund created by the City of <br />Santa Ana in which all fees collected in compliance with the Housing Opportunity <br />Ordinance shall be deposited, as defined by Santa Ana Municipal Code section 41-1901 <br />and applied by Santa Ana Municipal Code section 41-1909. <br />"Inclusionary Loan" means the Inclusionary Funds that will be awarded <br />55C-11 <br />
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