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If used for a condominium/townhome development: 1.5 IUC's for each <br /> affordable unit required. <br /> Senior housing single family unit: 1.5 IUC's for each affordable unit <br /> required. <br /> Single family housing: 2 IUC's for each affordable units required. <br /> c. If Owner utilizes the IUC's on the Option Site, then (1) any project proposed on <br /> the Option site must be consistent with the IZO and (2) the percentage of <br /> affordable dwelling units on the entire Busch Property must be at least 24% of the <br /> total number of dwelling units on the Property. For example, if Owner develops a <br /> 125 dwelling unit multi- family project on the Option Site, then owner will utilize <br /> 19 IUC's to satisfy its affordable housing obligation under IZO (125 dwelling <br /> units x 15% Affordable 19 units). In that example, the percentage of affordable <br /> dwelling units on the entire Busch Property (138 19 157) 13 more than 24% of <br /> the total number of dwelling units on the Busch Property (363 125 488). <br /> d. Owner intends to use the IUC's on the Option Site. Should the PUSD Option <br /> expire or be terminated by PUSD prior to the expiration of the Option, Owner <br /> may use the IUC's on the Option Site as provided in paragraph (a) above. Owner <br /> may use the NC's on property other than the Option Site, subject to paragraph (a) <br /> above and subject to City's discretionary approval. <br /> Section 2. In all other respects, the terns and provisions of the Agreement are unmodified <br /> and continue in full force and effect. <br /> Richard D. Baker, President <br /> Mor: h, 'cc President <br /> Nelson Fial ity Manager <br /> ATTE T: <br /> Karen Diaz, City Cler <br /> APPROVED AS TO FORM: <br /> 1 <br /> Michael Roush, City Attorney <br /> 0, m rnd IS by pate) <br /> -2- <br />