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EXHIBIT A <br /> Recorded at the Request of <br /> and when recorded, return to: <br /> City of Pleasanton <br /> P.O. Box 520 <br /> Pleasanton, CA 94566 <br /> Exempt per Gov. Code§27383 <br /> AFFORDABLE HOUSING AGREEMENT <br /> This AGREEMENT is made this day of , 2012, by the CITY OF <br /> PLEASANTON, a Municipal Corporation ("City"), and BRE Properties, Inc. a Maryland <br /> corporation ("Developer"). <br /> Recitals <br /> A. Developer has contracted to purchase an 8.418 acre parcel of land at the corner of Willow <br /> Road and Owens Drive in the City of Pleasanton more particularly described in Exhibit A <br /> attached (the "Property" or`BRE Pleasanton Site 1"). <br /> B. For the Property, Developer has obtained all necessary entitlements to develop a mixed <br /> use and residential housing project consisting of 255 apartments and approximately 5700 <br /> square feet of commercial/retail development (PUD 85-08-12D)7 (collectively the <br /> "Project"). <br /> C. Developer and the City wish to make a certain number of the apartment units within the <br /> Project available to households with incomes at or below fifty percent (50%) (very-low <br /> income) of the Area Median Income. <br /> D. Area Median Income shall mean the area median income for the San Francisco-Oakland- <br /> Fremont Metropolitan Statistical Area adjusted for family size in accordance with <br /> adjustment factors adopted and amended from time to time by the United States <br /> Department of Housing and Urban Development (HUD) pursuant to Section 8 of the <br /> United States Housing Act of 1937 or any successor statute. <br /> NOW, THEREFORE, in consideration of the mutual covenants, agreements and <br /> conditions contained herein, City and Developer agree as follows: <br />