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ATTACHMENT 2 <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 , 2013, by the CITY OF <br />PLEASANTON, a Municipal Corporation ( "City "), and HACIENDA PLEASANTON, L.P., a <br />California limited partnership ( "Developer "). <br />Recitals <br />A. Developer currently owns a 5.60 acre site at 5729 West Las Positas Boulevard, <br />Pleasanton, California, more particularly described in Attachment 1 attaThed hereto and <br />incorporated herein by reference (the "Property "). <br />B. For the Property, Developer has obtained all necessary entitlements to develop a <br />residential housing project consisting of 168 apartment units ( "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 as adjusted by HUD for very low income <br />households, as further adjusted for the household sizes listed in Section 1.B below <br />multiplied by 30% [and a certain number of the apartment units within the Project <br />available at monthly rents no greater than one twelfth of 100% of the Area Median <br />Income, as adjusted by HUD for median income households, as further adjusted for the <br />household sizes listed in Section 1.B below multiplied by 30 %J. <br />D. Area Median Income (AMI) shall mean the area median income for the San Francisco - <br />Oakland- Fremont Metropolitan Statistical Area adjusted for household size in accordance <br />with 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 />E. Execution of this Agreement meets the requirements of the City's Inclusionary Zoning <br />Ordinance and shall be in lieu of paying the City's Lower Income Housing Fee for this <br />Project. <br />NOW, THEREFORE, in consideration of the mutual covenants, agreements and <br />conditions contained herein, City and Developer agree as follows: <br />1 <br />