RES 17933 - Laserfiche WebLink

Unit Plan Plan Size(S.F.) Proposed Current Affordable Total Amount Per Type Number of Affordable Housing Unit (Total of Units Housing Fee Contribution Affordable per Unit per Unit based Housing Fee plus (effective on design plan Affordable 1/1/17) Housing Contribution) Plan IC 2,451 10 $11,627 $11,565 $23,192 Plan 2B 2,637 7 $11,627 $12,548 $24,175 Plan 1XC 3,000 2 $11,627 $15,560 $27,187 Plan 2XB 3,122 9 $11,627 $16,298 $27,925 Plan 3A 3215 8 $11,627 $17,036 $28,663 3. In accordance with Pleasanton Municipal Code Section 17.40.100, Developer shall pay the Lower Income Housing Fee,and Developer has agreed to also pay the Affordable Housing Contribution,at the time of the issuance of a building permit for each residential unit in the Project. 4. The payment of the Lower Income Housing Fee shall be in lieu of providing price restricted affordable housing on or off of the Property or any other affordable housing programs or units as part of the Project and shall fully meet the requirements of the City's Inclusionary Zoning Ordinance(Ordinance 1818). 5. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, heirs, administrators and assigns. However, in no event shall this Agreement be binding or impose any obligations (including but not limited any indemnity or duty to defend obligations) on an owner of a single family home located on the Property. 6. Developer shall have the right to transfer and assign all of its rights, duties and obligations under this Agreement to any person or entity acquiring fee simple title to any portion of the Property. Developer shall be immediately released from its obligations under this Agreement upon such assignment so long as: (i) Developer was not in default of this Agreement at the time of conveyance, (ii) Developer provided to City prior written notice of such transfer, and (iii)the transferee executes and delivers to City a written assumption agreement in which: (1) the name and address of the transferee is set forth, and (2) the transferee expressly assumes the obligations of Developer under this Agreement. Failure to deliver a written assumption agreement hereunder shall not negate, modify or otherwise affect the liability of any transferee pursuant to the provisions of this Agreement. Nothing herein contained shall be deemed to grant to City discretion to approve or deny any such transfer. 7. The execution and delivery of this Agreement shall not be deemed to confer any rights upon, nor obligate either of the parties hereto to, any person or entity not a party to this Agreement.