RES 221274 - Laserfiche WebLink

Table 1— Affordable Housing Fee 2. Owner shall construct an Accessory Dwelling Unit (ADU) on each of the lots in the Project. The ADU for each lot shall be constructed at the same time that the primary home on the lot is built. 3. The payment of the Affordable Housing Fee and provision for Accessory Dwelling Units shall be in lieu of providing price restricted affordable housing units on or off of the Property or any other affordable housing programs or units which would otherwise be required as part of the Project and shall fully meet any and all of the requirements of the City's Inclusionary Zoning Ordinance as it may be amended in the future. 4. 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 impose any indemnity or duty to defend obligations on an owner of a single- family home located on the Property. 5. Owner 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. Owner shall be immediately released from its obligations under this Agreement upon such assignment so long as: (i) Owner was not in default of this Agreement at the time of conveyance, (ii) Owner 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 Owner 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. 6. 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. THIS AGREEMENT is executed the date and year first above written. CITY: Page 2 of 3 CURRENT AFFORDABLE HOUSING FEE # OF FOR RESIDENTIAL/SINGLE-FAMILY TOTAL FEE UNITS DETACHED (over 1,500 sq ft) (EFFECTIVE 01.01.2021) 22 $46,076 $1,013,672 2. Owner shall construct an Accessory Dwelling Unit (ADU) on each of the lots in the Project. The ADU for each lot shall be constructed at the same time that the primary home on the lot is built. 3. The payment of the Affordable Housing Fee and provision for Accessory Dwelling Units shall be in lieu of providing price restricted affordable housing units on or off of the Property or any other affordable housing programs or units which would otherwise be required as part of the Project and shall fully meet any and all of the requirements of the City's Inclusionary Zoning Ordinance as it may be amended in the future. 4. 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 impose any indemnity or duty to defend obligations on an owner of a single- family home located on the Property. 5. Owner 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. Owner shall be immediately released from its obligations under this Agreement upon such assignment so long as: (i) Owner was not in default of this Agreement at the time of conveyance, (ii) Owner 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 Owner 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. 6. 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. THIS AGREEMENT is executed the date and year first above written. CITY: Page 2 of 3