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Exhibit A <br /> Recorded at the request of <br /> and when recorded return to: <br /> City of Pleasanton Office <br /> of the City Clerk <br /> P. O. Box 520 Pleasanton, <br /> CA 94566 <br /> [This document is exempt from recording fees <br /> Pursuant to Government Code§27383 and <br /> Exempt from Documentary Transfer Tax pursuant <br /> To Revenue and Taxation Code§ 11922] <br /> AFFORDABLE HOUSING AGREEMENT <br /> This AFFORDABLE HOUSING AGREEMENT ("Agreement") is made this day <br /> of , 202_, by the CITY OF PLEASANTON, a Municipal Corporation ("City"), and <br /> STONERIDGE PROPERTIES, LLC, a Delaware limited liability company, doing business in <br /> California as STONERIDGE ASSOCIATES, LLC, successor in interest to SECURITY TRUST <br /> COMPANY, as TRUSTEE under TRUST NO. 1860-0 ("Owner"). <br /> RECITALS <br /> A. Owner currently owns a legal or equitable interest in land consisting of <br /> approximately six (6.0) acres in Pleasanton, California, more particularly described in <br /> Attachment 1 attached hereto and incorporated herein by reference (the "Property"). <br /> B. For the Property, Owner has obtained City approval (PUD- to develop a <br /> 360-unit multi-family residential project (collectively the "Project"). <br /> C. Developer and the City wish to make a certain number of the apartment units <br /> within the Project available to households with incomes generally at or below eighty percent <br /> (80%) (low income) of the Area Median Income. <br /> D. Area Median Income (AMI) shall mean the area median income for the San <br /> Francisco-Oakland-Fremont Metropolitan Statistical Area adjusted for household size in <br /> accordance with adjustment factors adopted and amended from time to time by the United <br /> States Department of Housing and Urban Development (HUD) pursuant to Section 8 of the <br /> United State Housing Act of 1937 or any successor statute. <br /> E. Execution of this Agreement meets the requirements of the City's Inclusionary <br /> Zoning Ordinance for the apartment units and shall be in lieu of paying the City's "Lower <br /> Income" Housing Fee for the project. <br /> NOW, THEREFORE, in consideration of the mutual covenants, agreements and <br /> conditions contained herein, City and Owner agree as follows: <br /> 1. Of the 360 apartment units, 58 shall be "Affordable" units. Developer shall make all <br /> Affordable units available for rent to households generally at or below 80% of the Area <br /> 1 <br /> 158739848.5 <br />