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P23-0177 – 3200 Hopyard <br />Draft Affordable Housing Agreement <br />Page 1 of 9 <br />P23-0177 – 3200 Hopyard <br />Draft Affordable Housing Agreement <br />Page 1 of 9 <br />P23-0177 – 3200 Hopyard <br />Draft Affordable Housing Agreement <br />Page 1 of 9 <br />ATTACHMENT 2 <br />ALTERNATIVE II – 55 TOTAL UNITS <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 <br />Pleasanton, CA 94566 <br />[This document is exempt from recording fees Pursuant to Government Code§ 27383 and Exempt from Documentary Transfer Tax pursuant To Revenue and Taxation Code§ 11922] <br />AFFORDABLE HOUSING AGREEMENT <br />This AFFORDABLE HOUSING AGREEMENT ("Agreement") is made this day of <br />, 2024, by the CITY OF PLEASANTON, a Municipal Corporation ("City"), and CDP <br />HOPYARD LLC, a Delaware limited liability company (“Owner”). <br />RECITALS <br />A.Owner currently owns a legal or equitable interest in land consisting of <br />approximately three (3.0) 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 (Design Review P23-0177 and <br />Vesting Tentative Tract Map P23-0178) to develop a 55-unit multi-family residential project <br />(collectively the "Project"). <br />C.Owner and the City wish to make a certain number of the units within the Project <br />available for sale to moderate income households, as further described in Attachment 3 attached <br />hereto and incorporated herein by reference (“Affordable Units”). <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 States <br />Department of Housing and Urban Development (HUD) pursuant to Section 8 of the United State <br />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 Project. <br />NOW, THEREFORE, in consideration of the mutual covenants, agreements and <br />conditions contained herein, City and Owner agree as follows: