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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 />Exhibit A <br />(This document Is exempt from recor Ing ees <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 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 eight one -bedroom units within the Project <br />available for sale to households with incomes at 100% of Area Median Income (AMI), also <br />described as "median income households" or moderate income households, as further described <br />in Attachment 3 attached hereto and incorporated herein by reference ("Affordable Units"), as <br />appropriate for Owner building eight (8) Affordable Units on-site to receive a payment of $375,000 <br />per Affordable Unit. <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: <br />P23-0177 — 3200 Hopyard <br />Draft Affordable Housing Agreement <br />Page 1 of 12 <br />102657\17581921 v2 <br />