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RES 2024040
City of Pleasanton
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CITY CLERK
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RES 2024040
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6/18/2024 4:24:22 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
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<br />4879-3324-5885v3 <br />3 <br /> “Actual Household Size" means the actual number of persons in the applicable <br />household. <br />“Adjusted for Family Size Appropriate for the Unit” shall be determined consistent <br />with Section 42(g)(2) of the Internal Revenue Code of 1986 as amended, and applicable federal <br />and CTCAC regulations. <br /> <br />"Affordable Rent" means a monthly rent less a utility allowance and other fees and <br />charges required to be paid by tenants of the Project on a non-optional basis in the amount not <br />greater than the maximum rents specified in CTCAC Regulations for households of the <br />applicable Area Median Income categories as set forth in Sections 3.2(c) and 3.2(d) of this <br />Agreement. <br /> <br />“Affordable Housing Monitoring Fee” is defined in Section 4.3. <br /> <br />“Annual Report” is defined in Section 4.4. <br />“Applicable Rules and Regulations” means the State of California and federal rules and <br />regulations applicable to the Project, including without limitation, Sections 42 and 142 of the <br />Internal Revenue Code of 1986, as amended, Treasury Regulations 26 CFR §1.42 et seq., and the <br />CTCAC Regulations. <br /> <br />“Area Median Income” or “AMI” means the median income for Alameda County, <br />California, adjusted for Actual Household Size, as determined by HUD pursuant to Section 8 of <br />the United States Housing Act of 1937 and as published from time to time by the State of <br />California Department of Housing and Community Development (“HCD”) in Section 6932 of <br />Title 25 of the California Code of Regulations or successor provision published pursuant to <br />California Health and Safety Code Section 50093(c). <br /> <br />“City’s Authorized Representative” means the City Manager of the City of <br />Pleasanton. <br /> <br />“City Documents” means collectively, the Loan Agreement, the Note, the Deed of <br />Trust, the Ground Lease, and this Agreement. <br /> “Claims” means collectively, liabilities, losses, costs, expenses (including without <br />limitation attorneys’ fees and costs of litigation), claims, demands, actions, suits, judicial or <br />administrative proceedings, penalties, deficiencies, fines, orders, and damages. <br />“CTCAC” means the California Tax Credit Allocation Committee. <br />“CTCAC Regulations” means collectively, the CTCAC regulations published at <br />Title 24 California Code of Regulations Section 10300 et seq., as may hereafter be <br />amended, and CTCAC memoranda published annually setting forth maximum household <br />income limits and maximum rents for projects financed with low-income housing tax <br />credits. <br />
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