My WebLink
|
Help
|
About
|
Sign Out
RES 2024040
City of Pleasanton
>
CITY CLERK
>
RESOLUTIONS
>
2020-present
>
2024
>
RES 2024040
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/18/2024 4:24:22 PM
Creation date
6/18/2024 4:22:47 PM
Metadata
Fields
Template:
CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
DESTRUCT DATE
PERMANENT
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
127
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />4879-3324-5885v3 <br />4 <br />“Deed of Trust” is defined in Recital D. <br /> “Eligible Household” means a household for which household Gross Income upon initial <br />occupancy does not exceed the maximum income level for a Restricted Unit as specified in <br />Sections 3.2(c) and 3.2(d) and that includes at least one member who is age 62 or older or other <br />qualifying resident as defined in California Civil Code Section 51.3. <br />“Financial Feasibility” is defined in Section 3.3. <br />“Gross Income” means the applicable household’s total Gross Income as determined in <br />accordance with Section 42(g)(2) of the Internal Revenue Code of 1986, as amended, and <br />applicable federal and CTCAC Regulations. <br /> <br /> “Ground Lease” is defined in Recital B. <br /> <br />“HUD” means the U.S. Department of Housing and Urban Development. <br /> “Indemnitees” means collectively, the City and its elected and appointed officers, <br />officials, employees, agents, contractors, consultants, and representatives. <br />“Initial Affordability Restriction Period” is defined in Section 2. <br />“Loan” is defined in Recital D. <br /> “Marketing Plan” is defined in Section 6.5. <br /> “Note” is defined in Recital D. <br />“Permitted Annual Rent Increase” is defined in Section 3.2(b). <br />“Project” is defined in Recital B. <br />“Property” is defined in Recital A. <br />“Property Management Plan” is defined in Section 6.5. <br />"Restricted Units" means the 198 dwelling units in the Project that are reserved for <br />occupancy at an Affordable Rent by Eligible Households of specified household income levels <br />as set forth in Section 3.2. <br />“Term” is defined in Section 2. <br />2. Term of Agreement; Initial Affordability Restriction Period. <br />2.1 Term. The term of this Agreement (the “Term”) shall be coterminous with the <br />Ground Lease, i.e., this Agreement shall remain in effect for the period commencing on the <br />Effective Date and terminating on the seventy-fifth (75th) anniversary of the Effective Date, <br />subject to the following:
The URL can be used to link to this page
Your browser does not support the video tag.