Laserfiche WebLink
Exhibit B <br /> (Declaration of Affordability Covenants) <br /> RECORDING'REQUESTED BY ) <br /> AND WHEN RECORDED MAIL TO: ) <br /> ) <br /> CITY OF REDWOOD CITY <br /> ATTN: HOUSING <br /> 1017 MIDDLEFIELD ROAD � <br /> REDWOOD CITY, CALIFORNIA 94064 ) <br /> ATTN: � <br /> � <br /> (Space Above Provided For Recorder) Exempt from Recording Fees under Govt.Code Section 27383 <br /> DECLARATION OF AFFORDABILITY COVENANTS <br /> Mezes Court Associates, a California Limited Partnership, hereinafter referred to as <br /> "Contractor," agrees that THIRTY SEVEN (37) units in the Property described in Exhibit <br /> "A" , and more commonly known as City Center Plaza Apartments, located at 950 Main <br /> Street , Redwood City, shall be restricted for a period of Five,�years from the date of <br /> Project Completion. The City defines Project Completion as the date of issuance of the <br /> Certificate of Occupancy, Notice of Completion, or some other document approved by <br /> the City evidencing completion. This restriction will remain continuously affordable to <br /> very low and low-income tenants and will be binding on the Owner and any and all <br /> successors in interest. <br /> The HOME-assisted units are indicated below: <br /> Thirty Seven (37) Proposed Rents for HOME- <br /> HOME-Assisted Assisted Units (Utilities paid 4y <br /> #Bedrooms/Unit Total#Units Units tenant) <br /> Low/High HOME Low/High HOME Rents <br /> Units otal <br /> 1 20 2/7 9 $1,099/$1,409 <br /> 2 32 3/ 12 15 $1,318/$1,693 <br /> 3 22 2/8 10 $1,523/$1,947 <br /> 4 7 1 /2 3 $1,700/$2,153 <br /> Total 81 8/29 37 <br /> (1) HOME Definitions <br /> The followinq definitions and dollar amounts referred to in these definitions may be <br /> adiusted from time to time by HUD or the Citv, and anv such adiustments shall be <br /> REV:08-14-15 RL <br /> Page 22 of 26 <br /> ATTYlAGR.2015.176/MIDPEN City Center Apts Rehab <br />