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6.B.- Page 5of12 <br />WHEREAS, Contractor has requested to revise the definition of "affordable rent," <br />as used in the Agreement, to be consistent with the requirements in the California Tax <br />Credit Allocation Committee's Regulatory Agreement; and <br />WHEREAS, the Affordable Housing Ordinance definition of "Affordable Rent" <br />allows the City to permit alternatives to specified criteria, when necessary, to be <br />consistent with pertinent state and federal statutes and regulations governing publicly <br />assisted rental housing; and <br />WHEREAS, Contractor and City have agreed to amend the Agreement to <br />provide for alternative criteria as specified below. <br />NOW, THEREFORE, the Parties agree as follows: <br />1. All references to Redwood City Municipal Code Section 18.268 and <br />Chapter 18, Article XVII of Redwood City Code in the Agreement are hereby replaced <br />with Redwood City Zoning Ordinance Section 29.2(C). <br />2. Pursuant to Zoning Ordinance Section 29.2(C), the following alternative <br />criteria are hereby permitted: Contractor will use the occupancy standards, occupancy <br />assumptions, rent levels, and maximum rent payments from the California Tax Credit <br />Allocation Committee's ("TCAC") Regulatory Agreement when utilizing the term <br />"affordable rent" in the Agreement. The Contactor must notify the City in advance of <br />any modifications to the TCAC Regulatory Agreement and must obtain prior written <br />approval from the City Community Development Director of the modifications. The <br />income and household size of all households occupying Assisted Units (as defined in <br />the Agreement) shall be certified by the Contractor prior to occupancy and recertified <br />REV: 04-22-19 DZ <br />Page 2 of 4 <br />ATTY/AGR.Amend No. 1 /MIDPEN MOSAIC GARDENS (ATHERTON COURT) <br />