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07/22/2013 <br /> Exhibit A <br /> (Program and Project Description) <br /> PROGRAM/PROJECT DESCRIPTION & REQUIREMENTS <br /> 1. Proiect Description and Eliqible Costs: Funds hereunder are provided pursuant to <br /> Section 570.201 of the Code of Federal Regulations for the Community Development <br /> Block Grant Program (CDBG) Program. CDBG funds of $400,000.00 provided under <br /> this Agreement shall be used to assist in the acquisition of a site located at 105 5tn <br /> Avenue, Redwood City, California ("Project" or "Property").to construct affordable <br /> permanent supportive rental housing for adults with disabilities. MHA shall use the <br /> funds provided hereunder for the advancement of programs that provide affordable <br /> housing to very low-income special needs residents of the City. <br /> The rental housing that will be constructed on the site acquired with the assistance of <br /> CDBG funds provided under this Agreement will meet all applicable state and local <br /> codes, ordinances and housing standards. Contractor must maintain Property in <br /> accordance with property standards throughout the affordability period in addition to all <br /> other applicable laws, ordinances, rules and regulations of federal, state, county or <br /> municipal governments or agencies now in force or that may be enacted hereafter that <br /> govern the Project. <br /> The Project is a site acquisition for the purpose of development of permanent <br /> supportive rental housing. The developer anticipates the development will include <br /> approximately 16 rental units and estimates the initial occupancy will be in May, 2016. A <br /> total of 8 units will be subject to CDBG income, rent and occupancy requirements. The <br /> table below is the estimated Project acquisition budget. Funds for this Project in <br /> addition to the City CDBG assistance are provided by the Contractor and HEART and <br /> changes to the budget are subject to approval by the City: <br /> Total Site Acquisition Cost: $1,200,000 <br /> Sources: <br /> Housing Endowment and Regional $700,000 <br /> Trust of San Mateo County <br /> HEART <br /> Redwood Cit - CDBG $400,000 <br /> MHA $100,000 <br /> 2. Use: Contractor shall use the Property exclusively for permanent supportive rental <br /> housing for adults with disabilities. If contractor discontinues this stated use at �he <br /> subject Property, or uses the Property or any portion thereof, for purposes other than <br /> what has been described in the this Paragraph without first obtaining the prior written <br /> consent of the City, Contractor shall be in default of this Agreement and agrees to pay <br /> the City, upon demand, the full amount of the CDBG funds provided to assist in the <br /> acquisition of the property, provided however Contractor shall have thirty (30) days to <br /> cure the default after receipt of a notice of default is provided in writing by the City. The <br /> restrictions imposed upon the Property as set forth in this paragraph shall remain in full <br /> RESO.#15282 <br /> MUFF#608 <br />