Agmt21 ROEM Project at 353 Main - Laserfiche WebLink

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(yy) "Permanent Financing" means the sources of approved permanent financing as listed in the approved Financing Plan. (zz) "Project Area" has the meaning set forth in Recital B. (aaa) "Promissory Note" means the promissory note that will evidence the Developer's obligation to repay the Loan as set forth in this Agreement, substantially in the form attached hereto as Exhibit F. (bbb) "Property" has the meaning set forth in Recital E. (ccc) "Redevelopment Plan" has the meaning set forth in Recital B. (ddd) "Regulatory Agreement" means the Regulatory Agreement and Declaration of Restrictive Covenants that will be recorded in the Official Records against the Developer's fee interest of the Property upon the Close of Escrow and will restrict the development of the Property to affordable housing, substantially in the form attached hereto as Exhibit E. (eee) "Resident Services Budget" shall have the meaning specified in Section 5.9(a). (fff) "Resident Services Plan" shall have the meaning specified in Section 5.9(a). (ggg) "Residual Receipts" in a particular Fiscal Year shall mean the amount by which Gross Revenue exceeds Annual Operating Expenses. (hhh) "Scope of Development" means the description of the basic physical characteristics of the Development, including a basic site plan, which will serve as a basis for the Developer's application for the governmental approvals and for the preparation of the Construction Plans. The Scope of Development is attached to this Agreement as Exhibit C. (iii) "Security Financing Interest" has the meaning set forth in Section 9.1. 0J)"Sponsor" or "Sponsors" means the general partners of the Partnership. (kkk) "Tax Credit Funds" means the proceeds from the sale of a partnership interest in the Developer to the Investor Limited Partner in the amount approved by the City in the approved Financing Plan. (111)"Tax Credit Reservation" means a preliminary reservation of Tax Credits from TCAC. (mmm)"Tax Credits" means federal low-income housing tax credits established pursuant to Section 42 of the Internal Revenue Code of 1986, as amended. (nnn) "TCAC" means the California Tax Credit Allocation Committee. REV: 06-17-2020 PR 1199\09\2727850.8 ATTY/AGR.2020.100/353 Main Street Apartments LP (Page 15 of 143)