RecDoc 2022-044651 CONF - Laserfiche WebLink

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Income Household or Moderate Income Household to meet the requirements of Section 2.1 above. (c) _Termination of Occupancy. Upon termination of occupancy of a Unit by a Resident, such Unit shall be deemed to be continuously occupied by a household of the same income level (e.g., Low Income Household or Moderate -Income Household) as the income level of the vacating Resident, until such Unit is reoccupied, at which time the income character of the Unit (e.g., Low Income Unit or Moderate -Income Unit) shall be redetermined. In any event, Owner shall maintain the occupancy requirements set forth in section 2.1 above. 2.4 Resident Selection. (a) Prior to initial rent up of the Units, the Owner must provide the City for its review and approval the Owner's written Resident Selection and Marketing Plan as defined in Section 5.2 below for the Low -Income Units and the Moderate -Income Units. The City's failure to respond to Owner's request for approval of the written marketing plan within ten (10) business days of City's receipt of such marketing plan, shall be deemed City's approval of such plan. (b) The Owner shall not discriminate against any applicants for tenancy on the basis of source of income or rent payment (for example, without limitation, Temporary Assistance for Needy Families (TANF) or Section 8), and the Owner shall consider a prospective Resident's previous rent history of at least one (1) year, or such other time period the Owner deems reasonable, as evidence of the prospective Resident's ability to pay the applicable Rent. The ability to pay shall be demonstrated if the prospective Resident can document that, the prospective Resident's gross income is at least two (2) times the prospective rent. The Owner, in the reasonable exercise of its discretion, may waive the requirement that the prospective Resident's gross income equal at least two (2) times the prospective rent, and admit prospective Residents with lower gross incomes. 2.5 Lease Provisions. The Owner shall include in leases for all Affordable Units provisions, which authorize the Owner to immediately terminate the tenancy of any household one or more of whose members misrepresented any fact material to the household's qualification as a Low -Income Household or Moderate -Income Household, as applicable. Each lease or rental agreement shall also provide that the household is subject to annual certification in accordance with Section 3.1 below, and that, if the household's income increases above the applicable limits for a Low -Income Household or Moderate -Income Household, as applicable, such household's Rent may be subject to increase. 2.6 Condominium Conversion. The Owner shall not convert the Project to condominium or cooperative ownership or sell condominium or cooperative conversion rights to the Property during the Term of this Agreement. 2.7 Units Available to the Disabled. IQHQ shall construct the Project to comply with all applicable federal and state disabled persons accessibility requirements including the Federal Fair Housing Act, Title II and/or Title III of the Americans with Disabilities Act of 1990, and Title 24 of the California Code of Regulations, to the extent applicable. REV: 04-07-2022 5K ATTY/AGR.2022.067/IQHQ Elco Yards, LP and Kopf & Kopf LLC (Page 6 of 19)