Laserfiche WebLink
interest, taxes, fees or charges for use of the land or associated facilities and assessed by a public <br />or private entity other than Owner, and paid by the Resident. <br />V. "Resident" means a household legally occupying a Unit pursuant to a valid <br />lease with Owner. <br />W. "St. Francis" means Saint Francis Center of Redwood City, a California <br />nonprofit public benefit corporation. <br />X. "Term" is defined in Section 2.1 below. <br />Y. "Unit" means one (1) of the fifty-one (5 1) units currently located on the <br />Property as part of the Project. <br />Z. "Very Low Income Household" means a household with an Adjusted <br />Income that does not exceed the qualifying limits for low income households, adjusted for Actual <br />Household Size, as established and amended from time to time pursuant to Section 8 of the United <br />States Housing Act of 1937, and as published by the State of California Department of Housing <br />and Community Development. <br />AA. "Very Low Income Rent" means a monthly rent that does not exceed one - <br />twelfth (1/12th) of thirty percent (30%) of fifty percent (50%) of Median Income, adjusted for <br />Assumed Household Size. <br />ARTICLE 2. <br />AFFORDABILITY COVENANTS <br />Section 2.1 Term. This Agreement commences and is effective as of the date of this <br />Agreement and, unless terminated earlier or extended by the Parties pursuant to this Agreement, <br />ends at the earlier of: (i) fifty-five (55) years from the date that the last Unit is leased to an <br />Extremely Low -Income Household in accordance with the terms of this Agreement as documented <br />in writing provided to City by Owner; or (ii) seventy-five (75) years from the Effective Date. <br />Section 2.2 Occupancy Requirements. The Units shall be occupied by Residents <br />meeting the following income requirements: <br />A. Extremely Low -Income Units. Fifty (50) Units shall be rented to and <br />occupied by or, if vacant, available for occupancy by Extremely Low -Income Households; and <br />B. Manager's Unit. One (1) two-bedroom Unit shall be available for <br />designation as the manager's unit and shall not be restricted. <br />C. Fair Housing. The Property and Improvements shall be operated at all times <br />in compliance with the provisions of. (1) the Unruh Act; (2) the California Fair Employment and <br />Housing Act, (3) Section 504 of the Rehabilitation Act of 1973; (4) the United States Fair Housing <br />Act, as amended, and (5) any other applicable law or regulation (including the Americans With <br />Disabilities Act, to the extent applicable to the Property and the Improvements). Owner agrees to <br />indemnify, protect, hold harmless and defend (by counsel reasonably satisfactory to the City) the <br />AM/AGR/2022.389.01- HARBOR VIEW PROTECT DA—AFFORDABLE HOUSING COVENANT (36, 44, AND 70 RENATO COURT) <br />REV: 03-15-23 VR <br />Page 4 of 22 <br />