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(s) "Extremely Low -Income Units" means Affordable Units required to be <br />occupied by Extremely Low -Income Households. <br />(t) "HCD" means the California Department of Housing and Community <br />Development. <br />(u) "Household Income" means the total anticipated annual income of all <br />persons in a household, as calculated in accordance with 25 California Code of Regulations <br />Section 6914 or pursuant to a successor State housing program that utilizes a reasonably similar <br />method of calculation of adjusted income. In the event that no such program exists, the City <br />shall provide the Owner with a reasonably similar method of calculation of adjusted income as <br />provided in said Section 6914. For Affordable Units that are subject to Affordable Rents as <br />provided by CTCAC, the Household Income shall be set at an amount consistent with the <br />household income levels as determined by the CTCAC. <br />(v) "Inclusionary Units" has the meaning set forth in Recital C above. <br />(w) "Investor Limited Partner" means (if applicable), the tax credit limited <br />partner or partners, and their respective successors and assigns, admitted to the Owner's <br />partnership in connection with the issuance of low income housing tax credits to the Affordable <br />Project. <br />(x) "Low -Income Household" means a household with an annual Household <br />Income no greater than the maximum income for low-income households, as published annually <br />by the City for each household size, based on either United States Department of Housing and <br />Urban Development (HUD) income limits for San Mateo County or the California Department <br />of Housing and Community Development (HCD) income limits for San Mateo County, as <br />applicable. <br />(y) "Low -Income Rent" means the Affordable Rent permitted to be charged <br />for a Low -Income Unit, and as provided to the Owner annually by the City or as published by <br />CTCAC for 80% AMI households, as applicable. <br />(z) "Low -Income Units" means Affordable Units required to be occupied by <br />Low -Income Households. <br />(aa) "Management Agent" has the meaning set forth in Section 5.2 below. <br />(bb) "Management Plan" has the meaning set forth in Section 5.1 below. <br />(cc) "Owner" has the meaning set forth in the preamble above. <br />(dd) "Rent" means the total of monthly payments by the Resident for the <br />following: <br />G <br />1199\10\3491196.8 <br />REV: 10-18-23 SK <br />