Laserfiche WebLink
<br />ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT <br />REV: 10-28-2022 VR 3 <br />A G R E E M E N T <br />NOW, THEREFORE, in consideration of the promises, covenants and provisions set forth <br />herein, the receipt and adequacy of which is hereby acknowledged, the Parties agree as follows: <br />ARTICLE 1. DEFINITIONS <br />Section 1.1 Definitions. <br />“33, 44 and 50 Renato Court” is defined in Section 3.2A. <br />“86 Renato Court” is defined in Section 3.2A. <br />“Actual Household Size" means the actual number of persons in the applicable <br />household. <br /> “Affiliate of Developer” means an entity or person that directly or indirectly <br />controls, is co ntrolled by, or is under common control with Developer. For the purposes of this <br />definition, “control” means the possession, direct or indirect, of the power to direct or cause the <br />direction of the management and policies of a person, whether through the ownership of voting <br />securities, by contract, or otherwise, and the terms “controlling” and “controlled” have the <br />meanings correlative to the foregoing. <br />“Affordable Housing Contribution” is defined in Section 3.2C <br />“Affordable Housing Covenants” means the form of Affordable Housing <br />Covenant s attached hereto as Exhibit F. <br />“Affordable Housing Properties” is defined in Section 3.2A. <br />“Affordable Rent” shall be as defined in Health and Safety Code Section 50053 <br />which provides the following formulas for calculation of affordable rent, less an allowance for <br />tenant -paid utilities and other fees and charges required to be paid by tenants on a non-optional <br />basis (e.g., any mandatory ongoing costs the owner requires in connection with tenancy, such as <br />renter’s insurance): for Extremely Low-Income Households, a monthly rent that does not exceed <br />one-twelfth (1/12th) of thirty percent (30%) of thirty percent (30%) of AMI, adjusted for <br />Household Size Appropriate for the Unit . <br />“Agreement” means this Development Agreement. <br />“Agreement Date” is defined in the preamble to this Agreement. <br />“Alternative Transportation Contribution” is defined in Section 3.5B. <br /> “Annual Review Form” is defined in Section 7.1B. <br />“Applicable City Regulations” means (a) the permitted uses of the Property, the <br />maximum density and/or total number of residential units, the intensity of use, the maximum <br />height and size of the proposed buildings, provisions for reservation or dedication of land for public