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<br /> <br />Exhibit F-3 <br />ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT <br />REV: 10-28-2022 VR <br />for Actual Household Size, as established and amended from time to time pursuant to Section 8 of <br />the United States Housing Act of 1937, and as published by the State of California Department of <br />Housing and Community Development. <br />I. “Extremely Low-Income Rent” means a monthly rent that does not exceed <br />one-twelfth (1/12th) of thirty percent (30%) of thirty percent (30%) of Median Income, adjusted <br />for Assumed Household Size. <br />J. “Extremely Low-Income Unit” means the Units, which, pursuant to Section <br />2.1.A. below, are required to be occupied by Extremely Low-Income Households. <br />K. “Improvements” means the approximately [INSERT FOR 33, 44 AND 50 <br />RENATO COURT – “fifty (50) units of affordable housing and one unrestricted manager's unit” <br />or INSERT FOR 86 RENATO COURT - “fourteen (14) units of affordable housing”], located on <br />the Property, all common areas, amenities, plans, entitlements, appurtenances, improvement <br />easements, buildings and fixtures associated with the Property. <br />L. “Local Preference” is defined in Section 4.5. <br />M. “Low Income Household” means a household with an Adjusted Income that <br />does not exceed the qualifying limits for low income households, adjusted for Actual Household <br />Size, as established and amended from time to time pursuant to Section 8 of the United States <br />Housing Act of 1937, and as published by the State of California Department of Housing and <br />Community Development. <br />N. “Low Income Rent” means a monthly rent that does not exceed one-twelfth <br />(1/12th) of thirty percent (30%) of eighty percent (80%) of Median Income, adjusted for Assumed <br />Household Size. <br />O. “Management Agent” is defined in Section 5.2. <br />P. “Management Plan” defined in Section 5.1. <br />Q. “Median Income” means the median gross yearly income adjusted for <br />Actual Household Size (to qualify residents) or Assumed Household Size (to calculate rents), as <br />applicable, in the County of San Mateo, California, as published from time to time by the State of <br />California Department of Housing and Community Development. In the event that such income <br />determinations are no longer published, or are not updated for a period of at least eighteen (18) <br />months, the City shall provide the Owner with other income determinations which are reasonably <br />similar with respect to methods of calculation to those previously published by the State of <br />California Department of Housing and Community Development. <br />R. “Owner” means Saint Francis Center of Redwood City, a California <br />nonprofit public benefit corporation, and its successors and assigns. <br />S. “Project” means the Property and the Improvements.