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Attachment 3 Compliance with Affordable Housing Ordinance Requirements and Findings Compliance with Land Donation Requirements — Section 29.H Per the requirements in Section 29.8H, the land donation proposed will meetthe following requirements: 1. The City has an opportunity to review a preliminary title report for the property to be donated and has approved the condition of title, at its sole and absolute discretion. Under no circumstances may the property to be donated be, at the time of donation, encumbered by any lien securing the repayment of debt or any other security instrument. The title report for the proposed Land Donation Site has been submitted to City staff for review and is not anticipated to be encumbered by any securing the repayment of debt or any other security instrument. 2. The developer transfers fee ownership of the property to the City, or a City approved qualifying designee as defined in the Affordable Housing Guidelines, and the transfer of the property to be donated must occur prior to or concurrent with the issuance of building permits for the residential development project or the nonresidential development project. if the property is donated to a City designee, the grant deed shall contain an irrevocable offer to dedicate the property to the City and an affordable housing restrictive covenant shall be recorded against the property in primary lien position, requiring the donee to provide the City a right of reverter, right of first refusal, an option to acquire the donated property, or any combination thereof approved by the City at its sole and absolute discretion. The property will be transferred to Eden Housing, a Qualified Designee, which will own and operate the affordable housing development. Lane and Eden will ensure that the transfer includes the following: o Recordation of an affordable housing restrictive covenant that includes one or more of the following be provided to the City - right of reverter, right of first refusal, and/or an option to acquire the donated property. The City will determine the form(s) of the restrictive covenant for the land reversion. o An irrevocable offer to dedicate the property to the City in the Grant Deed 3. The developer provides on Affordable Housing Plan prepared in a manner consistent with the requirements in Section 29.7. 10 ATTY/AGR/2024.193.1 — AFFORDABLE HOUSING LAND DONATION AGREEMENT- EXHIBIT B - AFFORDABLE HOUSING PLAN REV: 1D-22-24 VR Page 10 of 48