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Agmt25 1900 Broadway Owner LLC
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Agmt25 1900 Broadway Owner LLC
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Last modified
1/22/2025 10:54:25 AM
Creation date
1/22/2025 10:50:44 AM
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Agreement
PROJECT NAME
Affordable Housing Land Donation Agreement
RMP File Number
304
Date
1/21/2025
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(gg) "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 HUD income limits for the County or the HCD <br />income limits for the County, as applicable. <br />(hh) "Low -Income Rent" means the Affordable Rent permitted to be charged <br />for a Low -Income Unit, and as provided to the Donor annually by the City or as published by <br />CTCAC for 80% AMI households, as applicable. <br />(ii) "Low -Income Units" means Affordable Units required to be occupied by <br />Low -Income Households. <br />0j) "NEPA" means the National Environmental Policy Act of 1969, as set forth <br />in 42 U.S.C. 4321 et seq. <br />(kk) "Ordinance" has the meaning set forth in Recital B above. <br />(11) "Partial Assignment of Development Agreement" has the meaning set <br />forth in Recital D above. <br />(mm) "Project Plans" has the meaning set forth in Section 3.3(a) of this <br />Agreement. <br />(nn) "SEIR" means the Subsequent Environmental Impact Report to the <br />Downtown Precise Plan, certified by the City Council by Resolution No. 16153 on June 26, 2023. <br />(oo) "Term" has the meaning set forth in Section 1.3 of this Agreement. <br />(pp) "Title Company" has the meaning set forth in Section 3.4 of this <br />Agreement <br />(qq) "Very Low -Income Household" means a household with an annual <br />Household Income no greater than the maximum income for very low income households, as <br />published annually by the City for each household size, based on either HUD income limits for <br />the County or the HCD income limits for the County, as applicable. <br />(rr) "Very Low -Income Rent" means the Affordable Rent permitted to be <br />charged for a Very Low -Income Unit, and as provided to the Donor annually by the City or as <br />published by CTCAC for 50% AMI households, as applicable. <br />(ss) "Very Low -Income Units" means Affordable Units required to be <br />occupied by Very Low -Income Households. <br />(tt) "1900 Broadway Project" has the meaning set forth in Recital C above. <br />(uu) "1900 Broadway Project Approvals" means all entitlements, plans, maps, <br />authorizations, development agreements, permits and approvals for the 1900 Broadway Project, <br />approved pursuant to Resolution No. 16257 adopted by City Council of Redwood City on October <br />28, 2024, as described in Recital C above. <br />ATTY/AGR/2024.193.1—AFFORDABLE HOUSING LAND DONATION AGREEMENT <br />REV: 10-22-24 VR <br />Page 7 of 35 <br />
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