Reso25-02 0024 PC Reso 901 El Camino Real

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Page 14 of 42 (b) Upon commencement of construction and continuing until issuance of a certificate of occupancy, Affordable Developer or its successors and assigns acquiring title to the Affordable Site and all contractors working on behalf of Affordable Developer shall maintain a policy of builder’s all-risk insurance in an amount not less than the full insurable cost of the Affordable Development on a replacement cost basis. (c) Upon completion of Affordable Development construction, Affordable Developer or its successors and assigns acquiring title to the Affordable Site and Affordable Development shall maintain property insurance covering all risks of loss (other than flood or earthquake). Section 4.5 Section 8 Certificate Holders. The Affordable Developer will accept as residents, on the same basis as all other prospective residents, persons who are recipients of federal certificates or vouchers for rent subsidies pursuant to the existing housing program under Section 8 of the United States Housing Act, or its successor. The Affordable Developer shall not apply selection criteria to Section 8 certificate or voucher holders that are more burdensome than criteria applied to all other prospective residents, nor shall the Affordable Developer apply or permit the application of management policies or lease provisions with respect to the Affordable Development which have the effect of precluding occupancy of units by such prospective Residents. ARTICLE 5 AFFORDABLE SITE MANAGEMENT AND MAINTENANCE Section 5.1 Management Responsibilities. (a) The Affordable Developer is responsible for all management functions with respect to the Affordable Development, including without limitation the marketing of Affordable Units, selection of residents, certification and recertification of household size and income, evictions, collection of rents and deposits, maintenance, landscaping, routine and extraordinary repairs, replacement of capital items, and security. The City shall have no responsibility over management of the Affordable Development. The Affordable Developer shall retain a professional property management company, approved by the City in its reasonable discretion, to perform its management duties hereunder. A resident manager shall also be required. The Affordable Developer shall submit to the City for approval an initial proposed “Below Market Rate (BMR) Tenant Selection and Management Plan” (the “Management Plan”) no later than six (6) months after the commencement of construction of the Affordable Development, which Management Plan shall include, but not be limited to, details on how Affordable Developer plans to market the Affordable Units to prospective applicants in accordance with all fair housing law, including efforts to affirmatively further fair housing as defined in Government Code 8899.50, and this Agreement, Affordable Developer's tenant selection criteria and how Affordable Developer plans to certify the eligibility of applicants. The Management Plan shall contain all the information required under the Affordable Housing Program Guidelines, including but not limited to describing the management policies, identifying the management team and address how the Affordable Developer and the Management Agent plan to manage and maintain the Affordable Development. The Management Plan shall include the proposed management agreement and the form of rental agreement that the Affordable Developer proposes to enter into with Residents. The City shall approve or disapprove (with written explanation for disapproval) of the proposed Management ATTY/RESO.0024/PC RESO 901 EL CAMINO REV: 04-11-25 VR