Agmt25 El Camino Real Holding JV LLC, - 920 Shasta

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ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT REV: 10-16-25 VR Page 7 of 41 hazardous pursuant to Title 22 of the California Code of Regulations, Division 4.5, Chapter 11, Article 4, Sections 66261.30 et seq.; (ii) defined as a “hazardous waste” pursuant to Section 6903 of the Federal Resource Conservation and Recovery Act (42 U.S.C., § 6901 et seq.), or (iii) defined as a “hazardous substance” pursuant to Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C., § 9601 et seq.). (bb) “HCD” means the California Department of Housing and Community Development. (cc) “Household Income” means the total anticipated annual income of all persons in a household, as calculated in accordance with state or federal law or pursuant to a successor State housing program that utilizes a reasonably similar method of calculation of adjusted income. In the event that no such program exists, the City shall provide the Qualified Designee with a reasonably similar method of calculation of adjusted income as provided in said Section 6914. For Affordable Units that are subject to Affordable Rents as provided by CTCAC, the Household Income shall be set at an amount consistent with the household income levels as determined by the CTCAC. (dd) “Housing Element Update EIR” has the meaning set forth in Recital O. (ee) “Housing Element Update MMRP” has the meaning set forth in Recital O. (ff) “HUD” means the United States Department of Housing and Urban Development. (gg) “Irrevocable Offer to Dedicate” means that certain Irrevocable Offer to Dedicate, in the form attached hereto as Exhibit D, incorporated herein by this reference. (hh) “Low-Income Household” means a household with an annual Household Income no greater than the maximum income for low-income households, as published annually by the City for each household size, based on either HUD income limits for San Mateo County or the HCD income limits for San Mateo County, as applicable. (ii) “Low-Income Rent” means the Affordable Rent permitted to be charged for a Low-Income Unit, shall not exceed one-twelfth (1/12th) of sixty percent (60%) of thirty percent (30%) of Median Income (as defined by CTCAC), adjusted for Assumed Household Size, and as provided to the Developer annually by the City or as published by CTCAC for 80% AMI households, as applicable. (jj) “Low-Income Units” means Affordable Units required to be occupied by Low-Income Households. (kk) “NEPA” means the National Environmental Policy Act of 1969, as set forth in 42 U.S.C. 4321 et seq. (ll) “Ordinance” has the meaning set forth in Recital B above.