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8.A Page 11 Exhibit C ATTACHMENT 1 Special Takes that may be levied on Taxable Propert}� within CFD No. 2010-I in ali Fiscal Years to below the sum of (i) 1.10 times the debt service necessary to support the remaining Outstanding Bonds, and (ii) the �dministrative Expenses as defined in this Section A. If such detennination is made by the CFD Administrator, the residential dwefling units constructed that would otherwise quaIify as Below Market Rate Units shall be assigned to Land Use Classes t through 3 based on the Residential Floor Area and Location for each such residential dwelling unit. Notwithstanding the above, any residential dwelling unit(s) located on an Assessor's Parcel af Residentia] Property for which Deed Restrictions are not recorded in favar of the City providing for affordable housing prior to the close of escrow to the first private residential owmer for such residential dwelling unit shall be assigned to Land Use Classes 1 through 3 based on the Residential Floor Area and Lacation for each such residential dwelling unit and shall pennanently be ineligible for status as a Beln��J Market Rate Unit. "Certificate of Occupancy" means a certificate issued by the City that authorizes the actual occupancy of a residential dwelling unit for habitation by one or more residents. "CFD Administrator" means an nfficial af the City, or designee thereof responsible for determining the Special Tax Requirement and providing for the levy and coliection of the Special Taxes. "CFD No. 2010-1" means Communiry Facilities District No. 2010-1 of the City of Redwood City (One Marina). "CFll No. 2010-1 Bonds" means any bonds or other debt (as defined in Section 5331 �(d) of the Act), whether in ane or more series, issued by CFD No. 2010-1 and secured solely by the Special Tax levy on praperty �vithin the boundaries of CT'D No. ?010-1 under the Act. I "City" means the Citv of Redwood City, CalifQrnia. "Council" means the City Councii of the City acting as the legislative body of CFD No. 2010-1. "County" means the County of San Mateo. "Deveioped Property" means, for each Fiscal Year, all Taxable Property for which a building per�r�it for new construction was issued after January 1, 2010 and on or before May 1 af the Fiscal Year preceding the Fiscal Year for which the Special Taxes are being levied. � "Final Subdivision" means a subc�ivisian of property by recordation of a final map, parcel map, or lot line adjustment, approved by the City pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) or recordation of a condorninium plan pursuant to Ga[ifornia Civil Code I352 that, in either case, creates individual lots for which buildin� perrnits may be issued �uithout further subdivision. The term "Final Subdivision" shat! nat include any Assessor's Parcel Map or subdivision map or portion thereof, which does not create individual lats for tivhich a building permit may be issued, includinc Assessar's Parcels that are designated as remainder parcels. "Fiscal Year" means the period starting July 1 and ending on the fo[lowing June 30. Cont►netnin� Fnci/ities District �Vo. 2U10-1 February 16, 2011 Cit�� uf Redwoo�! Citv (One Mnrinn) Pc:ge 3