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1111111 • <br /> 2. Issuance of Letter of Compliance <br /> Upon the receipt of a request for a Letter of Compliance, the CFD Administrator shall assign <br /> each building permit identified in such request to Land Use Classes 1 through 5 as listed in Table <br /> 2 below based on the type of use, Residential Floor Area, Location and, if applicable, Acreage <br /> (for each non - residential parcel) identified for each such building permit. If the CFD <br /> Administrator determines (i) that the number of building permits requested for each Land Use <br /> Class, plus those building permits previously issued for each Land Use Class, will not cause the <br /> total number of residential dwelling units or non - residential Acreage within any such Land Use <br /> Class to exceed the number of residential dwelling units or non - residential Acreage for such <br /> Land Use Class identified in Table 2 below, and (ii) that the total number of residential dwelling <br /> units anticipated to be constructed pursuant to the current Development Plan for CFD No. 2010- <br /> 1 shall not be less than 231 residential dwelling units, and the amount of non - residential Acreage <br /> will not be more than 0.00 acres, then a Letter of Compliance shall be submitted to the City <br /> and/or property owner by the CFD Administrator approving the issuance of the requested <br /> building permits for the subject property. This Letter of Compliance shall be submitted to the <br /> City and /or property owner by the CFD Administrator within ten days of the submittal of the <br /> request for Letter of Compliance by the property owner. However, should (i) the building <br /> permits requested, plus those previously issued, cause the total number of residential dwelling <br /> units or the amount of non - residential Acreage within any such Land Use Class to exceed the <br /> number of residential dwelling units or the amount of non - residential Acreage for such Land Use <br /> Class identified in Table 2 below, or (ii) the CFD Administrator determines that changes in the <br /> Development Plan may cause a decrease in the number of residential dwelling units within CFD <br /> No. 2010 -1 to below 231 residential dwelling units or an increase in the amount of non- <br /> residential Acreage to above 0.00 acres, then a Letter of Compliance will not be issued and the <br /> CFD Administrator will be directed to determine if a Buydown shall be required. The number of <br /> residential dwelling units and non - residential Acreage, as listed in Table 2 below, shall be <br /> updated by the CFD Administrator prior to the issuance of the first series of CFD No. 2010 -1 <br /> Bonds to reflect the current Development Plan for CFD No. 2010 -1. <br /> TABLE 2 <br /> Expected Residential Dwelling Units per Land Use Class and Non - Residential Acreage <br /> CFD No. 2010 -1 (One Marina) <br /> raW ' � � � <br /> •>'� ��. .... r z �, .,„ �\ <br /> 1 Residential Property Less than 1,375 Non - Marina View 27 units <br /> 1,375 to less than 1,525 Non - Marina View <br /> 2 Residential Property 72 units <br /> Less than 1,375 Marina View <br /> 1,375 to less than 1,525 Marina View <br /> 3 Residential Property 117 units <br /> 1,525 or Greater NA <br /> 4 Below Market Rate Unit NA NA 15 units <br /> 5 Non - Residential Property NA NA 0.00 acres <br /> Community Facilities District No. 2010 -1 February 16, 2011 <br /> City of Redwood City (One Marina) Page 9 <br />