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6. 1. D. - Page 56 <br />Planning Services <br />Community Development Department <br />1017 Middlefield Road <br />PO Box 391 <br />Redwood City, CA 94063 <br />August 23, 2011 <br />Randy Lamb <br />Nicholson Lamb Venture, L.P. <br />1162 El Camino Real <br />Menlo Park, CA 94025 <br />Randy Lamb <br />Lamb Partners, LLC <br />525 Middlefield Road, Suite 118 <br />Menlo Park, Ca. 94025 <br />Phone (650) 780 -7234 <br />Fax (650) 780 -0128 <br />TDD (650) 780 -0129 <br />http:I/www.redwoodcity.or9 <br />Re: Declaration of Affordability Covenants by Nicholson Lamb Venture, LP. <br />( "Declarant ") in favor of the City of Redwood City ( "City "), dated as of June 4, <br />2009, and recorded on June 11, 2009 with respect to that certain real property <br />located at 885 Woodside Drive, Redwood City, California ( "Affordability <br />Covenant "). <br />Dear Mr. Lamb: <br />Pursuant to your request for an estoppel certificate relating to the Affordability Covenant, <br />staff has reviewed the annual occupancy report and related documentation and determined <br />that you are in compliance with all requirements and obligations of the Affordability <br />Covenant, except in one respect. You have leased 5 1- bedroom units and 1 2- bedroom unit <br />at an affordable rent to persons and families of moderate income, as those terms are <br />defined under Health and Safety Code sections 50053 and 50093. However, the <br />Affordability Covenant requires the lease of 6 1- bedroom units at an affordable rent and no <br />2- bedroom units. <br />Thus, you are out of compliance on one affordable unit: Unit #308 ( "Non- Compliant Unit "), a <br />2- bedroom unit which you have leased at an affordable rent to ( "Tenant "). It <br />is our understanding that the lease has a term of 12 months, commencing on June 15, 2011 <br />and terminating on June 14, 2012. <br />This letter is to memorialize our discussions regarding the Non- Compliant Unit and our <br />understanding of when you will come into compliance with the Affordability Covenant. <br />An Equal Opportunity / Equal Access Program dedicated to opening the doors of equal opportunity <br />to all residents and users of Redwood City programs, services and facilities. <br />