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07/22/2013 <br />Exhibit B <br />(Declaration of Affordability Covenants) <br />RECORDING REQUESTED BY: <br />CITY OF REDWOOD CITY <br />When Recorded Mail To: <br />CITY OF REDWOOD CITY <br />CDD -Planning and Housing <br />ATTN: Rhonda Coffman <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />SPACE ABOVE THIS LINE <br />DECLARATION OF AFFORDABILITY COVENANTS <br />Mental Health Association of San Mateo County, hereinafter referred to as "Owner," <br />agrees that the Property described in Exhibit "A", and more commonly known as 105 5th <br />Avenue, shall be restricted for a period of Fifteen LL5Lyears from the date of Project <br />Completion. The City defines Project Completion as the date of issuance of the <br />Certificate of Occupancy, Notice of Completion, or some other document approved by <br />the City evidencing completion. This restriction will remain continuously affordable to <br />low-income tenants and will be binding on the Owner and any and all successors in <br />interest. <br />CDBG Definitions, Requirements, Rent and Occupancy Restrictions - The <br />following definitions, requirements and references may be adjusted from time to <br />time by HUD or the City, and any such adjustments shall be incorporated by <br />reference into this Agreement: <br />a. Maximum Allowable Rent and Utilitv Allowances: The maximum allowable CDBG <br />rents must be reduced if the tenant/s pays for utilities. The maximum rent includes all <br />utilities and housing -related services, except telephone. Allowances provide a <br />mechanism for reducing the maximum allowable CDBG rent when some or all utilities <br />are paid by the tenant/s. Redwood City uses the San Mateo County Housing Authority <br />current allowance schedule to determine utility allowances which vary depending on the <br />type of unit and utilities available in the unit. <br />b. Maximum Rents: The total monthly rent cannot exceed the current HUD rent limits <br />for low income (at or below 80 percent of area median) adjusted for unit size. <br />c. Tenant Income: All households must be low-income (incomes at or below 80 <br />percent of area median). Income limits will be prepared and made available by <br />Redwood City annually based on the income data published by HUD and the State <br />California Housing and Community Development. <br />RESO. # 15282 <br />MUFF # 608 <br />