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Inst 2006048074
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Inst 2006048074
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Last modified
1/29/2008 4:43:08 PM
Creation date
3/27/2007 4:14:04 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
1/10/2006
Recorded Document Type
Inclusionary Housing Agreement
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PERM
Document Relationships
Inst 2010251563
(Amended by)
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\City Clerk\City Council\Recorded Documents\2010
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<br />r <br />T " <br /> <br />Developer and its successors and assigns in the Property. The Resale Restrictions and a Deed of <br />Trust securing them shall both be recorded against the Property; and <br /> <br />WHEREAS, Developer's agreement to reserve the Affordable Units pursuant to this <br />Agreement and its offer of the Affordable Units as shown in PLN 2004-00101 and Tract 7579 are <br />a material consideration to City in approving the Map or Permit as determined by the City and <br />permitting development of the Property to proceed. <br /> <br />AGREEMENT <br /> <br />NOW, THEREFORE, based upon the foregoing recitals which are incorporated herein by <br />this reference and in consideration of City's approval of the Map or Permit as determined by the <br />City and permitting development of the property to proceed, Developer agrees to timely perform all <br />of the covenants and obligations as set forth herein. <br /> <br />1.0 Inclusionarv Housinq Requirements. <br /> <br />1.1 Restricted Units. Developer agrees, at its sole cost and expense, to construct or <br />cause to be constructed the Affordable Units which shall be restricted and made available for sale <br />to, low-, and moderate-income persons or households, as allocated to the housing tract identified <br />on Exhibit A of this Agreement. Said Affordable Units shall be constructed in accordance with <br />design and size standards in the planning approval, final subdivision map and/or building permit <br />plans such as ftoorplans and elevation drawings shown in Exhibit B and incorporated herein as <br />though fully set forth herein (collectively referred to herein as the "Plans") and in accordance with <br />the inclusionary housing requirements set forth in San Leandro Zoning Code Part VI, Section 30. <br /> <br />1.2 Marketinq Plan. A marketing plan shall not be required from the developer unless <br />the City determines and requests the need for one. Developer shall then submit a marketing plan <br />to the City for approval prior to issuance of a building permit. The marketing plan will include at a <br />minimum: 1) description of marketing/outreach strategy for the Affordable Units, 2) description of <br />the application and homebuyer selection process, 3) timeline for homebuyer selection, 4) role of <br />partners involved in the sale and financing of the Affordable Units such as lenders or realtors (if <br />applicable), and 5) copies of marketing materials to be disseminated to the public. <br /> <br />1.3 Resale Restrictions. Concurrent with filing for approval and recordation of the <br />Map or issuance of the Permit as determined by the City, Developer shall cause to be recorded <br />the Resale Restrictions and Deed of Trust in the form provided by City, to restrict the sale of the <br />Affordable Units to low- and moderate-income persons and households, as defined in the Resale <br />Restrictions. <br /> <br />1.4 Other Conditions of Approval. In addition to the foregoing, Developer shall satisfy <br />all other inclusionary housing requirements under the Agreement to Conditions for PLN 2004- <br />00101 and Tract 7579 between the Developer and City. <br /> <br />1.5 Use of City's Wait List to Locate Buyer. Developer must use the existing wait list <br />for the City's Inclusionary Housing Ownership Program to seek out qualified and eligible <br />homebuyers. Only after the Developer has made a good faith effort to fully utilize the wait list may <br /> <br />786523-1 <br /> <br />2 <br />
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