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Inst 2014298538
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Inst 2014298538
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Last modified
11/10/2015 9:37:24 AM
Creation date
2/6/2015 10:12:47 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
9/23/2014
Recorded Document Type
Regulatory Agreement
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PERM
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Agmt 2014 Alameda Housing Associates LP
(Reference)
Path:
\City Clerk\City Council\Agreements\2014
Inst 2014298539
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2014
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5. Assisted Unit Schedule. Subject to Section 8 below,Developer shall cause all Assisted <br /> Units to be rented only in accordance with this Agreement and the Schedule of Assisted Units set <br /> forth in Exhibit B, attached hereto and incorporated herein. <br /> 6. Tenant Selection Standards. Subject to Section 8 below, Developer shall cause all <br /> Assisted Units in the Development to be rented only to eligible households based on the <br /> following schedule: eleven(11)units for Very-Low Income Households. The Assisted Units <br /> shall be floating units. <br /> 7. Rents. <br /> a. Subject to Section 8 below,Allowable Rents shall not exceed the following: for <br /> Very Low-Income Households-Low HOME Rents. For purposes of computing Rent,the <br /> imputed household size shall be 1.5 persons per bedroom. <br /> b. Subject to Section 8 below,All Assisted Units must be occupied by Very Low- <br /> Income Households paying rents that are no greater than the Low HOME Rents. <br /> 8. Certification of Tenant Income and Household Size; Increased Income. <br /> a. The income and household size of all households occupying Assisted Units shall <br /> be certified by Developer prior to occupancy and re-certified annually thereafter. <br /> b. If upon recertification, Developer determines that a tenant's household income <br /> exceeds the upper limit for the income category in which the tenant originally qualified,then <br /> subject to compliance with the requirements of other state or federal funding sources, including <br /> Section 42 of the Internal Revenue Code,the tenant shall be allowed to remain in occupancy,but <br /> upon expiration of the tenant's lease and upon sixty(60) days written notice: (i) if the tenant <br /> qualifies as eligible under a different household income category,rent may be charged at the <br /> level appropriate for that income level, and(ii) if the tenant's household income exceeds the limit <br /> for eligibility under this Agreement, the rent charged to the tenant may be increased to the lesser <br /> of one-twelfth(1/12th) of thirty percent(30%) of such tenant's income or fair market rent(but not <br /> to exceed the maximum rent permitted pursuant to federal regulations applicable to low income <br /> housing tax credits). In each case,the next available comparable unit shall be rented to a <br /> household that qualifies under the income category under which the tenant originally qualified. <br /> 9. [Reserved.] <br /> 10. Nondiscrimination. Developer shall not discriminate against any prospective tenant in <br /> the use, enjoyment, occupancy, conveyance, lease, sublease, or rental of any part of the <br /> Development on the basis of race, color, ancestry, national origin,religion, sex, sexual <br /> preference, age, marital status, family status, source of income,physical or mental disability, <br /> Acquired Immune Deficiency Syndrome(AIDS)or AIDS-related conditions (ARC), or any other <br /> arbitrary basis. Developer shall otherwise comply with all applicable local, state and federal <br /> laws concerning discrimination in housing. Developer agrees to comply, to the extent allowed by <br /> law,with any policy adopted by the City for preference for occupancy in the Development for <br /> households who live or work in the City. <br /> 144\221\1488729.2 <br />
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