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Inst 2006062523
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Inst 2006062523
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Last modified
3/27/2007 4:27:58 PM
Creation date
3/27/2007 4:27:54 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
1/26/2006
Recorded Document Type
Inclusionary Housing Agreement
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PERM
Document Relationships
Inst 2007094801
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007094802
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007096245
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2007
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<br />1.-. d ~ <br /> <br />~.. <br /> <br />,{ <br /> <br />! ' <br /> <br />Recording Requested by <br />and when Recorded, return to: <br />City of San Leandro <br />Mail Tax Statements to: <br />City of San Leandro <br /> <br /> <br />- - ---- <br />- <br />---- - <br />2006062523 02/17/2006 02:50 PM <br /> <br />OFFICIAL RECORDS OF ALAMEDR COUNTY <br />PATRICK O'CONNELL <br />RECORDING FEE: 0,00 <br /> <br />11111111111111111111'11 111111111111111111 illl 28 PGS <br /> <br />City of San Leandro <br />835 E. 14th Street <br />San Leandro, California 94577 <br />Attn: Community Development Director <br /> <br />J} <br />/Iv <br /> <br />CiTY OF SAN LEANDRO <br /> <br />EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE <br />6103,27383 <br /> <br />MAR 0 7 2006 <br /> <br /> <br />(SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) <br /> <br />INCLUSIONARY HOUSING AGREEMENT - SALE UNITS <br /> <br />THIS INCLUSIONARY HOUSING AGREEMENT (the "Agreement") is made this 26th day <br />of January, 2006, by and between 1103 Davis Street. LLC ("Developer"), and the CITY OF <br />SAN LEANDRO ("City"). <br /> <br />RECITALS <br /> <br />WHEREAS, Developer is the owner of certain real property (Assessor's Parcel No. 75. <br />120-61-4) located within the City of San Leandro, California (the "Property"). Developer is also <br />the Developer of a nine (9) unit for sale residential development, of which one (1) unit will be <br />made affordable to an eligible moderate income homebuyer referred to as Davis Street <br />Homes (the "Development"), and has received a planning approval and/or tentative map <br />approval ("PLN# 2005-00049 and Tract # 7631") from the City and will execute the <br />Agreement prior to the recordation of a Final Subdivision Map (the "Map") as determined by <br />the City for the development of the Development within the City of San Leandro; and <br /> <br />WHEREAS, Developer, by PLN# 2005-00049 and Tract # 7631, has offered to restrict a <br />total of QM.( 1 ) for-sale housing unit to be made available to low- and moderate-income <br />households as follows in satisfaction of the City's inclusionary housing mandates set forth in the <br />San Leandro Zoning Code Part VI, Section 30: one (1) moderate-income. City desires to accept <br />the restriction of the dedicated affordable housing units as shown in PLN# 2005-00049 and Tract <br /># 7631 for the development as an Affordable Housing Unit (the "Affordable Unit") described in this <br />Agreement. A tentative, final or plat map showing the planned units to be located on Lot ~ within <br />the Development is attached hereto as Exhibit A and incorporated herein by this reference; and <br /> <br />WHEREAS, Developer has delivered to City, and City has approved a Resale Restriction <br />and Option to Purchase in recordable form, restricting the sale of the Affordable Unit to low-income <br />persons or households for the term of forty five (45) years (the "Resale Restrictions"). The <br />covenants in the Resale Restrictions are intended to run with the land and be binding on the <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 />
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