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Packet_6.27.22
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Packet_6.27.22
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3 <br /> <br /> <br />1.1.8 "City's Planning Commission" means the Planning Commission for the <br />City of Santa Ana. <br /> <br />1.1.9 ''Density Bonus Housing Agreement Term" means the period during <br />which this Agreement shall be in full force and effect, as provided for in Section 6 below. <br /> <br />1.1.10 "Developer" means Brandywine Acquisition Group, LLC and its permitted <br />successors and assigns to all or any part of the Property, Project or this Agreement. <br /> <br />1.1.11 "Effective Date" means the date the Developer and the City shall record or <br />cause to be recorded in the Official Records for Orange County, California, an executed original <br />of this Agreement, pursuant to section 4.1 herein. <br /> <br />1.1.12 "Eligible Household" means a Household whose income does not exceed <br />the “Moderate-Income” qualifying limit as defined herein. <br /> <br />1.1.13 "Household" means all persons residing in a Unit. <br /> <br />1.1.14 “Moderate-Income” means persons and families whose income does not <br />exceed the limits provided in California Health and Safety Code Section 50052.5. <br /> <br />1.1.15 "Project" means that certain residential development as more particularly <br />described in Recital B and Section 2 of this Agreement. <br /> <br />1.1.16 "Property" means that certain real property more particularly described in <br />the legal description in Exhibit A and improvements thereon. <br /> <br />1.1.17 "State Density Bonus Law" means Government Code sections 65915, et <br />seq., as they exist on the Effective Date. <br /> <br />1.1.18 "Unit" means a residential dwelling unit within the Project to be <br />constructed or caused to be constructed by Developer pursuant to this Agreement. <br /> <br />1.1.19 "Unrestricted Units" means the Units within the Project to be constructed <br />or caused to be constructed by Developer to a Household without restriction. <br /> <br />1.2 Exhibits. The following documents are attached to, and by this reference made a <br />part of, this Agreement: <br /> <br />1.2.1 Exhibit A – Legal Description of the Property <br /> <br />1.2.2 Exhibit B – Income Verification Form <br /> <br />1.2.3 Exhibit C – Notice of Affordability Restrictions on Transfer of Property <br /> <br />6/27/2022 <br />Planning Commission 2 –403
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