Laserfiche WebLink
II -C. The Inclusionary Units to be developed on the Property shall be <br />constructed concurrently with, or prior to, the Market Rate Units in the <br />Project. If the Project is phased, the Inclusionary Units shall be <br />constructed in accordance with the phasing plan included as Exhibit 8 to <br />this Inclusionary Housing Agreement. If the Developer wishes to change <br />the timing and /or phasing of the Project's construction, the City agrees to <br />amend said schedule in a manner consistent with such change so long as <br />the revised schedule continues to ensure that the Inclusionary Units will <br />be constructed concurrently with, or prior to, the Market Rate Units. <br />II -D. The Developer shall affirmatively market the Inclusionary Units to <br />Moderate Income Households in accordance with the Administrative <br />Procedures Manual. <br />III. Sale of Inclusionary Units <br />Each of the Inclusionary Units shall be sold to a Moderate Income Household as <br />set forth in the Inclusionary Housing Plan. The purchaser of each Inclusionary <br />Unit shall qualify as an Eligible Purchaser, as defined in the Administrative <br />Procedures Manual. <br />IV. Selection of Eligible Purchaser <br />The Developer shall, at its sole cost and expense, conduct all procedures and <br />comply with all requirements as set forth in the Ordinance and the Administrative <br />Procedures Manual in selecting qualified Eligible Purchasers for each of the <br />Inclusionary Units. Specific procedures are set forth in Attachment D in the <br />Administrative Procedures Manual. <br />If a prospective Homebuyer qualifies as an Eligible Purchaser, as defined herein, <br />the Homebuyer shall be required to execute the Developer's standard purchase <br />agreement for the purchase and sale of an Inclusionary Unit. The Developer <br />shall seek and obtain all approvals required from the City pursuant to the <br />Ordinance and the Administrative Procedures Manual, and shall provide the City <br />with all documentation required pursuant to the Administrative Procedures <br />Manual. <br />Inclusionary Housing Agreement - Ownership Project Page 14 <br />City of Santa Ana January 2015 <br />