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Median Income is calculated by HOD using non - aggregated census income data <br />and applying trending factors for metropolitan statistical areas (MSA) throughout <br />the country. The IVISA for Santa Ana Is Orange County. The current household <br />income information is presented in Attachment I of the Administrative Procedures <br />Manual, <br />Moderate Income refers to Households whose incomes meet the standards <br />defined by the H &SC Seotion 50093. generally, Moderate Income means <br />household income that does not exceed 120% of the County Median Income, as <br />adjusted for Household size. The maximum household Income amount for <br />Moderate Income Households shall be set at the amount published by HOD <br />annually. <br />Moderate Income Household shall mean individuals or Households who have <br />an adjusted Gross Income that does not exceed Moderate Income. <br />Ordinance means the Housing Opportunity Ordinance originally adopted by the <br />City Council on November 28, 2011, and as amended by the City Council' on <br />September 1, 2015, In Ordinance No. NS -2881, and on October 6, 2015, in <br />Ordinance No. NS- 2885, which is codified in Article XVIII.1 Section 41 -1900 et <br />seq. of the City's Municipal Code. <br />Owner means the current owner of an Inclusionary Unit, <br />Party and Parties mean the City and the Developer as parties to this <br />I'ncluslonary Housing Agreement, <br />Program Director has the day -to -day authority for making determinations <br />related to the Ordinance and Administrative Procedures Manual, The Program <br />Director will be appointed by the Executive Director. <br />Project means the owner- oocupled housing project proposed to be developed on <br />the Property at the Developer's sole cost and expense. <br />Property means the real property, as shown on Exhibit 2 attached to this <br />Inclusionary Housing Agreement, on which the Project is to be developed, for <br />which the legal description is provided in Exhibit 1 to this inclusonary Housing <br />Agreement, <br />Supportable Mortgage means the mortgage amount that can be supported by a <br />Moderate Income Household based on the Affordable Housing Cost calculations. <br />— - -- - – <br />tnaltiiatlanary liatisisiyp l zeemani - bvan�rahip ,J�cC _ page 0 <br />Clry of Santa Ana <br />75C -79 <br />