16-143 Marina Plaza, LLC, Affordable Housing Agreement and Declarations of Restrictive CovenantsRECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
City of Cup ertino
10300 ToITe Avenue
Cupertino, CA 95014
Attn.: City Manager
No fee for recording pursuant to
Government Code Section 27383
23497716
Regina Alcomendras
Santa Clara County -Clerk-Recorder
11/14/2016 02:58 PM
Ti lies: 2
Fees : 10 .00 Taxes: 0.00
Total: 0 .00
Pages: 23
(Space above for Recorder's Use)
AFFORDABLE HOUSING AGREEMENT AND DECLARATION OF
RESTRICTIVE COVENANTS
This AFFORDABLE HOUSING AGREEMENT AND DECLARATION OF
RESTRICTIVE COVENANTS ("Agreement") is entered into as of this 20th day of October 2016
(''Effective _Date ") by and between the CITY OF CUPERTINO, a municipal corporation (the
"~ity"), and MARINA PLAZA, LLC, a California limited liability company (the "Developer"),
(indi vidually a "Paiiy" and together the "Pai1ies"), with reference to the following facts:
A. Developer is the owner of that certain real property commonly known as l O 118-
10122 Bandley Drive (APN 326-34-066) in Cupertino, California (the "Property") more
particularly described and depicted in Att<l;chment 1 attached to this Agreement and incorporated
b y this reference. The Prope1iy, together with that certain real property cmmnonly known as
10145 North De Anza Boulevard (APN 326-34-043) ("Hotel_parcel") owned by Cupertino
10145 LLC , a California limited liability company ("Cupertino 10145"), comp1ise the "Site."
B. The Site is the subject of a Dev elopment Agreement (DA-2016-01) (the
"Development Agreement") concerning the redevelopment of the existing commercial buildings
on the Site with two mixed-use buildings containing 188 dwelling units , approxi mately 22,600
square feet of commercial space on the Prope1iy as well as a 122-room full service neighborhood
business hotel on the Hotel Parcel, and associated facilities and infrastructure ( collectively the
"froiect"). On September 6, 2016, De Anza Venture LLC , a two member California limited
liability company whose members consist of Developer and Cupertino 10145 ("D~_Apza
Venture"), received discretionary approvals from the City for the Project, including a
Development Pennit (DP-2015-05), an Architectural and Site Approval Pennit (ASA-2015-22),
a Use Pennit (U-2015 -06), a Tree Removal Pennit (TR-2016-14), an exception to the Heart of
the City Specific Plan for a setback (EXC-2016-03), a Fence Exception (EXC-2016-05), and the
Development Agreement (collectively, the "Project Approvals"). Cupe1iino 10145 and
Developer intend to transfer their respective interests in the Site, and concmTently assign their
respective 1ights and obligations under the Development Agreement, to De Anza Venture, who
will develop the Project on the Site.
C. Cupe1i ino Municipal Code Ch apter 19.56 codifies the City's density bonus
ordinance, which the City adopted to confonn to State Density Bonus Law (Govenm1ent Code
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Section 65915 -65918) (together "Density Bonus Law"). Density Bonus Law allows a density
bonus, concessions, and other regulatory incentives when a developer proposes to provide rental
housing affordable to Very Low Income Households.
D. As paii of the Project, Developer has sought and agreed to construct sixteen (16)
dwelling units (11 % of the total 139 dwelling units otherwise pennitted in the Project) to be
affordable and rented to Very Low Income Households (the "Very Low Income Units") for the
Tem1 as defined below. Under Density Bonus Law, Developer has applied for, and the City has
granted, the following modifications to its usual development standards in exchange for the
Developer's provision of the Very Low Income Units:
1. A density bonus of thirty-five percent (35%), or forty-nine ( 49) additional
dwelling units (the "Density Bonus").
2. A reduction in parking otherwise required for the Very Low Income Units to
provide one parking space per one-bedroom unit rather than two parking spaces
(the "Parking Modification"). The Density Bonus and Parking Modification are
collectively "Density Bonus Incentives."
E. Density Bonus Law requires the City to ensure, and the Developer to agree to ,
continued affordability of the Very Low Income Units. To ensure their continued affordability
for the Tem1, this Agreement shall be executed and recorded against the Prope1iy prior to the
recordation of any parcel map or final subdivision map or issuance of building pem1its for the
Project, whi che ver occurs first.
F. In consideration of the valuable land use and economic benefits confened by the
City upon the Property under Density Bonus Law, Developer, for itself, its successors, heirs ,
grantees and assigns , hereby desires through this Agreement to comply with the requirements of
Density Bonus Law as applied to the Property.
G . In addition, as a mate1ial consideration for the long tenn assurances , vested rights,
and other City obligations provided by the Development Agreement and as a material
inducement to City to enter into the Development Agreement, Developer offered and agreed to
ce1iain tenns as specified in the Development Agreement. Section 3.12 of the Development
Agreement specifies, among other provisions, that the Developer shall provide the sixteen (16)
Very Low Income Units in the Project plus an additional two (2) dwelling unit to be affordable
and rented to Moderate Income Households (the "Moderate Income Units") for the Tenn and
that the Paiiies shall enter into and record this Agreement prior to or concunently with the
recordation of the Development Agreement. Collectively, the eighteen (18) below-market-rate
units may be refened to as the "Affordable Units._"
NOW, THEREFORE, in consideration of the mutual covenants and promises contained
in this Agreement and other valuable consideration, it is mutually agreed by and between the
Paiiies as follows.
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AGREEMENT
The Parties agree and acknowledge that the above recitals are trne and accurate, and are
incorporated into this Agreement by this reference.
ARTICLE l.
DEFINITIONS AND ATTACHMENTS
Section 1.1. Definitions. When used in this Agreement, the following te1ms shall have
the respective meanings assigned to them in this Article 1.
(a) "Affordable Rent" is the maximum allowable Rent for an Affordable Unit,
equal to one-twel fth (1112th) of thirty percent (30%) of fifty percent (50%) of Area Median
Income for Very Low Income Households, one-twelfth (1112th) of thirty percent (30%) of sixty
percent (60%) of Area Median Income for Low Income Households, and one-twelfth (1112th) of
thirty percent (30%) of one hundred ten percent (110%) of Area Median Income for Moderate
Income Households, adjusted for assumed household size of one person in a studio Affordable
Unit, two persons in a one-bedroom Affordable Unit, three persons in a two-bedroom Affordable
Unit, and one additional person for every additional bedroom thereafter.
(b) "Affordable Units" are defined in Recital G.
( c) "Agreement" is defined in the first paragraph on page 1.
( d) "Area Median Income" is the median Household Income in Santa Clara
County as determined pe1iodically by the State of California pursuant to California Code of
Regulations, Title 25 , Section 6932 or successor provision.
( e) "City" is defined in the first paragraph on page 1 of this Agreement.
(f) "City Council" is the City Council of the City of Cupe1iino.
(g) "Cupertino 10145" is defined in Recital A.
(h) "De Anza Venture" is defined in Recital B.
(i) "Density Bonus" is defined in Recital D .
(j) "Density Bonus Incentive" is defined in Recital D.
(k) "Density Bonus Law" is defined in Recital C.
(1) "Developer" is defined in the first paragraph on page 1 of this Agreement.
(m) "Development Agreement" is defined in Recital B.
(n) "Director" is the Community Development Director or successor position.
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( o) "Effective Date" 1s defined 111 the first paragraph on page 1 of this
Agreement.
(p) "Eligible Household" is a household which has been detennined to be
eligible to rent an Affordable Unit in compliance with Density Bonus Law, the Development
Agreement, and this Agreement.
(q) "Hotel Parcel" is defined in Recital A.
(r) "Household Income" of a Tenant is detennined as provided in the City's
Policy and Procedures Manual or successor publication.
(s) "Low Income Household" is a household with a Household Income
between fifty percent (50%) and eighty percent (80%) of Area Median Income, adjusted for
actual household size.
(t)
Affordable Units.
"Market-Rate Units" are dwelling units 111 the Project that are not
(u) "Moderate fr1come Household" is a household with a Household Income
between eighty percent (80%) and one hundred twenty percent (120%) of Area Median Income,
adj usted for actual household size.
(v) "Moderate Income Unit" is defined in Article G.
(w) "Mo1igagee" is the holder of any mo1igage, deed of trust, security
agreement , and other like security instrument encumbering all or any po1iion of the Property or
any of the Developer 's rights under this Agreement.
(x) "Parking Modification" is defined in R eci tal D .
(y) "Paiiy" or "Parties" are defined in the first paragraph on page 1 of this
Agreement.
(z) "Policy and Procedures Manual" is the Policy and Procedures Manual for
Administering Deed Restricted Affordable Housing Units, or successor publication, adopted
from time to time by the City Council.
(aa) "Project" is defined in Recital B.
(bb) "Project Approvals" are defined in Recital B.
(cc) "Property" is defined in Recital A .
( dd) "Rent" includes monthly rent paid to the Developer, utilities, and all
mandatory fees for parking and other housing services associated with the Affordable Unit,
including but not limited to parking, bicycle storage, storage lockers , and use of all co1mnon
areas. An allowance for utilities paid b y the Tenant is established by the Santa Clara County
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Housing Authority, and includes garbage collection, sewer, water, electricity, gas and other
heating, cooking and refrigeration fuel , but not telephone service or cable TV, and such
allowance must be deducted from the monthly rent paid to the Developer.
(ee) "Site" is defined in Recital A.
(ff) "Tenant" is a household occupying an Affordable Unit pursuant to a valid
lease or rental agreement with the Developer.
(gg) "Tenant Lease" is defined in Section 3.5.
(hh) "Tem1" is defined in Section 3 .1.
(ii) "Unit" means either an Affordable Unit or a Market-Rate Unit in the
Project.
(jj) "Very Low Income Household" is a household with a Household Income
at or below fifty percent (50%) of Area Median Income, adjusted for actual household size.
(kk) "Very Low Income Unit" is defined in Recital D.
Section 1.2. Attachment~. The following attachments are attached to and incorporated
into this Agreement:
Attachment l Legal Description of the Prope1iy.
Attachment 2 Schedule of Affordable Units .
Attaclm1ent 3 Example of Affordable Rents and Maximum Income Level of Tenants for
Affordable Units.
ARTICLE 2.
CONSTRUCTION OF PROJECT AND AFFORDABLE RENTAL UNITS
Section 2.1 . Affordable Units. To satisfy Developer's affordable housing requirements
for the Project under Density Bonus Law and the Development Agreement, Developer shall rent
eighteen (18) Affordable Units at Affordable Rents, sixteen (16) to Very Low Income
Households and two (2) to Moderate Income Households as specified in Article 3 below, for the
Tenn.
Section 2.2. Construction of Affordable Units . The Affordable Units shall be
constructed in propmiion to construction of the Market-Rate Units, at a ratio of one Affordable
Unit to each ten (10) Market-Rate Units . No building pennit shall be issued for any Market-Rate
Unit unless a proportional number of building permits have been issued for Affordable Units,
and no certificates of occupancy or final inspections shall be issued for any Market-Rate Units
unless a propmiional number of ce1iificates of occupancy or final inspections have been issued
for Affordable Units. The Director may approve a modified construction schedule if this timing
requirement will create umea sonable delays in the issuance of ce1iificates of occupancy for
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Market-Rate Units and if the Developer provides satisfactory assurance, as approved by the
Director, that the Affordable Units will be completed p1ior to completion of all of the Market-
Rate Units . Each Affordable Unit shall be inspected by the City prior to occupancy to detennine
that it meets the construction and other standards required by this Agreement.
Section 2.3. Appearance, Size and Bedroom Count of Affordable Units.
(a) Appearance and Maintenanc_e of Affordable Units. The Affordable Units
in the Project shall be comparable to Market-Rate Units in te1ms of unit type, number of
bedrooms per unit, quality of exterior appearance, and overall quality of construction, except that
the Developer may elect to provide the Affordable Units with more bedrooms . Affordable Unit
sizes should be generally representative of the unit sizes of the Market-Rate Units, and the
Affordable Units shall be dispersed throughout the Project,. in accordance with Attachment 2.
Interior features and finishes of Affordable Units shall be durable, of good quality, and consistent
with contemporary standards for new housing . Developer shall allocate and assign bicycle
storage, storage lockers, and other spaces reserved for use by individual units to the Affordable
Units on the same basis as for the Market-Rate Units , and Tenants of the Affordable Units shall
have equal access to the Project's common areas as is given to the residents of the Market-Rate
Units, but any fee charged for use of common areas or for spaces reserved for individual units
shall be included in the Tenant's Rent. Affordable Unit s with one bedroom shall have one
parking space per unit pursuant to Municipal Code section 19.56.040(E). Affordable Units with
two bedrooms sirnll have two parking spaces per unit pursuant to Municipal Code section
19 .124 .040. Once completed, the Affordable Units shall not be kept vacant or used for any
purpose except for residential use and, if vacant , shall be marketed concurrently with the Market-
Rate Units and offered for rent to Eligible Households at Affordable Rents.
(b) Location of Affordable Units. As required by the Project Approvals , p1ior
to issuance of any building pennit for the Project, Developer shall submit to the Director an
A ffordable Housing Plan , as described in the Project Approvals, specifying the proposed location
of the Affordable Units and the Project's consistency with this A1iicle 2, for the Director's
reasonable approval. If, after recordation of this Agreement, Developer desires to change the
location of any Affordable Unit within the Project, Developer shall submit a w1itten request for
such change to the Director, who may approve such request provided that any relocated
Affordable Units shall be consistent with this Article 2, be comparable to those listed in
Attaclunent 2 , and contain the same number of bedrooms.
ARTICLE 3.
RENT REGULATORY PROVISIONS
Section 3 .1. Tem1. The "Tenn" of this Agreement is the pe1iod in which each
Affordable Unit shall be rented to Very Low Income Households . For all Affordable Units, the
Tenn shall commence upon issuance of each ce1iificate of occupancy for an Affordable Unit and
shall expire on the later of (a) fifty-five (55) years from the issuance of the final ce1iificate of
occupancy for the Project or (b) the date the Project buildings are either (i) demolished or (ii)
conve1ied to a non-residential use by Developer with any City-issued approvals and pe1mits that
may be required. Upon issuance of the final certificate of occupancy, City and Developer shall
record a certificate specifying the date of issuance of the final ce1iificate of occupancy.
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Section 3.2 . Affordability and Occupancy Covenants.
(a) Occupancy Regu_irements. Subject to the provisions of subsection (e) of
this Section below, sixteen (16) Affordable Units shall be rented to and occupied by or, if vacant,
available for occupancy by, Very Low Income Households and two (2) Affordable Units shall be
rented to and occupied by or, if v acant , available for occupancy by, Moderate Income
Households .
(b) Allowable Rent. Subject to the provisions of subsection (e) of this Section
below, the maximum Rent charged to Tenants of the Affordable Units shall not exceed
. Affordable Rent.
( c) City Approval of Rents . The initial Rents for all Affordable Units shall be
approved by the City piior to occupancy at the time the Developer submits to the City the
marketing plan required by Section 3.6 below . The City shall review all proposed Rent increases
to detem1ine whether the proposed increases are consistent with the provisions of this
Agreement. Developer shall ce1iify to the City that Dev eloper is not charging any fee other than
Affordable Rent to Tenants of the Affordable Units for all of the components of Rent defined in
Section 1.1 ( dd) above.
( d) Schedule of Affordable Rent~. The City has provided the Developer with a
schedule of Affordable Rents for the Affordabl e Units in effect on the date of this Agreement, set
f01ih in attached Attachment 3. The City annually detennines Affordable Rents (including utility
. allowances) based on changes in Area Median Income and utility allowances , and Developer
s_hall obtain a copy of the s chedule from the Director.
( e) Increased Income of Tenants .
(i) Increase from Very _Low Income to at or below Low Income. If,
upon annual recertification of a Very Low Income Unit Tenant's income, the Developer
detem1ines that a former Very Low Income Household's income has increased and exceeds the
qualifying income for a Very Low Income Household, but does not exceed the qualifying limit
for a Low Income Household, then, upon expiration of the Tenant's lease and after sixty (60)
days w1itten notice to the Tenant, the Tenant's rent may be increased to Affordable Rent for Low
Income Households.
(ii) Increase to Above Low Income . If, upon recertification of a Very
Low Income Unit Tenant's Household Income, the Developer detennines that the Tenant's
Household Income has increased and exceeds the qualifying income for a Low Income
Household, then the Tenant shall be gi v en written notice that Tenant shall vacate the Very Low
Income Unit tlu·ee (3) months from the date of the notice or upon expiration of the Tenant's
lease , whichever is later. A three (3) month extension may be granted by the Director in cases of
extreme hardship . If, prior to the date by which the Tenant must vacate the Very Low Income
Unit , a Moderate Income Unit is vacated and is of appropriate bedroom size, the Developer may,
at the Developer's option, request the Director, pursuant to Section 2.3(b) above, to approv e a
change in the location of the Very Low Income Unit and the Moderate Income Unit ; allow the
Tenant to remain in the 01iginal Unit as a Moderate Income Unit; and designate the newly
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vacated Unit as a Very Low Income Unit if approved by the Director. Alternatively, if another
Unit in the Project is vacated which is not designated as an Affordable Unit and is of appropriate
bedroom size, the Developer may, at the Developer's option, request the Director, pursuant to
Section 2.3(b) above, to approve a change in the location of the Very Low Income Unit; allow
the Tenant to r emain in the original Unit at market rent; and designate the newly vacated Unit as
a Very Low Income Unit if approved by the Director.
(iii) Increase to Above Moderate Income. If, upon recertification of a
Moderate Income Unit Tenant's Household Income, the Developer detennines that the Tenant's
Household Income has increased and exceeds the qualifying income for a Moderate Income
Household, then the Tenant shall be given w1itten notice that Tenant shall vacate the Moderate
Income Unit three (3) months from the date of the notice or upon expiration of the Tenant's
lease, whichever is later. A three (3) month extension may be granted by the Director in cases of
extreme hardship. If, prioi· to the date by which the Tenant must vacate the Moderate Income
Unit, another Unit in the Project is vacated which is not designated as an Affordable Unit and is
of appropriate bedroom size, the Developer may, at the Developer's option, request the Director,
pursuant to Section 2.3(b) above, to approve a change in the location of the Moderate Income
Unit; allow the Tenant to remain in the original Unit at market rent; and designate the newly
vacated Unit as a Moderate Income Unit if approved by the Director.
Section 3.3. Agreement to Limitation on Rents . The Project has received approval of a
Development Agreement and Density Bonus Incentives under Density Bonus Law from the City.
These are fonns of assistance specified in Chapter 4.3 (co1runencing with Section 65915) of
Division 1 of Title 7 o f the Government Code. Sections 1954.52(b) and 1954.53(a)(2) of the
Costa-Hawkins Act provide that, where a developer has received such assistance, certain
provisions of the Costa-Hawkins Act do not apply if a developer has so agreed by contract. The
Developer hereby agrees to limit Rents as provided in this Agreement in consideration of the
Developer's re ceipt of the D ens ity Bonus Incentives and the City's approval of the Development
Agreement and fmiher agrees that any limitations on Rents imposed on the Affordable Units are
in conformance with the Costa-Hawkins Act. The Developer further wa1Tants and covenants that
the tenns of this Agreement are fully enforceable.
Section 3.4. Notice to Developer. Developer fu1iher acknowledges and agrees that the
City, in its review of the Project Approvals, provided adequate and proper notice pursuant to
Government Code Section 66020 of Developer's right to protest any requirements for fees,
dedications , reservations , and other exactions as may be included in this Agreement, that no
protest in compliance with Section 66020 was made within ninety (90) days of the date that
notice was given, and that the pe1iod h as expired in which Developer may protest any and all
fees, dedications, reservations, and other exactions as may be included in this Agreement.
Section 3.5. Lease Pro v isions . The Developer shall use a forn1 of Tenant lease (the
"Tenant Lease") approved b y the City for the Affordable Units. The Tenant Lease shall, among
other matters:
(a) provide for termination of the lease for failure: (1) to provide any
information required under this Agreement or reasonably requested by the Developer to establish
or rece1iify the Tenant's qualification, or the qualification of the Tenant's household, as an
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Eligible Household in accordance with this Agreement, or (2) to qualify as an Eligible
Household as a result of any material misrepresentation made by such Tenant with respect to the
Household Income computation or certification;
(b) provide that the Rent may not be raised more often than once every twelve
(12) months . The Developer will provide each Tenant with at least sixty (60) days written notice
of any increase in Rent applicable to such Tenant;
(c) prohibit subleasing of the Affordable Unit or any portion of the Affordable
Unit or any spaces reserved for the use of the Tenant, contain nondiscrimination provisions , and
include the Tenant's obligation to infonn the Developer of any need for maintenance or repair
(d) allow tem1ination of the tenancy only for an increase in Tenant's
Household Income above qualifying income for Low Income Households or for good cause,
. including violation of the te1ms and conditions of the Tenant Lease, violations of applicable
federal, state, or local law, or other good cause;
( e) include, at Developer's option, the obligation for Tenant to provide a
secmity deposit not exceeding two months' rent;
(f) be for an initial tenn of one year; and
(g) otherwise confonn to the Policy and Procedures Manual.
Section 3.6. Marketing, Income Ce1iification and Re_gorting.
(a) B.equired Cijy_AQ]lli)_Y.<!~-At least sixty (60) days before any Affordable
Units in the Project receive a final inspection or certificate of occupancy, the Developer shall
notify City of the availability of the Affo rdable Units and provide to the City its proposed
marketing plan for the Affordable Units as described below ; the proposed fonn of Tenant Lease
to confirm confonnance with the provisions of Section 3 .5 above; and proposed Affordable
Rents for the Affordable Units, all for City review and approval. The Affordable Units shall be
marketed concurrently with the marketing of the Market-Rate Units.
(b) Marketing Plan. The Developer's marketing plan shall be consistent with
the provisions of this subsection (b ). Upon receipt of the marketing plan, the City shall promptly
review the marketing plan and shall approve or disapprove it within thi1iy (30) days after
submission. If the marketing plan is not approved, the Developer shall submit a revised
· marketing plan within thirty (30) days.
(i) Section 8 Vouchers and Certificate Holders . The Developer will
review applications from prospective tenants of Affordable Units , on the same basis as all other
prospective tenants , of persons who are recipients of federal certificates for rent subsidies
pursuant to the existing housing program under Section 8 of the United States Housing Act or
any successor. The Developer shall not apply selection criteria to Section 8 ce1iificate or voucher
holders that are more burdensome than criteria applied to all other prospective tenants for the
Affordable Units, nor shall the Developer apply or pennit the application of management
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policies or lease provisions with respect to the Project which have the effect of precluding
occupancy of Affordable Units by such prospective tenants.
(ii) Marketirrg_ Materials. The marketing plan submitted to the City
shall include the following : means to be used to advertise Affordable Units to the public upon
initial occupancy and as vacancies occur and maintenance of a waiting list; the amount of any
application screening fee to be imposed by Developer, and infonnation to be provided to
applicants, including conditions and restrictions applicable to occupancy of the Affordable Units,
cmTent Affordable Rent, permitted Rent increases, maximum qualifying income for an Eligible
Household, requirement for armual Household Income rece1iification, preferences, if any, and
requirement to vacate the Affordable Unit if the Tenant's Household Income exceeds the
maximum qualifying income.
(c) Income Certification
(i) Prior to Developer's entering into a lease with a prospective tenant
of an Affordable Unit, the prospective tenant household shall be certified by the City or its
assignee as an Eligible Household.
(ii) Annually thereafter, the Developer will obtain, complete and
maintain on file Household Income certifications for each Tenant renting any of the Affordable
Units. Developer sh all make a good faith effort to verify that the Household Income statement
prov ided by a Tenant is accurate by taking two or more of the following steps as a part of the
verlfication process for all members of the Tenant household age eighteen (18) or older: (a)
obtaining a minimum of tlie three (3) most cmTerit pay stubs; (b) obtaining an income tax return
fq r the most recent tax year; ( c) conducting a credit agency or similar search; ( d) ob t aining the
three (3) most cunent savings and checking account bank statements; (e) obtaining an income
verification fo1m from a current employer; (f) obtaining an income verification fonn from the
Social · Security Administration and/or the California Department of Social Services if an adult
member of the Tenant's household receives assistance from either of such agencies; or (g) if the
Tenant is _ unemployed and has no such tax return, obtain another fonn of independent
ve1ification . Copies of ammal Tenant Household Income certifications shall be provided to the
City or its assignee for review .
(iii) As an alternative to the procedure described in subparagraph (ii) of
this subsection ( c), Developer may contract with a provider approved by the City to ce1iify
Tenant Household Incomes on an ammal basis .
(d) Reports to City.
(i) Ammal Rep01i. The Developer shall submit to the City on April 1st
of each year a rep01i , in a fonn prescribed by or otherwise acceptable to the City, verifying
compliance by Developer with the tenns of this Agreement and certified as con-ect by the
Developer. The aimual report shall include without limitation: Household Income for all Tenants
of Affordable Units at the time of initial occupancy and at recertification; number of persons in
each Affordable Unit; amount of Rent charged; other infomrntion reasonably required by the
City.
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(ii) Other Repo1is. Within fifteen (15) days after receipt of a written
request, Developer shall provide any other infonnation or completed fo1ms reasonably requested
by the City to ensure compliance with this Agreement.
Section 3.7. ~11ent of Property and Pr_QQer!Y]v1aintenance.
(a) Management Responsibilities . Except for the City's initial ce1iification of
a Tenant as an Eligible Household, the Developer is responsible for all management functions
with respect to the Project, including, without limitation , the annual recertification of household
size and Household Income (subject to review by the City or its assignee), selection of Tenants,
evictions, collection of R ents and deposits , maintenance, landscaping, routine and extraordinary
repairs, replacement of capital items , and security. The City shall have no responsibility over
management of the Project.
(b) Prope1iy Maintenance. The City places prime importance on quality
maintenance to ensure that all deve lopments within the City which include affordable housing
units are not allowed to deteriorate due to below-average maintenance. Developer shall provide
the Affordable Units with the same level and quality of maintenance, including perfonnance of
repairs and periodic replacement of fixtures as the Market-Rate Units. The Developer agrees to
maintain all interior and exterior improvements, including landscaping, on the Property in good
condition and repair (and , as to landscaping, in a healthy condition) and in accordance with all
applicable laws, rules, ordi nances , orders and regulations of all federal , state, county, municipal ,
and other governmental agencies and bodi es having or claiming jurisdiction and all their
respective departments , bureaus, and officials.
(c) Taxes and Assessments. Developer shall pay all real and personal prope1iy
taxes, assessments, if any, and charges and all franchise, income, employment, old age benefit,
withholding, sales, and other taxes assessed against it , or payable by it, at such times and in such
manner as to prevent any penalty from accruing, or any lien or charge from attaching to the
Prope1iy; provided , however, that Developer shall have the 1ight to contest in good faith, any
such taxes, assessments, or charges. In the event Developer exercises its right to contest any tax,
assessment, or charge against it , Developer, on final determination of the proceeding or contest,
shall immediately pay or discharge any decision or judgment rendered against it, together with
all costs, charges and interest.
ARTICLE 4.
ENFORCEMENT
Section 4 .1 . Covenants Running with the Land. The City and Developer hereby declare
their express intent that the covenants and restrictions set fmih in this Agreement shall apply to
and bind Developer and its heirs , executors, administrators, successors, transferees, and
assignees having or acquiring any 1ight, title or interest in or to any paii of the Prope1iy and shall
run with and burden such pmiions of the Prope1iy until te1minated in accordance with Section
· 4.3. Until all or po1iions of the Property are expressly released from the burdens of this
Agreement, each and every contract, deed or other instrument hereafter executed covering or
conveying the Property or any p01iion thereof shall be held conclusively to have been executed,
delivered, and accepted subject to such covenants and restrictions, regardless of whether such
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covenants or restrictions are set forth in such contract, deed or other instrument. In the event of
foreclosure or transfer by deed-in-lieu of all or any portion of the Prope1iy prior to completion
and sale of all of the Affordable Units, title to all or any po1iion of the Prope1ty shall be taken
subject to this Agreement. Developer acknowledges that compliance with this Agreement is a
requirement -of Density Bonus Law and the Project Approvals, and that no event of foreclosure
or trustee's sale may remove these requirements from the Property.
Section 4.2. No Subordination; Notice to Mortgagees . In no event shall this
Agreement be subordinated to, or recorded subordinate to, a mortgage, deed of trust, or other
method of secmity encumbe1ing the Property, other than current unpaid taxes. If City recei ves a
notice from a M01igagee requesting a copy of any notice of default given Developer hereunder
and specifying the address for service thereof, then City agrees to use its diligent, good faith
efforts to deliver to such M01igagee, concurrently with service thereon to Developer, any notice
of default given to Developer. Each M01igagee shall have the right during the same period
available to Developer to cure or remedy, or to commence to cure or remedy, the event of default
claimed or the areas of noncompliance set forth in City's notice of default. If a Mortgagee is
required to obtain possession in order to cure any default, the time to cure shall be tolled so long
as the Mo1igagee is attempting to obtain possession, including by appointment of a receiver or
foreclosure, but in no event may this period exceed 120 days from the date the City delivers the
notice of default to Developer.
Section 4.3. Release of Prope1iy from A_w_e ment.
(a) Prior to the expiration of the Tenn, Develop er shall provide all
notifications required by Government Code Sections 65863.10 and 65863.11 or successor
provisions and any other notification required by any state, federal, or local law. In addition, at
least six (6) months prior to the expiration of the Tern1 for an Affordable Unit, the Developer
shall provide a notice by first-class mail, postage prepaid, to all Tenants in the Affordable Units
whose Tenn is expi1ing. The riotice shall contain (a) the anticipated d_ate of the expiration of the
Te1111, (b) any anticipated Rent increase upon the expiration of the Tenn, ( c) a statement that a
copy ·of such notice will be sent to the City, and ( d) a statement that a public hearing may be held
by the City on the issue and that the Tenant will receive notice of the hearing at least fifteen (15)
days in advance of any such hearing. The Developer shall file a copy of the above-described
notice with the City Manager.
(b) Upon the expiration of the Tenn, City shall execute and record a release of
the Project, the Prope1iy, and each Unit in the Project from the burdens of this Agreement within
thi1iy (30) days following w1itten notice from the Developer, if at the time the Developer is in
compliance with all terms of this Agreement.
Section 4.4. Default. Failure of the Developer to satisfy any of Developer's obligations
under the tern1s of this -Agreement within thi1iy (3 0) days after the delivery of a notice of default
from the City will constitute a default under this Agreement, a default under the Development
Agreement, and a failure to satisfy the Project Approvals and Density Bonus Law. In addition to
remedies for breach of this Agreement, the City may exercise any and all remedies available to it
under Density Bonus Law, or otherwise, including but not limited to:
12
(a) withholding, conditioning, suspending or revoking any pennit, license,
subdi vision appro v al or map , or other entitl em ent for the Project, including without limitation
final inspections for occupancy and/or certificates of occupancy;
(b) instituting agairist the Dev eloper, or other parties , a civil action for
declaratory relie±: injunction or any other equitable relief, or relief at law , including without
limitation an action to rescind a transaction and/or to require repayment of any funds received in
connection with such a vi o lation ;
( c) where one or more persons have receiv ed financial benefit as a result of
violation of this Agreement or of any requirement imposed under the Density Bonus Law, the
City may assess , and institute legal action to recover as necessary, a penalty in any amount up to
and including the amount of financial benefit received, in addition to recovery of the benefit
received;
( d) requi1ing the Dev eloper or his/her successors in interest to the Property to
pay the City Rent or any other payment recei v ed by the Developer for the Affordable Unit from
the date of an y unauthor ized u se of the Affo1:dable Unit or in excess of Affordable Rent ; and
( e) any oth er means authori z ed under the City of Cupertino Municipal Code,
Dens ity Bonus L aw , or an y other federal or state statute.
Section 4.5. Remedies Cumulative. No right, power, or remedy given to the City by the
tenns of this Agreement or Density Bonus L aw is intended to be exclusiv e of any other right,
power, or remedy; and each and every such ri ght, pow er, or remedy shall be cumulative and in
addition to ev ery other right, po w er, or remedy given to the City by the tenns o f this Agreement,
Density B o nus Law, or b y any statute or ordin ance or oth erwise against Developer and any other
person. Neither the failure nor any delay on the paii of the City to exercis e any such rights and
r emedies shall operate as a w ai v er thereof, nor shall any single or p artial exercis e by the City of
any such right or remedy preclude any other or further exercise of such 1ight or remedy, or any
other right or remedy.
ARTICLES.
GENERAL PROVISIONS
Section 5.1 . Appointment of Other Agencies. At its sole discretion, the City may
designate, appoint or contract with any other public agency, for-profit or non-profit organization
to perfom1 some or all of the City's obligations under this Agreement.
Section 5.2. Records. Developer shall r etain all records related to compliance with
obligations under this Agreement for a pe1iod not le s s than five (5) years from the date of
origination of such records , and make them available to City employees or others designated by
the City for inspection and copying on five (5) business days' written notice. The City shall be
entitled to monitor compliance w ith this Agreem ent and Density Bonus Law, and Developer
shall cooperate with City monitoring, including obtaining Tenant Rent and Household Income
ve1ification upon requ es t of th e Ci ty.
13
Section 5.3. Monitoring Fee. Developer agrees to pay an ammal monitoring fee as may
be adopted by resolution of the City Council which is in force and effect for a similar class of
affordable u nits.
Section 5.4 . Nondiscrimination. All of the Affordable Units shall be available for
occupancy to members of the general public. The Developer shall not give preference to any
particular class or group of persons in renting or selling the Affordable Units, except to the
extent that the Affordable Uni ts are required to be rented and sold to Eligible Households and as
req uired by this Agreement; provided, however, there shall be no discrimination against or
segregation of any person or group of persons, on account of race, color, creed, religion, sex,
sexual orientation, marital status, national 01igin, source of income ( e.g., SSI), age ( except for
lawful senior housing), ancestry, or disability, in the leasing, transferring, use, occupancy, tenure,
or enjoyment of any Unit nor shall the Developer or any person claiming under or through the
Developer, establish or pennit any such practice or practices of discrimination or segregation
with reference to the selection, location, number, use, or occupancy of Tenants of any Unit or in
com1ection with the employment of persons for the construction, operation and management of
the Project.
Section 5.5. Hold Hmmle~~-Developer will indemnify and hold hannless (without
limit as to amount) City and its elected officials , officers , employees and agents in their official
capacity (hereinafter collectivel y referred to as "Indemnitees"), and any of them, from and
agai nst all lo ss , all 1.isk of loss and all damage (including expense) sustained or incmTed because
of or by reason of any and all claims, demands, sui ts, actions, judgments and executions for
damages of any and every kind an d by whomever and whenever made or obtained, allegedly
caused by, arising out of or relating in any 1nmmer to the Project, the Affordable Units, or
Developer 's perfonnance or non-perfonnance under this Agreement, including claims pursuant
to California Labor Code Section 1 720 et~., and shall protect and defend Indemnitees, and any
of them with respect thereto , except to the extent arising from the gross negligence or willful
misconduct of the I11dem~1itees. The provisions of this Section shall survive expiration or other
termination of this Agreement or any release of part or all of the Property from the burdens of
this Agreement, and the provisions of this Section shall remain in full force and effect.
Section 5.6. Notices. All notices required pursuant to thi s Agreement shall be in
w1iting and may be given by personal delivery or by registered or certified mail, return receipt
requested, to the Party to receive such notice at the addressed set forth below:
TO THE CITY:
City of Cupe1iino
Office of City Attorney
l 0300 Torre Avenue
Cupertino, CA 94301
14
TO THE DEVELOPER:
Albert Wang
Maiina Plaza, LLC
4546 El Camino Real , Suite 222
Los Altos, CA 94022
WITH A COPY TO:
Samuel A. Chuck
Rossi, Hamerslough, Reischl & Chuck, PLC
1960 The Alameda, Suite 200
San Jose, CA 95126
Any Party may change the address to which notices are to be sent by notifying the other Paiiies
of the new address, in the manner set forth above.
Section 5 . 7 . Integrated Agreement; Relationship to Other Related Agreements and
Documents. This Agreement constitutes the entire Agreemerit between the Paiiies and no
modification hereof shall be binding unless reduced to w1iting and signed by the Parties hereto .
The paiiies acknowledge that this Agreement was negotiated concurrently with the Development
Agreement. The Paiiies hereby agree that in the event of a direct conflict between this
Agreement and the Development Agreement, this Agreement shall control. In addition, in the
event of any direct conflict between a material term of this Agreement (including but not limited
to , the Term) and the tenns of the Policy and Procedures Manual, this Agreement shall control.
Section 5.8. Each Party's Role in Drafting the Agreement. Each Party to this
Agreement has had an opportunity to revi ew the Agreement, confer with legal counsel regarding
the meaning of the Agreement, and negotiate revisions to the Agreement. Accordingly, neither
Party shall rely upon Civil Code Section 1654 in order to interpret any uncertainty in the
meaning of the Agreement.
Section 5.9. Amendment of Agreement; Approvals and Consents.
(a) Amendments to this Agreement shall be subject to the review and
approval of the City Council. No amendment may be approved that is inconsistent with State
law, the Cupertino Municipal Code, the Development Agreement, or the Policy and Procedure
Manual. Upon approval, a restated Agreement or amendments to this Agreement, as appropliate,
shall be executed and recorded.
(b) The City has authorized the City Manager to execute this Agreement and
has auth01ized the Director to deliver such approvals or consents as are required by this
Agreement. Any consents or approvals required under this Agreement shall not be unreasonably
withheld or made, unless it is specifically provided that a sole discretion standard applies.
Section 5 . 10 . No C@ims. Nothing contained in this Agreement shall create or justify any
claim against the City by any person that Developer may have employed or with whom
15
Developer may have contracted relative to the purchase of materials, supplies or equipment, or
the furnishing or the perfo1mance of any work or services with respect to the Property or the
constrnction of the Project or construction of the Affordable Units.
Section 5.11. Applicable Law. This Agreement shall be governed by California law .
Venue shall be the County of Santa Clara.
Section 5.12. Waivers. Any waiver by the City of any obligation or condition in this
Agreement must be in writing. No waiver will be implied from any delay or failure by the City to
take action on any breach or default of Developer or to pursue any remedy allowed under this
Agreement or applicable law. Any extension of time granted to Developer to perfonn any
obligation under this Agreement shall not operate as a waiver or release from any of its
obligations under this Agreement. Consent by the City to any act or omission by Developer shall
not be construed to be consent to any other or subsequent act or omission or to waive the
requirement for the City's written consent to future waivers.
Section 5.13. Title of Paiis and Sections. Any titles of the sections, subsections, or
subparagraphs of this Agreement are inse1ied for convenience of reference only and shall be
· disregarded in in terpreting any paii of the Agreement's provisions.
Sectio n 5 .14 . Multiple Originals; Counterpart. This Agreement may be execute d in
multiple 01iginals, e ach of which is deemed to be an original , and may be signed in counterparts.
Section 5 .15. Recording of Agreeinent. This Agreement shall be recorded against the
P ro perty in the Official Records of the County of Santa Clara prior to the recordation of any
development a gr e ement, p arcel map or final subdi v ision map or issuance of any building permit
fo r the Project, whichever occurs first.
Section 5.16. Estoppel Ce1iificate. Developer or its lender may, at any time, and from
time to time, deliver written notice to the City requesting the City to certify in writing that, to the
knowledge of the City (a) this Agreement is in full force and effect and is a binding obligation of
the Parties, (b) this Agreement has not been amended or modified or, if so amended or modified,
identifying the amendments or modifications, and ( c) Developer is not in Default in the
perfonnance of its obligations under this Agreement, or if in Default, to describe the nature of
any Defaults . Developer and City acknowledge that a ce1iificate hereunder may be relied upon
by the Developer and Mo1igagees . The Developer may request the estoppel ce1iificate to be in a
recordable fom1 and may record such certificate in the Official Records of Santa Clara County at
its sole cost and expense. The City Manager shall be auth01i z ed to execute a ny certificate
requested by Developer in a fonn reasonably approved by the City Attorney. The Developer
shall pay all costs borne by City in c01mection with its review of any proposed estoppel
certificate.
Section 5 .17 . Severability. In the event any limitation, condition, restriction , covenant,
or provision contained in this Agreement is to be held invalid, void or unenforceable by any
comi of competent jurisdiction, the remaining portions of this Agreement shall nevertheless be
and remain in full. force and e ffect.
[Signatur es on Follo wing Page}
16
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed
as of the day and year first above written.
CITY:
CITY O~IN : am,pal corporation
B y : V .c.-J ~
David Brandt, City Manager
[Signature must be notarized]
ATTEST:
By: ~4 1
~ ltJ ·]{~{(o
Grace Schmidt, City Clerk
APPROVED AS TO FORM:
.a_ n J ___ . _________ _
~1-tevenson Hom , City
Attorney
DEVELOPER:
. MARINA PLAZA, LLC , a California limi ted
liability company
By:
17
Albert Wang, Managing Member
[Signatures must be notarized}
A notary public or other officer co mpl eting this certi ficate verifi es onl y the ident ity of th e individual who signed
th e document to which this certificate is attached, and not the truthfulness , acc uracy, or va lidity of that document.
ALL-PURPOSE ACKNOWLEDGMENT NOTARY FOR CALIFORNIA
STATE OF CALIFORNIA
COUNTY OF SANTA CLARA
On __,,Q"-=c.+.-'--=-.1,-'-~,_'---/'-1C-.-L-, _'2-o_...._(--'-'--·' before me, Kir~-+t!."7 /!..e,,,:U s:"1,cv---C4'"4. I /vo-f-,,.,,,ry fub/,;c..
Na me And Title Of d fficer (e.g. "Jane 6oe , Notary Public"( Da te
personally appeared ________ f},__._-'-'( b~~'--1-'--_w_ ... _ ... +~------------
/ Na me of Signer(s)
KIRSTEN RENEE SOUARCIA Commission # 2080884
j Notary Public -California f
z Santa Clara County -t • • • • ,MJ goz21T·Jx£i[!'5.oztj,J~1~l
who proved to me on the basis of satisfactory evidence to
be the person~ whose name~ j§/are subscribed to the
within instrument and acknowledged to me that he/she/they
executed the same in .!Ji.sLher/their authorized capacity~),
and that by his/her/their signature(-s') on the instrument the
person(Ja1, or 'the entity upon behalf of which the perso~
acted, executed the instrument.
I certify under PENAL TY OF PERJURY under the laws of
the State of California that the foregoing paragraph is true
and correct.
WITNESS my hand and official seal.
~~~-~S"""ig.:...n..c,~,-,cur-e++N~o~ta-ry~P~u~bl~ic_ .. _~------·
OPTIONAL
Though this section is optional , completing this information can deter alternation of the document or fraudulent
reattachment of this form to an unintended document.
CAPACIT(IES) CLAIMED BY SIGNER(S)
Signer's Name :
D Individual
D Corporate Officer
Title (s)
D Partner(s)
D Attorney-In-Fact
D Trustee(s)
D Guardian/Conservator
D Other:
Signer is representing:
Name Of Person (s) Or Entity(ies)
D Limited
D General
DESCRIPTION OF ATTACHED DOCUMENT
Title or Type of Document
/7
Number Of Pages
Date Of Do cu ment
Signer(s) Other Th an Named Above
Acknowledgment
A notary public or 01l1er officer co mpleting this certificate verifies only the identity of the individual who s igne d
the document to which this certific ate is attached , and n ot th e truthfulness, accuracy, or va lidity of th at do cument.
ALL-PURPOSE ACKNOWLEDGMENT NOTARY FOR CALIFORNIA
STATE OF CALIFORNIA
COUNTY OF SANTA CLARA
)
)
On Oc+ober 1~,1...o/t,,. , before me, l<rrs-:-./-e,.,, /<..e...v,ee. .$'" q__vc,rc. ... ~ I }J {) .f.-.v 'I t V" I; C. ,
Name And T(tle Of Offi cer (e.g. \Jane Doe , Notary Publ ic") Date
personally appeared
-KIRSTEN RENEE SOUARC IA
Commission # 2080884
Name of Signer(s)
who proved to me on the basis of satisfactory evidence to
be the perso~ whose name,(.81 j§Lare subscribed to the
within instrument and acknowledged to me that he/she/they
executed the same in ..b.islher/their authorized capacity~,
and that by his/her/their signaturet5) on the instrument the
person,(g'J , orffie entity upon behalf of which the perso~
acted, executed the instrument.
I ceriify under PENAL TY OF PERJURY under the laws of
the State of California that the foregoing paragraph is true
and correct.
j Notary Public -California I
z Santa Clara County :!:: WITNESS rny hand and official seal.
J.. ~.· .. Mi 802'T-;Xfi[:Su°S'J,J~1tl
OPTIONAL
Though this section is optional, completing this informat ion can deter alternation of the document or fraudulent
reat tachment of this form to an unintended document.
CAPACIT(IES) CLAIMED BY SIGNER(S)
Signer's Name:
D Ind ividual
D Corporate Offic er
Titl e(s)
D Partner(s)
D Attorney-In-Fact
D Trustee(s)
D Guard ian /Conservator
D Other :
Signer is representing :
Name Of Perso n(s ) Or Entity(ies)
D Limit ed
D General
DESCRIPTION OF ATTACHED DOCUMENT
Titl e or Type of Document
Number Of Pages
Date Of Document
Signer(s) Other Than Named Above
Acknowledgmen t
ATTACHMENT 1
PROPERTY DESCRIPTION
10118-10122 BANDLEY DRIVE (APN 326-34-066)
All that celiain Real Property in the City of Cupertino , County of Santa Clara, State of
California, desc1ibed as follows:
PARCEL ONE
ALL OF PARCEL "A" AS SHOWN UPON THAT CERTAIN MAP ENTITLED, "PARCEL
MAP BEING A PORTION OF NW¼ OF SECTION 13, T. 7S., R. 1 W., M.D.B.& M .",
WHICH MAP WAS FILED FOR RECORD IN THE OFFICE OF THE RECORDER OF THE
COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, ON FEBRUARY 15, 1978 IN
BOOK 412 OF MAPS , AT PAGE 50 .
PARCELT\\10:
AN EASEMENT FOR THE PURPOSE OF VEHICULAR AND PEDESTRIAN INGRESS
AND EGRESS , AS CONVEYED BY THAT CERTAIN GRANT OF EASEMENT
RECORDED JULY 17, 198 J IN BOOK G22 J , PAGE 162 , AND BY COVENANT
REGARDING EASEMENT RECORDED JULY 17, 1981 IN BOOK 0221, PAGE 184,
OFFICIAL RECORDS , BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
THE SOUTHERLY 27 FEET OF PARCEL "B" AS SAID PARCEL "B" IS SHOWN UPON
THAT CERTAIN PARCEL MAP RECORD ED IN BOOK 412 OF MAPS, AT PAGE 50 ,
SANTA CLARA COUNTY RECORDS.
PARCEL THREE:
RECIPROCAL EASEMENTS AS DES CRIBED IN THAT CERTAIN "RECIPROCAL
EASEMENT AGREEMENT" EXECUTED BY NORCAL ASSOCIATES, A CALIFORNIA
PARTNERSHIP AND COAST FEDERAL SAVINGS AND LOAN ASSOCIATION, A
UNITED STATES CORPORATION, RECORDED JULY 18, 1979 IN BOOK E648, PAGE 568
AND BY THAT CERTAIN "DECLARATION OF ESTABLISHMENT OF COVENANTS,
CONDITIONS AND RESTRICTIONS AND RECIPROCAL EASEMENTS" RECORDED
AUGUST 22, 1979 IN BOOK E742, PAGE 703 AND AS AMENDED BY DOCUMENT
RECORDED APRIL 15, 1980 IN BOOK F272, PAGE 71, OF OFFICIAL RECORDS.
Attachment 1
f Number of
Bedrooms
One --
Two
TOTALS:
ATTACHMENT 2
SCHEDULE OF AFFORDABLE UNITS
i J Unit
-
Numbers &
I be provided Very Low _Eerate [Nlay
Income Units me Un~ts . permit]
2 nd Floor 3 rd Floor
8 1
~
8 1
16 2
Attachment 2
Location
at building
4th floor
ATTACHMENT 3
EXAMPLE OF AFFORDABLE RENTS FOR AFFORDABLE UNITS AND MAXIMUM
INCOME LEVEL OF TENANTS
(Provided for reference. These limits are adjusted annually, as determined and published
by the City. Project shall be subject to the Affordable Rents and Household Income limits
in effect at the time Developer submits marketing plan to City.)
A. Affordable Rents.
Affordable Rent is defined in Section 1.1 (a) of this Agreement. The table below illustrates how
Affordable Rent is calculated, based upon 2016 State Income Limits adopted by the California
Department of Housing and Community Development and contained in California Code of
Regulations , Title 25, Section 6932 .
Number of
Bedrooms
AMI* for
Assumed
Household
Size
Percent of
AMI
Maximum
Annual Rent
Maximum Monthly
Affordable Rent**
(1/12 of Maximum
-------------•--------+-----------------+---Ammal Rent) --
50
One $8 5 ,7 00 60
110 ---------·-----·-------+--------
L/ Two $96,400 r-
------~___J__
* AM I is A rea Median In come.
50
60
110
-
$12 ,8 55 $1,072 -~------<---------~-------i
$15 ,426
$28 ,2 81 -----$14 ,460
$17,352
I $31 ,8 12
$1,286 -~
$2 ,357 ' ~~:!~~ ___ -·j __
$2,651 --, ~----~-----~---
**A reaso nable a llowan ce fo r te nant-paid utilities must be deducted from the Tenant 's m onthly payments
to th e Developer. See definition of Rent in S ection I. I (aa) for other fees and charges that must be
deducted fro m the Tenant's monthly pay ments to th e D evelop er. 2016 utility allo wa nces are available at:
h ttp ://www. hacsc. org/assets/ I /6/2016 _Utility_ AllowancesJor _website_ update.pdf
B. Maximum Household Income of Tenants (Income Limits)
Household Size Maximum Gross Annual Household Income
(Number of Persons) Very Low Income Low Income Moderate Income
1 $39,100 $59,400 $89,950
2 $44,650 $67,900 $102,800
3 $50,250 $76 ,400 $115,650
In come lim its for larger hou seho lds available upon request from the City .
Attachment 3
VERIFICATION
I have reviewed this Affordable Housing Agreement and Declaration of Restrictive Covenants
and to the best of my knowledge, the information contained herein is true and complete.
I verify under penalty of perjury under the laws of the State of California, that the foregoing is
true and correct.
Executed on the 1st day of November, 2016, at Cupertino, California.
(){61~
Lauren Sapudar
Senior Office As sistant