1 FIRST AMENDMENT
TO
CITY AFFORDABLE HOUSING RESTRICTIONS
[Non-Subordinate]
THIS FIRST AMENDMENT TO C ITY AFFORDABLE HOUSING RESTRICTIONS [Non-Subordinate] (“First Amendment”), is dated for purposes of identification only as of , 2025, by and between the CITY OF ANAHEIM, a California municipal corporation and charter city (“City”), and the ANAHEIM HOUSING AUTHORITY, a public body, corporate and politic (“Owner”), with reference to the following:
A. The City and ELM STREET COMMONS, a California Limited Partnership (“Developer”), are parties to that certain CITY AFFORDABLE HOUSING RESTRICTIONS [Non-Subordinate] dated as of February 9, 2007, and recorded on February 14, 2007, in the Official Records, Orange County, as Document No. 2007000097860, which is incorporated herein by this reference (“Original Agreement”), whereby City granted Developer certain waivers pursuant to Density Bonus and Affordable Rental Housing law as part of the entitlements for the affordable housing project located at 111- 125 West Elm Street in the City of Anaheim (“Project”), in exchange for the City Affordable Housing Restrictions.
B. The Owner purchased the Project from the Developer pursuant to that certain OPTION TO PURCHASE AGREEMENT (Elm Street Commons Affordable Housing Project) dated , 2025, which is incorporated herein by this reference, which included Developer’s rights and obligations under the Original Agreement.
C. Section 4 and Exhibit C of the Original Agreement provide that the Affordable Rent for the Affordable Units in the Project shall be determined annually in accordance with AMI income figures determined and published annually by HCD pursuant to California Health & Safety Code section 50053, including successor statutes and regulations.
D. The Parties desire to amend the Original Agreement to allow the Affordable Rent for the Project to be determined and set using either HCD rent calculations or TCAC rent calculations upon the discretion of the Anaheim Housing Authority as the regulatory agency.
NOW, THEREFORE, the Parties hereby agree as follows:
Section 1. Defined Terms. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings set forth for such terms in the Original Agreement.
Section 2. Affordable Rent . The Parties hereby agree tha t Section 4 (Affordable Rent) and Exhibit C of the Original Agreement are hereby amended to allow the Anaheim Housing Authority as the regulatory agency to use either HCD rent calculations or TCAC rent calculations to determine the maximum allowable Affordable Rent for the Project.
Section 3. Integration. This First Amendment, the agreements specifically referred to herein, and all attachments hereto (if any) integrate all of the terms and conditions mentioned 2 herein, and supersede all negotiations with respect to the subject matter hereof. This First Amendment amends, as set forth herein, the Original Agreement and, except as specifically amended hereby, the Original Agreement shall remain in full force and ef fect. To the extent that there is any conflict or inconsistency between the terms and provisions of this First Amendment and the terms and provisions of the Original Agreement, the terms and provisions of this First Amendment shall control and govern the rights and obligations of the Parties.
Section 4. Binding Effect of Agreement. Each of the Parties to this First Amendment represents that the person signing this First Amendment on behalf of such Party is fully authorized to execute the First Amendment on behalf such Party and has the full legal authority to bind his or her respective Party to all of the terms, conditions and provisions of this First Amendment and that no other approvals or consents are necessary in connection therewith. All terms and conditions of this First Amendment shall be binding upon the Parties, their heirs, administrators, successors, representatives and/or assigns.
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3 IN WITNESS HEREOF, the Parties enter into this First Amendment on the year and day first above written.
“CITY”
CITY OF ANAHEIM,
a municipal corporation and charter city
By:
Grace Ruiz-Stepter
Director, Housing and Community
Development Department
APPROVED AS TO FORM: ATTEST:
ROBERT FABELA, CITY ATTORNEY THERESA BASS, CITY CLERK
By: By:
Ryan O. Hodge Theresa Bass
Deputy City Attorney
“OWNER”
ANEHEIM HOUSING AUTHORITY,
A public body, corporate and politic
By:
Grace Ruiz-Stepter
Director
APPROVED AS TO FORM: ATTEST:
ROBERT FABELA, CITY ATTORNEY THERESA BASS, SECRETARY
By: By:
Ryan O. Hodge Theresa Bass
Deputy City Attorney