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approve this Project, which is statutorily exempt from CEQA pursuant to Article 18, Statutory Exemptions, Section 15268 of the CEQA Guidelines .
I. WHEREAS, the CITY has determined that this Agreement is in the best interest of, and will materially contribute to, the Housing Element of the General Plan. Further, the CITY has found that the Project: (i) will have a positive influence in the neighborhood and surrounding environs, (ii) is in the vital and best interest of the CITY, and the health, safety, and welfare of CITY residents, (iii) complies with applicable federal, State, and local laws and requirements, (iv) will increase, improve, and preserve the community's supply of Low to Very Low-Income Housing available at an affordable cost to Very-Low to Low-Income household, as defined hereunder, (v) planning and administrative expenses incurred in pursuit hereof are necessary for the production, improvement, or preservation of Very-Low to Low-Income Housing, and (vi) will comply with any and all owner participation rules and criteria applicable thereto.
J. WHEREAS, the CITY and DEVELOPER have determined that the Project's SLFRF-Assisted Units constitute routine programmatic/grantee lender activities utilizing available and allocated program/grantee funding, outside the reach of the California Constitution Article XXXIV and enabling legislation.
K. WHEREAS, the parties acknowledge and agree that the obligations and liabilities of the DEVELOPER hereunder shall be joint and several unless and except to any extent expressly provided otherwise.
L. WHEREAS, on June 21, 2022 , the Board of the Housing Authority of the City of Fresno, CA, sole member of Fresno Step Up at 99, AGP, LLC, the Administrative General Partner of DEVELOPER, reviewed and approved the development of the Project and SLFRF Application for funding.
NOW, THEREFORE, IN CONSIDERATION of the above recitals, which recitals are contractual in nature, the mutual promises herein contained, and for other good and valuable consideration hereby acknowledge, the parties agree as follows:
ARTICLE 1. DEFINITIONS
The following terms have the meaning and content set forth in this Article wherever used in this Agreement, attached exhibits or attachments that are incorporated into this Agreement by reference.
1.1 Acquisition means vesting of the Property in fee title to the DEVELOPER.
1.2 ADA means the Americans with Disabilities Act of 1990, as most recently amended.
1.3 Affirmative Marketing means a good faith effort to attract eligible persons of all racial, ethnic and gender groups, in the housing market area, to rent the proposed Housing Units proposed for rehabilitation and construction on the eligible Property, as hereinafter defined.
1.4 Affordability Period means the minimum period of 55-years commencing from the date the CITY records a Certification of Completion.
1.5 Affordable Housing means 10 of the 63 housing units required to meet the affordability requirements of the SLFRF.
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