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2010/12/22 Council Agenda Packet
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2010/12/22 Council Agenda Packet
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Council Agenda Packet
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12/22/2010
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I E. Assignment of Obligations <br /> Except as set forth herein, the Agency shall not assign any of its obligations under <br /> this AHTF Agreement, but shall remain obligated at all times to perform according to <br /> the terms of this AHTF Agreement. Notwithstanding any other provision of this <br /> AHTF Agreement, the City consents to the assignment by the Agency of its rights <br /> and obligations under this AHTF Agreement to the Owner pursuant to the terms and <br /> conditions of the Assignment, Assumption and Consent Agreement in the form of <br /> Exhibit E attached hereto and incorporated herein by this reference (the <br /> "Assignment Agreement"). <br /> F. Public Information <br /> In all news releases and other public notices related to the Project funded under this <br /> AHTF Agreement, the Agency shall, and shall cause the Owner to, include <br /> information identifying the source of funds as the City of Everett Affordable Housing <br /> Trust Fund. <br /> II. RESIDENT POPULATION OF THE PROJECT <br /> From the date of this Agreement and continuing for forty (40) years from the date the <br /> Project certificate of occupancy is issued, except as otherwise herein provided, two (2) <br /> units of the Project shall be occupied by persons with incomes at or below 50% of <br /> median and diagnosed with chronic mental illness, physical or developmental disabilities <br /> and/or co-occurring disorders requiring the provision of supportive services (the"City <br /> AHTF-Assisted Units"), and there will be one (1) two-bedroom unit set aside for the <br /> resident manager that will not be rent-or income-restricted. All of the City AHTF- <br /> Assisted Units shall be available to tenants whose gross annual household income at <br /> the effective date of this Agreement is not more than fifty percent (50%) of the annual <br /> median income for the Seattle-Bellevue-Everett metropolitan statistical area, adjusted for <br /> household size, as estimated from time to time by the U.S. Department of Housing and <br /> Urban Development("HUD"), PROVIDED, HOWEVER, that the income of new tenants <br /> subsequent to the effective date of this Agreement shall meet the gross annual <br /> household income standard as of the date of their initial occupancy. If at any time HUD <br /> no longer estimates median income, the income standard shall be based on a program <br /> selected by the City. <br /> At occupancy, the Agency shall designate and identify to the City the two (2) specific <br /> units deemed City AHTF-Assisted Units. Said units are thereupon designated "floating <br /> AHTF Units." If and as necessary to accommodate tenant applicants' and occupants' <br /> circumstances and changes in post-occupancy income, the Agency may from time to <br /> time re-designate units as City AHTF-Assisted Units or not City AHTF-Assisted Units <br /> subject to the comparability of the units, i.e., size, features, and number of bedrooms. <br /> The Agency shall maintain continuous accounting and documentation for all such <br /> changes. <br /> The Agency shall verify the income of residents of the City AHTF-Assisted Units only in <br /> accordance with methods prescribed by or agreed to by the City. The Agency shall <br /> City of Everett <br /> AHTF Agreement <br /> 8 Washington Home of Your Own <br /> Page 3 of 15 <br />
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