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DOC # 2010-0551030 <br /> 11/1512010 04:34P Fee:NC <br /> Page 1 of 7 <br /> WHEN RECORDED MAIL TO: Recorded in official Records <br /> R <br /> County of Riverside <br /> Larry U• 61ard <br /> Assessor, County Clerk & Recorder <br /> 11111441111111 <br /> 11141111111111111111111111111111141111111 <br /> Housing Authority of <br /> The City of Riverside <br /> Attn: Authority Secretary S R U PAGE SIZE DA MISC KONG RFD COPY <br /> 3900 Main Street, 7`h Flr. :L_ <br /> Riverside, CA 92522 M A L 465 426 PCOR NCOR SMF NCH E AM <br /> T. CTY UNI <br /> Al <br /> (This document is exempt from recording fees <br /> pursuant to Government Code Section 6103) <br /> a <br /> r <br /> 50� <br /> DISPOSITION AND DEVELOPMENT AGREEMENT <br /> INCLUDING AFFORDABILITY RESTRICTIONS <br /> BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE <br /> AND THE HOUSING AUTHORITY OF THE CITY OF RIVERSIDE <br /> This Disposition and Development Agreement is entered into this 9th day of <br /> November , 2010, by and between the REDEVELOPMENT AGENCY OF THE CITY OF <br /> RIVERSIDE and the HOUSING AUTHORITY OF THE CITY OF RIVERSIDE for the use of <br /> Redevelopment Housing funds with reference to the following facts: <br /> RECITALS <br /> This Disposition and Development Agreement (hereinafter, referred to as "Agreement") <br /> is entered into with reference to the following facts: <br /> WHEREAS, the Housing Authority of the City of Riverside ("Authority") is acquiring <br /> property located at Assessor's Parcel Number 213-172-006 ("Property") from the <br /> Redevelopment Agency of the City of Riverside which is described on the attached Exhibit "A", <br /> to be utilized for future affordable housing development; <br /> WHEREAS, the Redevelopment Agency of the City of Riverside ("Agency") acquired <br /> the Property using low income and moderate income housing set aside funds ("Housing Set <br /> Aside Funds"), as described in Health and Safety Code § 33334.2, <br /> WHEREAS, in consideration for the transfer of the Property to the Authority, the <br /> Authority agrees to have certain restrictions placed on the future use of the Property; <br /> WHEREAS, the Project is in the vital and best interest of the Agency and Authority and <br /> the health, safety and welfare of its residents, and in accordance with the public purposes and <br /> 1 <br />