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HOUSING AUTHORITY OF THE CITY OF RIVERSIDE (2)
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Disposition and Development Agmt including affordability restrictions
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DOO # 20l0-055,029 <br /> 11/15/2010 04:34P Fee: <br /> RecordedPse Z of 7 <br /> in official Records <br /> County of Riverside <br /> WHEN RECORDED MAIL TO: Larry W. Ward <br /> Assessor, count <br /> y Cierk & Recorder <br /> �llll�lf�l�f <br /> ll���lf�l�lf <br /> 11�1�llll <br /> Housing Authority of <br /> The City of Riverside <br /> Attn: Authority Secretary S R U PAGE SIZE DA MISC LONG RFD COPY <br /> 3400 Main Street, 7`" Flr. ' <br /> Riverside, CA 42522 M A L 465 426 PCOR NCOR SMF NCHG EXAM <br /> T: CTY UNI <br /> (This document is exempt from recording fees <br /> pursuant to Government Code Section 6103) <br /> DISPOSITION AND DEVELOPMENT AGREEMENT 5Q9 <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 a <br /> vacant lot located at Assessor's Parcel Number 151-123-004 ("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 /> I <br />
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