Community Builder Program. During the build out of the Project, five hundred (500) Units (not including Agency Affordable Units) across a spectrum of affordability levels (the “Community Builder Units”) will be made available for development by or with the assistance of Community Builders. The Community Builder Units will be distributed throughout the Project Site on Lots that are identified and Approved by the Agency in the Major Phase Approval for each Major Phase which contains Residential Projects (each such Lot, a “Community Builder Lot”). To increase the likelihood that Community Builders are able to participate in the development of the Community Builder Lots irrespective of their capital capacity and risk tolerance, Community Builder Units will be available for development under three (3) separate models, each of which will afford Community Builders with the opportunity to actively and substantially participate in the day-to-day responsibilities associated with the development of the Community Builder Units. Such models, each of which are more particularly described in Exhibit G-A, permit the development of Community Builder Units: (1) directly by a Community Builder (an Independent Community Builder (as defined in Exhibit G-A)); (2) by a Community Builder as an assistant developer to Vertical Developer (a Fee Developer Community Builder (as defined in Exhibit G-A)); and (3) in a joint venture consisting of a Community Builder and a Vertical Developer (including a Vertical Developer comprised of a Qualified Buyer, Developer and/or its Affiliate) (a Joint Venture Community Builder (as defined in Exhibit G-A)). The services to be provided, capital required and return or compensation associated with each model are as follows:
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Samples: Disposition and Development Agreement, Disposition and Development Agreement, Disposition and Development Agreement
