Community First Housing Fund. The CCBA provides that, based on a Project that is entitled for ten thousand five hundred (10,500) Units, Developer shall contribute (or cause the contribution of) a maximum of Twenty Eight Million Six-Hundred Sixty-Five Thousand Dollars ($28,665,000) on the schedule set forth in the CCBA to a Community First Housing Fund (the “Community First Housing Fund Contribution”). Under the terms of the CCBA, the Community First Housing Fund will be used to assist qualifying residents in the purchase of Units in District 10 through opportunities such as down payment assistance, rent-to- own opportunities, purchase of buildable pads, and/or the purchase of Units, inside or outside of the Project, including those specifically designed for senior citizens.
Appears in 4 contracts
Samples: Disposition and Development Agreement, Disposition and Development Agreement, Disposition and Development Agreement
