Development and Timing Sample Clauses

Development and Timing. Section 5 of the First Amendment is hereby deleted in its entirety and replaced with the following: (a) Developer shall be responsible for developing 210 Below Market Rate Homes consisting of 51 townhomes affordable to Moderate Income Households with incomes not exceeding 120% of Area Median Income (“Moderate Income Townhomes”), 51 townhomes affordable to 135% AMI Households (“Workforce Townhomes”), 23 cottages affordable to 150% AMI Households (“Workforce Cottages”) and 85 bridge homes (“Bridge Homes”). (b) For purposes of this Section the following terms shall have the meaning specified below. Terms not otherwise defined in this Section shall have the meaning set forth in the BMR Policies and Procedures: