Housing Assistance. The Parties contemplate that, starting on the Effective Date, the city will provide assistance to Engeland for the rental or lease of housing in Los Altos through a cash payment to be dispersed to Engeland in equal payments monthly. The City will bear the actual and reasonable monthly rental or lease cost in the amount of Two Thousand Five Hundred ($2,500) Dollars per month, which shall not exceed a total annual amount of Thirty Thousand ($30,000) Dollars. The City shall provide this Housing Assistance until six (6) years following the Effective date of the contract or until Engeland decides to purchase a primary resident pursuant to Section 4(B)(2) below, whichever occurs first. Such housing shall be located within the corporate limits of the City. This housing assistance shall not be considered pensionable compensation pursuant to government code Section 7522.34(c)(7). Engeland will keep accurate records related to such lease or rental payments.
Appears in 4 contracts
Samples: City Manager Employment Agreement, City Manager Employment Agreement, City Manager Employment Agreement
