Common use of Jobs Creation Clause in Contracts

Jobs Creation. The Parties acknowledge that (i) the City has entered into that certain Funding Approval/Agreement (B-02-MC-06-0501) with the United States Department of Housing and Urban Development (“HUD”) pursuant to which HUD has provided Ten Million Dollars ($10,000,000) to the City to pay for certain costs associated with the Project (the “Section 108 Loan for the Project”), (ii) the City has also entered into that certain Xxxxxxxxxx Economic Development (BEDI) Grant Agreement (“BEDI Grant Agreement”) with HUD pursuant to which HUD granted the City Six Hundred Fifty Thousand Dollars ($650,000) to be used for the purpose of paying interest on the Xxxxxxx 000 Xxxx, (xxx) pursuant to that certain Second Amended and Restated Cooperation Agreement (Lincoln/Beach Section 108 Loan) dated as of July 1, 2004 between the City and Anaheim Redevelopment Agency (the “City/Agency Cooperation Agreement”), the Anaheim Redevelopment Agency utilized the proceeds of the Section 108 Loan for the Project, and (iv) in consideration for making the Section 108 Loan for the Project and entering into the BEDI Grant Agreement, HUD requires, among other things, that the City provide that at least fifty-one percent (51%) of the jobs created by the operation of the Project (the “Project Jobs”) be held by, or be made available to, persons of low and moderate income (the “HUD Jobs Creation National Objective”). Accordingly, the Parties intend to satisfy the HUD Jobs Creation National Objective as set forth in this Section 404. For the purposes of this Section 404, the term “Project” shall include all activities on the Retail Component Property, the Mixed Use Commercial Component Property, and the Grocery Store Component Property that qualify as “Project Jobs.”

Jobs Creation. The Parties acknowledge that (i) the City Landlord has entered into that certain Funding Approval/Agreement (B-02-MC-06-0501) with the United States Department of Housing and Urban Development (“HUD”) HUD pursuant to which HUD has provided Ten Million Dollars ($10,000,000) to the City Landlord to pay for certain costs associated with the Project (the “Section 108 Loan for the Project”), (ii) the City has also entered into that certain Xxxxxxxxxx Economic Development (BEDI) Grant Agreement (“BEDI Grant Agreement”) with HUD pursuant to which HUD granted the City Six Hundred Fifty Thousand Dollars ($650,000) to be used for the purpose of paying interest on the Xxxxxxx 000 XxxxSection 108 Loan, (xxxiii) pursuant to that certain Second Amended and Restated Cooperation Agreement (Lincoln/Beach Section 108 Loan) dated as of July 1, 2004 between the City Landlord and Anaheim Redevelopment Agency (the “CityLandlord/Agency Cooperation Agreement”), the Anaheim Redevelopment Agency utilized the proceeds of the Section 108 Loan for the Project, and (iv) in consideration for making the Section 108 Loan for the Project and entering into the BEDI Grant Agreement, HUD requires, among other things, that the City Landlord provide that at least fifty-one percent (51%) of the jobs created by the operation of the Project (the “Project Jobs”) be held by, or be made available to, persons of low and moderate income (the “HUD Jobs Creation National Objective”). Accordingly, the Parties intend to satisfy the HUD Jobs Creation National Objective as set forth in this Section 40414.3. For the purposes of this Section 40414.3, the term “Project” shall include all activities on the Retail Component Property, the Mixed Use Commercial Component Property, and the Grocery Store Component Property that qualify as “Project Jobs.”

Jobs Creation. The Parties acknowledge that (i) the City has entered into that certain Funding Approval/Agreement (B-02-MC-06-0501) with the United States Department of Housing and Urban Development (“HUD”) pursuant to which HUD has provided agreed to provide up to Ten Million Dollars ($10,000,000) to the City to pay for certain costs associated with the Project Improvements (the “Section 108 Loan for the ProjectImprovements”), (ii) the City has also entered into that certain Xxxxxxxxxx Economic Development (BEDI) Grant Agreement (“BEDI Grant Agreement”) with HUD pursuant to which HUD granted the City Six Hundred Fifty Thousand Dollars ($650,000) to be used for the purpose of paying interest on the Xxxxxxx 000 Xxxx, (xxx) pursuant to that certain Second Amended and Restated Cooperation Agreement (Lincoln/Beach Section 108 Loan) dated as of July 1, 2004 between the City and Anaheim Redevelopment Agency (the “City/Agency Cooperation Agreement”), the Anaheim Redevelopment Agency utilized City has agreed to transfer the proceeds of the Section 108 Loan for the ProjectProject to the Agency promptly upon the City’s receipt of such proceeds, and (iviii) in consideration for making the Section 108 Loan for the Project and entering into the BEDI Grant AgreementImprovements, HUD requires, among other things, that the City Agency (on behalf of the City) provide that at least fifty-one percent (51%) of the jobs created by the operation of the Project (the “Project Jobs”) be held by, or be made available to, persons of low and moderate income (the “HUD Jobs Creation National Objective”). Accordingly, the Parties intend to satisfy the HUD Jobs Creation National Objective as set forth in this Section 404. For 404.1 Project Jobs Description. Prior to commencing construction of the purposes Improvements with respect to each of this Section 404the Major Tenants, Developer shall provide Agency a description, in a form reasonably acceptable to Agency, of all of the term “Project” shall include all activities on Project Jobs, indicating which of the Retail Component Property, Project Jobs are full time equivalent positions (the Mixed Use Commercial Component Property, and the Grocery Store Component Property that qualify as “Project Jobs Description”); the Project Jobs Description shall denote which of the Project Jobs have job qualifications requiring no more than a high school education and/or one (1) year of training or work experience (“Qualifying Project Jobs”). Developer shall update the Project Jobs Description promptly upon a substantial change in such jobs and/or job qualifications, but in no event less than annually.”