THE AFFORDABLE HOUSING PROJECT. 3.1. The Grant Recipient shall procure the carrying out and completion of the Works
THE AFFORDABLE HOUSING PROJECT. The Affordable Housing Project will be reviewed and approved through Binding Site Plan Approval to enable seven (7) townhomes to be sold separately and provide permanent affordability (“Project”). The Developer shall sell two (2) of the units at or below 50% area medium income (AMI) and the remaining five (5) units at 80% AMI or less. In the event the City receives any funds pursuant to Substitute House Bill 1406, the City will transfer one (1) years’ collection of such affordable housing funds to Developer in consideration of providing at least two (2) units at or below 50% AMI; provided, however, that Developer shall in all events sell two (2) of the units at or below 50% AMI. The land will be held in permanent trust by the Developer with restrictive covenants or trust restrictions running with the Property limiting home ownership to those persons meeting the foregoing AMI limits. Developer shall be solely responsible for all administrative functions associated with ensuring that any buyer meets such AMI limitations. Developer shall file a restrictive covenant running with the land, in form and content acceptable to the City Attorney.
THE AFFORDABLE HOUSING PROJECT. The Grant Recipient shall procure the carrying out and completion of the Works in a proper and workmanlike manner; in compliance with this Agreement, which includes without limitation, the Specification, any Statutory Requirement and Consents and shall give all notices required by the Statutory Requirements; diligently and in a timely fashion, using reasonable endeavours to achieve Practical Completion on or before the Longstop Date. The Grant Recipient agrees to enter into a Nominations Agreement in substantially the form set out in Schedule 6 attached hereto before Practical Completion. The Grant Recipient shall be responsible for and be liable for the design of the units funded. Through this agreement such liability shall not, for the avoidance of doubt, be reduced, obviated, diminished or avoided by the fact that any part of the design was carried out by the Council or otherwise. The Grant Recipient shall develop and finalise the design and specification of the Affordable Housing units. In relation to the design of the units the Grant Recipient warrants that: it has used, and will continue to use, the degree of skill and care in the design of the affordable housing units that would reasonably be expected of a competent professional designer experienced in carrying out design activities of a similar nature, scope and complexity to those comprised in the Works; the Grant Recipient’s design complies with the Consents and Statutory Requirements (as applicable); and the Grant Recipient’s design complies with, and wherever possible exceeds, the minimum requirements set out in local, regional and national guidance on the standards and quality for Affordable Housing Units. The Council expressly acknowledges that the Grant Recipient’s maximum liability under this Agreement (whether pursuant to Clause 8 or otherwise) shall not, in any circumstance, exceed the sum paid to it by the Council under this Agreement.
