Treatment of Affordable Unit Credits Created by Phase B of the Project Sample Clauses

Treatment of Affordable Unit Credits Created by Phase B of the Project. The Parties agree that any “affordable unit credits” created by virtue of the construction of affordable housing for Phase B of the Project shall be shared with the Developer to assist with the financing thereof, if needed. Any “affordable unit credits” from Phase B shared with the Developer shall be limited to the applicable category from which they are created within Phase B, meaning each credit shall be for a unit of the same level of affordability as was created in Phase B. Any “affordable unit credits” not needed to assist with the financing of Phase B of the Project shall immediately accrue to the City. Lastly, any “affordable housing credits” from Phase B that the Developer receives shall not be used within the Downtown Dublin Specific Plan area until the City has exhausted its own “affordable housing credits.” In furtherance of this Agreement, Developer shall take reasonable efforts to create the “affordable unit credits” pursuant to Section 8.68.060 of the Dublin Municipal Code.
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Related to Treatment of Affordable Unit Credits Created by Phase B of the Project

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