Examples of Individual development in a sentence
If a transfer of ownership for all or any part of an Individual Development takes place during the Affordability Period, then the new Owner thereof shall continue to maintain the Affordable Dwelling Units within such Individual Development in accordance with this Agreement, the MOU, and the applicable Final Site Plan Approval.
During the applicable Affordability Period, each Owner of an Individual Development containing Affordable Dwelling Units shall submit an annual report (including annual recertification of each tenant of the Individual Development per the definitions and requirements of this Agreement) to the Master Association and to the HCDD by September 30 of each year.
Notwithstanding the foregoing, in the event an Owner of an Individual Development is not in compliance with any term or condition of this Agreement applicable to such Owner or such Individual Development (as opposed to the Developer or the Project as a whole, unless the Developer is the Owner), the City shall not be entitled to withhold further performance under this Agreement with respect to the Developer or other portions of the Project other than such non-complying Owner or Individual Development.
Upon request of the Developer, the City shall cooperate diligently and in good faith to record a notice and confirmation of the termination of the Affordability Period with respect to an Individual Development among the Public Records of Orange County, Florida.
To verify compliance, each Owner of an Individual Development containing Affordable Dwelling Units and the Master Association shall permit the City, at least annually, to reasonably inspect records relating to compliance with this Section 5, upon reasonable notice and within normal working hours, and shall submit to the City such documentation as reasonably required by the City to confirm compliance with this Agreement.
In addition, lease terms for Affordable Dwelling Units cannot differ from the lease terms established for the other residential units within the Individual Development (except for those lease terms reasonably required to implement and satisfy the requirements of this Agreement).
However, nothing in this Agreement shall be construed to limit (i) a Party’s rights to pursue any and all remedies, if any, under civil rights laws or (ii) the City’s right to enforce the provisions of this Agreement by withholding the issuance of permits or other such performance or the initiation of code enforcement proceedings, as to or against an Owner and/or Individual Development that is not in compliance with this Agreement.
Accordingly, except for those terms and conditions of this Agreement, particularly those terms and conditions of Sections 5 and 6 above, which specifically apply to an Owner of an Individual Development, the remaining terms and conditions of this Agreement shall automatically be released as to (and shall not be an encumbrance upon) any parcel that has been transferred to or leased to a third party who is not a Party to this Agreement (a “Transferred Parcel”).
In addition, each Owner must annually certify to the City that all Affordable Dwelling Units in such Owner’s Individual Development are suitable for occupancy, taking into account State and local health, safety, and other applicable codes and requirements.
Each Owner shall require its contractor(s) to use good faith efforts to (i) award eighteen percent (18%) of the aggregate monetary value of its Subcontracts for the applicable Individual Development to MBE subcontractors, and (ii) award six percent (6%) the aggregate monetary value of Subcontracts for the applicable Individual Development to WBE subcontractors.