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2020_0518_CCPacket
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2020_0518_CCPacket
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Roseville City Council
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Council Agenda/Packets
Meeting Date
5/18/2020
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Attachment D <br />Ð Dwelling Units Ñ means the units of multifamily residential rental housing comprising the <br />Project. <br />Ð Event of Default Ñ has the meaning specified in Section 13 hereof. <br />Ð Fiscal AgentÑ means U.S. Bank National Association, or any successor or assign. <br />Ð Functionally Related and Subordinate Ñ shall mean and include facilities for use by <br />tenants, for example, laundry facilities, parking areas, and recreational facilities, provided that the <br />same is of a character and size commensurate with the character and size of the Project. <br />Ð Funding Lender Ñ means the Initial Funding Lender and any subsequent holder of the <br />Note. <br />Ð Governmental Lender Ñ means the City of Roseville, Minnesota, a municipal corporation <br />and political subdivision of the State. <br />Ð Housing Act Ñ means the United States Housing Act of 1937, as amended, codified as 42 <br />U.S.C. Sections 1401 et seq. <br />Ð Loan Ñ means the loan of the proceeds of the Note provided by the Governmental Lender <br />to the Borrower pursuant to the Loan Agreement to provide refinancing for the Project. <br />Ð Loan Agreement Ñ means the Project Loan Agreement, dated as of June 1, 2020, among <br />the Governmental Lender, the Borrower, and the Fiscal Agent, as it may be amended and <br />supplemented from time to time. <br />Ð Low Income Tenants Ñ means persons or families with Adjusted Income which does not <br />exceed 60% of the Median Income for the Area adjusted for household size. In no event will the <br />occupants of a unit be considered to be Low Income Tenants if all of such occupants are students <br />(as defined in Section 152(f)(2) of the Code), unless the unit is occupied: <br />(i) by an individual who is (A) a student and receiving assistance under Title <br />IV of the Social Security Act, (B) a student who was previously under the care and <br />placement responsibility of the State agency responsible for administering a plan under <br />Part B or Part E of Title IV of the Social Security Act, or (C) enrolled in a job training <br />program receiving assistance under the Job Training Partnership Act or under other similar <br />federal, State, or local laws; or <br />(ii) entirely by full-time students if such students are (A) single parents and their <br />children and such parents are not dependents (as defined in Section 152 of the Code, <br />determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof) of another <br />individual and such children are not dependents (as defined in Section 152 of the Code, <br />determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof) of another <br />individual other than a parent of such children, or (B) married and entitled to file a joint <br />return. <br /> 3 <br />12519391v3 <br /> <br />
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