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<br />XXX.LHA wishes to transfer or cause the transfer of, and BCHA wishes to acquire: the LHA <br /> <br />Properties, the LHA Funds, the East Street Property, able contract rights, and all <br />other assets of LHA as set forth in this Agreement; and <br /> <br />XXXI.The Parties recognize and agree that in consideration of such acquisition, BCHA shall assume <br /> <br />responsibility for the LHA Debt and the obligations appurtenant to the East Street Property, <br />including the Senior East Street Note, and obligations under assigned contracts and leases; and <br /> <br />XXXII.The Parties recognize and agree that in consideration of such acquisition, BCHA shall commit to <br /> <br />expanding the provision of affordable housing in Louisville as set forth in this Agreement and <br />providing Louisville with a guaranteed seat on <br />Advisory Committee, as set forth in this Agreement. <br /> <br />NOW THEREFORE, in consideration of the mutual covenants and promises containe <br />Agreement, the parties mutually agree to the following terms and <br /> <br />1 . Louisville Affordable Units. <br /> <br />a. Beginning as of the Effective Date and continuing for a period of thirty consecutive <br />years , BCHA shall provide a minimum number of units within the City of <br />Louisville, either in its own name or in the name of entities that BCHA owns, controls, or manages, <br />including LHA Louisville Affordable , as set forth below: <br /> <br />i. The number of the Louisville Affordable Units shall equal 146. <br /> <br />ii. 25% of the Louisville Affordable Units shall be units for which the maximum <br />rents and income limits do not exceed those listed for Boulder County in <br /> Income and Rent <br />Tables, as amended, for tenants earning 50% of the Area Median Income <br />; 30% of the <br />Louisville Affordable Units shall be units for which the maximum rents and <br />income limits do not exceed those listed for Boulder County in the <br />Income and Rent Tables, as amended, for tenants earning 60% of the AMI, <br />as adjusted for family size and number of bedrooms; and 45% of the <br />Louisville Affordable Units shall be units for which the maximum rents and <br />income limits do not exceed those listed for Boulder County in the <br />Income and Rent Tables, as amended, for tenants earning 80% of the AMI, <br />as adjusted for family size and number of bedrooms. <br /> <br />5 <br /> <br /> <br />