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City of Pleasanton Below- Market Rental Housing Opportunities Page 1 of 3 <br /> �t How do I e <br /> La <br /> COMMUNITY BUSINESS GOVERNMENT SERVICES <br /> Recently Visited Affordab Housing Major Apartment Com lep xe Housing Statistics <br /> o <br /> PLfASANTCN. Affordable Housin¢p Below- Market Rental Hous... <br /> Below- Market Rental Housing Opportunities <br /> IN THIS SECTION <br /> Affordable Housing <br /> Developments and fir. <br /> Programs t <br /> dousing Statistics r *ir M <br /> c T <br /> Permitting for Housing I I B� <br /> 3 <br /> City Planning Services I T l ;I. <br /> YOU MAY WANT <br /> Affordable Housing <br /> Search City Record <br /> City Below- Market Rental (BMR) Program <br /> Pleasanton <br /> Community The City encourages the construction of affordable rental housing by allowing <br /> Visiting Pleasanton special consideration for projects which provide rental apartment units at below <br /> market rent levels. Nearly 1,000 below- market rental (BMR) apartment units have <br /> been built since the mid- 1980's, including one new 100 -unit complex by <br /> Greenbriar Homes that includes 31 8MR units and opened in late summer 2002. <br /> WHAT'S NEW <br /> Newsroom 1 W er e are City BMR apartment units located? <br /> The rental apartment developments with BMR units are located throughout <br /> Pleasanton. The location and other details about each complex are listed in the <br /> table which follows this section. <br /> n What rents are charged for BMR apartment units? <br /> A January 2004 City survey of market rents being charged in apartments <br /> throughout Pleasanton showed a range of approximately $900 to $1,800 for two <br /> bedroom units ($850 to $1,500 for one bedroom units). On the average, rents <br /> charged for BMR apartment units are approximately twenty to thirty percent less <br /> than market rents in the same complex (in complexes that offer BMR units). As <br /> of January 2004, the maximum rent that can be charged for most BMR units is <br /> $1,315 for a one bedroom unit and $1,644 for a two bedroom unit. These levels <br /> are considered to be affordable to a household with 80% of the median income <br /> for Alameda and Contra Costa counties. The actual rents charged for BMR units <br /> by each complex may be less than the maximum allowed rents. Maximum <br /> allowed rent levels are adjusted annually based on new information from the <br /> federal government. <br /> n Do I qualify? <br /> In order to qualify to rent a BMR apartment, your income must generally not <br /> exceed 80% of the local median income level (several of the complexes also have <br /> apartments for households at 50% and 60% of median income). As of January <br /> 2004, the maximum annual Income for most BMR units is $46,050 for a one <br /> person household, $52,600 for two persons, $59,200 for three persons, and <br /> $65,750 for a four person household. The maximum income levels for other <br /> household sizes can be obtained from property managers or from the City's <br /> Housing Division. Qualifying income levels are adjusted annually based on new <br /> infnrmatinn from the fpripral nnvprnmpnt <br /> http: /www.ci.pleasanton.ca.us /community/ housing /below- market- rental.html 2/19/2009 <br />