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Affordable Housing and Housing Commission Recommendation At its February 21, 2013, meeting, the Housing Commission reviewed an Affordable Housing Agreement (AHA) for the project, which included 36 affordable units, with 10 of the units rented at rates affordable to very-low-income households (50% of the annual median income for Alameda County), 21 of the units rented at rates affordable to low-income households (80% of the annual median income), and five units rented at rates affordable to moderate-income households (100% of the annual median income). The Housing Commission did not take action on the AHA, but continued the item, directing staff to meet again with the applicant to work toward providing 46 affordable units. Since that time, staff met with the developer on a number of occasions in an attempt to develop an affordability level and unit mix that most closely reflects the intent of the City's Inclusionary Zoning Ordinance (IZO), City development standards and design guidelines, and the Housing Commission's interest. As an outcome of those discussions, a revised AHA was created. The revised AHA meets the City's IZO goal of 15% affordable units. A summary of the original AHA (Option 1) and the revised AHA (Option 2) is shown in the table below: SUMMARY OF CALIFORNIA CENTER AFFORDABILITY OPTIONS Unit Type OPTION 1 OPTION 2 (February 21,2013,Proposal) (Revised Proposal) 50% 80% 100% 50% 80% 100% Unit Type AMP AMI AMI Total AMI AMI AMI Total Studio 5 0 0 5 5 3 8 16 1-Bedroom 5 5 5 15 3 4 5 12 2-Bedroom 0 6 0 6 0 4 6 10 3-Bedroom 0 10 0 10 0 4 4 8 Total 10 21 5 36 _ 8 15 23 46 Annual Median Income for Alameda County Please see the attached Housing Commission staff report for additional details and discussion. Staff is recommending Option 2 as it meets the IZO's goal of 15% affordable units. In accordance with the City's IZO, a developer's affordable housing proposal and related Affordable Housing Agreement is to be reviewed by the Housing Commission which shall make a recommendation to the City Council. As such, the Planning Commission does not have a defined role in the process and the proposed level of affordability is provided for informational purposes only. The Housing Commission is scheduled to review the Affordable Housing Agreement again at its March 21, 2013, meeting. Since this Planning Commission staff report was written prior to the Housing Commission meeting, staff will indicate the outcome of the Housing Commission meeting at the Planning Commission hearing. PUD-85-08-1 D-4M Page - 23 - March 27, 2013