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• <br /> SUMMARY OF CALIFORNIA CENTER AFFODABILITY OPTIONS <br /> OPTION 1 OPTION 2 <br /> Unit Type (February 21, 2013, Proposal) (Revised Proposal) <br /> Unit Type 50% 80% 100% Total 50% 80% 100% Total <br /> Studio 5 0 0 5 5 3 8 16 <br /> I-Bedroom 5 5 5 15 3 4 5 12 <br /> 2-Bedroom 0 6 0 6 0 4 6 10 <br /> 3-Bedroom 0 10 0 10 0 4 4 8 <br /> Total 10 21 5 36 8 15 23 46 <br /> DISCUSSION <br /> As indicated in the above table, Option 2 does meet the Commission's clear goal of obtaining <br /> 15% affordable rent restricted units. However, reaching this goal involves adjusting the unit <br /> mix and levels of unit affordability. As a result, Option 2 includes fewer 504% AMI and 80% <br /> AMI units and more 100% AMI units. Further, it reduces the number Df affordable three <br /> bedroom units. However, notwithstanding this reduction, half of the affordable units are clearly <br /> within the targets set by staff and the l00°A AMI units serve the purpose of avoiding significant <br /> rent spikes for long term tenants at this income range. Also, while staff is not privy to the <br /> developer's project start-up rents, it has been informed that some could exceed rents affordable <br /> at 100% AMI and therefore, these units represent a rent reduction for qualified households. All <br /> other terms related to affordability remain the same and a summary of those is as follows: <br /> • As an example of income levels, the current AMI at 50% for a one person household that <br /> would determine rents of the studio units is $31,200. The current AMI at 80% for a five <br /> person household that would be used for determining rents for the 3-bedroom units is <br /> $77,050. The current AMI at 100% for a two person household that would be used for <br /> determining rents for the 1-bedroom units is $71,350. <br /> • The agreement will be recorded with the land and the affordability would remain in <br /> perpetuity. <br /> Requires the development to accept Section 8 housing vouchers from eligible qualified <br /> applicants. <br /> Affordable units will be rented based on the City's adopted preference system. <br /> Payment of the City's Lower Income Housing Fee is not required as the development will <br /> meet the goals of the City IZO. <br /> One affordable I-bedroom unit, one affordable 2-bedroom unit and one affordable <br /> 3-bedroom unit as included in l(A) above shall be fully accessible for the physically <br /> disabled. Unit design shall include amenities such as grab bars, mod-lied case work and <br /> bathroom facilities and other amenities deem significant for disabled access. <br /> Page - 2 - <br />