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1. Of the 345 apartment units, 52 shall be "Affordable" units. Developer shall make <br /> ten (10) Affordable units available for rent to households at or below 50% of the <br /> Area Median Income, seventeen(17) Affordable units available for rent to <br /> households at or below 80% of the Area Median Income, and twenty-five(25) <br /> Affordable units available for rent at or below 100%) of the Area Median Income <br /> as set forth herein. The Affordable units shall be consistent with 1 he following: <br /> A. The Affordable unit mix shall be as follows: <br /> Very Low Low Median <br /> Unit Type Income Income f ncome <br /> (50% of AMI) (80% of AMI) (100% of AMI) <br /> Studio/Jr. 6 2 8 <br /> 1 Bedroom <br /> 1 Bedroom 3 4 5 <br /> 2 Bedroom 1 6 7 <br /> 3 Bedroom 0 5 5 <br /> Total 10 17 25 <br /> B. Affordable unit rents shall be based on the following household sizes: <br /> Unit T .e Household Size <br /> Studio/Jr. 1 Bedroom Unit One 1 .erson housel.old <br /> 1 Bedroom Unit Two 2 .erson household <br /> 2 Bedroom Unit Three 3 .erson house hold <br /> 3 Bedroom Unit Five (5) person household <br /> C. The monthly rent for each of the Affordable units shall be calculated based <br /> on the following: <br /> (i) The twenty-five (25) Affordable units at Median Income shall not <br /> exceed one-twelfth of 100 % of the Area Median Income adjusted for the <br /> household sizes listed in Section B above multiplied by 30%. <br /> (ii) The seventeen (17) Affordable units at Low Income shall not exceed <br /> one-twelfth of 80 % of the Area Median Income adjusted for the <br /> household sizes listed in Section B above multiplied by 30%. <br /> (iii) The ten(10) Affordable units at Very Low Income shall not exceed <br /> one-twelfth of 50 % of the Area Median Income adjusted for the <br /> household sizes listed in Section B above multiplied by 3D%. <br /> D. Rent for Affordable units shall be based on the AMI at the time of the City <br /> issues Certificate of Occupancy and shall adjust consistent with <br /> adjustment in the AMI. If HUD fails to issue revised Are t Median <br /> Income/household income statistics for the San Francisco-Oakland- <br /> Fremont Metropolitan Statistical Area within 15 months of the previous <br /> revision, rents for the Affordable units may be adjusted based on the <br /> annual percentage increase in the San Francisco-Oakland Consumer Price <br /> Index for urban wage earners and clerical workers. <br /> 2 <br /> #23042387_v5 <br />