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HACIENDA PLEASANTON LP
City of Pleasanton
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LONG TERM AGREEMENT
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HACIENDA PLEASANTON LP
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8/23/2013 4:47:59 PM
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8/23/2013 12:21:43 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
5/21/2013
LONG TERM AGREEMENTS - NAME
HACIENDA PLEASANTON LP
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
ST ANTON
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I . A. Of the 168 apartment units,35 Ito be increased by 100%AM1 unity I shall be <br /> "Affordable" units. Developer shall make 35 Affordable units ava lable for rent <br /> to households at or below 50% of the Area Median Income,as adjusted by HUD <br /> for very low income households. The Affordable units shall be consistent with <br /> the following: <br /> The Affordable unit mix for very low income units shall be as follows: <br /> Unit Type Very Low Income <br /> (50% of AMI) <br /> 1 Bedroom 13 <br /> 2 Bedroom 18 <br /> 3 Bedroom 4 <br /> Total 35 <br /> I The Affordable unit mix for median income-based units at this Project shall be as <br /> follows: <br /> Unit Type Rent Based on <br /> Median Income <br /> (100% of AMI) <br /> 1 Bedroom 6 <br /> 2 Bedroom 2 <br /> B. Affordable unit rents shall be based on the following household sizes: <br /> Unit T le Household Size <br /> 1 Bedroom Unit Two (2) person household <br /> 2 Bedroom Unit Three (3) person household <br /> 3 Bedroom Unit Five(5) person household <br /> C. The monthly rent for each of the Affordable very low income unit: shall be <br /> calculated so that it shall not exceed one-twelfth of 50% of the Area Median <br /> Income,as adjusted by HUD for very low income households,as further adjusted <br /> for the household sizes listed in Section 1.B above multiplied by 30%. [The <br /> monthly rent for each of the Affordable median income units shall he calculated <br /> so that it shall not exceed one-twelfth of 100%of the Area Median Income, as <br /> adjusted by HUD for median income households, as further adjust ed for the <br /> household sizes listed in Section l.B above multiplied by 30%.] <br /> E. Rent for Affordable units shall be based on the AMI at the time of the City-issued <br /> Certificate of Occupancy and shall adjust consistent with HUD adjustment in the <br /> AMI. Attached as Attachment 3 hereto is a schedule of rent limits :o which the <br /> Affordable units will be subject in 2013,such limits to be adjusted from time to <br /> time pursuant to any revised schedule issued by the City (as revise f from time to <br /> time,the "City Rent Schedule"). If HUD fails to issue revised Area Median <br /> 2 <br />
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