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housing, all of which fuel the outcome of negotiations. Based on this direction, staff has focused its efforts on pursuing creative options for meeting long term affordable housing needs. As a point of reference, since the Urban Habitat Settlement Agreement and approval of updated General Plan Housing Element, the City Council has approved five apartment rental developments. As indicated in Attachment 2, assuming approval of the Summerhill development, a total of 268 (16%) of the total 1,711 units will have rent restrictions based on household income. As such, collectively these meet the IZO target of obtaining 15% rent restricted units. However, because a portion of these units are restricted to median income households they are not fully consistent with the IZO's goal of restricting units to very-low and low income households. Nevertheless, considering the legal environment concerning affordable housing, the restrictions represent a considerable increase in the number of rent restricted units. In view of the City Council's direction at the May 1 joint workshop, staffs negotiation with Summerhill, as with the other developers, included a range of concepts intended to offer various ways of meeting the intent of the IZO. As an outcome of the negotiations, a recommended draft. Affordable Housing Agreement has been prepared. A listing the AHA's most notable terms are as follows: • Provide 27 units (15% of the total 177 units) as rent restricted affordable units as follows: AHA Affordable Unit MIX Unit Type Unit Mix for Affordable Units Unit Type 50% AMI 80%0.AMI__ _100% AMI Total 1-Bedroom 3 7 5 15 55% 2-Bedroom 2 4 3 9 34% 3-Bedroom 1 1 1 3 11% Total 6 12 9 27 100% • Unit household sizes for determining rents will be consistent with standards used typically in the City's AHA's. • The agreement will be recorded with the land and remain affordable for perpetuity. • Requires the development to accept Section 8 housing vouchers from eligible qualified applicants. • Affordable units will be marketed by the developer and rented based on the City's adopted preference system. Page -4 -