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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 the following: <br />A. The Affordable unit mix shall be as follows: <br />Unit Type <br />Very Low <br />Income <br />(50% of AMI) <br />Low <br />Income <br />(80% of AMI) <br />Median <br />Income <br />(100% of AMI) <br />Studio /Jr. <br />1 Bedroom <br />6 <br />2 <br />8 <br />1 Bedroom <br />3 <br />4 <br />5 <br />2 Bedroom <br />1 <br />6 <br />7 <br />3 Bedroom <br />0 <br />5 <br />5 <br />Total <br />10 <br />17 <br />25 <br />B. Affordable unit rents shall be based on the following household sizes: <br />Unit Type <br />Household Size <br />Studio /Jr. 1 Bedroom Unit <br />One (1) person household <br />1 Bedroom Unit <br />Two (2) person household <br />2 Bedroom Unit <br />Three(3) person household <br />3 Bedroom Unit <br />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 30 %. <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 Area 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 />423042387_v6 <br />