RES 231360 - Laserfiche WebLink

Objective Design Standards for Housing Sites City of Pleasanton - 12 - Adopted January 26, 2023 For rental units, the following affordability mix shall be met, reflecting the rent maximums that may be set among any required inclusionary units: • A minimum of 25 percent of inclusionary units shall have rents set at no more than 30% of 50% Area Median Income (AMI) for households with incomes up to 50% AMI (Very Low Income Units) • A minimum of 25 percent of inclusionary units shall have rent set at no more than 30% of 60% AMI for households with incomes of 51% to 60% AMI (Low-Income Units) • No more than 50 percent of inclusionary units shall have rent set at no more than 30% of 80% AMI for households with incomes of 61% to 80% AMI (Low-Income units) Actual rents charged shall follow the published schedule of maximum monthly rents, by size and type of units, as provided and updated annually by the City. Qualifying incomes shall be set at the same levels as those described above (i.e., a qualifying household for a 50% AMI rent-restricted unit shall have a maximum annual income of no more than 50% AMI), with such income limits based on the schedule of income limits based on household size published annually by the City and consistent with the U.S. Department of Housing and Urban Development (HUD) annual adjustment in the AMI for the San Francisco-Oakland-Fremont Metropolitan Statistical Area. In instances where a project proposes to make use of State or Federal programs (e.g., State Housing Density Bonus Law, Low-Income Tax Credits, etc.) then the most restrictive requirements of any applicable income and rent limits established by such programs shall prevail; and for purposes of Density Bonus Law, for low-income households earning 61-80% AMI, the City shall allow, at the applicant’s request, rents to be set at 30% of actual income of such qualifying low-income households. For ownership units, prices shall be set at the following limits to result in a monthly mortgage payment (principal and interest) which does not exceed one-twelfth of 35% ofthe stated AMI, per Municipal Code Section 17.44.050.F: • 1 bedroom units to be restricted at 100% AMI • 2 bedroom condominium units to be restricted at 100% AMI • 2 bedroom townhome units/single-family units AND 3 bedroom and larger units to be restricted at 120% AMI1 Section 8 Rental Assistance Vouchers: Through the affordable housing agreements entered into between the City and each developer, the developments will generally be required to accept HUD Section 8 Rental Vouchers as a means of assisting qualified applicants. Bedroom Mix of Affordable Units: For each project, a minimum of 10% of the total affordable units will be three-bedroom units; a minimum of 45% of the total affordable units will be two-bedroom units; and the remaining affordable units will be studio or one-bedroom units except that no more than 10 % of units may be studios. 1 Household sizes for units shall be calculated based upon two persons in the case of a one-bedroom unit, three persons in the case of a two-bedroom unit, four persons in the case of a three-bedroom unit, as generally set forth in Cal. Health and Safety Code section 50052.5(h).