3_Exhibit E - Laserfiche WebLink

Page - 4 - 1) For households whose income do not exceed 60% AMI, monthly rent is calculated at 1/12 of 30% of 60% AMI, adjusted for household size, per SDBL (see California Health and Safety Code section 50053(b)(4)). 2) For households earning between 61% to 80% AMI, monthly rent is calculated at 1/12 of 30% of the gross household income, as permitted by SDBL (see California Health and Safety Code section 50053(b)(4)). • The affordable units shall be marketed by the developer and rented based on the City’s Preference System and in compliance with federal and state Fair Housing laws. • The agreement will be recorded with the land and remain affordable in perpetuity. This City IZO requirement is longer than SDBL, and hence the stricter rule applies. • Requires the development to accept Section 8 housing vouchers from eligible qualified applicants. Staff Recommendation As outlined in the IZO, the Housing Commission’s role is to recommend to the City Council to accept, reject, or amend the terms of the proposed AHA. The Commission may also make recommendations to the Planning Commission concerning conformance with the IZO. However, the Planning Commission does not have an identified role in determining project affordability, and therefore, any such recommendation would be related to project planning issues as they relate to affordable units. Based on review of the overall project site plan, staff has not identified any concern regarding building or site design that impact affordability. Should the Commission reject the proposed AHA, staff recommends that the Commission provide detailed rationale to the City Council for their consideration of the AHA as part of the City Council’s review of the Project. The Commission’s request for specific amendments to the AHA may also be discussed and forwarded to the City Council for review and consideration. Overall, staff’s opinion is that the proposed AHA is consistent with both the Inclusionary Zoning Ordinance and mandatory State Density Bonus Law; and therefore, suggests that the Commission recommend approval of the AHA to the City Council. Following the Commission’s action, staff will forward the Commission’s recommendation to the City Council concurrent with and as part of the City Council’s review of the proposed Planned Unit Development.