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5 <br /> <br />calculating the 15 percent requirement, any decimal fraction less than or <br />equal to 0.50 may be disregarded, and any decimal fraction greater than 0.50 <br />shall be construed as one unit. <br /> <br />B. Rental Units. For rental units, the following affordability mix shall be met <br />among the required inclusionary units: <br />1. A minimum of 25 percent of inclusionary units shall have rents set at no <br />more than 30% of 50% Area Median Income (AMI) for households with <br />incomes up to 50% AMI (Very Low-Income Units) <br />2. A minimum of 25 percent of inclusionary units shall have rent set at no <br />more than 30% of 60% AMI for households with incomes of 51% to 60% <br />AMI (Low-Income Units) <br />3. No more than 50 percent of inclusionary units shall have rent set at no <br />more than 30% of 80% AMI for households with incomes of 61% to 80% <br />AMI (Low-Income units) <br />C. Ownership Units. For affordable ownership units, initial sales prices shall be <br />set at the following limits to result in a monthly mortgage payment (principal <br />and interest) which does not exceed one-twelfth of 35% of the stated AMI, for <br />household size per Subsection F, below: <br />1. 1-bedroom units to be restricted at 100% AMI <br />2. 2-bedroom condominium units to be restricted at 100% AMI <br />3. 2-bedroom townhome units/single-family units AND 3 bedroom and larger <br />units to be restricted at 120%AMl <br />D. Bedroom Mix. For each project, a minimum of 10% of the total inclusionary <br />units will be three-bedroom units; a minimum of 45% of the total inclusionary <br />units will be two-bedroom units; and the remaining inclusionary units will be <br />studio or one-bedroom units except that no more than 10% of the units may <br />be studios. This requirement shall not apply to age-restricted senior housing <br />or single-family projects. <br />E. Minimum Size. Inclusionary units may be of smaller size than the market rate <br />units in the project, subject to the following limitations: the living area of <br />ownership units may be up to 50% smaller than the size of the average <br />market rate unit in the project; for rental units the living area of each unit shall <br />be as follows: (i) a studio shall be at least 700 square feet, (ii) a one-bedroom <br />unit shall be at least 850 square feet, (iii) a two-bedroom unit shall be at least <br />1,000 square feet, (iv) a three bedroom unit shall be at least 1,250 square <br />feet, and (v) for units with more than 3 bedrooms an additional 250 square <br />feet for each additional bedroom. <br /> <br />