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ATTACHMENT 4 <br />Criteria for Affordable Units Sales Price Setting <br />A The Affordable Sales Price for the Affordable Units shall meet the definition in Municipal Code <br />section 17.44.030 as reasonably determined by the City and its consultant Bay Area Affordable <br />Homeownership Alliance, Inc. (BAAHA), California Density Bonus Law, and criteria for such <br />calculation will include: <br />AMI Allowance per Household Income <br />AMI Basis For Calculation <br />Household size analysis <br />Unit bedroom size <br />Maximum household size allowance <br />Maximum household income allowance <br />100% AMI per household size <br />Maximum pricing allowance % multiple (per IZO) <br />Household Income allowance - based on minimum pricing allowance % multiple <br />Income allowance monthly <br />Maximum housing cost allowance as % <br />Maximum housing cost allowance monthly <br />Sale price per affordability calculation *1 <br />Down payment for calculating affordability as % <br />Down payment provided <br />PDALP subsidy provided <br />Total funds applied towards down payment <br />First mortgage loan amount <br />Loan To Value of 1 st Mortgage <br />Housing Cost Analysis <br />Interest rate applied towards mortgage <br />Mortgage payment allowance based on 30 -year mortgage <br />Mortgage insurance (.0072 factor on principal balance) <br />Taxes @ 1.2% of sales price <br />Property Insurance factor higher for SFR <br />Home owners association maintenance expense <br />Utilities (HACA utility allowance) *2 <br />Total monthly cost allowance <br />Housing cost allowance for household income for reconciliation <br />Reconciliation calculation difference between allowance and calculated <br />(should be $0) <br />*1 Assumes that BMR price includes cost of solar panels which is incorporated into the purchase price <br />BMR purchaser is also the owner of the solar panels for their unit. <br />*2 Assumes all appliances and HVAC systems are electrical. <br />P23-0177 — 3200 Hopyard <br />Draft Affordable Housing Agreement <br />Page 12 of 12 <br />102657\17581921v2 <br />