PC-95-95 - Laserfiche WebLink

Resolution No. PC-95-95 Page 7 6. The developer shall fund school facilities necessary to off- set this project's reasonably related impacts on the long-term needs for expanded school facilities to serve new development in Pleasanton. Determination of the method and manner of the provision of the funds and/or facilities shall be made by the Pleasanton Unified School District and the City, and it may be in addition to the school impact fees required by State law and local ordinance. The present program is described in documents entitled "Cooperation Agreement" and "Flat Fee Agreement." The developer shall be required to participate in the above-referenced program, as it may be amended, or in any successor program, prior to issuance of any building permit for the project. 7. The apartment rules shall prohibit the parking of boats, campers, and trailers on site. 8. The apartment rules shall prohibit the parking of non- registered or inoperable vehicles on site. Residents without a valid driver's license shall be discouraged from keeping vehicles on site. Rental Housinq Conditions 9. Fifty percent of the units shall be reserved for "low-income seniors", with a minimum of ten percent of the units reserved for rental by "very low income" seniors. The remaining forty percent of the units reserved for seniors at 60% of the median household income for the Oakland Primary Metropolitan Statistical Area (PMSA) based on family size as established by the Department of Housing and Urban Development (HUD). The developer shall work with staff to seek optimal financing assistance for the project to ensure that the maximum number of units that is economically feasible are rented to "very low income" seniors. A "senior" shall be any individual 62 years of age or greater. "Lower income" and "very low income" shall mean those individuals or households whose incomes are not greater than 80% ("lower income"), or greater than 60% ("lower income"), or not greater than 50% ("very low income") of the median household income for the Oakland Primary Metropolitan Statistical Area (PMSA) based on family size as established by the Department of Housing and Urban Development (HUD). The monthly rent for each of the affordable units shall not exceed one-twelfth of 30% multiplied by 80% (for lower-income), by 60% (for the 60% income range), or by 50% (for very low income) of the median income level for the Oakland PMSA as reasonably determined by the Housing Coordinator on an annual basis for a household of one or two persons (as applicable for each unit). These restrictions shall run with the land and shall be formalized through a deed restriction recorded against the property. The details of such restrictions shall