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F. For purposes of calculating the Affordable Rent or Affordable Sales Price of an Inclusionary <br /> Unit, the following household size assumptions shall be used for each applicable dwelling <br /> Unit Type: <br /> <br />Unit Size <br />Studio Unit <br />One Bedroom Unit <br />Two Bedroom Unit <br />Three Bedroom Unit <br />Four or more Bedroom Unit <br /> <br />HUD Income Category <br />By Household Size <br />One Person <br />Two Persons <br />Three Persons <br />Four Persons <br />Five or more Persons <br /> <br />G. The City's adopted preference and priority system shall be used for determining eligibility <br /> among prospective beneficiaries for affordable housing units created through the <br /> Inclusionary Zoning Ordinance. <br /> <br />Section 17.44.060. Affordable Housing Agreement <br /> <br />An Affordable Housing Agreement shall be entered into by the City and the Project Owner. The <br />Agreement shall record the method and terms by which a Project Owner shall comply with the <br />requirements of this Chapter. The approval and/or recordation of this Agreement shall take <br />place prior to final map approval or, where a map is not being processed, prior to the issuance of <br />building permits for such lots or units. <br /> <br />The Affordable Housing Agreement shall state the methodology for determining a unit's initial <br />and ongoing rent or sales and resale price(s), any resale restrictions, occupancy requirements, <br />eligibility requirements, City incentives including second mortgages, recapture mechanisms, the <br />administrative process for monitoring unit management to assure ongoing affordability and <br />other matters related to the development and retention of the inclusionary units. <br /> <br />In addition to the above, the Affordable Housing Agreement shall set forth any waiver of the <br />Lower Income Housing Fee. For projects which meet the affordability threshold with Very Low <br />and/or Low Income units, all units in the project shall be eligible for a waiver of the Lower <br />Income Housing Fee. For Single Family Residential Projects which meet the affordability <br />threshold with Moderate Income units, or Multiple Family Residential Projects which do not <br />meet the affordability threshold, only the Inclusionary Units shall be eligible for a waiver of the <br />Lower Income Housing Fee except as otherwise approved by the City Council. <br /> <br />To assure affordability over the life of the unit, the Aflbrdable Housing Agreement shall be <br />recorded with the property deed or other method approved by the City Attorney. In the event an <br />Inclusionary unit is affordable by design the Affordable Housing Agreement shall stipulate the <br />method for assuring that the units retain their affordability as the housing market changes. <br /> <br />Ordinance No. 1818 <br /> Page 6 <br /> <br /> <br />