Laserfiche WebLink
<br />ATTACHMENT B <br /> <br />F. For purposes of calculating the Affordablc Rent or Affordable Salcs Price of an <br />Inclusionary Unit, the following houschold size assumptions shall bc used for cach <br />applicable dwclling Unit Typc: <br /> <br />Unit Size <br />Studio Unit <br />Onc Bcdroom Unit <br />Two Bedroom Unit <br />Thrcc Bedroom Unit <br />Four or more Bedroom Unit <br /> <br />HUD Income Category <br />Bv Household Size <br />Onc Pcrson <br />Two Persons <br />Thrcc Pcrsons <br />Four Persons <br />Five or more Pcrsons <br /> <br />G. The City's adopted prcfcrcncc and priority system shall bc used for determining <br />cligibility among prospective bencficiaries for affordable housing units crcated <br />through the Inclusionary Zoning Ordinance. <br /> <br />Section 17.44.060. Affordable Housing Agreement <br /> <br />An Affordable Housing Agrccmcnt shall be entered into by the City and the Project <br />Owner. The Agreement shall record the method and terms by which a Projcct Owner <br />shall comply with the rcquircmcnts of this Chapter. The approval and/or recordation of <br />this Agrccmcnt shall take place prior to final map approval or, where a map is not bcing <br />processed, prior to the issuancc of building permits for such lots or units. <br /> <br />Thc Affordable I-lousing Agreement shall statc thc methodology for determining a unit's <br />initial and ongoing rcnt or sales and resale price(s), any rcsalc rcstrictions, occupancy <br />requirements, eligibility requirements, City inccntivcs including second mortgagcs, <br />recapture mcchanisms, thc administrative process for monitoring unit management to <br />assure ongoing affordability and other matters related to the dcvclopmcnt and retention of <br />thc inclusionary units. <br /> <br />[n addition to the abovc, thc Affordable Housing Agreement shall set forth any waiver of <br />the Lowcr Incomc Housing Fee. For projects which mect thc affordability thrcshold with <br />Very Low and/or Low Income units, all units in the project shall be eligible for a waivcr <br />of the Lowcr Income l'lousing Fee. For Single Family Rcsidcntial Projccts which meet <br />the affordability thrcshold with Moderate Income units, or Multiple Family Rcsidcntial <br />Projects which do not meet the afTordability thrcshold, only thc Inelusionary Units shall <br />bc eligiblc for a waiver of the Lower Income Housing Fcc cxccpt as othcrwise approved <br />by the City Council. <br /> <br />To assurc affordability ovcr the life of the unit, the Affordable Housing Agrecment sffit.l! <br />mav be recorded with thc property deed or other method approvcd by thc City Attorney. <br />In the event an Inelusionary unit is affordable by design the AfTordable Housing <br /> <br />Page 7 of 13 <br />