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annual income ligures provided by the U.S. Department of Housing and ilrban <br />Development (MUD), as adjusted for household size. <br />I Iousehold, Moderate Income: A household whose annual income is more than 80% but <br />does not e~cecd 120% of the annual median income for Alameda County, based upon the <br />annual income ligures provided by IIUD, as adjusted for household size. <br />I Iousehold. Verv Low Income: A household whose annual income does not exceed ~0% <br />of the annual median income for Alameda County, based upon the annual income ligures <br />provided by IIUD, as adjusted for household size. <br />HUD: The United States Department of I lousing and Urban Development or its <br />successor. <br />Inclusionary Unit: A Dwelling Unit as required by this Chapter which is rented or sold at <br />affordable Rents and/or Affordable Sales Prices (as defined by this Chapter) to Very <br />Low. Low, or Moderate Income Households. <br />h~clusionarti• unit Credits: Credits approved by the City Council in the event a project <br />escceds the total number of Inclusionary Units required in this Chapter. Inclusionary <br />Unit Credits may be used by the Project Owner to meet the affordable housing <br />requirements of another project sul?_ject to approval by the City Council. <br />Income: The gross annual household income as defined by I IUD. <br />Life of the Inclusionarv Unit The term during which the affordability provisions for <br />Inclusionary Units shall remain applicable. The affordability provisions for inclusionary <br />units shall apply in perpetuity from the date of occupancy, which shall be the date on <br />which the City of Pleasanton performs final inspection for the building permit. <br />Lower Income Housin~• Fee: A fee paid to the City by an applicant for a project in the <br />City, in lieu of providing the Inclusionary Units required by this Chapter. <br />Median Income for Alameda County: The; median gross annual income in Alameda <br />County as determined by IIUD, adjusted for household size. <br />Off-Site Inclusionarv Units Inclusionary Units constructed within the City of Pleasanton <br />on a site other than the site where the applicant intends to construct market rate units. <br />Ownership Units: Inclusionary Units developed as part of a residential development <br />which the Applicant intends will be sold, or which arc customarily offered for individual <br />sale. <br />Page ~ <br />I~CI1!SIUN:AKV' /(IN W(. URUIN.ANC6 CC appr Juc/Srl~ <br />Kil3/f~h ; 5(~ I'M <br />