2001 APRIL - Laserfiche WebLink

17.44.030 able sales prices (as defined by this chap- ter) to very low, low, or moderate income households. "Inclusionary unit credits": Credits approved by the city council in the event a project exceeds the total number of inclusionary units required in this chapter. Inclusionary unit credits may be used by the project owner to meet the affordable housing requirements of another project subject to approval by the city council. "Income": The gross annual household income as defined by HUD. "Life of the inclusionazy unit": The term during which the affordability provi- sions for inclusionary units shall remain applicable. The affordability provisions for inclusionary units shall apply in per- petuity from the date of occupancy, which shall be the date the city of Pleasanton performs final inspection for the building permit. "Lower income housing fee": A fee paid to the city by an applicant for a project in the city, in lieu of providing the inclusionary units required by this chap- ter. "Median income for Alameda County": The median gross annual income in Alameda County as determined by HUD, adjusted for household size. "Off-site inclusionary units": Inclu- sionary units constructed within the city of Pleasanton on a site other than the site where the applicant intends to construct mazket rate units. "Ownership units": Inclusionary units developed as part of a residential develop- ment which the applicant intends will be sold, or which are customarily offered for individual sale. "Project": A residential housing devel- opment at one location or site including all dwelling units for which permits have been applied for or approved. "Project owner": Any person, firm, partnership, association, joint venture, corporation, or any entity or combination of entities which holds fee title to the land on which the project is located. "Property owner": The owner of an inclusionary unit, excepting a "Project Owner". "Recapture mechanisms": Legal pro- grams and restrictions by which subsidies provided to inclusionary units will be controlled and repaid to the city and/or other entity upon resale, to ensure the ongoing preservation of affordability of inclusionary units or to ensure funds for inclusionazy units remain within the city's affordable housing program. "Rental units": Inclusionary units which the applicant intends will be rented or leased, or which are customarily of- fered for lease or rent. "Resale restrictions": Legal restrictions which restrict the price of inclusionary units to ensure that they remain affordable to very low, low, and moderate income households on resale. "Residential project, multiple-family": A residential project consisting of condo- miniums, apartments, and similaz dwell- ings attached in groups of four (4) or more units per structure and including multiple units located on a single pazcel of land under common ownership. "Residential project, single-family": A residential project consisting of detached and attached single-family homes, includ- ing paired single-family, duets, duplexes, 469 (Pleasanton April 2001)