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,. ~ ~ <br />Household Size <br />(Persons) Maximum <br />Annual Income <br />I $44,300 <br />2 $50,650 <br />3 $56,950 <br />4 $63,300 <br />5 $68,350 <br />6 $73,450 <br />3. There shall be three affordable units (all Plan 2; 1,270 square feet) which shall be <br />dispersed throughout the project. The affordable units shall feature fixtures and finishes <br />of a quality comparable to that of the market-rate units so that they units will blend well <br />with the neighborhood and will not deteriorate rapidly as compared to the market units. <br />4. One affordable unit will be financed by the developer. The City will provide assistance <br />to finance two additional affordable units at a cost which is equivalent to the difference <br />between the market value, as agreed upon by the City and Developer, and the <br />below-market sales prices of $200,000, up to a maximum of $75,000 per unit. <br />5. J The three affordable units will be subject to the standard provisions of the City's home <br />ownership assistance program, including resale restrictions, said provisions to be <br />enforced through deed restrictions recorded against each property.. <br />THIS AGREEMENT executed the date and year first above written. <br />CITY OF PLEASANTON <br />-.,,~ <br />~ r 'r ~_ <br />By: -~:-~ ~ -~ ~ ' ' ~' -- • ~ ~ ~ ~~ -- <br />Deborah Acosta, City Manager <br />KAUFMAN AND BROAD SOUTHBAY, INC., <br />a California Corporation <br />t> <br />' ~, <br />i <br />RAYKBAGR.SAM/SFE ;J <br />08/05/98 10:43 AM <br />Page 2 <br />