Laserfiche WebLink
DRAFT <br />B. The monthly rent for each Affordable unit shall not exceed one-twelfth of 50 % of <br />the Area Median Income multiplied by 30%. <br />C. If HUD fails to issue revised median household income statistics for the Oakland <br />Primary Metropolitan Statistical Area within 15 months of the previous revision, <br />rents for units referred to in this Section 1 may be adjusted based on the annual <br />percentage increase in the San Francisco-Oakland Consumer Price Index for <br />urban wage earners and clerical workers. <br />D. The rents described herein shall exclude utilities in the broadest sense, including, <br />but not limited to gas, electricity, water, garbage, television cable, telephone, and <br />internet service; provided, however, that if any or all of such utilities are offered <br />at no cost to market rate units they shall also be offered at no cost to the <br />Affordable units. <br />E. The Affordable units shall be located randomly throughout the Project as <br />reasonably determined by City and the Developer so as not to cluster such units. <br />The units described in this section shall not be fixed in the Project and may <br />change depending on vacancies. <br />F. The Affordable units shall have the same interior standards of quality (e.g., <br />appliances, interior features/amenities, services, etc.) as the market rate units. <br />G. The unit mix for the Affordable units shall be as follows: <br />AFFORDABLE UNIT MIX <br />Unit Type Vety Low Income (50% AMn <br />1 Bedroom 45 <br />2 Bedroom 24 <br />3 Bedroom 1 <br />Total 70 <br />H. All Affordable units shall be rented in accordance with the City's Preference <br />System, as may be amended, with the most current version set forth in <br />Attachment 2. <br />Once each year, the Developer (or the Developer's successor in interest) shall <br />provide the City a report detailing the project budget showing project <br />expenditures and revenues, the average annual income of tenants occupying the <br />Affordable units, the number of one, two and three person households occupying <br />the Affordable units, the number of vacancies and new rentals during the year for <br />W indstar Mar 2008 HC Item Sc W indstar Att 1 AHA.3.20.08. All Very Low. Revised. WO Markings.doc. Amended on 3.20.08 <br />Page 2 of 4 <br />