RecDoc 2016-116997 - Laserfiche WebLink

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a) The exterior appearance of the affordable residential units shalt be compatible with that of market-rate residential units. b) Interior finishes and amenities may not differ from those provided in the base model market rate residential units. 2) The number of bedrooms in the affordable residential units shall be comparable to the average number of bedrooms in the market-rate residential units, and the affordable residential units shall be reasonably dispersed within the residential development, with home locations comparable to those of the market-rate residential units. The following Table illustrates the comparable mix of bedrooms of market rate residential units as compared to the mix of bedrooms for the affordable residential units: Jr. 1 Bdrm 1 Bdrm 2 Bdrm 3 Bdrm Total Overall Project 8 37 38 7 90 Percentage Mix by Bedroom 9% 41 % 42% 8% 100% Affordable Units — 7 plus Fee 1 2 3 1 7 Percentage Mix by Bedroom 14% 29% 43% 14% 100% Building floor plans are attached as Exhibit A detailing the distribution of the affordable residential units, and illustrating the bedroom mix. 3) The affordable residential units shall have the same amenities as the market rate residential units, including the same access to and enjoyment of common open space, parking, storage, fitness, lounge, club room, roof-top deck and other facilities in the residential development, provided at a rent affordable to tenants with income levels defined as Very-low income for San Mateo County. 4) All affordable residential units shall be made available for occupancy concurrently with the market-rate residential units. "Concurrently" means that the City may not issue building permits for more than fifty percent (50%) of the market-rate residential units until it has issued building permits for all of the affordable residential units, and the City may not approve any final inspections or certificates of occupancy for more than fifty percent (50%) of the market-rate residential units until it has issued final inspections or certificates of occupancy for all of the affordable residential units. 5) All affordable residential units provided shall be subject to a resale restriction, deed of trust, and/or regulatory agreement recorded against the property for execution by the City Manager, in a form approved by the City Attorney, to ensure the continued affordability of the affordable residential units. 6) All affordable residential units shall remain affordable to the targeted income group for 30 to 55 years . 7) Any household that occupies an affordable home must occupy that home as its ATTY/AGR/2016.243/849 VETERANS AFFORDABLE HOUSING AGREEMENT — EXHIBIT B REV: 08-30-16 VR Page 2 of 14 Final_8/02/2016