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Affordable Housing Fund, CDBG, and HOME Definitions, Requirements, Rent and <br />Occupancy Restrictions - The following definitions, requirements and references <br />may be adjusted from time to time by HUD or the City, and any such adjustments <br />shall be incorporated by reference into these affordability covenants: <br />1. Definitions: The following definitions shall apply throughout these affordability <br />covenants: <br />a. "Area Median Income" means the median income applicable to San Mateo <br />County, as published annually by the City for each household size, based on median <br />income data for San Mateo County published by HUD and the California Department of <br />Housing and Community Development ("HCD"). <br />b. "Low Income Households" means households with incomes no greater than the <br />maximum income for low income households, as published annually by the City for each <br />household size, based on HUD and HCD income limits for San Mateo County. As of the <br />date of these affordability covenants, such incomes shall not exceed 80% of Area Median <br />Income. <br />c. "Very Low Income Households" means households with incomes no greater <br />than the maximum income for very low income households, as published annually by the <br />City for each household size, based on HUD and HCD income limits for San Mateo <br />County. As of the date of these affordability covenants, such incomes shall not exceed <br />50% of Area Median Income. <br />d. "Maximum Rent for Low Income Households" means a total monthly rent that <br />does not exceed any of (a) the current HUD CDBG rent limits for Low Income Households <br />adjusted for unit size; (b) the rents specified by Section 50053 of the California Health <br />and Safety Code and California Code of Regulations Title 25, Sections 6910-6924; or <br />(c) "affordable rent' as defined in Section 18.268 of the Redwood City Code. <br />e. "Maximum Rent for Very Low Income Households" means a total monthly rent <br />that does not exceed any of (a) the current HUD HOME rent limits for Very Low Income <br />Households, adjusted for unit size; (b) the rents specified by Section 50053 of the <br />California Health and Safety Code and California Code of Regulations Title 25, Sections <br />6910-6924; or (c) "affordable rent' as defined in Section 18.268 of the Redwood City <br />Code. <br />2. Maximum Allowable Rent and Utilitv Allowances: The maximum allowable rents <br />must be reduced if the tenant/s pay/s for utilities. The maximum rent includes all utilities <br />and housing -related services, except telephone. Allowances provide a mechanism for <br />reducing the maximum allowable rent when some or all utilities are paid by the tenant/s. <br />The City uses the San Mateo County Housing Authority allowance schedule to determine <br />utility allowances which vary depending on the type of unit and utilities available in the <br />unit. <br />ATTY/AGR/2017.145.1/ STAFFORD FUNDING AG REEMENT— DECLARATION OF AFFORDABILITY COVENANTS <br />REV: 06-21-17 JS <br />Page 2 of 6 <br />