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Attorney, restricting the rental of five (5) units, comprised of four (4) one- bedroom units and one (1) two-bedroom units, to "persons and families of median income" (as defined in Health & Safety Code Section 50093) at an affordable rent (including a reasonable utility allowance), which shall in no event exceed 30 percent of area median income, adjusted for family size appropriate for the unit, for a period of 45 years from the date of occupancy. In addition, the affordable housing covenant shall provide for replacing the five (5) affordable rental units with five (5) affordable for sale condominium units, in the event that the project converts to a for sale condominium project. The affordable for sale units shall be made available for occupancy by median income households, whose income does not exceed the qualifying limits set "for persons and families of median income" in Section 50093 of the California Health and Safety Code at an affordable housing cost, which shall in no event exceed 30 percent of area median income, adjusted for family size appropriate for the unit, for the remainder of the original 45-year term. The affordable housing covenant shall be recorded prior to the issuance of any building permit for the Project. 6. In denying the appeals and approving Vesting Tentative Map TM2010-04, the City Council a�rms and adopts the findings and conditions of approval adopted by the Planning Commission in Resolution No. 11-09 (A Resolution of the Planning Commission of the City of Redwood City Approving a Vesting Tentative Map pursuant to the Subdivision Map Action and the Redwood City Municipal Code), and adopts the following additional condition of approval to reflect the new affordable housing requirement as follows: The applicant shall execute and deliver to the City a recordable affordable housing covenant and deed restriction, in a form satisfactory to the City Attorney, restricting the rental of five (5) units, comprised of four (4) one- bedroom units and one (1) two-bedroom units, to "persons and families of median income" (as defined in Health & Safety Code Section 50093) at an affordable rent (including a reasonable utility allowance), which shall in no event exceed 30 percent of area median income, adjusted for family size appropriate for the unit, for a period of 45 years from the date of occupancy. In addition, the affordable housing covenant shall provide for replacing the five (5) affordable rental units with five (5) affordable for sale condominium units, in the event that the project converts to a for sale condominium project. The affordable for sale units shall be made available for occupancy by median income households, whose income does not exceed the qualifying limits set "for persons and families of median income" in Section 50093 of the California Health and Safety Code at an affordable housing cost, which shall in no event exceed 30 percent of area median income, adjusted for family size appropriate for ATTY/RES0.2201/ATTACH. 1 DENY APPEALS FOR 2580 EL CAMINO REAL RESO. # 15169 REV:02/13/12 MUFF # 603 Page 4 of 5