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Res20 15908
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Res20 15908
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Last modified
11/19/2020 3:25:24 PM
Creation date
11/19/2020 3:24:40 PM
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CC Index
CC Index - Document Type
Resolution
Meeting Type
Special
Agency Type
City Council
Date
11/16/2020
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The Affordable Housing Agreement term shall be for a period of 55 years from the date <br />of final certificate of occupancy. The affordable housing agreement shall specify the <br />number, type, location, size, and phasing of all affordable units, provisions for marketing, <br />income certification and screening of potential renters of units including the financing of <br />ongoing administrative and monitoring costs, consistent with the approved affordable <br />housing plan. The affordable housing agreement shall specify the delivery of these units <br />relative to the commercial development and to the market rate units, consistent with <br />condition #4 (Affordable Housing). <br />f. Affordable Housing Agreement for Parcel F with the City restricting the rental of thirty- <br />eight (38) units, comprised of <br />Eight (8) one -bedroom units to low income households (as defined in Health & <br />Safety Code Section 50079.5) which shall in no event exceed 80 percent of area <br />median income, adjusted for family size at an "affordable rent" including a <br />reasonable utility allowance (as defined in Health & Safety Code Section 50053); <br />and <br />ii. Fifteen (15) studio units to very low income households (as defined in Health & <br />Safety Code Section 50105) which shall in no event exceed 50 percent of area <br />median income, adjusted for family size at an "affordable rent" including a <br />reasonable utility allowance (as defined in Health & Safety Code Section 50053); <br />and <br />iii. Fifteen (15) studio units to extremely low income households (as defined in <br />Health & Safety Code Section 50106) which shall in no event exceed 30 percent <br />of area median income, adjusted for family size at an "affordable rent" including <br />a reasonable utility allowance (as defined in Health & Safety Code Section 50053). <br />The affordable housing agreement term shall be for a period of 55 years from the date of <br />final certificate of occupancy. The affordable housing agreement shall specify the <br />number, type, location, size, and phasing of all affordable units, provisions for marketing, <br />income certification and screening of potential renters of units including the financing of <br />ongoing administrative and monitoring costs, consistent with the approved affordable <br />housing plan. <br />Twenty-two (22) of the affordable units located on Parcel F shall serve as the replacement <br />units required by the demolition of the existing residential units located at 1306 Main <br />Street, including any replacement unit obligations pursuant to federal and state law. The <br />affordable housing agreement for Parcel F shall stipulate the replacement unit <br />obligations. <br />The remaining sixteen (16) affordable units located on Parcel F shall also serve as fulfilling <br />a portion of the affordable housing requirement for the commercial development on <br />Parcels B, C, and E. The affordable housing agreement shall specify the delivery of these <br />units relative to the commercial development and to the market rate units, consistent <br />with condition #4 (Affordable Housing). As proposed by the applicant, up to sixteen (16) <br />units may be reserved for those with developmental disabilities. The affordable units <br />located at Parcel F shall be constructed at a quality commensurate with a Tax Credit <br />ATTY/RESO.0125/PC RESO SOUTH MAIN MIXED USE PROJECT—ENTITLEMENT RESO. NO. 15908 <br />REV: 11-03-2020 PR MUFF NO. 601 <br />Page 21 of 38 <br />
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