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Safety Code and California Code of Regulations Title 25, or thirty percent (30%) of the imputed <br />income limitation applicable to such unit pursuant to Section 42(g)(2)(C) of the Internal Revenue <br />Code (as determined by CTCAC) for the appropriate Household Income level. As allowed under <br />Government Code Section 65915(c)(1)(B)(ii), the Rent for at least twenty percent (20%) of the <br />Affordable Units shall be set at Rents not exceeding the rents specified by Section 50053 of the <br />California Health and Safety Code for the appropriate Household Income level and the Rent for <br />the remaining Affordable Units shall be set at an amount consistent with the maximum rent <br />levels for the appropriate Household Income levels as determined by the CTCAC. <br />(e) "Affordable Site" has the meaning set forth in Recital D. <br />(f) "Affordable Units" has the meaning set forth in Recital C above, provided that <br />any reference herein to "Affordable Units" in connection with any affordability restrictions shall <br />be deemed to exclude the manager's unit. <br />(g) "Area Median Income" or "AMI" means the median gross yearly income <br />adjusted for Actual Household Size (to qualify residents) or Assumed Household Size (to <br />calculate rents), as applicable, in San Mateo County, either as applicable (i) as published from <br />time to time by the State of California Department of Housing and Community Development; or <br />(ii) as determined by the Secretary of the Treasury of the United States for purposes of Section <br />42 of the Internal Revenue Code. In the event that such income determinations are no longer <br />published, or are not updated for a period of at least eighteen (18) months, the City shall provide <br />the Owner with other income determinations which are reasonably similar with respect to <br />methods of calculation to those previously published by the State. <br />(h) "Article 34" has the meaning set forth in Recital F above. <br />(i) "Bay Road Site" has the meaning set forth in Recital C above. <br />0) "Broadway Site" has the meaning set forth in Recital C above. <br />(k) `Building One" has the meaning set forth in Recital E above, and is expected <br />to contain approximately two hundred fourteen (214) Market Rate Units. <br />(1) "Building Two" has the meaning set forth in Recital E above, and is expected <br />to contain approximately one hundred eighty-four (184) Market Rate Units. <br />(m)`Building Three" has the meaning set forth in Recital E above, and is <br />expected to contain one hundred nineteen (119) Affordable Units and one (1) unrestricted <br />manager's unit. <br />(n) "Conditions of Approval" means the conditions of approval and standard <br />development requirements that apply to this Project, as provided in Exhibit E. <br />(o) "CTCAC" means the California Tax Credit Allocation Committee. <br />(p) "Extremely Low -Income Household" means a household with an annual <br />Household Income no greater than the maximum income for extremely low income households, <br />1199\10\3609857.1 4 <br />REV: 10-18-23 SK <br />