Laserfiche WebLink
ARTICLE 2 <br />AFFORDABILITY AND OCCUPANCY COVENANTS <br />Section 2.1 Occupancy Requirements for Affordable Units. <br />(a) Extremely Low -Income Units. None of the Affordable Units are required to <br />be rented to and occupied by or, if vacant, available for occupancy by Extremely Low -Income <br />Households. <br />(b) VeryLow-In come Units. Thirty -One (31) of the Affordable Units, <br />including ( ) studio units, ( ) one -bedroom units, ( ) two- <br />bedroom units, and ( ) three-bedroom units shall be rented to and occupied by or, if <br />vacant, available for occupancy by Very Low -Income Households. <br />(c) Low -Income Units. Forty (40) of the Affordable Units, including <br />O studio units, ( ) one -bedroom units, ( ) two-bedroom units, and ( ) <br />three-bedroom units shall be rented to and occupied by or, if vacant, available for occupancy by <br />Low -Income Households. <br />(d) Density Bonus Units. All of the Affordable Units described in Section 2.1 <br />above, are also considered Density Bonus Units. <br />(c) Manager's Unit. One (1) unit in the Affordable Development shall be <br />available for designation as the manager's unit and shall not be restricted as an Affordable Unit. <br />(f) Principal Residence. Any household that occupies an Affordable Unit must <br />occupy that unit as its principal residence. <br />(g) Approval of Residents. The Affordable Developer shall complete the <br />required income certification in connection with an Affordable Unit in accordance with the <br />Resident Selection Criteria. <br />(h) Senior City Restrictions. The provisions to enforce the Affordable <br />Developer's obligations under the Affordable Housing Plan and the City's Affordable Housing <br />Ordinance (the "AH Restrictions"), and provisions to enforce Affordable Developer's obligation <br />under Government Code section 65915 ("Density Bonus Restrictions"), to construct, or cause to <br />be constructed, the Affordable Development. The AH Restrictions and the Density Bonus <br />Restrictions are, collectively, the "City Senior Restrictions." The City Senior Restrictions may not <br />be subordinated to any lien or encumbrance whatsoever. <br />Section 2.2 Allowable Rent. <br />(a) Affordable Rent. Affordable Developer shall not charge rent for the <br />Affordable Units exceeding the Affordable Rent applicable to Extremely Low -Income Units, Very <br />Low Income Units, and Low Income Units set forth below, subject to Affordable Rent as <br />determined by CTCAC and in no circumstance may more than 80% or fifty-six (56) of the <br />Affordable Units be subject to Affordable Rent as determined by CTCAC. To the extent the <br />Affordable Rent allowed hereunder conflict with rents set forth in Section 50053 of the California <br />ATTY/AGR/2024.193.1— AFFORDABLE HOUSING LAND DONATION AGREEMENT — EXHIBIT G — RESTRICTIVE COVENANTS AGR <br />REV: 10-22--24 VR <br />Page 7of41 <br />