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ATTY/RESO.0114/CC RESO APPROVING MODIFICATION TO ELCO YARD PROJECT – EXHIBIT A <br />REV: 11-19-25 VR <br />Page 3 of 5 <br /> <br />residential units. These residential units have been approved for us as a multiple <br />unit dwelling only. Lodging is prohibited. <br /> <br />30. Agreements <br /> <br />d. Affordable Housing Agreement for Parcel A with the City <br />restricting the rental of thirty-six (36) units, comprised of <br /> <br />i. T hirteen (13) studio units, seven (7) one-bedroom units, four (4) <br />two-bedroom units, and one (1) three-bedroom units to moderate <br />income households (as defined in Health & Safety Code Section <br />50093) which shall in no event exceed 120 percent of area median <br />income, adjusted for family size at an “affordable rent” including a <br />reasonable utility allowance (as defined in Health & Safety Code <br />Section 50053); and <br /> <br />ii.Six (6) studio units, three (3) one-bedroom units, and two (2) two- <br />bedroom units to very low income households (as defined in Health <br />& Safety Code Section 50105) which shall in no event exceed 50 <br />percent of area median income, adjusted for family size at an <br />“affordable rent” including a reasonable utility allowance (as <br />defined in Health & Safety Code Section 50053). <br /> <br />The Affordable Housing Agreement term shall be for a period of 55 <br />years from the date of final certificate of occupancy. The <br />affordable housing agreement shall specify the number, type, <br />location, size, and phasing of all affordable units, provisions for <br />marketing, income certification and screening of potential renters <br />of units including the financing of ongoing administrative and <br />monitoring costs, consistent with the approved affordable housing <br />plan. The affordable housing agreement shall specify the delivery of <br />these units relative to the commercial development and to the <br />market rate units, consistent with condition #4 (Affordable <br />Housing). <br /> <br />e. Affordable Housing Agreement for Parcel D with the City <br />restricting the rental of forty-five (45) units, comprised of <br /> <br />i. Twelve (12) studio units, six (6) one-bedroom units, four (4) two- <br />bedroom units, and two (2) three-bedroom units to moderate income <br />households (as defined in Health & Safety Code Section 50093) <br />which shall in no event exceed 120 percent of area median income, <br />adjusted for family size at an “affordable rent” including a reasonable <br />utility allowance (as defined in Health & Safety Code Section 50053); <br /> <br />ii. Ten (10) studio units, eight (8) one-bedroom units, two (2) two-