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Page 7 of 42 <br />of Housing and Urban Development (HUD) income limits for San Mateo County or the California <br />Department of Housing and Community Development (HCD) income limits for San Mateo <br />County, as applicable. <br />(cc) “Very Low-Income Rent” means the Affordable Rent permitted to be <br />charged for a Very Low-Income Unit shall not exceed one-twelfth (1/12th) of thirty percent (30%) <br />of fifty percent (50%) of Median Income, adjusted for Assumed Household Size, and as provided <br />to the Affordable Developer annually by the City or as published by CTCAC for 50% AMI <br />households, as applicable. The City shall also permit alternative criteria, when necessary, to be <br />consistent with State and Federal statutes and regulations governing publicly financed rental <br />housing. <br /> <br />(dd) “Very Low-Income Units” means Affordable Units required to be occupied <br />by Very Low-Income Households. <br /> <br />ARTICLE 2 <br />AFFORDABILITY AND OCCUPANCY COVENANTS <br />Section 2.1 Occupancy Requirements for Affordable Units. <br />(a) Reserved. <br />(b) Very Low-Income Units. Forty-Eight (48) of the Affordable Units, including <br /> (XX) studio units, (XX) one-bedroom units, <br />(XX) two-bedroom units, and (X) three-bedroom units shall be rented to <br />and occupied by or, if vacant, available for occupancy by Very Low-Income Households. <br /> <br />(c) Low-Income Units. Fifty-One (51) of the Affordable Units, including <br /> (XX) studio units, (X) one-bedroom units, <br /> (XX) two-bedroom units, and (XX) three-bedroom <br />units shall be rented to and occupied by or, if vacant, available for occupancy by Low-Income <br />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 />(e) 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 />ATTY/RESO.0024/PC RESO 901 EL CAMINO <br />REV: 04-11-25 VR