Laserfiche WebLink
• <br /> Legal Description of Property: <br /> See Exhibit A (Attached hereto) <br /> Street Address of Property: 3272 Rolison Road, Redwood City, Califomia. <br /> Assessor's Parcel Number of Property: 055- 031 -240 <br /> Summary of Affordable Housing Restrictions (check as applicable): <br /> 21The Affordable Housing Restrictions restrict the amount of rent which may <br /> be charged for the rental housing unit or units on the Property, as follows: <br /> The Property is currently improved with seven (7) multi- family residential <br /> units. T hree ( 3) u nits s hall be av ailable t o and o ccupied by E ligible <br /> Households whose income does not exceed fifty percent (50 %) of area <br /> median income, at an affordable rent that does not exceed 30% of 50% of <br /> area median income, adiusted by family size appropriate to the unit, less a <br /> reasonable utility allowance. The remaining units shall be available to and <br /> occupied by Eligible Households whose income does not exceed eighty <br /> percent (80 %) of area median income, at an affordable rent that does not <br /> exceed 30% of 80% of the area median income, adiusted by family size <br /> appropriate to the unit, less a reasonable utility allowance. <br /> "Area median income" shall mean the median income for households in <br /> San Mateo County, California, as published from time to time by the <br /> United Stated Department of Housing and Urban Development ( "HUD ") in <br /> a manner consistent with the determination of median gross income under <br /> Section 8 of the United States Housing Act of 1937, as amended, and as <br /> defined in Title 25, California Code of Regulations, Section 6932. . <br /> 71 The Affordable Housing Restrictions restrict the income level of the tenant <br /> or buyer of the Property, as follows: <br /> Three of the units on the Property shall be available to and occupied by <br /> Eligible Households whose income does not exceed fifty percent (50 %) of <br /> area median income, at an affordable rent that does not exceed 30% of <br /> 50% of the area median income, adiusted by family size appropriate to the <br /> unit, less a reasonable utility allowance. Four of the units on the Property <br /> shall be available to and occupied by Eligible Households whose income <br /> does not exceed eighty percent (80 %) of area median income, at an <br /> Notice of Affordability Restrictions <br /> 1213420v1 33766/0001 2 <br /> 82483.00000\5570533.3 <br /> ATTY /AGR12010.120 EXHIBIT D <br /> 103010 <br />