Laserfiche WebLink
� i <br /> ` . I <br /> I <br /> Article III I <br /> • Number and Location of Affordable Units � <br /> � <br /> Section 3.01. Number of Affordable Units and Bedrooms. <br /> OWNER, as a condition to the satisfaction of OWNER's affordable. housing <br /> obligations as set forth in the Project Approvals, and in accordance with the AHP, <br /> OWNER shall construct, or cause to be constructed, seventeen (17) Affordable Units, <br /> comprised of five (5) one-bedroom units, nine (9) two-bedroom units, and three (3) three- � <br /> bedroom units, and totaling 32 bedrooms, in the unit mix more particularly set forth in the <br /> OWNER's AHP attached hereto as Exhibit "B " <br /> Section 3.02. Location of Affordable Units. <br /> The Affordable Units shall be the type of units shown in the AHP attached hereto <br /> as Exhibit "B" and shall be constructed on the Property in the locations(s) shown or � <br /> described in the AHP attached hereto as Exhibit "B," and the types of units and their I <br /> respective locations shail not be changed without the approval of the City. � <br /> Section 3.03. Quality. Size and Amenities of Affordable Units. � <br /> The Affordable Units shall be comparable in quality, size and amenities (at the <br /> same cost as otherwise available for other tenants) to those units which wiil be available <br /> 4o tenants of the units not designated as Affordable Units ("Market Rate Units"), subject to <br /> variations in interior finishes which shall be reviewed and approved by the City prior to the <br /> issuance of any Certificates of Occupancy. Tenants in the Affordable Units shall have • <br /> equal access and enjoyment to all common facilities of the Project. <br /> Article IV ' <br /> Rental AffordabiliN Covenants <br /> Section 4.01. Rental AffordabiliN Covenants. <br /> During the Rental Affordability Covenants Term, OWNER covenants and agrees <br /> that the Affordable Units shall be maintained in accordance with this Article as follows I <br /> (the "Rental Affordability Covenants"): the Affordable Units shall be made available to � <br /> "persons and families of low income" or to "persons and families of moderate income," as � <br /> those terms are defined by California Health and Safety Code section 50093, whose � <br /> incomes do not exceed one hundred and twenty percent (120%) of HUD's Area Median i <br /> Income for San Mateo County ("AMI"), as adjusted from time to time (°Qualified <br /> Lessees"). For "persons and families of low income," the Affordable Units shall be made <br /> available at "affordable rent" as defined in California Health and Safety Code section <br /> 50053(b)(3). For "persons and families of moderate income," the Affordable Units shall <br /> be made available at "affordable renY' as defined in California Health and Safety Code ; <br /> section 50053(b)(4), I <br /> i <br /> Annually, on the anniversary date of occupancy of an Affordable Unit by a � <br /> Qualified Lessee, OWNER shall re-certify the qualifications of the Qualified Lessee in I <br /> accordance with the requirements of this Articie. If, upon recertification, OWNER , <br /> determines that the Qualified Lessee's Gross Income, as that term is defined in section ! <br /> 6 ( <br /> I <br /> �� <br />