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greater number of affordable units off-site, it may (but not always) be in the best <br />interest of the City to permit the development of affordable units at a different <br />location than that of the principal project. <br />H. Federal and state funds for the construction of new affordable housing are <br />insufficient to fully address the problem of affordable housing within the City. Nor has <br />the private housing market provided adequate housing opportunities affordable to <br />moderate-, low- and very low-income Households. <br />6-3004 Definitions. <br />As used in this Article, the following terms shall have the following meanings: <br />A. Affordable Rent means monthly rent that does not exceed one-twelfth of 30 <br />percent of the maximum annual income for a Household of the applicable income <br />level (moderate-, low-0r very low-income). <br />B. Affordable Ownership Cost means a sales price that results in a monthly <br />housing cost (including mortgage payment, interest, property taxes, insurance, <br />utilities, maintenance and home association costs, if any) that does not exceed <br />one-twelfth of 35 percent of the ma~amum annual income for a Household of the <br />applicable income (moderate or low income). <br />C. Approval Authority means a person or body that is authorized to <br />approve the Housing Development as specified in the San Leandro <br />Zoning Code. <br />D. Area Median Income means the median family income of a geographic <br />area of the state, as annually estimated by the United States Department <br />of Housing and Urban Development pursuant to Section 8 of the Housing <br />Act of 1937. <br />E. City means the City of San Leandro. <br />F. Community Development Director means the Community Development <br />Director of the City or his or her designee. <br />G. Construction Cost Index means the Engineering News-Record San Francisco <br />Building Cost Index If that index ceases to exist, the Community Development <br />Director will substitute another Construction Cost Index, which, in his or her <br />judgment, is as nearly equivalent to the original index as possible. <br />H. Developer means any person, firm, partnership, association, joint venture, <br />corporation, or any entity or combination of entities, which seeks City approvals <br />for all or part of a residential or commercial development. <br />ORDINANCE NO. 2004-023 5 <br />