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Attachment to the Staff Report <br />REVISED <br />MARKET SQUARE INCLUSIONARY HOUSING PLAN <br />David Langon Construction, Inc shall be referred to as “Developer”. The City of San Leandro shall be <br />referred to as “City”. The Market Square Mixed-Use Building shall be referred to as “Market <br />Square”. <br />1.Market Square is located East of Hwy 880 on the corner Parrott Street and Washington <br />Avenue (APNs 75-5-12, 75-5-11-1) located within the City. Market Square will consist of <br />26 residential units with ground floor commercial and parking. The units will vary in <br />square footage (930 to 1350 sq. ft). According to Ordinance 6-3006, the City requires a <br />26-unit project to include three moderate income affordable units and one low income <br />affordable unit available for sale; or two low income affordable units and two very low- <br />income affordable units available for rent. <br />2.The Developer has designated the affordable units as 304, 404, 305 and 405. Floor plans <br />of the affordable units within the building has been included as Exhibit “A”. <br />3.Developer has yet to determine whether Market Square will be a for sale development <br />or rental project. Following are the two options. <br />Option 1: Developer has designated four housing units in Market Square (i.e. units 304, <br />404, 305 & 405) to be marketed and made available for sale as follows: <br />Units 304, 404, & 405 to be marketed and made available for sale to Moderate <br />Income Households. <br />Units 305 to be marketed and made available for sale to Low Income Households. <br />The low-income housing units will be made available to families whose gross income <br />does not exceed 80% of the Area Median Income. The moderate-income housing <br />units will be made available to families whose gross incomes do not exceed 120% of <br />the Area Median Income. Household size will be for a family of 3-4. <br />Option 2: Developer has designated four housing units in Market Square (i.e. units 304, <br />404, 305 & 405) to be made available for rent as follows: <br />Units 304 & 404 will be made available for rent to Low Income Households. <br />Units 305 & 405 will be made available for rent to Very Low-Income Households. <br />The low-income housing units will be made available to families whose gross income <br />does not exceed 60% of the Area Median Income. The rent will be calculated as <br />1/12 of 30% of 60% area median income. The very low-income housing units will be <br />made available to families whose gross income does not exceed 50% of the area <br />median income. The rent will be calculated as 1/12 of 30% of 50% area median <br />income. <br />37