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File Number: 22-049 Arizona, Colorado, Oregon, and Texas. To date, Integrity Housing’s current portfolio consists of 34 properties, totaling 2,824 units with an additional 935 units either under contract or in development. The benefit to the City will be that the Borrower will be able to acquire Metro 77 & 85 Apartments and convert 75% , or 110 units, of the total 146 units to affordable rental housing: 30 units will be set-aside for very low income renters (at or below 50% area median income) and 80 units will be targeted to low income renters (at or below 80% area median income). The remaining 36 units will remain market rate. As required by the revenue bond, the affordable units must remain affordable for 30 years. In addition, the City may count the 110 units being converted to long -term affordable rental units towards its current 2015-2023 Regional Housing Needs Goals for very low and low income housing unit production. Below is a breakout by unit type and income level for the proposed Project: 50% AMI 80% AMI Market Units 20%55%25% Studio 6 1 3 2 1x1 88 18 48 22 2x1 23 5 13 5 2x2 27 5 15 7 3x2 2 1 1 0 Total Units 146 30 80 36 The proposed rehabilitation work by the Borrower includes: roof replacement, elevator cab and mechanical, identifying and resolving any potential Americans with Disabilities Act (ADA) issues, structural reinforcement, and all deferred maintenance. Additionally, interior unit renovations include new floors, appliances, cabinets, lighting fixtures, installing washer/dryers, plumbing fixtures, doors, bathrooms, etc. The Borrower anticipates that all existing residents will income qualify under the new affordability levels. Resident’s specific income levels will be determined upon lease renewals. Residents whose income qualify them under the 50% AMI limit will have their rent reduced to the applicable 50% AMI rent level. If a resident’s income is above the 80% AMI level, the market rate portion of the property allows them to remain in place in an unrestricted unit. It is expected that there will no resident displacement due to the diversity of income set asides. If the City had declined to hold the TEFRA public hearing, the Borrower would have asked Alameda County to conduct the public hearing. Applicable General Plan Policies Page 3 City of San Leandro Printed on 2/3/2022