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15101 Washington Affordable Housing Regulatory Agreement 07192022
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15101 Washington Affordable Housing Regulatory Agreement 07192022
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/19/2022
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2.2.3 Extremely Low Income Unit Rent. Subject to the provisions of Section <br />2.3 below, the Rent charged to Tenants of the Extremely Low Income <br />Units shall not exceed one -twelfth (1/12th) of thirty percent (30%) of <br />thirty percent (30%) of Area Median Income, adjusted for Assumed <br />Household Size. <br />2.3 Increased Income of Occupy�ing Households. <br />2.3.1 Increased Income Above Very -Low Income. If upon recertification of a <br />tenant's income, the Developer determines that tenant's adjusted income <br />has increased higher than Extremely Low Household Income, Very Low <br />Income Household, or. Low Income Household, as applicable, Developer <br />may raise the Qualifying Rent accordingly after providing tenant with <br />sixty (60) days advance written notice of such increase; if the Developer <br />has raised such rent then the Developer shall rent the next available unit of <br />equivalent size to a Very Low Income Household, Low Income <br />Household or Moderate Income Household, to meet the requirements of <br />Exhibit B. <br />2.3.2 Non -Qualifying Household. If, upon recertification of a Tenant's income, <br />the Owner determines that a Tenant has an Adjusted Income exceeding the <br />qualifying income for Low Income Household, adjusted for Actual <br />Household Size, such Tenant shall be permitted to continue to occupy the <br />Unit at a Rent not exceeding one -twelfth of thirty percent (30%) of the <br />Tenant's actual household income. <br />2.3.3 Continued Compliance. In the event an occupant household's income <br />increases and the rent is increased as set forth in Sections 2.3.1 and 2.3.2 <br />above, the Restricted Unit shall continue to be classified as a Extremely <br />Low Income Unit, Very Low Income Unit or a Low Income Unit, as <br />applicable, until such time as the Unit is either vacated by the occupant or <br />another Unit is rented at the applicable income limit. <br />2.4 Preferences. In renting Restricted Units, Owner shall give first preference to <br />Eligible Households who have been displaced as a result of the City's public <br />projects or the City's code enforcement activities within one year prior to the date <br />of application. Should the City refer such a tenant household to Owner, Owner <br />shall rent the next available Assisted Unit to the tenant household irrespective of <br />waiting lists if the household is otherwise eligible for occupancy in the Assisted <br />Unit. The Owner shall give second preference to Eligible Households in which at <br />least one member lives or works in the City of San Leandro, and second <br />preference to Eligible Households in which at least one member lives or works in <br />the Alameda County, unless compliance with the foregoing criteria is prohibited <br />by law or by state or federal sources of financing for the Project, in which case <br />Owner shall notify City of this fact in writing. <br />
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