EXHIBIT “L”
Income Restrictions
|
Unit Type |
Income Req’ts (TCAC) |
Statute |
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Affordable Live/Work |
4 units at 30% AMI |
Title 25, Section 6932 |
|
|
6 units at 60% AMI |
26 USC Section 142 (d) (2) (B) |
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|
10 total Live/Work |
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Affordable Dwelling Units One’s |
10 units at 30% AMI |
Title 25, Section 6932 |
|
|
9 units at 50% AMI |
Title 25, Section 6932 |
|
|
9 units at 60% AMI |
26 USC Section 142 (d) (2) (B) |
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|
28 total one’s |
|
|
|
|
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Two’s |
20 units at 30% AMI |
Title 25, Section 6932 |
|
|
17 units at 50% AMI |
Title 25, Section 6932 |
|
|
17 units at 60% AMI |
26 USC Section 142 (d) (2) (B) |
|
|
54 total two’s |
|
|
|
|
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|
Three’s |
24 units at 30% AMI |
Title 25, Section 6932 |
|
|
21 units at 50% AMI |
Title 25, Section 6932 |
|
|
21 units at 60% AMI |
26 USC Section 142 (d) (2) (B) |
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|
66 total three’s 158 total units restricted (plus two manager’s units) |
|
Rent Restrictions
|
Unit Type |
Rent Requirements – Section 50053 Calculation Methodology |
|
|
|
|
Affordable Live/Work |
4 units at RDA Very Low[1] |
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|
6 units at RDA Moderate[2] |
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|
Affordable Dwelling Units One’s |
10 units at RDA Very Low |
|
|
18 units at RDA Moderate |
|
Two’s |
20 units at RDA Very Low |
|
|
34 units at RDA Moderate |
|
Three’s |
24 units at RDA Very Low |
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|
42 units at RDA Moderate |