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annual income figures provided by the U.S. Department of Housing and Urban <br /> Development(HUD), as adjusted for household size. <br /> Household, Moderate Income: A household whose annual income is more than 80% but <br /> does not exceed 120% of the annual median income for Alameda County, based upon the <br /> annual income figures provided by HUD, as adjusted for household size. <br /> Household, Very Low Income: A household whose annual income does not exceed 50% <br /> of the annual median income for Alameda County, based upon the annual income figures <br /> provided by HUD, as adjusted for household size. <br /> HUD: The United States Department of Housing and Urban Development or its <br /> successor. <br /> Inclusionary Unit: A Dwelling Unit as required by this Chapter which is rented or sold at <br /> Affordable Rents and/or Affordable Sales Prices (as defined by this Chapter) to Very <br /> Low, Low, or Moderate Income Households. <br /> Inclusionary Unit Credits: Credits approved by the City Council in the event a project <br /> exceeds the total number of Inclusionary Units required in this Chapter. Inclusionary <br /> Unit Credits may be used by the Project Owner to meet the affordable housing <br /> requirements of another project subject to approval by the City Council. <br /> Income: The gross annual household income as defined by HUD. <br /> Life of the Inclusionary Unit: The term during which the affordability provisions for <br /> Inclusionary Units shall remain applicable. The affordability provisions for inclusionary <br /> units shall apply in perpetuity from the date of occupancy, which shall be the date on <br /> which the City of Pleasanton performs final inspection for the building permit. <br /> Lower Income Housing Fee: A fee paid to the City by an applicant for a project in the <br /> City, in lieu of providing the Inclusionary Units required by this Chapter. <br /> Median Income for Alameda County: The median gross annual income in Alameda <br /> County as determined by HUD, adjusted for household size. <br /> Off-Site Inclusionary Units: Inclusionary Units constructed within the City of Pleasanton <br /> on a site other than the site where the applicant intends to construct market rate units. <br /> Ownership Units: Inclusionary Units developed as part of a residential development <br /> which the Applicant intends will be sold, or which are customarily offered for individual <br /> sale. <br /> Page 3 <br /> INCLUSIONARY ZONING ORDINANCE CC appr.doc/SFE <br /> 8/1 8/06 3:56 PM <br />