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P23-0480 & Tract 8680, 3300 Busch Road Planning Commission 25 of 29 As permitted in PMC Section 17.44.080(D), the applicant is proposing an alternative method of compliance to the IZO. In lieu of providing single-family affordable units in the project, the applicant is proposing a multi-family residential project consisting of 101 deed-restricted affordable units and one unrestricted staff unit for a total of the 102 multi-family rental units to be available to households with incomes at or below 80 percent (low-income) of the Area Median Income (AMI). The total of 101 affordable units exceeds the applicable IZO requirement of 62 IZO units, as previously described. All of the proposed 101 affordable units would be provided within Village 4, in a complex of four 3-story buildings with a community building and outdoor amenities. To satisfy the requirements of the IZO and the related requirements of the ODS, as well as those under the SDBL, the City and applicant desire to enter into an agreement to further memorialize the applicant’s commitment to construct the affordable units, p ursuant to the terms and conditions of the Project Approvals and in accordance with SDBL and the IZO. Some of the key terms in the proposed Affordable Housing Agreement (AHA) are listed below: ▪ The 102-unit multi-family project shall have the following bedroom mix: 1-Bed 2-Bed 3-Bed Totals # of Units 45 26 31 102 ▪ The affordability restrictions, as specified in the Pleasanton January 2023 Objective Design Standards (ODS) for Housing Site, shall be as follows. i. A minimum of 25 percent of the Affordable Units shall have rents set at no more than 30% - 50% of AMI (as defined below) for households with incomes up to 50% of AMI (Very Low-Income Units). ii. A minimum of 25 percent of Affordable Units shall have rents set at no more than 30% of 60% of AMI for households with incomes of 51% to 60% of AMI (Low-Income Units). iii. A maximum of 50 percent of Affordable Units shall have rents set at no more than 30% of 80% of AMI for households with incomes of 61% to 80% of AMI (also Low-Income Units). ▪ Applicant may request to revise the affordability restrictions, subject to City Council approval. ▪ Affordable Unit rents shall be based on the following household sizes and shall need exceed one-twelfth of 30% of the applicable Area Median Income (AMI) adjusted for the household sizes listed below: Unit Type Household Size 1-Bedroom Unit One and a half (1.5) person household 2-Bedroom Unit Three (3) person household 3-Bedroom Unit Four and a half (4.5) person household