Laserfiche WebLink
<br />~ <br /> <br />annual income figures provided by the U.S. Department of Housing and Urban <br />Development (HUD), as adjusted for household size. <br /> <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 /> <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 ffiJD, as adjusted for household size. <br /> <br />HUD: The United States Department of Housing and Urban Development or its <br />successor. <br /> <br />Inclusionarv 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 /> <br />Inclusionarv 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 /> <br />Income: The gross annual household income as defined by HUD. <br /> <br />Life of the Inclusionarv 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 Pleasant on performs final inspection for the building permit. <br /> <br />Lower Income Housinl!: 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 /> <br />Median Income for Alameda Countv: The median gross annual income in Alameda <br />County as determined by ffiJD, adjusted for household size. <br /> <br />Off-Site Inclusionarv Units: Inclusionary Units constructed within the City of Pleasant on <br />on a site other than the site where the applicant intends to construct market rate units. <br /> <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 /> <br />Page 3 <br /> <br />InclusZoningOrd CC apprlSFE <br />10114/03 5:23 PM <br />