75D - MERGER S.A. REDEVELOPMENT - Laserfiche WebLink

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FIve-Year Implementation Plan Amended February 2003 Page 40 Production Outside Project Areas to date (detailed in Exhibit 7) and during the next five years (detailed in Exhibit 8) based on Section 33413(b)(2)(A)(ii) (2 for 1 Calculation): Very-Low Income Low Income Moderate Income. TOTAL: 1976-2002 132 155 0 287 2003-2009 2 3 0 5 1976-2009 135 158 0 292 Summary of Production to date and during the next five years: 1976-2002 Very-Low Income Low Income Inclusionary Obligation 53 79 Production Units 235 605 Production Exceeded Obligation 182 526 Total 132 605 708 2003-2009 Very-Low Income 44 103 182 241 Total 101 111 708 718 Inclusionary Obligation Production Units (2003-2009) Excess Units from 1976-2002 Production Exceeded Obligation Low Income 57 8 526 477 iii. Terms of Affordability Health and Safety Code Section 33413 (c) requires that replacement and inclusionary units shall remain available at affordable housing cost to the income levels indicated for the longest feasible time, but not less than the period of land-use controls of the redevelopment plan. Health and Safety Code Section 33334.3 (f)(l)(A) and (B) states that when housing units are developed or assisted with money from the Agency's 20 percent affordable housing set-aside fund, the Agency shaH require that those housing units shall remain affordable for the longest feasible time, but for not less than 15 years for rental units or 10 years for owner-occupied units. Effective January 1, 2002, Health and Safety Code Section 33413(c) requires that dwelling units rehabilitated, developed, q>nstructed or price restricted remain available at affordable housing cost to the income levels indicated for the longest feasible time, but not less than 55 years for rental units and 45 years for homeownership units. Page 109 of 190 75D-119