RESOLUTION NO. 23-90
Resolution Of The City Council Of The City Of Emeryville Adopting The 2023 Housing Affordability Table Pursuant To The Affordable Housing Program (Article 4 Of Chapter 5 Of The Planning Regulations)
WHEREAS, the City’s Affordable Housing Program (“AHP”) was adopted in 1990 and is now codified as Article 4 of Chapter 5 of Title 9 of the City of Emeryville Planning Regulations (the “AHP”), and
WHEREAS, prior to updates adopted in 2014, the AHP required that new residential and live-work developments of thirty or more units (rental or for-sale) have a set-aside of Below Market Rate (BMR) units; and
WHEREAS, the AHP now requires developers of new for-sale residential developments with ten or more units to set aside twenty percent of the units as affordable and restricted to moderate income households (“For-Sale Set Aside Units”); and WHEREAS, the AHP also requires developers of rental housing to pay an impact fee of $33,999 per unit or an in-lieu production requirement of eight percent of the units at the low income level and four percent at the very low income level (“Rental Set Aside Units”); and
WHEREAS, developers of For-Sale Set Aside Units and Rental Set Aside Units are required to enter into Affordability Agreements with the City of Emeryville to execute the requirements of the AHP, including the duration of the affordability covenants, the developer’s marketing requirements, the initial sales prices or rent levels as applicable, the designation of the Set Aside Units, and the required resale restriction documents; and WHEREAS, the initial sales prices or rent levels for each project subject to the AHP are determined in accordance with the definition of affordable housing cost found in state law at Section 50052.5 of the California Health and Safety Code (the “Code”); and WHEREAS, to implement the affordable housing cost requirements of the AHP and the requirements of Article 4 of Chapter 5 of the City of Emeryville Planning Regulations, including but not limited to section 9-5.403(a) requiring the City to establish affordable housing sales prices, the City has prepared the 2023 Housing Affordability Table in accordance with the requirements of Section 50052.5 of the Code; now, therefore, be it RESOLVED, that the City Council of the City of Emeryville hereby adopts the 2023 Housing Affordability Table attached hereto as Exhibit A.
DocuSign Envelope ID: 8932EE28-FABA-4FE3-AE59-E0FA5C77CCE2 Resolution No. 23-90
2023 Housing Affordability Table
City Council Meeting | July 5, 2023
ADOPTED by the City Council of the City of Emeryville at a regular meeting held Wednesday, July 5, 2023, by the following vote:
AYES: 5
Mayor Bauters, Vice Mayor Welch and Council Members Kaur, Mourra and Priforce
NOES: 0
ABSTAIN: 0
ABSENT: 0
MAYOR
ATTEST: APPROVED AS TO FORM:
CITY CLERK SPECIAL COUNSEL
DocuSign Envelope ID: 8932EE28-FABA-4FE3-AE59-E0FA5C77CCE2
MAXIMUM INCOME LIMITS
Household Size 1 person 2 person 3 person 4 person 5 person Moderate Income (120%) $124,250 $142,000 $159,750 $117,500 $191,700 Median Income (100%) $103,550 $118,300 $133,100 $147,900 $159,750 Low Income (80%) $78,550 $89,750 $100,950 $112,150 $121,150 Very Low Income (50%) $51,800 $59,200 $66,600 $73,950 $79,900
ESTIMATED MAXIMUM RESALE
PRICE
Unit Type Studio 1 Bedroom 2 Bed/ Equivalent** 3 Bedroom 4 Bedroom Moderate Income (120%) $361,944 $416,843 $465,258 $511,620 NA Median Income (100%) $266,371 $309,090 $340,362 $373,748 NA Low Income (80%) $160,107 $185,574 $203,772 $221,971 NA
MAXIMUM MONTHLY GROSS
RENTAL RATE
Unit Type Studio 1 Bedroom 2 Bed/ Equivalent** 3 Bedroom 4 Bedroom Moderate Income (120%) $2,848 $3,253 $3,660 $4,067 N/A
Low Income (80%) $1,553 $1,775 $1,997 $2,219 N/A
Very-Low Income (50%) $1,294 $1,479 $1,664 $1,849 N/A
Note: Maximum Sales Prices are calculated on a per unit basis, based on the average 90- day fixed 30-YR mortgage interest rate and the actual HOA fees charged to the unit. Maximum Sale Prices identified abelow is for illustrative purposes only. To confirm the maximum Resale Price of a BMR Unit, contact [email protected].
Note: Gross rent includes the total of monthly payments for a rental including a reasonable allowance for utilities, provided by the Housing Authority of Alameda County, and any required service charges or fees charged to tenants. Utility allowance and required charges/fees must be deducted from rents shown below.
* The maximum sales prices and rents allowed pursuant to the City's Affordable Housing Program are based on the housing affordability definitions found in the California Health and Safety Code at Section 50052.5 and 50053. These are to be considered maximum amounts and do not take into account market conditions that may limit actual sales and rent values. ** 2 Bedroom/Equivalent includes units with two bedrooms or units with 1 bedroom and a bonus area. To confirm if a unit is classified as a 2 bedroom equivalent, plesae contact the Owner or the City.
City of Emeryville C A L I F O R N I A
HOUSING AFFORDABILITY TABLE
MAXIMUM SALES PRICES AND RENTS*
2023/24 Program Year
Note: CA Housing and Community Development (HCD) annually updates the income limits based on U.S. Department of Housing and Urban Development (HUD) revisions to the Public Housing and Section 8 Income Limits that HUD most recently released on June 6, 2023. The income limits reflected below are for Alameda County. For households of 6 or more, please contact [email protected].
Exhibit A
DocuSign Envelope ID: 8932EE28-FABA-4FE3-AE59-E0FA5C77CCE2