HomeMy WebLinkAboutCT 13-05; Taylor Morrison of California LLC; 2014-0369877; Affordable Housing Agreement/ReleaseFf
RECORDING REQUESTED BY:
City of Carlsbad
WH.EN RECORDED MAIL TO:
City c'f Carlsbad
City Clerk's Office
Attn: CityClerk
1200 Carlsbad Village Drive
Carlsbad. Califomia 92008
DOCtt 2014-03G9877
IIIIIIIII II llllllllllllillliilllllllllll
AUG 27, 2014 4:39 PM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
Emest J. Dronenburg, Jr., COUNTY RECORDER
FEES: 0.00
PAGES; 14
(Space ahove for Recorder's Use)
AFFORDABLE HOUSING AGREEMENT
IMPOSING RESTRICTIONS ON REAL PROPERTY
RESTRICTIOl NS ON This AFFORDABLE HOUSING AGREEMENT IMPOSING
REAL PROPERTY ("Agreement"), entered into this l2-Ho day of.
2014, b)' and between the CITY OF CARLSBAD, a municipal corporation (hereinafter referred
to as the ("City"), and TAYLOR MORRISON OF CALIFORNIA, LLC, a CALIFORNIA
LIMITEO LIABILITY company (hereinafter referred to as the "Developer"), is made with
reference to the following:
A. Developer is the owner of certain real property in the City ofCarlsbad, in the
County of S.an Diego, Califomia (hereinafter referred to as the "Subject Property") described in
"Attachment A", which is attached hereto and incorporated herein by this reference.
B. For the purposes of this Agreement, Developer currently intends to construct a
total of forty-J.cven (47) residential units (hereinafter referred to as the "Development") on the
Subject Property. The City has approved Tentative Tract Map CT 13-05, and Village Review
Permit RP 13^ 15 (which also serves as the approved Site Development Plan) for the
Development. The City issued the approval subject to certain Conditions of Approval, including
a condition requiring at least fifteen percent (15%) of the units in the Development to be
affordable housing as required by the City's Inclusionary Housing Ordinance (CMC Chapter
21.85)..
NCW, THEREFORE, it is mutually agreed by and between the undersigned parties as
follows:
i • Satisfaction of Affordable Housing Obligation and Conditions of Approval. In
order to satisfy the Conditions of Approval for the Development and requirements of the City's
Inclusionary Housing Ordinance, Carlsbad Municipal Code Chapter 21.85, Developer shall
provide a total of six (6) Affordable Units on-site which shall be restricted and affordable to
lower-incomf; households, and purchase one (1) housing credit in the Roosevelt Gardens off-site
CA 6/25/14
combined affordable housing development or another approved combined affordable housing
development located within the northwest quadrant of the City as approved and directed by the
Housing and Neighborhood Services Director. This Agreement is an Affordable Housing
Agreement pursuant to Section 21.85.140 of Chapter 21.85 of the Carlsbad Municipal Code.
Developer shall submit this Agreement to City and Agreement shall be executed prior to the
approval ofthe final map for the Subject Property.
2. Terms Goveming Provision of Affordable Ownership Units.
2.1. Obligation to Provide Affordable Units.
2.1.1. Developer shall provide the six (6) on-site Affordable Units in relation
to the forty-one (41) Market Units ("Market Units") on the Subject Property. The Affordable
Units shall include two bedroom units with the square footage indicated in "Attachment B" to
this Agreement. The maximum allowable income level of buyers of the affordable units shall be
restricted to a maximum of 80% of the area median income.
2.2 Schedule for Developing Affordable Units.
2.2.1. Prior to the approval of any Final Map, Grading Permit or Building
Permit for the Development: (i) this Agreement shall be duly executed and recorded against the
entire development property; and (ii) the Developer shall have received approval and submitted a
copy of a Site Development Plan (or Village Review Permit) for the development which will
include all ofthe Affordable Units to the Housing and Neighborhood Services Director.
2.2.2 Prior to approval ofthe first Building Permit for the Development, the
Developer shall purchase one (1) affordable housing credit in the Roosevelt Garden Affordable
Housing Development, or other affordable housing combined project in the northwest quadrant
as approved by the City Council and directed by the Housing and Neighborhood Services
Director, for an amount established by resolution of the City Council and as required by
Condition No. 23 ofPlanning Commission Resolution No. 7048. The affordable housing credit
shall be purchased no later than two (2) years following City Council approval of this
Agreement. The subject housing credit will be reserved for said Developer for no longer than two
(2) years following City Council approval ofthis Agreement. If the Developer does not purchase
the subject credit within two (2) years of the date of this Agreement, the City shall make the
credits available to one or more altemate developers and the Developer for this Agreement shall
then be required to satisfy its inclusionary obligation through altemate methods.
2.2.3 Upon satisfying the applicable conditions stated in Sections 2.2.1 and
2.2.2, all building permits can be released for the Market Units and for the Affordable Units.
2.3 Terms for Sale of Affordable Units.
2.3.1. The Schedule of Maximum Eligible Buyer Incomes and Affordable
Subsidized Purchase Prices (the "Schedule") attached hereto and incorporated herein as Exhibit
CA 6/25/14
C sets forth the City's requirements for determining the maximum household income of buyers of
the Affordable Units ("Eligible Buyers") and the methodology for calculation of the subsidized
purchase prices of Affordable Units which will be affordable to each of the Eligible Buyers (the
"Affordable Purchase Prices"). The Schedule also includes initial estimates of Eligible Buyer
actual incomes and the corresponding Affordable Purchase Prices. The Final Schedule shall be
established prior to sale based on the San Diego County Area Median Income and the cost factors
applicable at the time. The Final Schedule shall be submitted by the Developer and approved by
the City's Housing and Neighborhood Services Director prior to the marketing ofthe Affordable
Units.
2.3.2. The Developer shall sell the Affordable Units only to Eligible
buyers whose household incomes have been verified by the Developer. The purchase price for an
Affordable Unit (the "Market Purchase Price") shall be the market price charged for a
comparable unit (and not to exceed fair market value); provided, however, that the Developer
shall carry back financing equal to the difference between the Market Purchase Price and the
Affordable Purchase Price for the particular Eligible Buyer (the "Primary Affordability
Subsidy"). The carryback financing shall be assigned by the Developer to the City, and shall be
evidenced by a promissory note from the Eligible Buyer to the City, secured by a second
mortgage deed of trust on the Affordable Unit (the "City Second Mortgage"). The balance of the
Market Purchase Price shall be paid by the Eligible Buyer to the Developer in cash, utilizing
downpayment monies and first mortgage proceeds.
2.4 Terms for Re-sale of Affordable Units. After the initial sale of the inclusionary for-
sale units at a price affordable to the target income level group, inclusionary for-sale units shall
remain affordable to subsequent low income eligible buyers pursuant to a resale restriction for a
minimum term of fifteen (15) years. Beginning in the sixteenth (16) year after the initial purchase of
an Affordable Unit, for-sale units may be sold at a market price to other than targeted lower income
households provided that the sale shall result in the recapture by the City or its designee of a
financial interest in the units equal to the amount of subsidy necessary to make the unit affordable
to the designated income group and a proportionate share of any appreciation. Funds recaptured by
the City shall be used in assisting other eligible households with home purchases at affordable
prices. To the extent possible, projects using for-sale units to satisfy inclusionary requirements
shall be designed to be compatible with conventional fixed rate mortgage financing programs
including secondary market requirements.
2.5 Terms for Interim Rental of Affordable Units. The developer may elect to retain
ownership of one or more of the Affordable Units for a period of time and rent those Affordable
Units to income-qualified renters. The Affordable Units, if rented, shall be available to households
with incomes not exceeding 80% ofthe median income for San Diego County, adjusted for actual
household size. Monthly rents ofthe Affordable Units shall not exceed 1/12* of 30% of 70% of
median household income for San Diego County, adjusted for assumed household size appropriate
for the unit. For purposes ofthis Agreement, "Rent" shall include a utility allowance as established
and adopted by the City of Carlsbad Housing Authority, as well as all required monthly payments
made by the tenant to the lessor in connection with use and occupancy of a housing unit and land
and facilities associated therewith, including any separately charged fees, utility charges, or service
CA 6/25/14
charges assessed by the lessor and payable by the tenant (but not including fees and charges
resulting from any default by the tenant or damage caused by the tenant, or fees or charges paid by
the tenant to third party utilities or other providers). Median income figures shall be those published
annually by the United States Department of Housing and Urban Development. Assumed
household size figures shall be provided by the City of Carlsbad Housing and Redevelopment
Department. With respect to each Affordable Rental Unit, the affordability requirements of this
Section 2.5 shall continue for fifty-five (55) years from the date of issuance of a Certificate of
Occupancy by the City for such unit or another comparable unit based upon substitution provisions
pursuant to the Regulatory Agreement, or until the units are sold to a household with an income not
exceeding 80% of the median income for San Diego County, adjusted for actual household size.
The affordability requirements of this Section 2.5 shall be set forth in the Rental Regulatory
Agreement between the Developer or its successors and the City, provided for below, which shall
supersede this Agreement upon recordation of the Regulatory Agreement.
3. City Approval of Documents.
3.1. The following documents, in form and substance acceptable to the City,
shall be used in connection with the sale of Affordable Units. Documents to be prepared by
Developer shall be submitted to the Housing and Neighborhood Services Director for review and
approval no later than the start of construction of the Affordable Units.
3.1.1. A marketing plan establishing the process for seeking, selecting and
determining the eligibility of buyers ofthe Affordable Units shall be prepared by the Developer
and submitted to the Housing and Neighborhood Services Director for review and approval.
3.1.2. An educational program informing Affordable Unit purchasers ofthe
obligations of home ownership and the specific features of this program shall be prepared by the
Developer, and each new homeowner must successfully complete this educational program.
3.1.3. Purchase and Sale Agreements for sale of the Affordable Units shall be
prepared by the Developer.
3.1.4. City Second Mortgage promissory note, deed of trust, and borrower
disclosure form shall be prepared by the City and provided to the Developer.
3.2 The following documents, in form and substance acceptable to the City,
shall be used in connection with the rental of the Affordable Units, if applicable.
3.2.1 A marketing plan consistent with the terms of this Agreement,
establishing the process for seeking, selecting and determining the eligibility of tenants of the
Affordable Units.
3.2.2 Form of Rental Agreement.
3.2.3 A Property Management Plan.
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3.2..4 A Form of Regulatory Agreement between the developer of the
Affordable Units and City (the "regulatory agreemenf), following a format designated by the
City.
3.3 Any ofthe documents identified in Sections 3.1 and 3.2 may be revised by
Developer from time to time with the prior written approval of the City's Housing and
Neighborhood Services Director.
4. Mortgage Credit Certificate Program. Buyers of the Affordable Units may qualify
for income tax credits pursuant to Mortgage Credit Certificate (MCC) Program, for a portion of
the annual interest paid on a first mortgage used to acquire the Affordable Unit. City shall
cooperate with Developer in obtaining and providing to prospective buyers Mortgage Credit
Certificates from allocations which it may receive.
5. Reporting and Compliance Monitoring. A report verifying compliance with the
requirements of this Agreement covering the initial sales of the Affordable Units shall be
provided to the City by the Developer and approved by the Housing and Neighborhood Services
Director. Developer shall provide the City with other reports as reasonably required by the City
to verify compliance with this Agreement. If the developer exercises the option to rent the
Affordable Units, a Compliance Report meeting the requirements of Section 21.85.140 ofthe
Inclusionary Housing Ordinance, verifying compliance of all completed Affordable Units with
the terms ofthis Agreement and certified as correct by a third-party, shall be submiti;ed annually
to the Housing and Neighborhood Services Director, commencing on the first Report Date that is
twelve months from the completion of construction of the Affordable Units. If similar reports on
some or all of the Affordable Units are required for regulatory compliance with other financing
programs, those reports may be deemed satisfactory for the purpose of this section by the
Housing and Neighborhood Services Director, with respect to the portion ofthe Affordable Units
covered by such reports, provided that copies are provided on an annual basis to the Housing and
Neighborhood Services Director with a third party certification addressed to the City.
6. Default. Failure of the Developer to cure any default in the Developer's
obligations under the terms of this Agreement within (90) days after the delivery of a notice of
default from the City (or where the default is of the nature which cannot be cured within such
ninety (90) period, the failure of the Developer to commence to cure such defauh within the
ninety (90) day period or the Developer's failure to proceed diligentiy to complete the cure of
such a default within a reasonable time period but in no event not greater than 180 days) will
constitute a failure to satisfy the Conditions of Approval with respect to the Subject Property and
the requirements of Chapter 21.85 ofthe Carlsbad Municipal Code and void the approval ofthe
Final Map and Site Development Plan or Village Review Permit; and the City may exercise any
and all remedies available to it with respect to the Developer's failure to satisfy the Conditions of
Approval, including but not limited to, the withholding of building permits for the Market Units
within the Subject Property until such cure is completed.
CA 6/25/14
7. Appointment of Other Agencies. At its sole discretion. City may designate,
appoint or contract with any other public agency, for-profit or non-profit organization to perform
the City's obligations under this Agreement.
8. Release of Subiect Propertv from Agreement. The covenants and conditions
herein contained shall apply to and bind the Developer and its heirs, executors, administrators,
successors, transferees, and assignees of all the parties having or acquiring any right, title or
interest in or to any part of Subject Property and shall run with and burden the Subject Property
until terminated in accordance with the provisions hereof. Prior to the issuance of building
permits, the Developer shall expressly make the conditions and covenants contained in this
Agreement a part ofany deed or other instmment conveying any interest in the Subject Property.
Notwithstanding anything to the contrary set forth in the Agreement, individual purchasers of
market rate units pursuant to an approved public report in compliance with the Califomia
Subdivided Lands Act, and mortgage lenders holding deeds of tmst on such individual units after
sale to such purchasers, shall not be subject to the terms of this Agreement; and the terms ofthis
Agreement shall be of no further force or effect with respect to such completed unit on the date
of the recordation of a deed to the individual purchaser. Upon issuance of certificates of
occupancy for all ofthe Affordable Units, the entire Subject Property, with the exception ofthe
property subject to the approved Site Development Plan or Village Review Permit, shall be
released from the burdens ofthis Agreement. The burdens of this agreement shall remain in full
force and effect and recorded against the property subject to the approved Site Development Plan
or Village Review Permit in accordance with the terms of this agreement. The burdens ofthis
agreement shall remain in full force and effect and recorded against the affordable units for a
minimum of 55 years ifthe units are rental and 30 years if the units are sold.
9. Hold Harmless. Developer will indemnify and hold harmless (without limit as to
amount) City and its elected officials, officers, employees and agents in their official capacity
(hereinafter collectively referred to as "Indemnitees"), and any of them, from and against all loss,
all risk of loss and all damage (including expense) sustained or incurred because of or by reason
ofany and all claims, demands, suits, actions, judgments and executions for damages of any and
every kind and by whomever and whenever made or obtained, allegedly caused by, arising out of
or relating in any manner to Developer's performance or non-performance pursuant to this
Agreement, and shall protect and defend Indemnitees, and any of them with respect thereto. The
provisions ofthis section shall survive expiration or other termination ofthis Agreement or any
release of part or all of the Property from the burdens of this Agreement, and the provisions of
this Section 9 shall remain in full force and effect
10. Insurance Requirements: Developer shall obtain, at its expense, comprehensive
general liability insurance for the development of the Subject Property naming Indemnitees as
additional named insureds with one million dollars ($1,000,000) per occurrence and aggregate
limits of not less than two million dollars ($2,000,000) for bodily injury and death and property
damage, including coverages for contractual liability and products and completed operations,
purchased by Developer or its successors or assigns from an insurance company duly licensed to
engage in the business of issuing such insurance in the State, with a current Best's Key Rating of
not less than A-:V, such insurance to be evidenced by an endorsement which so provides and
CA 6/25/14
delivered to the Housing and Neighborhood Services Department prior to the issuance of any
building permit for the Subject Property. Said insurance shall remain in effect until all affordable
units have been constructed and a certificate of occupancy or approval of final inspection by the
City for all of the affordable units has been completed.
11. Notices. All notices required pursuant to this Agreement shall be in writing and
may be given by personal delivery or by registered or certified mail, retum receipt requested, to
the party to receive such notice at the addressed set forth below:
TO THE CITY OF CARLSBAD
CITY OF CARLSBAD
Housing and Neighborhood Services Department
Attn: Housing and Neighborhood Services Director
1200 Carlsbad Village Drive
Carlsbad, Califomia 92008
TO THE DEVELOPER:
Taylor Morrison of Califomia, LLC
8105 Irvine Center Drive, Suite 1450
Irvine, Ca. 92618
Any party may change the address to which notices are to be sent by notifying the other
parties of the new address in the manner set forth above.
12. Integrated Agreement. This Agreement constitutes the entire Agreement between
the parties and no modification hereof shall be binding unless reduced to writing and signed by
the parties hereto.
13. Duration of Agreement. This Agreement shall remain in effect for 55 years
following the date certificates of occupancy have been issued for all affordable rental units or for
30 years for all affordable ownership units, and/or shall terminate and become null and void upon
the : (a) the closing ofthe sale ofthe last of the Affordable Units to an individual eligible
purchaser pursuant to a sale on an approved public report in compliance with the Califomia
Subdivided Lands Act, or (b) upon the granting of a written release by the Housing and
Neighborhood Services Director . This Agreement, and any section, subsection, or covenant
contained herein, may be amended only upon the written consent of Developer and the Housing
and Neighborhood Services Director.
14. Recording of Agreement. The parties hereto shall cause this Agreement to be
recorded against the Subject Property in the Official Records of the County of San Diego.
CA 6/25/14
15. Severability. In the event any limitation, condition, restriction, covenant, or
provision contained in this Agreement is to be held invalid, void or unenforceable by any court of
competent jurisdiction, the remaining portions of this Agreement shall nevertheless be and
remain in full force and effect.
(The remainder ofthis page has been left intentionally blank)
CA 6/25/14
FN WITNESS WHEREOF, the parties hereto have caused this agreement to be
executed as of the day and year first above written.
DEVELOPER
By: Taylor Morrison of Califomia, LLC
CITY
City ofCarlsbad, a Municipal corporation
By
Name'VW\%€>'6^- '^c»(^w\
Title \J \cz,^M.\
Housing and Neighborhood Se
Director
By:
Name
Titie
\^ \\<>v<cJt
If required by City, proper notarial acknowledgment of execution by contractor must be attached.
If a Corporation. Agreement must be signed by one corporate officer from each ofthe following
two groups.
*Group A.
Chairman,
President, or
Vice-President
**Group B.
Secretary,
Assistant Secretary,
CFO or Assistant Treasurer
Otherwise, the corporation must attach a resolution certified by the secretary or assistant
secretary under corporate seal empowering the officer(s) signing to bind the corporation.
APPROVED AS TO FORM:
CELIA BREWER, City Attomey
fane Mobaldi
• i/ Assistant City Attomey
CA 6/25/14
ACKNOWLEDGMENT
State of California
County of Orange
On rfyjU n,2-Qm before me, Rebecca Nail. Notary Public
• (insert name and title of the officer)
personally appeared VWAlv^ 3.1^061^ /kV\^ M/iril^ Flor^ ,
who proved to me on the basis'of satisfactory evidence to be the person(s) whose name(s)^/are
subscribed to the within instrument and acknowledged to me that h^st^lihey executed the same in
hj«7l?#/their authorized capacity(ies), and that by hi^^their signature(s) on the instrument the
person(s), orthe entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
lA^^s. REBECCA NALL f
,.„.,-K,,-^r, u J -I «• „i ^.,^1 Commission # 1940931 C
WITNESS my hand and official seal. IP^^P Notary Public - California i
ixte^p/ Orange County g
I 1 ^ .-^ /^i 4 ^^SB*^ Comm. Expires Jul 11,20151
\AM^\A>~^ ,3,,,,
ATTACHMENT A
LEGAL DESCRIPTION OF SUBJECT PROPERTY
PARCEL A: APN 203-054-22
LOTS 16 AND 17 IN SEASIDE LANDS, IN THE CITY OF CARLSBAD, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 1722, FILED IN
THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, JULY 28, 1921.
PARCEL B; APN 203-054-21
LOT 15 IN SEASIDE LANDS, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO THE MAP THEREOF NO. 1722, FILED IN
THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, JULY 28, 1921.
PARCEL C: APN 155-200-07
THAT PORTION OF LOT 18 IN SEASIDE LANDS, IN THE CITY OF CARLSBAD,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO THE MAP
THEREOF NO. 1722, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN
DIEGO COUNTY, JULY 28, 2921.
PARCEL D: APN 203-054-19 & 20
LOTS 12, 13, AND 14, SEASIDE LANDS, IN THE COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO THE MAP THEREOF NO. 1722, FILED IN THE OFFICE
OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, JULY 28, 1921.
CA 6/25/14
ATTACHMENT B
LOCATION, SIZE, AND BEDROOM COUNT
OF AFFORDABLE UNITS
Building # Unit Square Feet Bedrooms Bath
N/A Al -4 TOTAL 1211 2 2
N/A A2 - 2 TOTAL 1194 2 2
CA 6/25/14
ATTACHMENT C
SEE ATTACHED 2014 HUD MEDIAN INCOME SCHEDULE
CA 6/25/14
San Diego-Carlsbad-San Marcos, CA Metropolitan Statistical Area (MSA)
Household Income Limits HUD Method
Note: The following household income limits are adjusted for a high cost area as
per the Federal Housing Act of 1937 and calculated using HCD methodology to
comply with Health and Safety Code Sections 50052.5 and 50093.
San Diego-Carlsbad.San Marcos, CA MSA
U.S. Department of Housing and Urban Development
December 18,2013 Effective Date
2014
$ 72,700
Extremely Low Income
30% 35% 40% 45%
Hshold
Size Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
ONE
TWO
THREE
FOUR
FIVE
SIX
SEVEN
EIGHT
$16,600
$18,950
$21,300
$23,650
$25,550
$27,450
$29,350
$31,250
$1,383
$1,579
$1,775
$1,971
$2,129
$2,288
$2,446
$2,604
$415
$473
$532
$591
$638
$686
$733
$781
$19,350
$22,100
$24,850
$27,600
$29,850
$32,050
$34,250
$36,450
$1,613
$1,842
$2,071
$2,300
$2,488
$2,671
$2,854
$3,038
$483
$552
$621
$690
$746
$801
$856
$911
$22,100
$25,250
$28,400
$31,550
$34,100
$36,600
$39,150
$41,650
$1,842
$2,104
$2,367
$2,629
$2,842
$3,050
$3,263
$3,471
$553
$631
$710
$789
$853
$915
$979
$1,041
$24,850
$28,400
$31,950
$35,500
$38,350
$41,200
$44,050
$46,900
$2,071
$2,367
$2,663
$2,958
$3,196
$3,433
$3,671
$3,908
$621
$710
$799
$888
$959
$1,030
$1,101
$1,173
Very Low Income
50% 60% 70%
Low Income
80%
Hshold
Size Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
ONE
TWO
THREE
FOUR
FIVE
SIX
SEVEN
EIGHT
$27,650
$31,600
$35,550
$39,450
$42,650
$45,800
$48,950
$52,100
$2,304
$2,633
$2,963
$3,288
$3,554
$3,817
$4,079
$4,342
$691
$790
$888
$986
$1,066
$1,145
$1,223
$1,302
$33,180
$37,920
$42,660
$47,340
$51,180
$54,960
$58,740
$62,520
$2,765
$3,160
$3,555
$3,945
$4,265
$4,580
$4,895
$5,210
$829
$948
$1,066
$1,183
$1,279
$1,374
$1,468
$1,563
$38,700
$44,200
$49,750
$55,250
$59,700
$64,100
$68,550
$72,950
$3,225
$3,683
$4,146
$4,604
$4,975
$5,342
$5,713
$6,079
$967
$1,105
$1,243
$1,381
$1,492
$1,602
$1,713
$1,823
$44,200
$50,500
$56,800
$63,100
$68,150
$73,200
$78,250
$83,300
$3,683
$4,208
$4,733
$5,258
$5,679
$6,100
$6,521
$6,942
$1,105
$1,262
$1,420
$1,577
$1,703
$1,830
$1,956
$2,082
90% 100%
Moderate Income
110% 120%
Hshold
Size Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
Annual
Income
Monthly
Income
30.00%
Monthly
ONE
TWO
THREE
FOUR
FIVE
SIX
SEVEN
EIGHT
$45,850
$52,400
$58,950
$65,450
$70,700
$75,950
$81,200
$86,400
$3,821
$4,367
$4,913
$5,454
$5,892
$6,329
$6,767
$7,200
$1,146
$1,310
$1,473
$1,636
$1,767
$1,898
$2,030
$2,160
$50,900
$58,200
$65,450
$72,700
$78,550
$84,350
$90,150
$96,000
$4,242
$4,850
$5,454
$6,058
$6,546
$7,029
$7,513
$8,000
$1,272
$1,455
$1,636
$1,817
$1,963
$2,108
$2,253
$2,400
$56,000
$64,000
$72,000
$79,950
$86,350
$92,750
$99,150
$105,550
$4,667
$5,333
$6,000
$6,663
$7,196
$7,729
$8,263
$8,796
$1,400
$1,600
$1,800
$1,998
$2,158
$2,318
$2,478
$2,638
$61,100
$69,800
$78,550
$87,250
$94,250
$101,250
$108,200
$115,200
$5,092
$5,817
$6,546
$7,271
$7,854
$8,438
$9,017
$9,600
$1,527
$1,745
$1,963
$2,181
$2,356
$2,531
$2,705
$2,880
Note: Income levels 80% and below are adjusted by a HUD high cost area allowance.
This general income information is calculated from the U.S. Department of Housing and Urban
Development (HUD) income figures. Specific program requirements may vary.
Prepared by Affordable Housing Services Information, LLC Web: www.AHSinfo.com Phone (858) 832-1460