What does ‘affordable’ mean?

At least one reader was interested in the answer to the question in the headline of this blog post as it relates to the proposedĀ Cal Weber 40 project reported on in Sunday’s paper. Indeed, it’s a valid question.

Here’s the answer, as contained in the staff report included with the agenda for tomorrow night’s City Council meeting:

“Thirty-nine of the units will be rent restricted for 55 years and will be required to be rented to low-income tenants earning between 30 and 60 percent of the area’s median income (AMI) as designated by HUD. Four of the units will be rented to households with incomes at or below 30% of the AMI. … One unit will be for an on-site manager.”

Here’s the full staff report.

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