R-9680
City Council Meeting 7/10/2001
Santa Monica, California
RESOLUTION NUMBER 9680 (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA ESTABLISHING
THE 2001 MAXIMUM ALLOWABLE RENTS AND
MAXIMUM ALLOWABLE PURCHASE PRICES
FOR THE INCLUSIONARY HOUSING PROGRAM
WHEREAS, the City Council of the City of Santa Monica adopted Ordinance
Number 1615 (CCS) on March 3,1992, Santa Monica Municipal Code Sections 9.28 et
sea. ("the Inclusionary Housing Program"); and
WHEREAS, Santa Monica Municipal Code Section 9.28.100 provides that the City
Council by Resolution shall establish and adjust on an annual basis the maximum
allowable rents and maximum allowable purchase prices for inclusionary units under the
Inclusionary Housing Program; and
WHEREAS, the City Council of the City of Santa Monica adopted Ordinance
Number 1918 (CCS) on July 21, 1998, Santa Monica Municipal Code Sections 9.56 et sea.
("the Affordable Housing Production Program"), replacing Santa Monica Municipal Code
Sections 9.28et sea.; and
1
WHEREAS, Santa Monica Municipal Code Section 9.56.40 provides that multifamily
projects for which a development application was deemed complete prior to March 1. 1998
shall be subject to the provisions of Santa Monica Municipal Code Sections 9.28 et seo.
as they existed on the date the application for the project was deemed complete.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOllOWS:
SECTION 1. The maximum allowable rents and maximum purchase prices for
inclusionary units developed under the Inclusionary Housing Program are as shown in
Attachment 1 attached hereto and incorporated herein by reference.
SECTION 2. The City Clerk shall certify to the adoption of this Resolution. and
thenceforth and thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
2
ATTACHMENT 1 TO EXHIBIT 4
YEAR 2001 MAXIMUM INCOME, RENT, AND PURCHASE PRICES
For On-Site & Off-Site Affordable Housing
MAXIMUM ALLOWABLE INCOME (ANNUAL)
Household Very Low Low Moderate
Size (50%) (60%) (100%)
1 $19,075 $22,890 $38,150
---
2 $21,800 $26,160 $43,600
--- --
3 $24,525 $29,430 $49,050
4 $27,250 $32,700 $54,500
~- ---
5 $29,430 $35,316 $58,860
6 $31,610 $37,932 $63,220
_.- -
7 $33,790 $40,548 $67,580
._--
8 $35,970 $43,164 $71,940
MAXIMUM ALLOWABLE RENTS (MONTHLY)
Very Low Low Moderate
Unit Type (50%) (60%) (100%)
O-Bdrm $477 $572 $954
1-- --
1-Bdrm $545 $654 $1,090
------ .---
2-Bdrm $647 $777 $1,294
f-- ~_.... ---.-. ----
3-Bdrm $739 $887 $1,478
$1,001 --------...--
4-Bdrm $835 $1,669
MAXIMUM ALLOWABLE PURCHASE PRICES (1615 CCS ONL y)1
Very Low Low Moderate
Unit Type (50%) (60%) (100%)
O-Bdrm $ 31,789 $ 43,879 $ 92,240
------.- .. ..._~---~._---
1-Bdrm $ 36,331 $ 50,148 $ 105,417
-.--- --------.-.--------
2-Bdrm $ 43,143 $ 59,550 $ 125,183
-----.---.------- -.--------
3-Bdrm $ 49,273 $ 68,013 $ 142,972
'Purchase prices for affordable units subject 10 Ordinance 1918 (the Affordable Housing Production Program)
are determined by criteria established in Section 6 of the Administrative Guidelines for the Affordable Housing
Production Program. .
Adopted and approved this 10th of July, 2001.
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//~ / ~-
(" ,."
Michael Feinstein, Mayor
I, Maria M. Stewart, City Clerk of the City of Santa Monica, do hereby
certify that the foregoing Resolution No. 9680 (CCS) was duly adopted at a
meeting of the Santa Monica City Council held on the 10th of July, 2001, by the
following vote:
Ayes: Council members:
McKeown, Genser, Katz, Mayor Pro Tern
Bloom, Mayor Feinstein
Noes: Council members:
None
Abstain: Council members:
None
Absent: Council members:
Holbrook, O'Connor
ATTEST:
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