R-9681
City Council Meeting 7/10/2001
Santa Monica, California
RESOLUTION NUMBER 9681 (ees)
(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 AFFORDABLE HOUSING PRODUCTION PROGRAM
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 seq.
("the Affordable Housing Production Program"); and
WHEREAS, Santa Monica Municipal Code Section 9.56.100 provides that the City
Council by Resolution shall establish and adjust on an annual basis the maximum
affordable rents for affordable housing units under the Affordable Housing Production
Program.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The maximum allowable rents for affordable housing units developed
under the Affordable Housing Production Program are as shown in Attachment 1 attached
hereto and incorporated herein by reference.
SECTION 2. The purchase price of for-sale units shall be established on a unit-by-
unit basis in accordance with Section 6 of the Administrative Guidelines for the Affordable
Housing Production Program of the City of Santa Monica, approved by the City Council on
October 5, 1999.
SECTION 3. 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:
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Mars a Jones,M utne
City Attorney U
2
ATTACHMENT 1 TO EXHIBIT 5
YEAR 2001 MAXIMUM INCOME AND RENT*
For On-Site & Off-Site Affordable Housing
MAXIMUM ALLOWABLE INCOME (ANNUAL)
Household Very Low Low Moderate
Size (50%) (60% ) (100%)
II 1 $19,075 $22,890 $38,150 II
IW- $21,800 $26,160 ~~~,~~~ ~I
""'_.. --- "'-- ...--
II ,j ;jlL4,OLO ;jlL::I,4,jU ;jl4::1,UOU II
_.---------.. .-.-.'-----
4 ~?7 ?~() ~~? 7()() ~~ ~()n
II ......-. ,--- ......--,. -- $;8:860 II
5 $29,430 $35,316
I ---------, ~63,22~ II
6 $31,610 $37,932
7 $33,790 $40,548 $07,580
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-Bdrm $545 $654 $1,090
-- ------- --
2-Bdrm $047 $777 $1,294
":L ~ rl I"rY'I <<I:7':l.Q <<I: SUl7 <<1:1 A7s:l-
""-"""'.....1111 wrvv 'l'VVI \j.I',"T'V
--
4-Bdrm $835 $1,001 $1 ,669
'This table is published pursuant to Ordinance 1918 as codified
as Chapter 9.56 of the Municipal Code of the City of Santa
Monica.
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. 9681 (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:
Noes: Council members:
Abstain: Council members:
Absent: Council members:
McKeown, Genser, Katz, Mayor Pro Tem
Bloom, Mayor Feinstein
None
None
Holbrook, O'Connor
ATTEST:
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Maria Stewart, City Cle