Sec. 50052.5 | Los Angeles City Law Search

emaining required restricted affordable units may be set up to the maximum income, affordable rent, and affordable for-sale housing cost, for households earning up to 120 percent of the area median income, as determined by the california t ax credit Allocation committee, or per California Health and Safety Code Sec. 50052.5 and Sec. 50053. A project may elect to set these remaining required restricted affordable units at a lower income and affordability level. in addition, 20 percent of all project dwelling units (inclusive of density bonus units) may be unrestricted. c) Faith Based Organization Projects A faith-based organization project shall provide a percentage of dwelling units (excluding dwelling units added by a density bonus) as restricted affordable units meeting one of the following income and affordability levels for one of the unit types specified in parentheses: 16 percent for very low income households (for rent or sale); 25 percent for low income households (for rent or sale); or 45 percent for moderate income households (for sale), as those referenced incomes, rents and housing cost are defined in California Government Code Sec. 65915. the remaining required restricted affordable units may be set up to the maximum income, affordable rent, and affordable for-sale housing cost for lower income households, as determined by the california t ax credit Allocation committee, or per California Health and Safety Code Sec. 50052.5 and Sec. 50053; but with the exception that up to 20 percent of the remaining required restricted affordable units may be set at an affordable rent or for-sale housing cost to households earning up to 120 percent of the area median income, as determined by the california t ax credit Allocation committee, or per California Health and Safety Code Sec. 50052.5 and Sec. 50053. A project may elect to set these remaining required restricted affordable units at a lower income and affordability level. in addition, 20 percent of all project d