Affordable Unit Requirement
Developers are required to set aside 20% of total project units as designated below market rates (BMRs) for moderate-income households.
For ownership residential projects partially in Emeryville, 20% of the total project units in Emeryville shall be set-aside units or 10% of all the units in the project shall be set aside with those units located in Emeryville, whichever is greater. In applying these percentage, any decimal fraction less than or equal to 0.50 may be disregarded and any decimal fraction greater than 0.50 shall be construed as requiring one dwelling unit.
Developers of projects requiring development bonuses must set aside project units as designated BMRs for very low-income households, low-income households, and moderate-income households in accordance with Section 9-4.204 (d)(1) of the Planning Regulations.
Resale Requirements
Emeryville imposes a resale condition for a minimum period of forty-five (45) years which start over with each resale. The resale restriction agreement limits the resale price of the affordable unit to the lesser of a bona fide offer to purchase or the maximum affordable resale price affordable to a moderate-income household or median income household, as applicable. Visit the Compliance & Resource Tab to view a sample resale restriction agreement and Resale Marketing Guidelines.
Affordability Requirements
For ownership residential projects, housing costs shall generally mean the monthly mortgage principal and interest, property taxes and assessments, homeowners insurance, homeowner association fees where applicable, an allowance for utilities and property maintenance, and repairs. Visit the Compliance & Resource Tab to view the maximum affordable sales price and income requirements within the current Affordable Housing Table.