C-02 (Exhibit A - Vertical Mixed Use Program Affordability Requirement).pdf — original pdf

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Exhibit A Recommended changes to the affordability requirements for the Vertical Mixed Use Buildings (Commissioners Azhar and Connolly) a. The affordability requirements for owner-occupied units should be adjusted to reserve at least ten percent of the residential units in the VMU building for ownership and occupancy by households earning no more than 80 percent of the current Annual Median Family Income for the City of Austin Metropolitan Statistical Area, for not less than 99 years. b. The affordability requirements for rental units should be adjusted to reserve at least ten percent of the residential units in the VMU building as affordable, for a minimum of 40 years, for rental by households earning no more than 60 percent of the Annual Median Family Income. 1 of 1C-2