COM 1051.000 2018-2020 - Laserfiche WebLink

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County of Harwai`i 201H Application Package ATTACHMENT "SUMMARY "SUMMARY SHEET SECTION 1I H. Income and Rent Restrictions Applicant commits to set-aside units based on the following income and rent restrictions. Complete the chart below. The "Whereas" clauses of Resolution No. 281-14 recite that 147 of the Project's housing units will be affordable to families earning less than certain percentages of the median income to comply with Section 201H-38 of the HRS. Pursuant to the affordable housing requirements of Chapter 11, Article 1 of the Hawaii County Code and. Ordinance No. 06-78, the Prosect 's affordable housigg requirement is defined in terms o{a fordable housing credits the Proiect muse generate, not affordable units. Applicant is committed to satisfying the affordable housing requirements for the Project by constructing and renting affordable accommodations such that they generate affordable housing credits on-site equal to not less than fifty percent (50%) of the total units at the Project, with each phase generating no less than twenty percent (20%) of the affordable housing credits required for such phase. In addition to the foregoing, Applicant shall construct and rent affordable units in one or more phases of the Project sufficient to generate a total of 7 additional affordable housing credits on-site to satisfy the requirements under that certain Agreement dated September 21, 2005 between Kaha'Olino Partners, LLC, and Applicant's predecessor in interest, Lava Kuakini, LLC, recorded in the Bureau of Conveyances as Document No. 2005- 218094. See the following chart for an example of how the Applicant shall satisfy the affordable housing requirements for the Project: Affordable Housing Credits Generated Phase I: Assisted Living/Memory Care Facility Restricted at % of AMGI* Number of units Affordable Housing Credits Generated < 60% of AMGI I l units 22 60%-80% of AMGI 12 units 18 o a 80 /0-100 /o of AMGI 11 units 11 Total AL/MC Affordable Units 34 units 51 credits Market Rate ALIMC Units 67 units Total Number of ALIMC Units 101 units Phase IT: Skilled Nursing Facility Restricted at % of AMGI* Number of units3 Affordable Housing 2 As used herein, "Unit" means a dwelling unit and a suite, room and/or bed in a multi -occupancy ward for lease which serves as the primary residence for the renter. 3 As used herein, "Unit" means a dwelling unit and a suite, room and/or bed in a multi -occupancy ward for lease which serves as the primary residence for the renter. Form 2011-1-001 Page 3