Unsplash
What means AMI and how it is calculated?
In a rapidly growing city like San Francisco, maintaining a balanced housing market is essential to meet the needs of residents across income levels. Imagine a developer planning to construct a new housing project. To ensure fairness, the city's "Housing Balance" policy comes into play, which measures the proportion of affordable new housing units to lower-income households compared to market-rate units.
Housing Balance Calculation in San Francisco
AMI means Area Median Income as defined in California Health & Safety Code Section 50106.
“Housing Balance” is defined as the proportion of all new housing units affordable to households of extremely low, very low, low, or moderate-income households, as defined in California Health & Safety Code Sections 50079.5, as such provisions may be amended from time to time, less the number of units removed from rent-controlled or below-market status, to the total number of all new housing units for a 10-year Housing Balance Period.
Affordable housing as determined by the Mayor’s Office of Housing and Community Development (MOHCD)
(A) Extremely Low-Income Units, which are units available to individuals or families making between 0-30% of Area Median Income (AMI) as defined in California Health & Safety Code Section 50106, and are subject to price or rent restrictions between 0-30% AMI;
(B) Very Low-Income Units, which are units available to individuals or families making between 30-50% AMI as defined in California Health & Safety Code Section 50105, and are subject to price or rent restrictions between 30-50% AMI;
(C) Lower Income Units, which are units available to individuals or families making between 50-80% AMI as defined in California Health & Safety Code Section 50079.5, and are subject to price or rent restrictions between 50-80% AMI;
(D) Moderate Income Units, which are units available to individuals or families making between 80-120% AMI and are subject to price or rent restrictions between 80-120% AMI;
(E) Middle-Income Units, which are units available to individuals or families making between 120-150% AMI and are subject to price or rent restrictions between 120-150% AMI;
(F) Market-rate units, which are units not subject to any deed or regulatory agreement with price restrictions;
Start with an analysis to determine how much money you need for your project.
Related Articles
What is the permit application process for a construction project in San Francisco?
What means Discretionary Review in San Francisco?
What means RH or Single family zoning in San Francisco?
What means RM zoning in San Francisco?
What means streamlined approval process for SB-9 projects in San Francisco