For purposes of this article, the following definitions apply: (a) âAffordable housing for students or employeesâ means a housing development with a majority of its rents restricted to levels that are affordable to low-income students, or employees who are persons and families of low or moderate income. (b) âLow-income studentâ means a student whose income and asset level does not exceed the level required for the Cal Grant A award or Cal Grant B award. (c) âPersons and families of low or moderate incomeâ has the same meaning as defined in Section 50093 of the Health and Safety Code.
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