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EXHIBIT 3 <br />shall be one 1 -bedroom unit and one 2 -bedroom unit, floating, and shall be distributed <br />throughout the complex with comparable amenities to the other units. <br />C. At initial lease up, households in the HOME assisted units cannot earn more than <br />30% of AMI. Rental increases shall be in conformance with federal and state law. After <br />the twenty (20) year HOME compliance period, the City shall require that the units <br />remain affordable, with rents calculated based on assumed household size at the same <br />income levels <br />D. All of the HOME units will be restricted to occupancy by families earning no more than <br />thirty (30%) of the Area Median Income (AMD. <br />E. Maximum Occupancy will be two (2) people per room plus one (1). Example for a two- <br />bedroom unit, five (5) people would be maximum occupancy. <br />F. Affordable rents shall be governed by the HOME Program regulations at 24 CFR <br />section 92.2. <br />G. Developer must have a written lease between tenant and owner for a period of at least <br />one year, unless a shorter period is mutually agreed upon. Leases must be consistent with <br />the HOME Program regulations at 24 CFR section 92.209(g). <br />7.2 Affordability Levels/Unit Mix: <br />The affordability levels/unit mix for the Project is as follows: <br />Unit Size <br />30% AMI <br />Total <br />No. Current <br />Units Rent <br />1 Bedroom <br />71 $1,025 <br />71 <br />2 Bedroom <br />4 $1,230 <br />4 <br />Total <br />75 <br />75 <br />The remaining unit will be a 1 -bedroom unit reserved for the onsite manager. <br />HOME Assisted Units <br />Total # of <br />Level of <br /># of HOME <br />° <br />/o Share of <br />Units Unit Type <br />Affordability <br />Assisted <br />Unit Type <br />Units <br />71 1 Bed <br />30% AMI <br />1 <br />1.4% <br />4 2 Bed <br />1 <br />25% <br />(1) In no event shall the rent charged to the HOME assisted units be more than that <br />amount of the low HOME rent as published by HUD, as amended from time to <br />time. <br />12 <br />25L-56 <br />