JAMBOREE HOUSING CORPORATION - Laserfiche WebLink

Home Browse Search

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