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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 the <br />HOME Program regulations at 24 CFR section 92.209(g). <br />3.2 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. <br />Units <br />Current <br />Tient <br />1 Bedroom <br />71 <br />$1,025 <br />71 <br />2 Bedroom <br />4 <br />$1,230 <br />4 <br />Total <br />75 <br />71 <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 <br />Unit Type <br />Affordability <br />Assisted <br />Unit Type <br />Units <br />71 <br />1 Bed <br />30% AMI <br />1 <br />1.4% <br />4 <br />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 time. <br />(2) At the time of project completion, the Developer shall provide to the City the address <br />and/or unit number of each of the HOME floating units. <br />(3) Annually with the financial statements, the Developer shall provide an annual report <br />of rents and occupancy of all assisted units, including the HOME assisted units, to <br />verify compliance with affordability requirements. For the HOME assisted units, <br />information on unit substitution and filling vacancies shall be provided to ensure that <br />the project maintains the required unit mix. <br />The affordable rents charged at the Project must comply with the standards set forth by HUD <br />and California Tax Credit Allocation Committee (TCAC). Notwithstanding anything to the <br />contrary contained in these Restrictions or in the HOME Loan Agreement between the City <br />and Developer, in the event of a foreclosure, or delivery of a deed in lieu of foreclosure, of <br />any Senior Loan, then, other than for the two (2) HOME Assisted -Units, (1) the maximum <br />qualifying tenant household income shall be increased to 60% of Area Median Income <br />adjusted for family size appropriate to the unit, and (2) the maximum annual affordable rent <br />shall be increased to comply with the rent limits set forth by California Tax Credit Allocation <br />Committee (TCAC) for households at 60% Area Median Income. <br />Utility allowances must be deducted from the Maximum Gross Monthly Rent. The Housing <br />Authority of the City of Santa Ana publishes the Utility Allowance Schedule. <br />3of14 <br />