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(g) For all Restricted Units, Developer must have a written lease <br />between tenant and owner for a period of at least one year, unless a shorter period is <br />mutually agreed upon. All leases must be consistent with the applicable laws and <br />regulations, including the HOME -ARP Program for the HOME -ARP Units. <br />7.2. Affordability Levels/Unit Mix: <br />(a) All Restricted Units in the Property will be studios, except the one <br />(1) manager unit will be a 2-bedroom unit reserved for the on -site manager. <br />(b) Except as set forth in sub -paragraph (c) of this Section 7.2, the <br />allowable rent for the Restricted Units in the Project shall not exceed the Affordable Rent <br />for an Extremely Low Income Household as follows: <br />Unit Size <br />30% TCAC AMI <br />No. <br />Units <br />Current <br />Rent <br />Studio <br />47 <br />$711 <br />Total <br />47 <br />The remaining unit will be an unrestricted 2-bedroom unit reserved for the on -site manager. <br />(c) During the HOME -ARP Compliance Period, the allowable rent for <br />HOME -ARP Units in the Project shall not exceed the lesser of: (a) 30% of the tenant's <br />actual household income (inclusive of Supplemental Security Income (SSI) / State <br />Supplementary Payment (SSP) payments); or (b) the Low HOME Rent in accordance with <br />the HOME -ARP Program. The number of HOME -ARP Units and allowable rent shall be <br />as follows: <br />HOME -ARP Units <br /># of HOME- <br />HOME -ARP <br />Maximum <br />ARP Units <br />Restriction <br />Allowable Rent <br />HOME -ARP <br />16 Studio Units <br />Qualifying <br />Low HOME Rent <br />Population <br />(i) At the time of project completion, the Developer shall provide <br />to the City the address and/or unit number of each of the units initially designated as <br />the HOME -ARP Units. <br />(ii) Annually with the financial statements, the Developer shall <br />provide an annual report of rents and occupancy of all Restricted Units, including the <br />HOME -ARP Units, to verify compliance with affordability requirements. For the <br />17 <br />WISEPIace Permanent Supportive Housing <br />City HOME -ARP Loan Agreement <br />