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payment that is specifically designated for shelter and utilities. If you are paying little to <br />no rent for the City acquired dwelling, the Rental Assistance payment will be based on <br />"economic rent," which is rent typically charged for a comparable unit in your area. <br />Listed below are three "comparable replacement housing units" that you may wish to <br />consider: <br />Address <br />Rent & <br />Estimated <br />Utilities <br />Contact <br />2 <br />Current Total Gross Monthly Household Income <br />$ <br />3 <br />Ability -To -Pay Rent (30% of Line 2) <br />$ <br />4 <br />Rent for Comparable Replacement Dwelling ($) + ($) Utilities <br />$ <br />Based on the above list of comparable housing units, the unit located at (address) is the most <br />representative of your present home. Based on the information you have provided about your <br />income and /or present rent, you may be eligible for a rental assistance payment of up to $00. If <br />you rent a decent, safe and sanitary home where the monthly rent and average estimated utility <br />costs are less than $00, your rental assistance payment will be based on the actual cost of such <br />unit. If you rent and occupy a replacement unit for more than the comparable dwelling of $00, <br />your rental assistance payment will be limited by the cost of the comparable dwelling. <br />Calculations are based on information you provide to us, including your current rent, income <br />information, and the comparable rent as described above. Failure to supply adequate income <br />information may result in a delay or denial of benefits based on income. Rental assistance <br />benefits are paid in at least two installments, consisting of an advance and a final payment. <br />Based on the information you provided and the comparable rent as listed below, your estimated <br />rental assistance payment calculation is as follows: <br />1 <br />Current Rent ($00) + Utility allowance ($00) <br />$ <br />2 <br />Current Total Gross Monthly Household Income <br />$ <br />3 <br />Ability -To -Pay Rent (30% of Line 2) <br />$ <br />4 <br />Rent for Comparable Replacement Dwelling ($) + ($) Utilities <br />$ <br />5 <br />Lower of Current Rent OR Ability -To -Pay <br />$ <br />6 <br />Monthly Rental Need (Line 4 minus Line 5) <br />$ <br />7 <br />Estimated Total 42 Months Eligibility (Line 6 times 42) <br />$ <br />B. If you BUY replacement housing, you may file a claim for: <br />DOWN PAYMENT ASSISTANCE - You may use the full amount of your rental <br />assistance payment for a down payment and incidental purchase expenses on a <br />replacement dwelling. All amounts used as a down payment and incidental expenses <br />must be applied to the purchase of the replacement dwelling. If you have received any <br />amount as rental supplements, then those amounts will be deducted from all eligible <br />down payment calculations. <br />44 <br />55D -51 <br />