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C;, At initial lea e up, howehdnl(k in the I 10MEassisted an its, catnaot uarrn More e duln <br />50% of AaNI1, however existing tenants at the Property who are otherwise eli,gil le under <br />the I IOME Program may continue their tenancy at the prcnlieity. 1CenWl iticauaases shall be <br />in conformance with federal and stalu Maw filler Ilae fifteen (15) year I IOME compliance <br />period, the C"oty shall require that tho u:aiaifls remain affordable. with rents calculated based <br />on as,sumud household sire at the sanac ineruaae levels, as rucltnred by [lie C alil`ha tmi Health <br />iii Safety Code. <br />D. All oNlac HOME uonis will lie resfricicxd to occupancy by frf "ty p ercent (WI 1,1) rat the ArQa <br />Median income (AM]). Current residents whose. Incomes exceed uighty perccrot (fl(l%) of the <br />AMI ww M be allowed to remain. Dents lbr the-;u hou"'eholds will lie increased to either thirty <br />(3011/u) percetat of their monthly' household inome or market reap for the neighborhood, <br />wahi heverislower, <br />E. Affiordable rents shall he governed by C"alillinnua Health and Satfcty Codc Sections <br />50052.5 and 50053(b)(1), and as provided in the HOMh, IC.egulatiaons 24 C R .section 92.2.. <br />Cteuts IDunit1 Con <br />(a) Alt l,IC:D,ML uni,its slaaall bc, c;laangud tlac L.anw 11C�)'Mh rvazt, aus anavc;taclecl fioraa t nac zct <br />Banc. (cmentl,y $914 for unc- beAclreooara taidt mid 585:3 @air a studio unit). <br />3,2 AfTordahle Gross titaxrthi m Rents Less Reasonable Utility Allowance): lnirtial rents <br />may be recalculated to al➢owable rental amounts at the lime ol'nntnal leawe up Rallowing <br />completion of mistruaction it) accordlancc with any changes iii allowable rent and income <br />taalales as prtalaltslnu.cl try Hf.fT�. ldeuts [i:ron-naiao 11C)M�' xx;.ststecd as.nits w +il1 l7u bascel ocu tluo rcrats <br />pubinslaud annually by C'alilbrrnia faax C'reilil Allocation Committee (I 'C'AC')• <br />A. 11()`u'1 C Assiste d Units <br />tt ofUnJts Max Gross mullfh <br />Rent <br />Very Low Studio 2 $ 'c8.5 3 <br />1 Bedroom 7 S 914 <br />(1) In no event shall the rent changed to the tenaw of'the HOME aissisted <br />Units be anaare than that aarntaunt ol'Ihe hiw uvut aas publislued by 11111 ?. as animcled <br />from rttnic to mile (2) hltiWy allowmic4eS must becluxluctcdf frootn the Malxiinum Gros -i <br />Mooalhly fCeaii.. "l'hc housing Authority ofthe City ofSanta Aqua pubhtihcs the Utility <br />Allowance Schedule. <br />(3) At the tinge of project complctioan, the Developer shall provide tai the City the <br />address .andlear unit aaatrnbur ool each olthe 110Mlu floating units. <br />(4) Amiva ly with fie financial statements, the Developer shall provide an amittat <br />a-epotl of rent"', and occupancy of assisted mints, toauhaclinag HOME-assisted units, to <br />verify compliance with aflirrclability redtuira;txtents. For the l lCalwtl 1 units, in Formation <br />2N'84 <br />