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C. At initial lease up, households in the HOME assisted units cannot earn more than <br />50% of AMI, however existing tenants at the Property who are otherwise eligible under <br />the HOME Program may continue their tenancy at the Property, Rental increases shall be <br />in conformance with federal and state law. After the fifteen (15) year HOME compliance <br />period, the City shall require that the units remain affordable, with rents calculated based <br />on assumed household size at the same income levels, as required by the California Health <br />& Safety Code. <br />D. All of the HOME units will be restricted to occupancy by fifty percent (50 %) of the Area <br />Median Income (AMI). Current residents whose incomes exceed eighty percent (80 %) of the <br />AMI will be allowed to remain. Rents for these households will be increased to either thirty <br />(30 %) percent of their monthly household income or market rent for the neighborhood, <br />whichever is lower. <br />E. Affordable rents shall be governed by California Health and Safety Code Sections <br />50052.5 and 50053(b)(1), and as provided in the HOME Regulations 24 CFR section 42.2, <br />F. Rents During Constxuction/Rehabilitation: <br />(a) All HOME units shall be charged the Low HOME rent, as amended from time to <br />time (currently $ for - bedroom unit and <br />$ for a unit). <br />3.2 Affordable Gross Starting Rents (Less Reasonable Utility Allowance): Initial rents <br />maybe recalculated to allowable rental amounts at the time of initial lease -up following <br />completion of construction/rehabilitation in accordance with any changes in allowable rent <br />and income tables as published by HUD. Rents for non -HOME assisted units will be based <br />on the rents published annually by California Tax Credit Allocation Committee (TCAC). <br />A. HOME Assisted Units <br />Rent <br /># of Units <br />Max Gross Monthly <br />Low Studio <br />$ <br />1 Bedroom <br />$' <br />2 Bedroom <br />$ <br />_ <br />3 Bedroom _ <br />$ <br />4 Bedroom <br />$ _ <br />5 Bedroom <br />$ <br />(1) In no event shall the rent charged to the tenant of the HOME assisted <br />units be more than that amount of the low rent as published by HUD, as amended <br />from time to tune. (2) Utility allowances must be deducted from the Maxim= Gross <br />Monthly Rent. The. Housing Authority of the City of Santa Ana publishes the Utility <br />Allowance Schedule. <br />3of12 <br />25C -88 <br />