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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 (501/o) 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 92.252. <br />F. Rents During Construction/Rehabilitation: <br />(a) All HOME units shall be charged the Low HOME rent, as amended from time to <br />time (currently $978 for One -Bedroom unit). <br />3.2 Affordable Gross Startine Rents (Less Reasonable Utility Allowanee): Initial rents <br />may be recalculated to allowable rental amounts at the time of initial lease -rip following <br />completion of construction in accordance with any changes in allowable rent and income <br />tables as published by IND. Rents for non -HOME assisted units will be based on the rents <br />published annually by California Tax Credit Allocation Cormnittee (TCAC). <br />A. HOME Assisted Units <br /># of Units Max Gross Monthly Reny <br />Very Low 1 Bedroom 10 $ 978 <br />(1) In no event shall the rent charged to the tenant of the HOME assisted units be <br />more than that amount of the low rent as published by HUD, as amended from time to <br />time. <br />(2) Utility allowances must be deducted from the Maximum Gross Monthly Rent. <br />The Housing Authority of the City of Santa Ana publishes the Utility Allowance <br />Schedule. <br />(3) At the time of project completion, the Developer shall provide to the City the <br />address and/or unit number of each of the HOME assisted units. <br />(4) Annually with the financial statements, the Developer shall provide an annual <br />report of rents and occupancy of assisted units, including HOME -assisted units, to <br />verify compliance with affordability requirements. For the HOME units, information <br />on unit substitution and tilling vacancies shall be provided to ensure that the project <br />maintains the required unit mix. <br />3of12 <br />