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EXHIBIT 1 <br />For multi -family rental housing, at least 51% of the units must be occupied by low- or <br />moderate -income households. Qualified households must have incomes at or below <br />80% of the AMI. All CDBG-assisted rental units must bring the properties up to local <br />codes and standards. The City monitors rental units through on-site physical <br />inspections, review of tenant files and programmatic requirements, and annual reports. <br />Allocation of funds must go through a competitive RFP process per 24 CFR PART 85 <br />Administrative Requirements for Grants. <br />Project -Based Voucher (PBV) Funds: <br />Project -based vouchers are a component of a public housing authority's (PHA) Housing <br />Choice Voucher Program. A FHA can attach up to 20 percent of its voucher assistance <br />to specific housing units if the owner agrees to either rehabilitate or construct the units, <br />or the owner agrees to set-aside a portion of the units In an existing development. <br />Funding for project -based vouchers comes from funds already obligated by HUD to a <br />PHA under its annual contributions contract (ACC). The PHA can use up to 20 percent <br />of its housing choice vouchers for project based vouchers. <br />Under the tenant -based Housing Choice Voucher Program, the PHA Issues an eligible <br />family a voucher and the family selects a unit of its choice. If the family moves cut of the <br />unit, the contract with the owner ends and the family can move with continued <br />assistance to another unit, Under the project -based voucher program, a PHA enters <br />into an assistance'contract with the owner for specified units and for a specified term. <br />The PHA refers families from Its waiting list to the project owner to fill vacancies. <br />Because the assistance is tied to the unit, a family who moves from the project -based <br />unit does not have any right to continued housing assistance. However, they may be <br />eligible for a tenant based voucher when one becomes avallable. Allocation of funds <br />must go through a competitive RFP process per 24 § 983.51. <br />FOODMIKII <br />