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WESTVIEW HOUSE L (9).P
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WESTVIEW HOUSE L (9).P
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Last modified
7/6/2022 12:16:52 PM
Creation date
7/6/2022 12:13:29 PM
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Contracts
Company Name
WESTVIEW HOUSE L.P
Contract #
A-2022-083
Agency
Community Development
Council Approval Date
5/17/2022
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and the rents must not exceed the Low HOME rents adjusted for family size appropriate to <br />the unit as published by HUD. <br />(e) Maximum Occupancy will be two (2) people per room plus one (1). <br />Example for a two -bedroom unit, five (5) people would be maximum occupancy. <br />(f) Rents for the HOME assisted units shall be governed by the HOME <br />Program regulations at 24 CFR section 92.252. <br />(g) Developer must have a written lease between tenant and owner for <br />a period of at least one year, unless a shorter period is mutually agreed upon. Leases must <br />be consistent with the HOME Program regulations at 24 CFR section 92.209(g). <br />7.2. Affordability Levels/Unit Mix: <br />The affordability levels/unit mix for the Project is as follows: <br />Unit Size <br />30% TCAC AMI <br />60% TCAC AMI <br />Total <br />No. <br />Units <br />Current <br />Rent <br />No. <br />Units <br />Current <br />Rent <br />1 Bedroom <br />23 <br />$756 <br />23 <br />2 Bedroom <br />3 <br />$908 <br />3 <br />3 Bedroom <br />21 <br />$1,049 <br />13 <br />$2,098 <br />34 <br />4 Bedroom <br />16 <br />$1,170 <br />8 <br />$2,341 <br />24 <br />Total <br />63 <br />21 <br />84 <br />The remaining unit will be a 2-bedroom unit reserved for the on -site manager. <br />HOME Assisted Units <br />Total # of <br />Level of <br /># of HOME <br />% Share of <br />Units <br />Unit Type <br />Affordability <br />Assisted <br />Unit Type <br />Units <br />23 <br />1 Bed <br />Very -Low <br />Income <br />(50% AMI) <br />(Low HOME) <br />3 <br />1.3% <br />3 <br />2 Bed <br />1 <br />33% <br />34 <br />3 Bed <br />3 <br />8 8% <br />24 <br />4 Bed <br />2 <br />8.3% <br />(1) In no event shall the rent charged to the HOME assisted units be more than that <br />annount of the Low HOME rent as published by HUD, as amended from time to time. <br />(2) At the time of project completion, the Developer shall provide to the City the address <br />aid/or unit number of each of the HOME floating units. <br />(3) Annually with the financial statements, the Developer shall provide an annual report <br />of rents and occupancy of all units, including the HOME assisted waits, to verify <br />compliance with affordability requirements. For the HOME assisted units, <br />15 <br />Westview House <br />City HOME Loan Agreement <br />
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