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Terri Eggers /Judson Brown, City of Santa Ana <br />Bewley Street —Preliminary Financial Gap Analysis <br />ACHIEVABLE RENTAL INCOME <br />EXHIBIT 2 <br />June 221 2023 <br />Page 8 <br />The Project's rents must adhere to the most restrictive of the requirements imposed by <br />the funding sources. The rents in this analysis are based on 2022 information published <br />by HUD and HCD. The maximum allowable rents, net of the appropriate utility <br />allowances, are estimated as follows:' <br />1- 2- <br />Bedroom Bedroom <br />Rent Restriction — TAY Units Units Units <br />30% MTSP AMI / 30% SSI (PSH) <br />Number of Units <br />2 <br />6 <br />30% MTSP AMI Rent <br />$728 <br />$864 <br />30% SSI Rent <br />$306 <br />$289 <br />Applicable Rent <br />$306 <br />$289 <br />3- <br />Bedroom <br />Rent Restriction — Shared Housing Senior Units Units <br />50% MTSP AMI / 30% SSI (PSH) <br />Number of Units <br />2 <br />50% MTSP AMI Rent — Three -Bedroom Unit <br />$1,694 <br />1/3 of 50% MTSP AMI Rent <br />$565 <br />30% of SSI for Studio Unit <br />$313 <br />Applicable Rent <br />Per Bedroom <br />$313 <br />Per Three -Bedroom Unit <br />$939 <br />4 Per the Developer, tenants will only pay for electricity. The basic electric utility charge as published by <br />the Housing Authority on October 1, 2022 is estimated at: $27 for shared housing bedrooms; $34 for one - <br />bedroom units; and $51 for two -bedroom units. <br />2306002v3.SA.TRB <br />19090.018.028 <br />