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<br />15 <br />The Crossroads at Washington <br />City HOME Loan Agreement <br />assisted units. The HOME assisted units shall be six (6) 2-bedroom units, four (4) 3- <br />bedroom units, and two (2) 4-bedroom unit, fixed, and shall be distributed throughout the <br />complex with comparable amenities to the other units. The County’s HOME assistance <br />shall require forty-three (43) HOME assisted units. In total, there will be fifty-five (55) <br />HOME assisted units in the Project. There shall not be any overlap between the County’s <br />HOME assisted units and the City’s HOME assisted units. <br />(c) At initial lease up, households in the HOME assisted units cannot <br />earn more than the Very-Low Income limits (50% of AMI) as published by HUD in <br />compliance with the HOME Program. Rental increases shall be in conformance with <br />federal and state law. After the twenty (20) year HOME Compliance Period, the City shall <br />require that the HOME assisted units remain affordable, with rents calculated based on <br />assumed household size at the same income levels. <br />(d) All of the HOME units will be restricted to occupancy by families <br />earning at initial lease up no more than the Very Low income limits (50% of AMI) as <br />published by HUD, and the rents must not exceed the Low HOME rents adjusted for family <br />size appropriate to 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 /> <br />Unit Size <br />30% TCAC AMI <br />No. <br />Units <br />Current <br />Rent <br />Studio 16 $711 <br />1 Bedroom 26 $762 <br />2 Bedroom 21 $915 <br />3 Bedroom 17 $1,057 <br />4 Bedroom 5 $1,179 <br />Total 85 <br /> <br />The remaining unit will be a 2-bedroom unit reserved for the on-site manager. <br /> <br />HOME Assisted Units <br /> <br />EXHIBIT 5