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15 <br />Westview House <br />City HOME Loan Agreement <br />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 /> <br />Unit Size <br />30% TCAC AMI 60% TCAC AMI <br />Total No. <br />Units <br />Current <br />Rent <br />No. <br />Units <br />Current <br />Rent <br />1 Bedroom 23 $756 23 <br />2 Bedroom 3 $908 3 <br />3 Bedroom 21 $1,049 13 $2,098 34 <br />4 Bedroom 16 $1,170 8 $2,341 24 <br />Total 63 21 84 <br /> <br />The remaining unit will be a 2-bedroom unit reserved for the on-site manager. <br /> <br /> <br />HOME Assisted Units <br /> <br />Total # of <br />Units Unit Type Level of <br />Affordability <br /># of HOME <br />Assisted <br />Units <br />% Share of <br />Unit Type <br />23 1 Bed Very-Low <br />Income <br />(50% AMI) <br />(Low HOME) <br /> <br />3 1.3% <br />3 2 Bed 1 33% <br />34 3 Bed 3 8.8% <br />24 4 Bed 2 8.3% <br /> <br />(1) In no event shall the rent charged to the HOME assisted units be more than that <br />amount 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 />and/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 units, to verify <br />compliance with affordability requirements. For the HOME assisted units, <br />EXHIBIT 3