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Item HA-3 - Third Amendment to the Joseph House Loan Agreement and Affordable Housing Covena_20240530010613414
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Item HA-3 - Third Amendment to the Joseph House Loan Agreement and Affordable Housing Covena_20240530010613414
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5/30/2024 4:30:08 PM
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5/29/2024 6:16:03 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
HA-3
Date
6/4/2024
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EXHIBIT 1 <br />Modified Unit Configuration <br />Unit No. <br />Bedroom <br />No. <br />Tenants per Room <br />Populatio <br />n Served <br />Maximum <br />Rent <br />Allowable <br />Rent Charged <br />Unit 1* <br />Bedroom 1 <br />1 tenants <br />Single Male <br />$1,256.00 <br />$468.00 <br />Bedroom 2 <br />2 tenants <br />Single Male <br />$628.00/person <br />$385.00 per person <br />Bedroom 3 <br />1 tenant <br />Single Male <br />$1,256.00 <br />$468.00 <br />Unit 2* <br />Bedroom 1 <br />2 tenants <br />Single Male <br />$695.75/person <br />$385.00 per person <br />Bedroom 2 <br />2 tenants <br />Single Male <br />$695.75/person <br />$385.00 per person <br />Unit 4 <br />2-bedrooms <br />Household max of 5 <br />Family <br />$2,783.00 <br />$2,783.00 <br />Notes: <br />*Unit will convertto serving famities upon tenant attrition <br />Unit 1: Based on prevailing 2024 FMR rate for 3-bedroom Unit in Orange County at $3,769/month. <br />Unit 2 and 4: Based on prevailing 2024 FMR rate for 2-bedroom Unit in Orange County at $2,783/month. <br />Rents for tenants with vouchers would follow applicable payment standard set by the Housing Authority. <br />
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