25O - LOAN AGMTS ORANGE HOUSING - Laserfiche WebLink

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/,don,'iol/ 1'/</11 (or flit, n/lnc ,\1il/l/il' S/I'ed Project occupied unit, furniture storage, any temporary increase in monthly rent and utility connection charges. b. Households Relocated to Larger Apartments within the Project Any household required to move to a larger apartment unit within the Project to maintain compliance with state occupancy standards will receive compensation for reasonable out-of-pocket expenses related to the physical move and the re-connection of utilities, phone and cable service, etc. and a one-year rental assistance subsidy, as appropriate. The one-year subsidy amount will be the difference between the lesser of 30% of gross household monthly income or 105% of old rent subtracted from new rent. Any subsidy that results from application of the formula will be applied as a credit against the rent that would otherwise be charged for the new unit. The credit will be discontinued should the household choose to move from the Project prior to the expiration of the one-year subsidy period. 2. Summary All Project area residents will be personally informed in writing of their status as a temporary displacee. Each affected household will receive printed information concerning the benefits and assistance to which they may be entitled. Temporary displacees will be provided compensation for reasonable and necessary out-of-pocket expenses. All temporary displacement needs will be accommodated within the Project. Households moved to larger sized units to satisfy state occu pancy standards will receive compensation for physical moving expenses and a one-year subsidy applicable to the increase in monthly rent. The City will make timely payments to all eligible claimants. This may include, where necessary to avoid hardship, advance payments to help secure appropriate temporary replacement housing units. 1'1'1'/'</1'(''' /'.'1 ()7'('/'/</II", I','ri(i,' ,; ('1///,,,,, rile. I'IIXI' /2 250-20