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Affordable Housing Cost minus the applicable Utilities Allowances. The 2014 <br />Affordable Housing Cost calculations and Utilities Allowances are presented in <br />Attachments E and F, respectively. <br />The Program Director will calculate the allowable rental rates based on the <br />standards imposed in the Project's Inclusionary Housing Agreement. In the case <br />of conflicts in the requirements imposed by the City and other funding sources <br />used to finance the Project, the most stringent requirement must be applied. <br />The Affordable Rents may be re- evaluated once annually based on changes in <br />the Gross Household Incomes (usually updated during the first quarter of each <br />year). Any changes in the rents charged for the Inclusionary Units must first be <br />approved in writing by the Program Director. The Property Owner, or property <br />manager, must provide a Notice of Rent Increase to each Household renting an <br />Inclusionary Unit. <br />A`fordable Rental Housing Administrative Procedures Page 14 <br />1407003.SNA August 8, 2014 <br />