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One -Bedroom 30% AMI 5 <br />One -Bedroom 60% AMI 9 <br />Studio Manager Unit 1 <br />C. At initial lease up, households in the HOME assisted units cannot earn more than <br />50% of AMI, however existing tenants at the Property who are otherwise eligible under <br />the HOME Program may continue their tenancy at the Property. Rental increases shall be <br />in conformance with federal and state law. After the fifteen (15) year HOME compliance <br />period, the City shall require that the units remain affordable, with rents calculated based <br />on assumed household size at the same income levels <br />D. All of the HOME units will be restricted to occupancy by fifty percent (50%) of the <br />Area Median Income (AMO. Current residents whose incomes exceed eighty percent (80%) <br />of the AMI will be increased to either thirty (30%) percent of their monthly household <br />income or market rent for the neighborhood, whichever is lower. <br />E. Maximum Occupancy will be two (2) people per room plus one (1). Example for a two <br />bedroom unit, five (5) people would be maximum occupancy. <br />F. Affordable rents shall be governed by California Health and Safety Code Sections <br />50052.5 and 50053(b)(2), and as provided in the HOME Regulations 24 CFR section 92.2. <br />G. Developer must have a written lease between tenant and owner for a period of at least <br />one year, unless a shorter period is mutually agreed upon. Leases must be consistent with <br />HOME Regulations 24 CFR section 92.209(g). <br />H. Rents During Construction/Rchabilitation: <br />(a) All HOME units shall be charged not more than the Low HOME rent, as <br />amended from time to time (currently $914.00 for a one -bedroom unit and $853 for a studio <br />unit). <br />7.2 Affordable Gross Starting Rents (Less Reasonable Utility AlloNvanee): Initial <br />rents may be recalculated to allowable rental amounts at the time of initial lease -up <br />following completion of construction in accordance with any changes in allowable <br />rent and income tables as published by HND. Affordable rents for non -HOME <br />assisted units will be based on the rents published annually by California Tax Credit <br />Allocation Committee (ICAC). <br />A. HOME Assisted Units <br /># of Units Max Gross Monthly Rent <br />Veiy Low Studio 4 $ 853 <br />1 Bedroom 5 $ 914 <br />14 <br />