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D. The maximum incomes of residential tenants eligible to rent the Units shall be <br />determined on the basis of the Area Median Income ("AMP') for the Orange County, California <br />PMSA, published approximately annually by the United States Department of Housing and <br />Urban Development ("HUD"). <br />E. Affordable rents charged to tenants shall be governed by the HOME Regulations 24 CFR <br />section 92.2. <br />7.2 Affordability Levels/Unit Mix: <br />The proposed unit mix, initial rents, and levels of affordability are as follows: <br />The remaining unit will be a 2 -bedroom unit reserved for the onsite manager. <br />HOME Assisted Units <br />Unit Type <br />30% AMI <br />35% AMI <br />40% AMI <br />60% AMI <br />Total # of Units Description/No <br />Unit Size <br />No. Rent <br />Units <br />NO' Rent <br />Units <br />No. Rent <br />Units <br />No. Rent <br />Units <br />Total <br />1 Bedroom <br />14 $587 <br />6 $685 <br />6 $783 <br />26 <br />2 Bedroom <br />2 $704 <br />--- <br />--- --- <br />12 $1,408 <br />14 <br />3 Bedroom <br />4 $813 <br />--- <br />--- --- <br />13 $1,627 <br />17 <br />Total <br />20 <br />6 <br />6 <br />25 <br />57 <br />The remaining unit will be a 2 -bedroom unit reserved for the onsite manager. <br />HOME Assisted Units <br />Unit Type <br />Total # of Units Description/No <br />No. of BRs <br />Level of <br /># of HOME <br />HOME Share of <br />Affordability <br />Assisted Units <br />Unit Type <br />tes <br />26 1 Bed <br />1 <br />30% AMI <br />5 <br />19.23% <br />14 2 Bed <br />2 <br />2 <br />14.29% <br />17 3 Bed <br />3 <br />4 <br />23.53% <br />(1) In no event shall the rent charged to the HOME assisted units be more than that amount of the <br />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 and/or <br />unit number of each of the HOME floating units. <br />(3) Annually with the financial statements, the Developer shall provide an annual report of rents <br />and occupancy of all assisted units, including the HOME -assisted units, to verify compliance <br />with affordability requirements. For the HOME assisted -units, information on unit substitution <br />and filling vacancies shall be provided to ensure that the project maintains the required unit <br />mix. <br />The affordable rents charged at the Project must comply with the standards set forth by California <br />Tax Credit Allocation Committee (TCAC). Notwithstanding anything to the contrary contained in <br />this Agreement, the Affordability Restrictions on Transfer of Property, and other than HOME <br />assisted units, restricted (as to both income and rent levels) at 30% of AMI, in the event of a <br />foreclosure, or delivery of deed in lieu of foreclosure, of any Senior Loan, then the (1) the <br />maximum qualifying tenant household income shall be increased to 60% of Area Median Income <br />55C-145 <br />