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By-Right Funding for Housing <br />3. <br />◦ <br />Developer may submit an application for by-right funding <br />for housing <br />◦ <br />Project must be located in a zone designated as “by-right” <br />for housing development <br />◦ <br />Only units serving households at 30% Area Median Income <br />or below may qualify <br />◦ <br />The maximum per unit subsidy shall not exceed the <br />maximum per unit subsidy limits set by HUD for the HOME <br />Program <br />◦ <br />Only applies to local funds (e.g. Inclusionary Housing <br />Funds) because all Federal Funds must go through a federal <br />procurement process. <br />6 <br /> <br />