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<br />INCOME LIMITS BY FAMILY SIZE <br /> <br /> 1 2 3 4 5 6 7 8 <br />Extremely 15,570 18,000 20,200 22,450 24,250 26,050 27,850 29,650 <br />Low (30%) <br />Very Low 26,200 29,950 33,700 37,450 37,450 43,450 46,450 49,450 <br />(50%) <br />HOME Limit 31,440 35,940 40,440 44,940 48,540 52,140 55,740 59,340 <br />(60% ) <br />Low Income 40,800 46,650 52,500 58,300 63,000 67,650 72,300 77,000 <br />(80%) <br /> <br />Rent terms to Beneficiary shall provide a monthly payment not to exceed 30% of <br />adjusted gross household income. Household income shall be reviewed annually by <br />Contractor and payments adjusted accordingly during the life of this agreement <br /> <br />5. <br /> <br />Maximum Per Unit Subsidy <br /> <br />Contractor shall cause HOME funds allocated to this project not to exceed the maximum <br />per unit subsidy amount as defined by HOME regulations. <br /> <br />MAXIMUM PER UNIT SUBSIDY <br /> <br />Unit Type Maximum per unit <br /> HOME Subsidv <br /> <br />Studio $ 74,340 <br />1 -bedroom $ 85,006 <br />2-bedroom $103,622 <br />3-bedroom $134,051 <br />4-bedroom $147,147 <br /> <br />6. <br /> <br />Affordability Restriction <br /> <br />The term of said affordability restriction shall be fifteen (15) years from date of this <br />agreement. <br /> <br />3 <br />