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Res18 15644
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Res18 15644
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Last modified
10/11/2019 7:58:05 AM
Creation date
10/11/2019 7:57:54 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
2/12/2018
Description
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING A LOAN IN THE AMOUNT OF $1, 100, 000 FROM THE AFFORDABLE HOUSING FUND IN CONNECTION WITH THE REFINANCING OF PROPERTY LOCATED AT 3752-3770 ROLISON ROAD FOR AFFORDABLE HOUSING PRESERVATION; APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE RELATED LOAN DOCUMENTS; AND AUTHORIZING THE CITY MANAGER TO TAKE ALL OTHER NECESSARY ACTIONS
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Income and Rent Sources and Nobs <br />Median Family Income (MFI) Limits and Area Median Income (AMI) limits for San Mateo County are published annually by the U.5 <br />Department of Housing & Urban Development (HUD) and the State of California Department of Housing and Community <br />Development (HCD). The HUD published income and rent limits are effective April 14, 2017 and NCD published income and rent <br />limits are effective June 9. 2017. <br />HOME published income and rent limits are effecnve April 11, 2017 <br />Maximum affordable rent is based on 30% of monthly income with all utilities paid by landlord. The Utility Allowances established by <br />the County of San Mateo Housing Authority are used by the City of Redwood City for determining tenant -paid utility allowances. If <br />tenant pays utilities then the Utility Allowance must be subtracted from the maximum rent so that rent plus tenant paid utilities <br />does not exceed the maximum rent. <br />Maximum affordable rents are calculated based on HUD and HCD Income Limits and the following household sizes <br />Studio: 1 person <br />1 -Bedroom: 15 persons <br />2-Bedrcom:3 persons <br />3 -Bedroom: 4.5 persons <br />4 -Bedroom: 6 persons <br />Please contact the City of Redwood City Housing Staff for any questions regardingthe income limits or rents that apply to your units <br />at 650-780-7234. <br />Updated 6/23/2017 <br />ATTY/AGR/2018.027/MID PEN MOSIAC GARDENTS (ATHERTON COURT) <br />REV: 02-06-1815 <br />Page 41 of 41 <br />
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