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<br />80 <br />Page 21 <br /> <br />Consistent with this distribution of needed units, the Agency's minimum required allocation for <br />very Jow- and low-income expenditures, and maximum moderate-income housing expenditures <br />are as follows: <br /> <br />Very Low Income <br />Low Income <br />Moderate Income <br /> <br />At least 39% <br />At least 28% <br />No more than 33% <br /> <br />The Very Low and Low income allocations are significantly higher than in the prior RHNA (which <br />required 37% VL and 18% Low). The Agency is entitled to expend a disproportionate amount of <br />funds for very low-income households, and to subtract a commensurate amount from the low- <br />and/or moderate-income thresholds. Similarly, the Agency can provide a disproportionate <br />amount of funding for low-income housing by reducing the amount of funds allocated to <br />moderate-income households. In no event can the expenditures targeted to moderate-income <br />households exceed the established threshold amount. <br /> <br />Over the remaining 10-year compliance period, the Agency will expend its Low/Moderate <br />income housing set-aside fund proportionate to these target income requirements. <br /> <br />b. Proportionality by Age <br /> <br />The age restriction proportionally test requires that the maximum percentage of set-aside funds <br />that an Agency can allocate to senior housing is limited to the percentage of very low income <br />households within the City that are 65 years of age or older, as reported by the modest recent <br />census of the U.S. Census Bureau. According to Census 2000, the City's low income household <br />breakdown is as follows: <br /> <br />Low Income Households Under 65 Years <br />Low Income Households over 65 Years <br /> <br />7,826 <br />3,140 <br /> <br />71.4% <br />28.6% <br /> <br />To date, none of the homes assisted by the Agency is age restricted. The only age-restricted <br />units that the Agency contemplates assisting at this time are the 50 to 76 Bradford units. Over <br />the planning period. the Agency will expend a greater proportion of its Housing Funds on non- <br />age restricted projects than the minimum requirement of 71.4%. <br /> <br />Keyser Marston Associates, Inc. <br />\\Sf-fs1\wp\18\1861 0\1861 0.005\002-002.doc; 1/17/2008 <br /> <br />Page 15 <br />