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�! <br /> Agency Housing Fund Expenditure Targets by Income Level <br /> Very Low Low Moderate <br /> 2002-2014 Income Income Income Total <br /> Proportionate Af least 37% At least 18% No more than 46% <br /> Target <br /> Target $14,222,000 $6,818,000 $17,577,000 $38,617,000 <br /> Appropriation of <br /> Housing Fund <br /> Projected $14,955,000 $7,416,000 $16,246,000 $38,617,000 <br /> Expenditure of <br /> Housing Fund <br /> b. Proportionality by Age <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 residents within the <br /> City that are 65 years of age or older, as reported by the modest recent census of the U.S. <br /> Census Bureau. According to Census 2000, the City's population breakdown is as follows: <br /> Under 65 Years Old 67,611 89.7% <br /> 65 Years and Older 7,791 10.3% <br /> In order to meet the age restriction proportionality test requirements, an estimated 89.7% of the <br /> Housing Fund project and program, or approximately $34.6 million befinreen 2002 and 2014, is <br /> the targeted expenditure allocation for non-age restricted housing. The Agency's actual and <br /> projected expenditures for non-senior housing are estimated to slightly exceed this requirement, <br /> with estimated expenditures at $35.1 million. <br /> Keyser Marston Pssociates, Inc. <br /> 18610.001 \030-003; 12/6/2004; DRAFT <br /> 30 <br />