|
This portion of the HOME and Other Affordable Housing Requirements section requires that you supply Other Affordable Housing Utility Allowances.
Some affordable housing programs (e.g., Low-Income Housing Tax Credits) include tenants' utility expenses in rents for affordable units. Therefore, to determine a project's income from an "other affordable unit," you must subtract the utility allowance from the total rent.
If your project uses affordable housing program funds besides HOME Program funds, consult the Federal, State, or local agency that administers the affordable housing program to learn whether utility allowances apply. Note that some affordable housing programs (e.g., the Community Development Block Grant) do not necessarily include utilities in rents for affordable units, sometimes making utility allowances unnecessary.
If other affordable housing utility allowances apply to your project, enter the monthly allowances in the fields provided. Otherwise, leave these cells blank.
|