HomeMy WebLinkAboutHousing Fellowship.pptThe Housing Fellowship
Site Location Review
FY2010 HOME/CDBG Funds
Affordable Rental - up to six homes
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CITY OF IOLVA CITY
TABLE OF INCOME GUIDELINES AND DEFINITIONS
Effective March 19, 2009 Community Development Block Grant (CDBG)
Effective April 27, 2009 Home Investment Partnerships Program (HOME)
Household
Size 30% Median Income
(Poverty Level) 50% Median
Income 60% Median
Income 80% Median Income
(low income) Median
Income
1 51 5,950 $26,600 531 ,920 542,550 553,200
2 518,250 530,400 536,480 548,650 560,800
3 520,500 534,200 541 ,040 554,700 568,400
4 522,800 538,000 545,600 560,800 576,000
5 524,600 541,050 x49,260 565,650 582,100
6 526,450 544,100 552,920 570,550 588,200
7 528,250 547,100 556,520 575,400 594,200
8 530,100 550,150 x60,180 580,250 5100,300
FAIR MARKET RENT
Effective October 1, 2009
Eff. 1 BDR 2 BDR 3 BDR 4 BDR
Rent' 5488 5582 5734 51069 51,251
' The total rent charged, including the utility allowance as provided by Iowa City Housing Authority (ICHA) for tenant paid utilities, cannot
exceed the fair market rent for any HOME assisted rental unit- Example: Tenant pays for electricity only and the allowance for electricity
(as calculated by the ICHA Utility Allowance Schedule) is 381. Rent for aone-bedroom unit cannot exceed $521 (3582 - 381)-
PC•3CilJ~i'tCnL IC-C._ 5"3 CSC
Existing Structure at 2500 Muscatine Ave.
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City of Iowa Clty -~~ /
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CDBG/HOME City-Assisted Rental Housing
and HUD Project-based Rental Housing
(Section 8 vouchers not Included)
January 2010 I !I
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The Housing Fellowship
Affordable Rental Housing
Longfellow Manor