Laserfiche WebLink
9 . The Grantee will apply its stated method of continued program participation, including annual income <br /> certification and unit inspections, as documented in their Section 8 Housing Choice Voucher Program plan . <br /> 10 . Assisted units may be publicly or privately owned; however, units covered under a project-based rental <br /> assistance agreement or Public Housing Authority units are not eligible . Units in a project partially covered by a <br /> project-based rental assistance agreement are eligible, provided that there is not project-based assistance <br /> available for the unit in question. <br /> 11 . The Grantee will be required to inspect units at initial occupancy and certify to the Corporation that the unit <br /> meets minimum HUD Housing Quality Standards (HQS). <br /> 12 . Units in cooperative housing developments are ineligible for assistance under this Agreement. <br /> 13 . The landlord shall execute a Landlord Agreement to Participate and a Lease Addendum with the tenant. <br /> 14 . There is no requirement regarding the term of the lease, but subsidy payments to the landlord under the HOME <br /> TBRA program shall not exceed 12 months from the date of initial occupancy and in no event exceed the actual <br /> period of occupancy, if less than 12 months. The tenant shall be solely responsible for any damages caused by <br /> breaching the lease that exceed the security deposit. <br /> 15 . Rental assistance calculations may be prorated during the initial month. Leases should begin on the first day of <br /> the actual tenant occupancy. If the lease is executed for any day other than the first of the month, the Grantee is <br /> responsible for paying the prorated subsidy portion of the rent for that month from proceeds provided by the <br /> Corporation. <br /> 16 . Certain lease provisions are prohibited under the Regulations. These provisions are contained in the Lease <br /> Addendum which shall be executed by the landlord and tenant. <br /> 17 . The amount of rental assistance paid on behalf of an Eligible Household is limited to the difference between the <br /> established rent for the unit and thirty percent (30%) of the Eligible Household's gross monthly income. <br /> Example : $500 rent and $ 12,000 annual gross income would require a subsidy of: ($ 12,000/ 12 months) x <br /> .30 = $300 (tenant payment) <br /> $500 rent minus $300 tenant payment = $200 monthly subsidy <br /> Exclusions are permissible when calculating income, (e.g., dependents, disability, elderly, and child care). <br /> Utility allowances are permissible when calculating rent. <br /> 18 . Applicants whose subsidy calculations is less than $ 50 .00 per month is not eligible to receive TBRA. <br /> 19 . Applicants whose tenant calculations is less than $5 .00 per month is not eligible to receive TBRA. <br /> 20. The Grantee shall receive an initial $5 ,000 .00 advance for operating expenses . These funds may be used to pay <br /> for security deposits, utility deposits and the tenants ' initial month's pro-rated rent subsidy . The Grantee shall <br /> ensure that any security or utility deposit amount provided under this program must be refundable by the <br /> landlord to the Grantee not to the tenant. The Grantee may then elect to remit the recovered deposits to the <br /> tenant or use the funds to provide additional rental assistance in accordance with the Grantee's established <br /> operating procedures. Additional funds may be requested once the initial $5 ,000 .00 is committed or expended . <br /> Upon request of additional funds, the Grantee may be asked to submit proof to the Corporation of disbursement <br /> of the initial $5 ,000 .00 . The Grantee shall return all unused funds to the Corporation upon termination of this <br /> Agreement. <br /> 21 . In addition, the Grantee shall receive an administrative fee (the "Fee") of 10% of the funds drawn. Such HOME <br /> funds shall be used by the Grantee in accordance with the activities listed and budgeted herein. Administrative <br /> funds will be disbursed for actual costs incurred in the administration of this contract. Prior to payment of the <br /> Fee, the Grantee must submit to the Corporation the required documentation listed in Section 5 herein. <br /> Documentation that supports the utilization of administrative funds must be maintained. <br /> 22 . Issues not covered in this agreement are to be handled in accordance with HUD 24 CFR Part 92 . <br /> Florida Housing Finance Corporation Page 2 Attachment A (Rev. 09/06) <br />