Maloney - Allston Brighton CDC Portfolio AB CDC

20 units 15 Subsidized; 5 Market.
Internal transfers will be completed to correct under/overhoused situations or to permit existing qualified residents to obtain project based subsidy prior to utilizing the external wait list.
A % of the total units must be leased to 50% and 60% AMI, so vacancies may be billed in an unusual order depending on applicant income level. 2002 Affordable Housing Agreement: Dated: 2/22/02 for 15 years at least 12 units rented to households below 50% AMI at least 3 units rented to households below 60% AMI. Rent charged not to exceed 30% of the applicable income limit. 2003 Affordable Housing Agreement through Mass Housing Partnership (MHP) . Dated: 3/21/03 - 11/30/22 at least 4 units rented to households with incomes at or below 50% of AMI. at least 8 units rented to households with incomes at or below 60% of AMI or 10 units rented to households below 80% of AMI. Notwithstanding the foregoing minimum occupancy requirement, upon execution of the agreement: 2 units rented to formerly homeless with income under 30% of AMI. 10 units rented to households with income under 50% of AMI. 3 units rented to households with income under 60% of AMI. Rent charged not to exceed 30% of the applicable income limit. Department of Housing and Community Development (DHCD) Home Term: 2/22/02 for 30 years 6 2-bed and 5 3-bed = 11 units. 3 units for households at or below 50% of AMI (Low Home). 8 units for households at or below 60% of AMI (High Home) - Rent charged for the Low Income households (High Home) not to exceed the lesser of fair market rent or an amount equal to 30% of the monthly income of a household whose gross income is 65% of the AMI - Rent charged for the Very Low Income Households (Low Home) not to be greater than 30% of the household's monthly adjusted income unless the household receives a project based subsidy. If the household has a project based subsidy the maximum rent is the rent allowable under the subsidy. Federal Home Loan Bank Affordable Housing Program (AHP) - 12 units at or below 50% of AMI - 3 units at or below 60% of AMI - 5 units at or below 80% of AMI (the ""market"" units). Homeless Set Aside through the Department of Neighborhood Development (DND) 2 units 05 11. Low Income Housing Tax Credit (LIHTC) 99 year restriction 15 units at or below 60% of AMI (9 2-bed and 6 3-bed) of which 2 units are at or below 40% of AMI. Rent charged not to exceed 30% of the income limitation applicable to the unit. If the household income for a tenant in a qualified tax credit unit increases to more than 140% of the current applicable income level, the unit is considered an ""over income unit"" but may continue to be counted as LIHTC as long as the unit continues to be rent restricted AND the next comparably sized or smaller unit in the building is rented to a qualified low-income household. Massachusetts Housing Finance Association 5 units rented to Low Income household. will accept referrals from BHA and will not reasonably refuse occupancy to any prospective tenants referred. Unit 1 is accessible for mobility, hearing, or visual impairment