Maximum Allowable Income by tel17304

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									                                                 EXHIBIT 1

                    YEAR 2000 MAXIMUM ALLOWABLE INCOME LEVELS
                          For Affordable Housing Developed Under
                       Ordinance 1615 CCS and Ordinance 1918 CCS
                          By Household Size and Income Category



    INCOME CALCULATION: (Median Income X Income Category X Hhld Adjustment Factor)


                  Median Income Year 2000: $52,100                   "4 - PERSON


                                        HOUSEHOLD ADJUSTMENT FACTOR

                                          1-person                  0.7000
                                          2-person                  0.8000
                                          3-person                  0.9000
                                          4-person                  1.0000
                                          5-person                  1.0800
                                          6-person                  1.1600
                                          7-person                  1.2400
                                          8-person                  1.3200




                        MAXIMUM ALLOWABLE INCOME LEVELS (ANNUAL)


                                       Very Low                      Low
     Household Size                      50%                         60%           Moderate
        1-Person                        $18,235                     $21,882         $36,470
        2-Person                        $20,840                     $25,008         $41,680
        3-Person                        $23,445                     $28,134         $46,890
        4-Person                        $26,050                     $31,260         $52,100
        5-Person                        $28,134                     $33,761         $56,268
        6-Person                        $30,218                     $36,262         $60,436
        7-Person                        $32,302                     $38,762         $64,604
        8-Person                        $34,386                     $41,263         $68,772


f:/.../staffrpt/exhibits/0b27efa9-ea8d-4db0-945e-9da0a7c1ab89.xls                             3/8/2011
                                               EXHIBIT 2

                     YEAR 2000 MAXIMUM ALLOWABLE RENTS
                      For Affordable Housing Developed Under
                    Ordinance 1615 CCS and Ordinance 1918 CCS
                         By Income Category and Unit Size



MONTHLY RENT CALCULATION:
 (Median Income X Income Category X Bedroom Adjustment Factor X Affordability Standard) / 12

     Median Income Year 2000: $52,100                           "4 - PERSON HOUSEHOLD"

     Affordability Standard :              30%


                                                Bedroom Adjustments:
                                            0-Bdrm                     0.700
                                            1-Bdrm                     0.800
                                            2-Bdrm                     0.950
                                            3-Bdrm                     1.085
                                            4-Bdrm                     1.225




                       MAXIMUM ALLOWABLE RENTS (MONTHLY)



                            Very Low                        Low                Moderate
         Unit Size            50%                           60%                  100%
         0-BDRM               $456                          $547                 $912
         1-BDRM               $521                          $625                $1,042
         2-BDRM               $619                          $742                $1,237
         3-BDRM               $707                          $848                $1,413
         4-BDRM               $798                          $957                $1,596



   f:\...\staffrpt\exhibits\0b27efa9-ea8d-4db0-945e-9da0a7c1ab89.xls                           3/8/2011
                                                         EXHIBIT 3
                      YEAR 2000 MAXIMUM ALLOWABLE PURCHASE PRICES
                         For Inclusionary Housing Units Developed Under
                                       Ordinance 1615 CCS
Median Income (Year 2000)                         $  52,100
Affordability Standard                                  30%
Interest Rate                                        8.155%
Term (months)                                            360
Unit                                              Unadjusted           0 Bdrm         1 Bdrm         2 Bdrm         3 Bdrm
Bedroom Adjustment                                    1                  0.7            0.8           0.95           1.085
                                               VERY LOW INCOME UNITS
Percent of Median                                     50%
Annual Income                                    $ 26,050
Affordable Housing Cost (per month)               $       651
Homeowner Assoc. Fees (per month)                 $       208
Property Taxes (1.25% [per month])                $        57
PMI (.52% of loan amt. [per month])               $        21
Affordable Mortgage Payment (per month) $                365
Affordable Mortgage                     $             49,050
Down Payment @ 10%                                $     5,450
                                                                       0 Bdrm         1 Bdrm         2 Bdrm         3 Bdrm
Sales Price @ 10% Down Payment                    $   54,500     $       38,150   $     43,600   $     51,775   $     59,133

                                                  LOW INCOME UNITS
Percent of Median                                      60%
Annual Income                                     $ 31,260
Affordable Housing Cost (per month)               $       782
Homeowner Assoc. Fees (per month)                 $       208
Property Taxes (1.25% per month)                  $        73
PMI (.52% of loan amt. per month)                 $        28
Affordable Mortgage Payment (per month) $                473
Affordable Mortgage                     $             63,463
Down Payment @ 10%                                $     7,051
                                                                       0 Bdrm         1 Bdrm         2 Bdrm         3 Bdrm
Sales Price @ 10% Down Payment                    $   70,514     $       49,360   $     56,412   $     66,989   $     76,508

                                              MODERATE INCOME UNITS
Percent of Median                                  100%
Annual Income                                   $ 52,100
Affordable Housing Cost (per month)               $     1,303
Homeowner Assoc. Fees (per month)                 $       208
Property Taxes (1.25% per month)                  $       140
PMI (.52% of loan amt. per month)                 $        52
Affordable Mortgage Payment (per month) $     902
Affordable Mortgage                     $ 121,117
Down Payment @ 10%                                $   13,457
                                                                       0 Bdrm      1 Bdrm         2 Bdrm         3 Bdrm
Sales Price @ 10% Down Payment                    $ 134,574      $       94,202   $ 107,660      $ 127,846      $ 146,013
   f:\...\staffrpt\exhibits\0b27efa9-ea8d-4db0-945e-9da0a7c1ab89.xls                                                3/8/2011
                                                ATTACHMENT 1
          YEAR 2000 MAXIMUM INCOME, RENT, AND PURCHASE PRICES
                     For On-Site & Off-Site Affordable Housing

                         MAXIMUM ALLOWABLE INCOME (ANNUAL)
                         Household Very Low   Low   Moderate
                           Size      (50%)   (60%)   (100%)
                             1      $18,235 $21,882   $36,470
                             2      $20,840 $25,008   $41,680
                             3      $23,445 $28,134   $46,890
                             4      $26,050 $31,260   $52,100
                             5      $28,134 $33,761   $56,268
                             6      $30,218 $36,262   $60,436
                             7      $32,302 $38,762   $64,604
                             8      $34,386 $41,263   $68,772


                         MAXIMUM ALLOWABLE RENTS (MONTHLY)
                                    Very Low  Low   Moderate
                          Unit Type  (50%)   (60%)   (100%)
                           0-Bdrm      $456    $547      $912
                           1-Bdrm      $521    $625    $1,042
                           2-Bdrm      $619    $742    $1,237
                           3-Bdrm      $707    $848    $1,413
                           4-Bdrm      $798    $957    $1,596


          MAXIMUM ALLOWABLE PURCHASE PRICES (1615 CCS ONLY)1
                            Very Low   Low    Moderate
                  Unit Type  (50%)    (60%)    (100%)
                   0-Bdrm   $ 38,150 $ 49,360 $ 94,202
                   1-Bdrm   $ 43,600 $ 56,412 $ 107,660
                   2-Bdrm   $ 51,775 $ 66,989 $ 127,846
                   3-Bdrm   $ 59,133 $ 76,508 $ 146,013
      1
       Purchase prices for affordable units subject to Ordinance 1918 (the Affordable Housing Production Program)
      are determined by criteria established in Section 6 of the Administrative Guidelines for the Affordable Housing
      Production Program.




                                                                                                        3
f:\...\wpfilesl\staffrpts\exhibits\0b27efa9-ea8d-4db0-945e-9da0a7c1ab89.xls\Max Inc, Rents & Price (1615) /8/2011
                                           ATTACHMENT 1


                       YEAR 2000 MAXIMUM INCOME AND RENT*
                        For On-Site & Off-Site Affordable Housing



                       MAXIMUM ALLOWABLE INCOME (ANNUAL)
                       Household Very Low   Low   Moderate
                         Size      (50%)   (60%)   (100%)
                           1      $18,235 $21,882   $36,470
                           2      $20,840 $25,008   $41,680
                           3      $23,445 $28,134   $46,890
                           4      $26,050 $31,260   $52,100
                           5      $28,134 $33,761   $56,268
                           6      $30,218 $36,262   $60,436
                           7      $32,302 $38,762   $64,604
                           8      $34,386 $41,263   $68,772




                       MAXIMUM ALLOWABLE RENTS (MONTHLY)
                                  Very Low  Low   Moderate
                        Unit Type  (50%)   (60%)   (100%)
                         0-Bdrm      $456    $547      $912
                         1-Bdrm      $521    $625    $1,042
                         2-Bdrm      $619    $742    $1,237
                         3-Bdrm      $707    $848    $1,413
                         4-Bdrm      $798    $957    $1,596




                       *This table is published pursuant to Ordinance 1918 as codified
                       as Chapter 9.56 of the Municipal Code of the City of Santa
                       Monica.




f:\...\wpfilesl\staffrpts\exhibits\0b27efa9-ea8d-4db0-945e-9da0a7c1ab89.xls\Max Income & Rents (1918) 3/8/2011

								
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