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7 <br /> 1 The new program is designed to complement the federally-funded Housing Choice Voucher <br /> 2 (HCV) Program, which is administered by OCHA and will assist families and individuals who <br /> 3 earn 50% or less of the Area median Income with priority going to those who are very low <br /> 4 income (30% of AMI or less). The program promotes community-wide planning and strategic <br /> 5 use of resources to address the jurisdiction's unmet needs and to narrow the gap in benefits <br /> 6 and services received by cost-burdened families. <br /> 7 <br /> 8 For the most part, and unless otherwise specified, OC-LRSP will follow the rules and <br /> 9 regulations of the HCV Program. However, some of the differences between OC-LRSP and <br /> 10 HCV Program are that OC-LRSP's rental subsidies are not for housing outside a 10-mile radius <br /> 11 of the County's jurisdictional boundaries. Therefore the subsidies are not "portable" and are <br /> 12 only available to Orange County residents. In addition, the preferences and priorities for the <br /> 13 housing assistance are different than those specified in the HCV Program rules and <br /> 14 regulations. Furthermore, the rental assistance may be administered as tenant-based and/or <br /> 15 project-based. If project-based is utilized then an RFP will be released and proposals solicited <br /> 16 from eligible landlords. In the future, OC-LRSP may be amended to include sponsor-based <br /> 17 rental assistance as a methodology for incentivizing new affordable housing multi-family <br /> 18 development. <br /> 19 <br /> 20 B. PURPOSE <br /> 21 The purpose of the OC Local Rent Supplement Program (OC-LRSP) is to provide rental <br /> 22 assistance in the form of a monthly rental subsidy to Homeless/At Risk of Homelessness <br /> 23 persons and families, Senior/Disabled persons, and Victims of Domestic Violence who are at or <br /> 24 below the fifty (50) percent of the Area Median Income limit. <br /> 25 <br /> 26 PART II: PROPOSED PROGRAM GUIDELINES <br /> ELIGIBLE SUBSIDY COSTS The total proposed cost of the Local Housing <br /> program is $203,6201 and the break-out of units with <br /> associated costs are as follows: <br /> 0 5 one bedroom units @ $902 per month for <br /> 12 months =$54,120 <br /> 0 5 two bedroom units @$1,055 per month for <br /> 12 months = $63,300 <br /> 0 5 three bedroom units @ $1,435 per month <br /> for 12 months = $86,100 <br /> • HOME Tenant-Based Rental Assistance (TBRA) <br /> allocation of$114,613 will support the needed <br /> difference of$103,620 for rental subsidies. <br /> • Of the $114,613 identified above, $10,993 will be <br /> used to cover security and utility deposit payments; <br /> and <br /> • If additional funds are needed to cover security <br /> and utility deposit payments, OCHA will make a <br /> request for Risk Mitigation/Housing <br /> Displacement Funds, as well as for applicable <br /> assistance from other jurisdictions. However, <br /> these funds are often available on a one-time <br /> basis and may not be used for ongoing utility <br /> assistance as is provided under the federally- <br />