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7 <br /> <br />For the most part, and unless otherwise specified, OC-LRSP will follow the rules and regulations <br />of the HCV Program. However, some of the differences between OC-LRSP and HCV Program <br />are that OC-LRSP’s rental subsidies are not for housing outside a 10-mile radius of the County’s <br />jurisdictional boundaries. Therefore the subsidies are not “portable” and are only available to <br />Orange County residents. In addition, the preferences and priorities for the housing assistance <br />are different than those specified in the HCV Program rules and regulations. Furthermore, the <br />rental assistance may be administered as tenant-based and/or project-based. If project-based is <br />utilized then an RFP will be released and proposals solicited from eligible landlords. In the <br />future, OC-LRSP may be amended to include sponsor-based rental assistance as a <br />methodology for incentivizing new affordable housing multi-family development. <br /> <br />B. PURPOSE <br />The purpose of the OC Local Rent Supplement Program (OC-LRSP) is to provide rental <br />assistance in the form of a monthly rental subsidy to Homeless/At Risk of Homelessness <br />persons and families, Senior/Disabled persons, and Victims of Domestic Violence who are at or <br />below the fifty (50) percent of the Area Median Income limit. <br /> <br />PART II: PROPOSED PROGRAM GUIDELINES <br /> <br />ELIGIBLE SUBSIDY COSTS <br /> <br /> <br />• 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 />o 5 one bedroom units @ $902 per month for <br />12 months =$54,120 <br />o 5 two bedroom units @$1,055 per month for <br />12 months = $63,300 <br />o 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 />funded HCV Program, which provides monthly <br />utility assistance to applicable low and very low <br />income households. <br /> <br />RENTAL ASSISTANCE The amount of the monthly assistance that OCHA will pay <br />on behalf of a family, may not exceed the difference <br />between the rent payment standard for the unit size and <br />thirty (30) percent of the family’s monthly adjusted income.