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4 <br /> released and proposals solicited from eligible landlords. In the future, OC-LRSP may be amended to include sponsor-based rental assistance <br /> as a methodology for incentivizing new affordable housing multi-family development. <br /> B. PURPOSE <br /> The purpose of the OC Local Rent Supplement Program (OC-LRSP) is to provide rental assistance in the form of a monthly rental subsidy to <br /> Homeless/At Risk of Homelessness persons and families, Senior/Disabled persons, and Victims of Domestic Violence who are at or below the <br /> fifty (50) percent of the Area Median Income limit. <br /> PART II: PROPOSED PROGRAM GUIDELINES <br /> Orange County Local Rent Supplement Program (OC-LRSP) <br /> ELIGIBLE SUBSIDY COSTS • The total proposed cost of the Local Housing program is $203,6201 and <br /> the break-out of units with associated costs are as follows: <br /> 0 5 one bedroom units @ $902 per month for 12 months <br /> =$54,120 <br /> 0 5 two bedroom units @$1,055 per month for 12 months = <br /> $63,300 <br /> 0 5 three bedroom units @ $1,435 per month for 12 months = <br /> $86,100 <br /> • HOME Tenant-Based Rental Assistance (TBRA) allocation of $114,6132 <br /> will support the needed difference of $103,620 for rental subsidies. <br /> • Of the $114,613 identified above, $10,993 will be used to cover <br /> security and utility deposit payments; and <br /> • If additional funds are needed to cover security and utility deposit <br /> payments, OCHA will make a request for Risk Mitigation/Housing <br /> Displacement Funds, as well as for applicable assistance from other <br /> jurisdictions. However, these funds are often available on a one-time <br /> basis and may not be used for ongoing utility assistance as is <br /> provided under the federally-funded HCV Program, which provides <br /> monthly utility assistance to applicable low and very low income <br /> households.. <br /> • Note that determining the appropriate voucher size will not solely be <br /> based on bedroom size but household size and must meet the Local <br /> Rent Supplement Program's occupancy standards: <br /> 0 1 Bedroom -- 1-2 persons <br /> 0 2 Bedrooms— 2-4 persons <br /> 'The proposed total program cost increased due to the increase in HUD's Fair Market Rents (FMRs) for 2019. The FMRs usually increase each year <br /> based on market conditions. <br /> 2 The proposed FY201 8-2019 HOME allocation was approved by the BOCC on June 19, 2018 and by HUD on October 3, 2018. <br />