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6 <br /> 7 <br /> For the most part, and unless otherwise specified, ❑C-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 /> 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 /> 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 /> a 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 /> funded HCV Program, which provides monthly <br /> utility assistance to applicable low and very low <br /> income households. <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. <br />