17.69.090 Eligibility – General policy.
Affordable housing units developed pursuant to this chapter shall be leased to persons who meet the eligibility requirements of this chapter. The developer/subdivider shall provide proof of its compliance with all eligibility and affordability controls to the City or its designated monitoring agency annually and/or upon written request. Prospective tenants shall provide verification of their eligibility at the time they enter into any lease agreement, and periodically thereafter.
A. To be eligible to occupy affordable housing under this chapter the following criteria must be met:
1. The persons comprising the household must have a combined household income which does not exceed one hundred percent of the Grand County, Utah, area median income (AMI), as published by HUD from time to time.
2. At least one person in the household must be either: (a) employed full time in Moab or Grand County; (b) disabled; or (c) over sixty years of age and retired from the workforce.
3. All persons occupying affordable housing must utilize the housing as their sole place of residence. Subleasing or assignment of rental agreements, or overnight accommodation uses of units developed under this chapter, are not permitted.
B. Rent Calculation. The developer/subdivider offering affordable housing units for lease shall set the monthly rental rate at an amount (assuming a three-bedroom unit) and less reasonable utility costs that does not exceed thirty percent of the area median income (AMI) for a Grand County household of four persons, as adjusted from time to time, divided by twelve months (the allowed rental rate). The allowed rental rate calculation shall assume a reasonable allowance for annual utility costs that may be incurred by the tenant. Units with greater than or less than three bedrooms shall be rented at a rate which is adjusted proportionately. As an illustration, the allowed rental rate per month for an affordable unit based on Grand County AMI of fifty-five thousand dollars would be as follows:
|
3 bedroom: AMI $55,000 – $1,200 (annual utility allowance) x 30% ÷ 12 |
= $1,345.00 per month; |
|
2 bedroom: |
= $896.66; |
|
1 bedroom: |
= $448.33. |
1. Inflation adjustments in the allowed rental rate shall be made annually, as of January of each calendar year, and shall be based upon the year to year increase in the Consumer Price Index (CPI-U), West Region, as published by the United States Department of Labor, Bureau of Labor Statistics. The City or the monitoring agency will publish the inflation adjustment and provide same to developers for purposes of calculating allowed rental rate increases.
2. Nothing in this chapter shall preclude a developer from entering into a fixed rental rate lease with a tenant who is otherwise compliant with this chapter at the time of execution. (Ord. 18-20 (part), 2018)