Common use of Depth of Affordability Clause in Contracts

Depth of Affordability. Rents at Occupancy (AHP Funded Units) Establishes “permitted rents” which are used in Schedule “I” Unit Type Average Unit Rent (AHP Funded Units) (A) CM HC Average Market Rent ($) (B) Percentage of CM HC Average Market Rent (A÷B) • 100 Bachelor One Bedroom Two Bedroom Three Bedroom Four Bedroom Other Depth of Affordability: Percentage of CMHC Average Market Rent Achieved for Overall Project 80% (Note: This figure cannot be greater than 80% of CMHC Average Market Rent, without the approval of the County)

Depth of Affordability. Rents at Occupancy (AHP OPHI Funded Units) Establishes “permitted rents” which are used in Schedule “I” Unit Type Average Unit Rent (AHP Funded Units) (A) CM HC Average Market Rent ($) (B) Percentage of CM HC Average Market Rent (A÷B) • 100 Bachelor One Bedroom Two Bedroom Three Bedroom Four Bedroom Other Depth of Affordability: Percentage of CMHC Average Market Rent Achieved for Overall Project 80% (Note: This figure cannot be greater than 80% of CMHC Average Market Rent, without the approval of the County)

Depth of Affordability. Rents at Occupancy (AHP COCHI Funded Units) Establishes “permitted rents” which are used in Schedule “I” Unit Type Average Unit Rent (AHP Funded Units) (A) CM HC Average Market Rent ($) (B) Percentage of CM HC Average Market Rent (A÷B) • 100 Bachelor One Bedroom Two Bedroom Three Bedroom Four Bedroom Other Depth of Affordability: Percentage of CMHC Average Market Rent Achieved for Overall Project 80% (Note: This figure cannot be greater than 80% of CMHC Average Market Rent, without the approval of the County)