Gold Nugget Awards - Affordability Form

AFFORDABILITY FORM

1. FOR SALE or RENT PROJECTS
To meet affordability criteria, at least 20% of the units in the project must be affordable to families earning 80% to 120% of the Median Family Income (MFI) for the local market area (metropolitan area or county). Refer to your city/county government office for the MFI. The maximum affordable selling price is 2.5 time 120% of the MFI. The maximum affordable rental rate equals 1⁄3 of 80% of the MFI.

Entry Details

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Entry Number*

Project Name*

Median Family Income for your market area is

Source of MFI data

Selling price(s) of affordable model(s)

Rental Rates

Number of units each model(s)

Total number of units in project

2. What kinds of concessions, if any, were obtained from local government to assist in reducing the cost of the project? Examples: density bonus, changes in construction standards, fee waivers, land price concessions. Be specific.

3. What type of below-market financing and/or government subsidy, if any, was obtained?

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