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This Executive Regulation clarifies the rent rate calculation method for townhomes in the Moderately Priced Dwelling Unit (MPDU) program, establishes payment procedures to the Housing Initiative Fund (HIF) for rental buildings with 11-19 units, and updates stylistic elements for consistency with other MPDU regulations.
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What is moderately priced dwelling unit?
A moderately priced dwelling unit (MPDU) is a type of affordable housing that is priced to be affordable for individuals and families with moderate incomes, typically set at or below a certain percentage of the area median income.
Who is required to file moderately priced dwelling unit?
Developers of residential projects that meet certain criteria, including those that include a specified number of affordable units, are required to file a moderately priced dwelling unit.
How to fill out moderately priced dwelling unit?
To fill out a moderately priced dwelling unit form, one must provide information about the proposed units, including the number of units, their pricing, and income eligibility requirements, along with any supporting documentation required by the local jurisdiction.
What is the purpose of moderately priced dwelling unit?
The purpose of the moderately priced dwelling unit program is to provide affordable housing options for moderate-income households and to promote socioeconomic diversity within communities.
What information must be reported on moderately priced dwelling unit?
Information that must be reported includes the number of units, pricing structure, income levels of potential residents, and compliance with local housing regulations.
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