Replacement Housing Computation for 90 Day Tenants

State Form 38641

RAAP FORM #15A

REVISED 09/2014

REPLACEMENT HOUSING COMPUTATION FOR 90 DAY TENANTS

AND LESS THAN 90-DAY OWNERS

Name / DISPLACEE(S) NAME / Project / PROJECT #
Address / ADDRESS IN RIGHT OF WAY / Code / CODE / Parcel / PARCEL
Comparable #1 / Monthly rent and utilities: / $
Comparable #2 / Monthly rent and utilities: / $
Comparable #3 / Monthly rent and utilities: / $
Selected comparable and basis for correlation:
Rental Assistance Entitlement / ENTITLEMENT COMPUTATION
A. / Prime Comparable (rent + util) / $ / 0.00 / / mo. / ( Rent $ / + Util. $ / Total $ / 0.00 / )
B. / Subject (rent + util) / $ / 0.00 / / mo. / ( Rent $ / + Util. $ / Total $ / 0.00 / )
C. / 30 % of Gross Income / $ / / mo. (SEE R8) / Entitlement Prepared by:
D. / Lesser of A, B or C / $ / 0.00
AGENT NAME, Right of Way Agent
E. / A minus D / $ / 0.00
X 42 months
F. / Entitlement / $ / 0.00 / RAP LRH-T (over $7,200.00) / Date
Rental Assistance Payment / PAYMENT COMPUTATION / Downpayment Assistance Payment
A. / Prime Comparable (rent + util) / $ / 0.00 / / mo. / A. / Actual Purchase Price / $
B. / Replacement (rent + util.) / $ / / mo. / B. / Avg. % Downpayment
required in Area / 20%
C. / Lesser of A & B / $ / 0.00 / / mo. / C. / Avg. Downpayment Required / $ / 0.00
D. / Subject (rent + util) / $ / 0.00 / / mo. / D. / Actual Downpayment Paid / $
E. / 30% of Gross Income / $ / / mo. / (SEE R8) / E. / Elig. Incidental Exp. Paid / $
F. / Designed Shelt. Allow. / $ / / mo. / F. / Total Downpmt. Paid at Closing / $ / 0.00
G. / Lesser of D, E, or F / $ / $ 0.00 / / mo. / G. / MAXIMUM DOWNPAYMENT: / $7,200.00
(Unless in the case of Last Resort Housing Entitlement)
H. / C minus G / $ / 0.00 / / mo. / H. / Downpayment Assistance Pmt. / $ / 0.00
X 42 months / *
I. / Rental Assistance Pmt. / $ / 0.00 / RAP LRH-T (over $7,200.00)
LAST RESORT HOUSING / (YES or NO)YesNo / Rental Assistance Pmt. To be disbursed in Lump Sum or in Installments?
RIGHT OF WAY AGENT’S CERTIFICATION:
This is to certify that the undersigning Right of Way Agent determined the Rental Assistance Payment and/or Downpayment Assistance Payment listed above. It is further understood that the undersigned has no direct present or contemplated personal interest in this transaction, or will the undersigned Right of Way Agent derive any benefit from the these entitlements.
Date / AGENT NAME, Right of Way Agent

State Form 38641

RAAP FORM #15A

REVISED 09/2014