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APPENDIX E <br />HOUSING QUALIFICATIONS FOR THE DISTRICT <br />INCOME RESTRICTIONS - ADJUSTED FOR FAMILY SIZE <br />(HOUSING DISTRICT) -Ramsey County <br />No. of Persons 50% of Median <br />Income <br />60% of Median <br />Income <br />80% of Median <br />Income <br />1-person $26,850 $32,2200 $38,100 <br />2-person $30,700 $36,840 $43,500 <br />3-person $34,500 $41,400 $48,950 <br />4-person $38,350 $46,020 $54,400 <br /> Source: Minnesota Housing Finance Agency <br />The three options for income limits on a standard housing district are 20% of the units at 50% of median <br />income, 40% of the units at 60% of median income, or 50% of the units at 80% of median income. <br />(AS MODIFIED NOVEMBER 13, 2002) <br />It is anticipated that the portion of the District which will contain the Lodge at Little Canada will <br />additionally restrict incomes of residents so that no more than 20% of the market value of the land <br />and building, including the commercial portion of the building, will not be subject to any type of <br />income restriction. The income restrictions contemplated by the City as a matter of policy for <br />properties assisted by tax increment, includes 50% of the units at 80% or less of median income as <br />adjusted for family size, 30% of the units at 110% of gross median income, and 20% of the units at <br />150% of gross median income. Market value is assumed to be the market value of the property based <br />upon income as established by the mortgage underw riters for the Lodge at Little Canada upon final <br />commitment of the first mortgage loan for the property in 2003. <br />*PLEASE NOTE THAT THESE RENT AND INCOME NUMBERS ARE ADJUSTED ANNUALLY. <br /> THE NUMBERS ABOVE ARE FOR 2002. <br />APPENDIX E-1