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-3- <br />. They must show direct benefit of 100% of the funds by lower income <br />families. (This will be waived down to 70% in most cases and to <br />50% in extreme cases.) This means that initial occupancy of 70% of the <br />rehabilitated units after rehab, must be by families with incomes <br />below 80% of median. <br />. They must demonstrate that priority was shown for large families. <br />This means that 70% of the units rehabilitated must have at least <br />2 bedrooms. <br />. They must demonstrate that rents in at least 80% of the rehabilitated <br />units remain at "affordable" levels for seven years after rehab. <br />Failure to meet this standard will cause a grantee to have its fund- <br />ing level reduced in subsequent years. <br />. Rent controls of any kind are strictly prohibited. <br />. No administrative costs may be deducted from the subsidy funds. <br />. Davis -Bacon applies to any building with more than 12 units. <br />20 <br />