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The following explains the detailed calculations behind the Need allocation. Exhibit 4 <br />provides a map of the allocated Need foraevvered communities; tables showing calculations <br />are available in Exhibits and 0. <br />Part 1: Forecast the Number of New Affordable Units Needed in the Region <br />Figure B-2: Overview of Regional Need Calculations <br />Step1: <br />Determine <br />forecasted Step2: <br />household Determine <br />growth income levels <br />Income ator <br />below 30% of <br />AW1| /20,400A <br />00 <br />0 Income at3196 <br />' to50Y6ofAW1| <br />0 .� <br />= (10.55@ <br />Income at 5196 <br />E to80Y6ofAW1| <br />00 <br />Cq (19.45@ <br />cn — <br />,- Income above <br />`- 8096 ofAM| <br />Stoo3: Determine how many <br />households ateach income level need <br />additional affordable housing units <br />(Total = 37,400 households) <br />Stoo4: <br />Ensure <br />healthy <br />vacancy rate <br />(51-8096 <br />band only) <br />* She;-) I. - Determine forecasted household growth. <br />The C0unoi|\sMarch 2015regional forecast shows that the region will have 1,258,000 <br />households in2020and 1,377,000households in2030--anet growth of119,000 <br />households. <br />pO&*o2.- Determine the proportion o/growth constituted bxlow-income households. <br />Of the 119,000 additional households the region is expected to add between 2020 and <br />2030,17.296/20,400\will have incomes atorbelow 3096ofAW1|,13.996/10,550\will have <br />incomes between 3196and 5096ofAM|,and 10.396(19,450) will have incomes between <br />51Y6and 80Y6ofAW1|.This iaatotal of50,400households. These projections oonnefronn <br />historical income distribution patterns, applied tothe 2020and 2030household f0reo8StS.« <br />p Step ��Determine how many low-income households will need additional affordable <br />housing units. <br />Not all low-income households will need additional affordable housing units. Some will <br />be low-income seniors who already own their home free and clear without experiencing <br />housing cost burden. Filtering out those households, there will be a total of 37,400 <br />low-income households needing additional affordable units— 18,900 households with <br />HOUSING POLICY PLAN Appendices <br />