- Must be low- or moderate-income households who currently reside in a building which has undergone Tenant Participating Conversion (TPC). Potential borrowers must first contact the City to obtain an eligibility certificate. This involves unit inspection and proof of occupancy in order to establish proof of residence in the TORCA unit. Evidence includes:
- any type of picture I.D. to facilitate subsequent on-site identification and
- four pieces of evidence to support occupancy of the subject unit. One of the documents must be the Rental Agreement and another must be a copy of a canceled rent check (both front and back). Additional documentation can include (but is not limited to): utility bills or driver’s license.
- May not currently own another residence.
- May not be members of the City Council. Also, persons employed by the City's Resource Management Department, City Manager's Office, City Council, or family members of such persons are not eligible to participate in the program.
- May not be the immediate relatives of the seller of the unit, including the spouse, child, parent, grandparent, brother, sister, father in-law, mother-in-law, son-in-law, daughter-in-law, aunt, uncle, niece, nephew, sister-in-law or brother-in-law.
Maximum low- and moderate-income levels per household size for 2011 are as follows:
||Maximum Annual Income*
*Based on the HUD Low (80%) and Moderate (120%) Income Limits. Figures updated annually.