Section 265.24.5. Amount of rent subsidy.

       24.5(1) Use of subsidy. Assistance shall be used for rental expense.

       24.5(2) Maximum monthly payment for rent. Assistance for rent shall be equal to the rent paid, not to exceed 100 percent of the current fair market rent under guidelines of the applicable HUD low-rent housing program in the area where the person’s residence is located, less 30 percent of the gross income of the applicant. The fair market rent used shall be that for a one-bedroom unit or a proportionate share of the fair market rent in living units containing more than one bedroom. When the applicant resides with a dependent relative(s), the proportionate share may consist of additional bedrooms, applying the same maximum monthly payment standard.

       24.5(3) Monthly payment. Applicants approved for rent subsidy payments shall receive an ongoing monthly payment which is equal to the amount determined pursuant to subrule 24.5(2), provided, however, that the authority will not send any payments that amount to less than $25 but will accrue subsidy payments until such time as at least $25 is accumulated. An approved rent subsidy shall be payable on a monthly basis following approval.