216 Rockingham Row - Princeton Forrestal Village - Princeton, NJ Phone: (609) Fax: (609)

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1 Piazza & Associates Affordable Housing Services 216 Rockingham Row - Princeton Forrestal Village - Princeton, NJ Phone: (609) Fax: (609) Dear Applicant, On behalf of Edison Township, I want to thank you for your interest in this affordable housing program. Piazza & Associates, Inc. has been engaged by the Township to provide you with information regarding its affordable housing, answer your questions and help you through the application process. As you will see, there will be a variety of opportunities for low and moderate income households to purchase or rent an affordable home in Edison. I have provided a brief outline of each below. A. Village Court Seniors is a rental community dedicated to seniors (55 years of age and older). There are 105 one- and two- bedroom apartments that are set aside for low- and moderate- income households. Village Court Seniors is located just north of Rt. 287, off of Talmadge Road. To apply for this program, check the option for Village Court. To contact the leasing office, call B. Clara Barton: 21 low- and moderate- income, one-bedroom condominiums for sale to senior households in the development, known as The Village at Historic Clara Barton. At least one person in the household must be 55 years of age or older. All of the units are completed and sold, but they come up for resale to qualified buyers from time to time. The Village at Historic Clara Barton is located off of Liddle Avenue, just north of Rt. 287 and just west of the Turnpike. By checking the "Clara Barton" option on the Preliminary Application, we will pre-qualify you for this program. C. Rivendell Heights: 22 two- and three- bedroom rental apartments were set aside within the community, known as Rivendell Heights, located just off of Plainfield Avenue, north of Central Avenue. These units are completed. Check the Rivendell option on the Preliminary Application if you would like to be prequalified for the waiting list. D. Edison: 45 one- two- and three- bedroom condominiums in this development are set aside as rental apartments for low- and moderate- income households. Centreplace is located off of Woodbridge Avenue, near Middlesex County College. Check the Centreplace option on the Preliminary Application if you are interested. E. Market to Affordable Program: In addition to the properties listed above, Edison has developed a Market to Affordable Program (MTAP). Through an exclusive arrangement with landlords of market-rate properties, the MTAP provides affordable rental apartments in various rental communities throughout the municipality. The number of apartments incorporated into the MTAP varies depending on the property. The rents, utilities and minimum incomes are published when a unit becomes available. If you are interested, please check the box marked Rent Market to Affordable. If you are interested in applying to purchase or rent an affordable home in Edison, please complete the Preliminary Application (enclosed) as soon as possible and fax to or mail it directly to us, at: Piazza & Associates, Inc., 216 Rockingham Row, Princeton, NJ Within two weeks, you will receive a letter of determination regarding your preliminary eligibility for the program. Applications will be processed on a "first come, first served" basis. So don't delay! Return your application today! Sincerely, Frank Piazza 05/1/2012

2 MAXIMUM GROSS ANNUAL HOUSEHOLD INCOME FOR ALL PROGRAMS To be eligible for the affordable housing programs in Edison, the gross annual income of your household can not exceed the limits required by the various programs. Gross annual income includes, but is not limited to all earned income, as well as income from assets, benefits, child support and alimony for all persons in the household who are 18 years of age or older. The maximum income is based on the total number of persons who will reside in the affordable home. The table, below, sets forth the maximum income to be eligible for the low income opportunities and the moderate income opportunities. Maximum Incomes are adjusted annually and are subject to change without notice. One Person Two Three Four Five Six Number of in Household > 2011 Income Level Low 36,260 41,440 46,620 51,800 55,944 60,088 Moderate 58,016 66,304 74,592 82,880 89,510 96,141 RENTAL RATES AND MINIMUM INCOME REQUIREMENTS FOR RENTALS The current rental rates and minimum incomes for the apartment communities are listed below. The rental rates do not include utilities. The minimum incomes are based on the rents and an estimate of utilities that perspective tenants will pay each month. All rental rates and minimum income requirements are regulated and subject to change without notice. Rental rates do not fluctuate with the income of the residents. Income Village Court Seniors + Rivendell Heights ++ Centreplace + Market to Affordable Category Rent Min Income Rent Min Income Rent Min Income Rent Min Income Low , , ,588 Mod , ,794 1,026 38,605 Low , & , , ,520 Mod ,504 1,222 47,040 1,133 42,926 1,226 46,320 Low 742 & 1,109 31, ,937 1,046 41,040 Mod 1,406 54,446 1,304 49,611 1,411 53,554 Rents are depicted as monthly and subject to change without notice. + Tenants pay for gas and electric. ++ Tenants pay for gas, electric & water. * Minimum Income standards may vary and generally do not apply to applicants with Section 8 Rental Assistance. In addition to minimum and maximum income standards imposed by the municipal and state affordable housing regulations, applicants will be subject to the tenant selection standards of each apartment community. These generally include minimum credit and other similar standards. SALES PRICES FOR THE VILLAGE AT HISTORIC CLARA BARTON Sales Prices are determined when an affordable home is placed on the market. There are no minimum income standards for purchase units, but applicants must provide proof that they are able to obtain financing if necessary. Piazza & Associates is not responsible for errors or changes in the terms and conditions of any of these affordable housing programs. 05/1/2012

3 Preliminary Application for Affordable Housing This is a Preliminary Application only. Do not send supporting documentation at this time. You will be notified as to the status of your preliminary eligibility based on the information that you provide in this application. When an affordable home becomes available, eligible candidates will be contacted. At that time, we will provide you with a list of documentation required to support and verify the information submitted in this application. We can not and do not guarantee housing based on the approval of this Preliminary Application. All of the affordable housing in Edison is privately owned. Application services are provided by Piazza & Associates, Inc., an affordable housing services corporation. This is an Equal Housing Opportunity. This program is subject to municipal and state affordable housing regulations, but no guarantee can be made that these homes are affordable to all applicants. This program is subject to availability. Prices, terms and conditions are subject to change without notice. Piazza & Associates, Inc. Affordable Housing Services 216 Rockingham Row Princeton Forrestal Village Princeton, NJ Telephone: Facsimile: Equal Housing Opportunity

4 Affordable Housing Policies and Requirements For All Applicants It is unlawful to discriminate against any person making application to buy or rent a home with regard to age, race, religion, national origin, sex, handicapped or familial status. This affordable housing must be the intended primary residence of the applicant. All household members who intend to reside at the affordable homes must be listed in the Preliminary Application. If changes in household composition occur during the application process, or if there is a change of address, the applicant is required to notify Piazza & Associates, Inc. in writing, immediately. Applications must be truthful, complete and accurate. Any false statement makes the application null and void, and subjects the applicant to penalties imposed by law. Annual Income includes, but is not limited to, salary or wages, alimony, child support, social security benefits, unemployment benefits, pensions, business income, and actual or imputed earnings from assets (which include bank accounts, certificates of deposit, stocks, bonds, or other securities), and real estate. If you own a home in which you are currently residing and which you intend to sell prior to living in an affordable home, compute your income from this asset by taking the market value of your home, subtracting any applicable broker fees AND the current principal of your mortgage, and multiply the balance by 2%. Income from other real estate holdings is determined by the actual income you receive from the asset (less expenses, but not less your mortgage payment). Specific documentation to verify income and assets will be required at a later date, during the final portion of the application process. Please understand that the pricing and rental rates for this affordable housing are established and governed by Federal, State and / or municipal regulations. Although consideration is made for low- and moderate- categories of household incomes, sales prices and rental rates do not fluctuate on the basis of each individual applicant's income. Therefore, we can not and do not guarantee that any home, for sale or rent, will be affordable to YOU or YOUR household. The owners and managers of affordable apartments will set forth additional requirements, including, but not limited to an application fee, a lease agreement, security deposit and minimum credit standards. Once leased, rents will NOT be adjusted to accommodate fluctuations in household income. Rental rate increases may occur annually, but are subject to limitations. We do not provide financing to purchase affordable homes. If you need assistance completing this application, please contact us at DO NOT SEND SUPPORTING DOCUMENTATION WITH THIS APPLICATION. Please mail your application to the address, below, or fax it to us at Piazza & Associates, Inc. 216 Rockingham Row - Princeton, NJ Equal Housing Opportunity

5 Preliminary Application for Affordable Housing A. Head of Household Information 1. Last Name: Soc. Sec. No: First Name: 3. Home Address: Home Phone: ( Work Phone: ( ) -- ) P.O. Box or Apt. No.: 5. City: County: State: ZIP: B. Household Composition and Income (List ALL sources of income, including, but not limited to Salary, Dividends, Social Security, Child Support, Alimony & Pensions. DO NOT include income from Assets listed in Section C.) Full Name (First, Middle & Last) Relation To Date of Birth Sex Gross Annual Income List everyone who will occupy the apartment. #1 #2 #3 #4 #5 #6 Head of Household Do you receive Section 8 Rental Assistance that will apply to the affordable apt?: Do you PAY alimony and/or child support to someone outside the hosuehold? If you do, how much do you pay per month? C. Assets (Bank Accounts, Cert. of Deposit, Mutual Funds, Real Estate, Etc. If you own the home in which you live, clearly indicate BOTH the market value & your equity in the home Your equity equals the market value less any outstanding mortgage principal.) Type of Asset Current Market Value of Asset Estimated Annual Income Annual Interest F. Important Information (Must be signed by everyone over the age of 17.) I(We) hereby authorize the Township Edison, Owners and Managers of Apartments referenced herein and/or Piazza & Associates, Inc., their agents and/or employees to obtain information regarding the status of my(our) credit, and to check the accuracy of any and all statements and representations made in this application. I(We) certify that all information in this application is accurate, complete and true. I(We) understand that if any statements made are willingly false, the application is null and void, and I(we) may be subject to penalties imposed by law. Void if not signed. Signed: Date: Signed: Date: % % % D. Areas of Interest Check all of the housing opportunities that apply. Purchase at Clara Barton (55+) Rent Village Court Seniors (55+) Rent at Rivendell Rent Centreplace Rent Market to Affordable E. Preferences No. of Bedrooms (limited by number in household): One? Two? Three? Do you require a handicap-accessible home?:

6 Additional Information Please use this page to provide us with any additional information about your application. Equal Housing Opportunity

Piazza & Associates. Affordable Housing Services

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