3-5. EXCEEDING THE 150 PERCENT OF FMR CAP

The 150 percent of FMR cap only applies to MUTM under Option One-A and only in cases where the lesser of the two measures identified in Section 3-4.A. (i.e., comparable market rents for the market area and 150 percent of FMR) is 150 percent of FMR. If the project meets one of the three criteria found in Section 3-6. B. below the renewal rents are equal the comparable market rents for the market area.