Laserfiche WebLink
EXHIBIT B-1 <br /> STATEMENT OF WORK <br /> EVERETT—COMMUNITY HOUSING IMPROVEMENT PROGRAM <br /> PROJECT DESCRIPTION <br /> The Agency operates the Everett- Community Housing Improvement Program <br /> ("CHIP"). Pursuant to this Agreement, under its CHIP program, the Agency will <br /> provide HOME-assisted low-interest loans to low-income homeowners to <br /> rehabilitate their homes within the corporate limits of the Agency and the Agency's <br /> Urban Growth Area. The purpose of the program is to assist low-income <br /> homeowners to remain in their homes and to help maintain the current affordable <br /> housing stock in decent, safe, and sanitary condition. <br /> II. SERVICES PROVIDED <br /> A. The proceeds of the subgrant and program income under this Agreement will <br /> be used to provide home rehabilitation loans under the Agency's CHIP program <br /> in accordance with the provisions of this Agreement, including but not limited <br /> to, the project requirements in Section III of Exhibit A-1 and this Exhibit B-1. <br /> B. The HOME loans provided will be in the form of deferred payment non- <br /> amortizing home rehabilitation loans for terms of fifteen to twenty-five years that <br /> accrue at three percent per annum simple interest. Loan amounts typically <br /> range between $2,500 and $100,000, with an estimated average loan of <br /> $45,000. Loan terms and payments shall be as set forth in the Agency's <br /> Community Housing Improvement Program Operating Procedures Manual, <br /> dated October 2012, and as subsequently amended with notice provided to the <br /> County. <br /> C. To carry out the Project, the Agency shall maintain a technical staffing function <br /> which provides direct program support. This technical staffing function shall <br /> include HOME eligibility determination, inspection of homes to identify critical <br /> health and safety deficiencies and other needed rehabilitation work, <br /> preparation of work write ups, assisting homeowners in soliciting general and <br /> trade contractors, oversight of construction progress, ensuring work is <br /> performed to required property standards, and completing loan underwriting <br /> and debt service functions. <br /> Exhibit B-1 <br /> HCS-17-42-1701-198(1) <br /> City of Everett <br /> Page 1 of 2 <br />