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2 11. Habitat for Humanity—Acquisition for First Time Homebuyer <br /> Acquisition of a vacant lot in north Everett by Habitat for Humanity of Snohomish County to <br /> construct a single family residence for a low-income family for home ownership. Habitat for <br /> Humanity will target a home buyer with income of 25% to 50% of area median household income. <br /> Recommended 2015 CDBG Funds: $55,000.00 <br /> 12. CHIP - Community Housing Improvement Program Administration and Loans <br /> CHIP provides housing rehabilitation services and loans to Everett properties. Rehabilitation <br /> services (loan processing, preparation of bid specifications, selection and monitoring of contractors) <br /> are provided to homeowners and landlords whose property is located within the program <br /> boundaries. A variety of loans (conventional, guaranteed, reduced interest, and deferred payment) <br /> are available to homeowners based on income. Due to accounting changes required by HUD all <br /> funding is put into Fund 197 and is used for administration and rehabilitation projects. <br /> Recommended 2015 CDBG Funds: $100,000.00 <br /> 18 <br />