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Exhibit B-1 <br />HCS-23-42-2002-198(1) <br />City of Everett <br /> Page 1 of 2 <br />EXHIBIT B-1 <br /> <br />STATEMENT OF WORK <br /> <br />EVERETT – COMMUNITY HOUSING IMPROVEMENT PROGRAM <br /> <br /> <br />I. PROJECT DESCRIPTION <br /> <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 <br />Agency’s Urban Growth Area. The purpose of the program is to assist low- <br />income homeowners to remain in their homes and to help maintain the current <br />affordable housing stock in decent, safe, and sanitary condition. <br /> <br />II. SERVICES PROVIDED <br /> <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 <br />program in accordance with the provisions of this Agreement, including but <br />not limited to, the project requirements in Section III of Exhibit A and this <br />Exhibit B. <br /> <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 <br />that accrue at three percent per annum simple interest. Loan amounts <br />typically range between $7,500 and $100,000, with an estimated average <br />loan of $48,500. Loan terms and payments shall be as set forth in the <br />Agency’s Community Housing Improvement Program Operating Procedures <br />Manual, dated May 2018, and as subsequently amended with notice provided <br />to the County. <br /> <br />C. To carry out the Project, the Agency shall maintain a technical staffing <br />function which provides direct program support. This technical staffing <br />function shall include HOME eligibility determination, inspection of homes to <br />identify critical health and safety deficiencies and other needed rehabilitation <br />work, preparation of work write ups, assisting homeowners in soliciting <br />general and trade contractors, oversight of construction progress, ensuring <br />work is performed to required property standards, and completing loan <br />underwriting and debt service functions. <br /> <br /> <br /> <br />