2007/01/03 Council Agenda Packet

4 9 (1) Individual total rehabilitation cost(i.e.all materials,supplies and labor costs directly (2) Partnership related to the rehabilitation of the property). (3) Corporation (4) Not-for-Profit Costs. Include all HOME funds used for the activity and all other funds (5) Publicly Owned (public and private). Do not double count. If private funds are used for (6) Other construction financing and those funds are later replace by permanent 2. Developer's Name. Enter the name of the developer. financing,do not report both. Report all HOME funds expended on the 3. -6. Developer's Street Address,City,State,and Zip Code. activity. (Note:Federal regulations specifically prohibit paying back Self-explanatory. HOME funds with HOME funds.) For funds other than HOME,to the extent a choice must be made to avoid double counting,report permanent Complete Homebuyer Activity financing rather than construction financing. The total amount of HOME G.Activity Information funds reported in the block titled"Total HOME funds(Total Item(1)for 1. Activity Type. Only if the activity type has changed from set up in all addresses must equal the total amount disbursed through IDIS for this E.1,enter the revised completion activity type in the box. activity. 2. Property Type. Enter code to indicate the type of property assisted: (1) 1-4 Single Family 1. HOME Funds. (Including Program Income.) (2) Condominium Enter funds provided for a.Property Costs and for b. (3) Cooperative Downpayment Assistance. Note:For this activity to be reported as (4) Manufactured HOMESIGHT an ADDI activity,an amount must be entered in the Downpayment 3. FHA Insured(Y/N)?(For single address activities.) Enter"Y"for Assistance Section b.for each property address that is to be counted yes or"N"for no to indicate whether the property's mortgage is as assisted with ADDI funds. insured by FHA. a.Property Costs—b.Downpayment Assistance 4. Lease Purchase?(For single address activities.)If there is a lease (1) Amortized Loan. Enter the amount of HOME funds provided purchase agreement,enter the date of the agreement. for this activity in the form of an amortized loan. If there are 5. Complete Units: Total Number: HOME Assisted: Enter the total multiple loans,enter the interest rate and term of the largest number of completed units and the told number of HOME Assisted loan. units. (2) Grant. Enter the amount of HOME funds provided without any repayment requirements. (Note:A grant may be used to reduce the principal amount borrowed,a principal reduction payment, H.Units or the effective interest rate,an interest subsidy payment,on a 1. Of the units completed,the number: total and Home-Assisted privately originated loan.) Meeting Energy Star Standards. Enter the total number of (3) Deferred Payment Loan(DPL). Enter the amount of HOME completed units that meet Energy Star standards and the number of funds provided through loans where payment of principal and completed units that meet Energy Star standards and the number of interest is deferred until a future time and enter the interest rate completed HOME-Assisted units that meet Energy Star standards. and amortization period,if any. A DPL is sometimes called a conditional grant(e.g.,repayment is required when the property Energy Star applies to substantial rehabilitation. It is a system for is sold,or is forgiven if the owner does not sell the property for achieving and verifying a level of building performance with respect a specified number of years or repayment of principal and to energy efficiency. The performance level is certified by third party interest starts after the bank loan is repaid.) contractors. See www.eneraystar.eov for more information. (4) Other. Enter the total amount of HOME funs provided for subsidy funding that is other than the type of loan/grant Total and HOME Assisted 504 accessible. Enter the total number assistance identified in the above items listed in(1)through(3). of completed units and completed HOME assisted units that are 504 c. CHDO Loan. Enter the amount of HOME funds provided as a accessible. Note: IDIS will default the answers to zero if units are CHDO loan for the activity. not entered in these fields. Total HOME Funds or total this address. Enter the total of items a through c as the amount of HOME funds expended. 2. Period of Affordability. If you are imposing a period of 2. Public Funds. affordability that is longer than the regulatory minimum,enter the (1) Other Federal Funds. Exclude any HOME funds expended. total years(HOME minimum+additional)of affordability. PJ- (2) State/Local Funds. imposed period of affordability: years. The period of (3) Tax Exempt Bond Proceeds. Report funds used for affordability for Homebuyer activities is based on the amount of development costs only. HOME funds invested in the housing: Total Public Funds. Enter the total of items(I)through(3)as the amount of Public Funds expended. • Per Unit HOME Amount Minimum Period of Affordability 3. Private Funds. --- —--— ------— — — --- — — — — (I) Private Loans. Enter the amount of all of the costs that have Under$15,000 5 years been paid with funds obtained from private financial $15,000 to$40,000 10 years institutions,such as banks,savings and loans,and credit unions, Over$40,000 15 years and enter the interest rate and amortization period of the loan. If there are multiple loans,enter the interest rate and term of the To indicate that the housing is to be affordable in perpetuity,enter largest loan. (Do not double count.) "99"in the PJ-bmposed Period of Affordability field. (2) Owner Cash Contribution. Enter the amount of all cash contributions provided by the homebuyer. I.Property Address (For multi-address activities.) (3) Private Grants. Enter the amount of cash contributions 1. Homebuyer's Name. (Optional) provided by private organizations,foundations,donors,etc. 2. -6. Homebuyer's Street Address,City,State,Zip Code and .Total Private Funds. Enter the total of items(I)through(3)as the County Code. Self-explanatory. amount of Private Funds expended. 4. Activity Total or Total Address. Enter the sum of totals for HOME J.Costs funds,Public funds and Private funds. Purchase Price. Enter the price paid by the homebuyer for the property as evidenced on the deed. K. Household Characteristics. Complete one line for the head of household of each residential unit that is Value After Rehab. Enter the dollar value of the property. The dollar receiving homebuyer assistance from the HOME Program. value is the appraised value of the property before rehabilitation plus the Page 5 of 6 1 9 Revised(8/06)