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<br /> 1. Project Name: Home Purchase and Resale Program
<br /> 2. Project Brief Description: Providing funds to purchase, rehabilitate and resell homes to eligible families. Upon sale, program funds will convert to
<br /> soft secondary loans or grants, depending upon underwriting guidelines.
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<br /> 3. Area Served:
<br /> Address or Neighborhood Zip Code(s) Census Tract Block Group(s) St Leg District# Congressional Dist#
<br /> City of Everett Urban Growth Area 98201, 98203, 0401,0402,0403, 0404, 1,2, 3,4, 5, 6 38th 2nd
<br /> 98204, 98208 0405,0406, 0407, 0408,
<br /> 0409,0410,0411,0414,
<br /> 0415,041201, 041302,
<br /> 041601,041605, 041606,
<br /> 041607, 041608, 041701,
<br /> 041804, 041805, 041806,
<br /> 041807,041808, 041903,
<br /> 041904,041905
<br /> How does this project address an area of All homes to be purchased will be already foreclosed.
<br /> greatest need? Such as:
<br /> • High foreclosure rates
<br /> • High %subprime mortgages
<br /> • Rise in rates of foreclosures
<br /> • Neighborhood is impacted by foreclosed or
<br /> abandoned properties
<br /> • Consistency with state NSP Plan
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<br /> 4. Activity Detail:
<br /> NSP Eligible Use CDBG Eligible Activity NSP #Housing Units and#Persons Name of Entity
<br /> $Amount Carrying Out Activity
<br /> i24A, B, Use
<br /> CFR Activity @ 50% @ 51% @ 81% Above
<br /> D or E 570._ -80% - 120% 121%
<br /> B Purchase and 201(a) Acquisition, rehabilitation, $100,000 2 units Everett Housing
<br /> rehabilitate foreclosed 201(b) disposition 3 persons Authority "`.
<br /> homes for resale to 202
<br /> eligible families
<br /> General Administration
<br /> $5,000
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