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PROJECT TOTALS $105,000 1 unit 1 unit r <br /> 3 persons 3 pers � <br /> r^ '� #' .sL.S� ,,,._,a .a .::. �`.,.„ � a.:.^ rz �_�w.�'m�'-��-•:�. �,.:e�c�� x.,.•,v ys ,_.,�. .�-�b3 �.,.....«..ws-.�-.,,,r awe..... w., ;���� ..,-..., <br /> 5. National Objective: <br /> For each activity listed in the above Activity Detail, under the corresponding number list the applicable national objective and provide the following explanation for that <br /> national objective. For more detail, see the Income Benefit page. <br /> • LMMH: Describe the process for income qualifying households and ensuring residency <br /> • LMMA: Describe the service area, list its LMMI percentage, and state whether the LMMI percentage is based on HUD's census data or an income survey. Also <br /> attach a map outlining the correlation between the service area and the census boundaries. <br /> • LMMC: Describe how the project exclusively benefits a limited clientele or the process and income levels used for income qualifying persons served by the activity. <br /> National Explanation <br /> Objective <br /> LMMH Each family's income and household composition will be verified using standards third-party verification procedures and documenting <br /> TM K <br /> Alternative procedures when necessary. Verifications will be maintained in program files. <br /> -2-srammirli 44';4,12 <br /> 6. Funds Obligation Timeline: <br /> 50% Funds Obligated 100% Funds Obligated/End Date If anticipate program income, please list source. <br /> January 2010 September 20, 2010 From sale of homes to eligible families. <br /> , �. ..>..,w� <br /> 7. Specific Activity Requirements: <br /> Acquisition Activities • Describe how you will ensure All units will be subject to third-party professional appraisal and purchase price will not exceed 85%of appraised <br /> the NSP purchase discount value. <br /> requirement will be met: <br /> Financing Activities • List the anticipated range of Zero to three percent for soft second resale loans. <br /> interest rates: <br /> Housing related • List the duration or term of This project will be exclusively for home ownership opportunities. Covenants will require interim rental, if any, <br /> activities assistance exclusively to families. Affordability restrictions will be incorporated in covenant deed restrictions at least <br /> • Rental or homeownership equivalent to those at 24 CFR 92.254. If assistance is converted to a grant, permanent affordability restrictions <br /> will be required,such as through a community land trust. <br /> • Describe how the design of <br /> the activity will ensure <br /> continued affordability. <br /> 7 <br />