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6. • CHIP - Community Housing Improvement Program Administration <br /> CHIP provides housing rehabilitation services and loans to residents of Everett. 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 2013 CDBG Funds: $146,907.00 <br /> 7. Housing Hope— Commerce Building Improvements <br /> Housing Hope will use these funds to restore the exterior envelope of the Commerce Building in <br /> downtown Everett. Included in the scope of the work will be tuckpointing, patching, resealing, and <br /> reflashing of all exterior brick masonry, concrete, and stucco surfaces. The Commerce Building is <br /> listed on the National Register of Historic Places and houses low-income residents in downtown <br /> Everett. <br /> Recommended 2013 CDBG Funds: $346,212.00 <br /> Recommended 2013 2060 Funds: $50,000.00 <br /> Total: $396,212.00 <br />