Vote: approved

Item Text

42. AGREEMENT WITH THE NEIGHBORHOOD HOUSING SERVICES OF SOUTHWEST MARICOPA COUNTY, INC. Approve the agreement between Neighborhood Housing Services of Southwest Maricopa County), Inc. (NHSSWMC), a non-profit agency, and Maricopa County through its Human Services Department, Community Development Division, for the management and implementation of HOME Investment Partnerships Program (HOME) Funded Home Buyer Assistance Program, in the not-to-exceed amount of $124,530.00. The purpose of this grant Agreement is to provide HOME funds for down payment assistance to low and moderate income homebuyers acquiring homes in the Urban County. This Agreement is effective upon execution and will expire September 15, 2013. These funds have been included in the FY 2011 budget. No General Funds are involved in this activity. Approve execution of HUD required repayment documents including, but not limited to, promissory notes, deeds of trust, forgivable loan agreements, deed restrictions, satisfaction of loan documents and other documents as may be necessary to implement the approved projects. This grant has a 25% match requirement. Funds to meet the requirement will be provided by Neighborhood Housing Services of Southwest Maricopa County. This program is funded through a grant from the U. S. Department of Housing and Urban Development. (C-22-10-091-3-00)