Extracted text (via pymupdf_layout)
3741 characters
MARICOPA COUNTY HOME Investment Partnerships Program 2017a Work Statement Program Year: HOME 2017 Consortium Member: City of Tempe, Arizona Project: Homebuyer Assistance (CAMP) Program Year 2017 HOME Funds: $155,490 Type of Property: Single Family A. DETAILED SCOPE OF WORK: Include the following- a. Consolidated Plan goals as it relates to this activity, include the priority rating i.e. High, Low This activity supports the Consolidated Plan goal to expand affordable housing by providing direct financial assistance to income-qualified homebuyers. This is a High Priority. b. Type of assistance/activity to be provided with HOME funds: Homebuyer Assistance c. Methods and instruments used for ensuring affordability: Recapture provision (funds are secured with a Deed of Trust and Promissory Note. Should the home be sold, refinanced with cash to borrower or no longer the homeowner’s primary residence within the 10 period of affordability, the funds will be recaptured from the net proceeds of the sale and reused for the next income eligible family. d. Anticipated use of program income/project proceeds: Program income/recaptured funds will be used for administration and additional HOME-eligible projects per 24 CFR 92. B. OBJECTIVES AND OUTCOMES (Check appropriate box below.): OUTCOMES OBJECTIVE AVAILABILITY/ AFFORDABILITY SUSTAINABILITY ACCESSIBILITY Homebuyer Activities, Single Family Acquisition/Rehab of rental housing, DECENT Housing Rehab and Acquisition/New Construction of rental Housing Activities in a HOUSING Emergency Rehab, housing, Preservation of existing public targeted revitalization Homebuyer housing units and TBRA, Expansion of area Assistance assisted rental units in the private marketplace 2017a Work Statement C. PROPOSED BENEFICIARIES: Targeted Population by Number of Total Number Number of Income Level Households of Units HOME Assisted Units in program (if rental) Households at or below 50% Households at or below 60% Households at or below 80% 5 5 TOTAL 5 5 D. PRIORITY POPULATIONS: None E. PERFORMANCE REPORTING GOALS-TIMELINE OF ACTIVITIES: START COMPLETION MILESTONES DATE DATE HOME Contract signed by City Official 1/31/18 1/31/18 Underwriting 12/15/17 7/1/18 Secure Financing 12/15/17 7/1/18 Environmental Review 12/15/17 5/30/18 Home Set up Report to County 12/15/17 5/30/18 Acquisition and/or Rehab and/or Construction to N/A N/A commence Executed Deed of Trusts 12/15/17 5/30/18 Unit Occupied by Low/Moderate Income 12/15/17 5/30/18 Person/Family Completion Report submitted to County 8/1/18 8/1/18 Any change to the Timeline will need to be submitted to and approved by Maricopa County. F. ACTIVITY BUDGET SUMMARY: ACTIVITIES 2017 HOME Additional Sources* TOTAL FUNDS (defined in COST Table G.) ACQUISITION Land Buildings Closing Costs/DPA $155,490 $1,700,000 1,855,490 Legal Fees TOTAL $155,490 1,700,000 1,855,490 G. SOURCE AND AMOUNT OF OTHER RESOURCES: VOLUNTEER/ FUNDING AGENCY CASH AMOUNT IN-KIND AMOUNT Private Lenders $1,700,000 2017a Work Statement H. MATCH: Identify match sources and amounts that have been committed to the project: Match commitment must equal 25% of the HOME funds requested. Documentation is due at the time of request for payment(s). Match Logs must be submitted annually by June 30th of each year. SOURCE/FUNDING TYPE TOTAL AGENCY Cash or cash equivalents from a non-federal source Value of waived taxes, fees or charges associated with HOME projects Value of donated land or real property Cost of infrastructure improvements associated with HOME projects Percentage of proceeds from Newtown – IDA single- or multi-family state 38,873 funding housing bonds Value of donated materials, equipment, labor and professional services Sweat equity TOTAL $38,873