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MARICOPA COUNTY HOME Investment Partnerships Program Program Year 2015 Consortium Member: City of Scottsdale, Arizona Project: Acquisition, rehabilitation and rental 2015 HOME Funds: $206,420 (includes $12,901 Administration) Type of Property: Single Family A. DETAILED SCOPE OF WORK: Include the following- 1. Consolidated Plan goals as it relates to this activity, include the priority rating i.e. High, Low The plan states "The primary housing goal of the Consolidated Plan is to foster the development and maintenance of housing affordable to target-income households as well as those with special needs." Purchase and rehabilitate one (1) new permanent affordable rental home in Scottsdale. A contracting agency will utilize HOME funds to use towards the purchase and minor rehabilitation of one home to be rented for income eligible residents. Scottsdale currently has (12) permanent affordable rental Units. This is a high priority goal in Scottsdale’s consolidated plan. 2. Type of assistance/activity to be provided with HOME funds: Single Family Housing Rehabilitation Creation of permanent affordable rental homes. ARM families are eligible for supportive services through Save the Family’s Homeless Families Intervention Project (HFIP) which is the Career Development Center to assist families with obtaining higher paying employment and with budgeting issues so they may be able to pursue more permanent housing through homeownership or a move to fair-market rentals in the community. 3. Methods and instruments used for ensuring affordability: The HOME funds will be secured by a Deed of Trust and Promissory and will utilize the Recapture provision. The lien will be secured for the applicable period of affordability contingent on the amount invested in the unit. After the term of the period of affordability, the lien will be forgiven. 4. Anticipated use of program income/project proceeds: none B. OBJECTIVES AND OUTCOMES OUTCOMES OBJECTIVE AVAILABILITY/ AFFORDABILITY SUSTAINABILITY ACCESSIBILITY Single Family Homebuyer Activities, DECENT Housing Rehab and Acquisition/Rehab of rental housing, Housing Activities in a HOUSING Emergency Rehab, Acquisition/New Construction of rental targeted revitalization Homebuyer housing, TBRA, Expansion of assisted area Assistance rental units in the private marketplace 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% 1 1 1 Households at or below 80% TOTAL 1 1 1 D. PRIORITY POPULATIONS: None E. PERFORMANCE REPORTING GOALS-TIMELINE OF ACTIVITIES: START COMPLETION MILESTONES DATE DATE HOME Contract approved by City Council December 5, 2017 December 5, 2017 Market Study December 2017 December 14, 2017 Underwriting January 2018 January 10, 2018 Secure Financing January 2018 January 16, 2018 Environmental Review January 2018 January 30, 2018 Obtain Site Control February 2018 February 16, 2018 RFQ Issued February 2018 March 7, 2018 Developer Selected and Signed Development Contract March 2018 March 20, 2018 Home Set up Report to County March 2018 March 24, 2018 Acquisition and Rehab to commence March 2018 April 24, 2018 Rehab complete or Certificate of Occupancy April 2018 May 20, 2018 Unit Occupied by Low/Moderate Income Family May 2018 July 20, 2018 Completion Report submitted to City July 2018 August 1, 2018 Any change to the Timeline will need to be submitted to and approved by Maricopa County. F. ACTIVITY BUDGET SUMMARY: ACTIVITIES HOME Additional Sources* TOTAL FUNDS (defined in COST PY 2015 Table G.) ACQUISITION Land Buildings $172,019 $172,019 Cash Match Rent – ARM Match $48,380(Match) $48,380 REHABILITATION Construction Costs-Materials $11,500 $11,500 Builder Overhead Builder Profit $10,000 $10,000 General Requirements Consultant/Specialist Permits & Fees Construction Contingency Sales Tax ARCHITECTURAL FEES Design Supervision CONSTRUCTION INTEREST & FEES & LEGAL FEES Construction Interest Bond Premium Title & recording Insurance Legal Fees ADMINISTRATION COSTS Program Delivery Administration $12,901 Volunteer Labor TOTAL $206,420 $48,380 $241,899 G. SOURCE AND AMOUNT OF OTHER RESOURCES: VOLUNTEER/ FUNDING AGENCY CASH AMOUNT IN-KIND AMOUNT Affordable Rental Movement-ARM $48,380 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 Affordable Rental Cash or cash equivalents from a Movement of Save the non-federal source Family $48,380 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 single- or multi-family state housing bonds Value of donated materials, equipment, labor and professional services Sweat equity TOTALS $48,380