O-2002-2599 - Laserfiche WebLink

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Program or $115,000.00, which ever is less. This must be supported by a certified appraisal. 4. The acquisition of any property in this program cannot result in the displacement of the present tenant. Any property purchased with HOME funds must comply with the HOME Displacement, Relocation, and Acquisition requirements as well as the Uniform Relocation Act. 5. Existing homes must meet HUD's minimum Section 8 Housing Quality Standards or local building codes. Newly constructed homes must meet the current edition of the Model Energ Building Officials (Exhibit D). y Code (MEC) by the Council of American 6. The purchaser must order a lead -hazard inspection on all housing built before 1978; housing built after 1978, the requirement of 24 C.F.R. Part 35 must be met. Activity #1 The Subrecipient will assist the prospective homebuyer with the following: 1. Prepare homebuyer application form. 2. Refer prospective homebuyer to lenders to determine mortgage eligibility as prescribed by Exhibit A, Scope of Services (Program Delivery). 3. Assemble source documentation evidencing annual income (e.g., wage statement, interest statement, unemployment compensation statement) for the household in order to calculate annual income utilizing the Section 8 definition for determining annual income (Exhibit E). The Grantee may monitor the Subrecipient (this includes physical inspections of the property) on a bi-weekly basis or as needed (in addition to ongoing technical assistance as a quality control measure) to provide guidance and determine compliance with HOME Program requirements. If a determination of eligibility is made, the Subrecipient will forward a written notice of conditional approval to the prospective homebuyer and Subrecipient will proceed to Activity #2. In the event that the prospective homebuyer is deemed ineligible the Subrecipient will forward a written notice of denial to the prospective homebuyer. Subrecipient shall provide or shall arrange for delivery of homebuyer education at no cost to the prospective homebuyer, and shall provide a list of eligible counseling agencies in the application packet to interested homebuyers, all provided as a part of the services contracted for herein; however, prospective homebuvers may take the required course from any other eligible counseling agency of prospective homebuyer's choice, but in such case, --prospective homebuyer shall bear all cost.