O-2009-3187 3rd amendment to allow for additional financial assistance to eligible Down Payment Assistance

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homes in the Northside Neighborhood Single- Family New Construction Project to be used for down payment and closing cost assistance: 211 North 1st; 207 and 216 North 2 224 North 6 Streets. Applications for down payment assistance will be processed by the Grantee following a preliminary determination of eligibility of the applicant based upon the Letter of intent to Process Loan, Good Faith Estimate and 1003 Uniform Residential Loan Application submitted by the mortgage lender, pursuant to the regulations governing the HOME Program. D. Marketing Program The Subrecipient shall develop and adhere to a marketing plan to ensure the completion of the process of finding buyers, building and selling of the homes during the Time of Performance period. Marketing plan activities shall include but not be limited to contracting with a real estate broker licensed in the State of Texas whose responsibilities will include conducting an open house and listing the properties on the Multiple Listings Service as well as local publications. The Subrecipient shall price each home in accordance with the maximum mortgage limits specified in the FHA Loan 203(b) Program for the Houston/Harris County Metropolitan Service Area. The Subrecipient shall refer all questions, inquiries, or requests for down payment assistance to HCCSD staff. E. Matching Funds Requirement HOME Program funds used for Subrecipient construction activities are required to be matched according to 24 C.F.R. § 92.218. Eligible forms of matching contributions must be met in accordance with 24 C.F.R. § 92.220. The Subreciptent`s required matching contribution for this Project shall equal no less than $109.705.00. F. Service Delivery Plan The Subrecipient shall follow the detailed work plan summary below and Project timeline to ensure completion of the Project within the Time of Performance period. Month Aetiv /Action August 2006 The Subrecipient and Grantee sign contract. The Request for Qualifications (RFQ) process for qualified builders is posted. Pre - program Contract survey with residents and community leaders begins. Begins-- February Five (5) building sites/lots are purchased by the Subrecipient. RFQ 2007 reviewed by the RFQ Committee and recommendation forwarded to Subrecipient. Pre- program evaluation/survey with area residents and community leaders is conducted. RFQ's are reviewed by community leaders. The Subrecipient signs contract with consultant to assist with marketing and application process with HCCSD