Agmt 2012 Bay Area Homebuyer Agency (2)

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• Closing the sale • Responsibilities of homeownership (economic - including default management, personal and physical) • • Becoming a community member and neighbor Target goal for the homebuyer education seminars: Award certificates of completion to 75 households for completing the FTHB homebuyer education seminars B. HOMEBUYER COUNSELING Consultant duties include conducting free individual counseling with households meeting the following eligibility criteria and providing further assistance to households who have completed a FTHB educational seminar. Counseling curriculum shall include: 1) preliminary personal financial resource analysis; 2) setting up a purchase plan and 3) focused education on the homebuying process. • Must be first Time homebuyers (participants may not have owned a residential property for at least the past three years) • Must have incomes at or below 120% of Area Median Income. (AMI) • Must have steady employment and /or income • Must have credit scores thatare above 620 or its equivalent. All individuals/households with lesser scores will be immediately referred over to the nonprofit Operation Hope for credit and debt management. • Must not be overextended with their credit. All individuals/households with overextended credit will be immediately referred over to Operation Hope for credit and debt management counseling. Target goal for Homebuyer Counseling: Provide individual counseling for 25 eligible households IV. INCLUSIONARY HOUSING /BMR OWNERSHIP PROGRAM Consultant duties include monitoring of existing inclusionary housing /below market rate ownership units, assisting homeowners with the resale of existing below market units, maintenance of the City wait list for new inclusionary ownership units, marketing of new inclusionary ownership units for sale, and placementoof households on the City wait list into new inclusionary ownership units. Target goal for the Inclusionary Housing /Below Market Rate Ownership Program: Place 2 households, preferably from the City wait list, into new or existing inclusionary housing units V. POST PURCHASE WORKSHOPS AND COUNSELING Consultant will conduct one (1) Post Purchase Workshop and follow -up homeowner counseling as needed. The Post Purchase Workshop and Counseling shall. complement the FTHB and Inclusionary Housing Programs by assisting participants become better homeowners. Consultant shall administer one workshop based on the following: Consulting Services Agreement between July 1, 2012 City of San Leandro and BAHBA -- Exhibit A Page 2 of 3