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 City of San Leandro Annual Action Plan <br />2013 <br />25 <br />OMB Control No: 2506‐0117 (exp. 07/31/2015)  <br />HOME Investment Partnership Program (HOME) <br />Reference 24 CFR 91.220.(I)(2) <br /> <br />1. A description of other forms of investment being used beyond those identified <br />in Section 92.205 is as follows: <br />None. <br /> <br />2. A description of the guidelines that will be used for resale or recapture of <br />HOME funds when used for homebuyer activities as required in 92.254, is as <br />follows: <br />Per the Alameda County HOME Consortium guidelines, the City shall notify the <br />Owner that the City or a City Designated Purchaser elects to exercise the City <br />Option to purchase the HOME. The City's Notice shall include the City's calculation <br />of the Maximum Restricted Resale Price to be paid by the City or a City Designated <br />Purchaser. <br /> <br />3. A description of the guidelines for resale or recapture that ensures the <br />affordability of units acquired with HOME funds? See 24 CFR 92.254(a)(4) are <br />as follows: <br />Per the Alameda County HOME Consortium guidelines, the City shall notify <br />the Owner that the City or a City Designated Purchaser will not exercise the City <br />Option to purchase the HOME. In this event, the City Response Notice shall include <br />the following information: (1) the maximum qualifying income for an Eligible <br />Purchaser; (2) the certifications required of an Eligible Purchaser; and (3) the <br />Maximum Restricted Resale Price the Owner may receive for HOME, calculated by <br />the City. Upon receipt of such notice, the Owner may proceed to sell the Home <br />to an Eligible Purchaser at a price not to exceed the Maximum Restricted Resale <br />Price. <br /> <br />4. Plans for using HOME funds to refinance existing debt secured by multifamily <br />housing that is rehabilitated with HOME funds along with a description of the <br />refinancing guidelines required that will be used under 24 CFR 92.206(b), are <br />as follows: <br />Not applicable. <br />