Laserfiche WebLink
HOME Investment Partnership Program (HOME) <br />Reference 24 CFR 91.220(1)(2) <br />1. A description of other forms of investment being used beyond those identified in Section <br />92.205 is as follows:0 <br />None. <br />2. A description of the guidelines that will be used for resale or recapture of HOME funds <br />when used for homebuyer activities as required in 92.254, is as follows:0 <br />Per the Alameda County HOME Consortium guidelines, the City shall notify the Owner that <br />the City or a City Designated Purchaser elects to exercise the City Option to purchase the <br />HOME. The City's Notice shall include the City's calculation of the Maximum Restricted <br />Resale Price to be paid by the City or a City Designated Purchaser. <br />3. A description of the guidelines for resale or recapture that ensures the affordability of <br />units acquired with HOME funds? See 24 CFR 92.254(a)(4) are as follows:2 <br />Per the Alameda County HOME Consortium guidelines, the City shall notify the Owner that <br />the City or a City Designated Purchaser will not exercise the City Option to purchase the <br />HOME. In this event, the City Response Notice shall include the following information: (1) <br />the maximum qualifying income for an Eligible Purchaser; (2) the certifications required of <br />an Eligible Purchaser; and (3) the Maximum Restricted Resale Price the Owner may receive <br />for HOME, calculated by the City. Upon receipt of such notice, the Owner may proceed to <br />sell the Home to an Eligible Purchaser at a price not to exceed the Maximum Restricted <br />Resale Price. <br />4. Plans for using HOME funds to refinance existing debt secured by multifamily housing that <br />is rehabilitated with HOME funds along with a description of the refinancing guidelines <br />required that will be used under 24 CFR 92.206(b), are as follows:0 <br />Not applicable. <br />DRAFT City of San Leandro Annual Action Plan 26 <br />2014 <br />OMB Control No: 2506-0117 (exp. 07/31/2015)P, <br />