Laserfiche WebLink
TEXAS DEPARTNIENT OF HOUSING AlD CONl'MUidlTY AFFAIIZS <br />HOINIE CONTRNCT # 1000930 <br />EIHIBIT A <br />PERFORIN1ANCE STATEMENT AND BUDGET <br />CITY OF PARIS, <br />A POLITICAL SUBDIVISION OF THE STATE OF TEXAS, <br />Administrator shall carry out the following activities identified by this Exhibit A and in its HOME <br />Program Application Number 2008-0004. <br />HOMEBUYER ASSISTANCE PROGRAM <br />Administrator shall implement a Homebuyer Assistance Program in accordance with 24 C.F.R. Part <br />92 and the applicable Texas statutes and the Texas Administrative Code utilizing TWO HUNDRED <br />THOUSAND AND NO/100 DOLLARS ($200,000.00 dst funds <br />t <br />Eachahomebu~yer ass~ ed n usD <br />A N D N O/ 1 0 0 D O L L A R S 8, 0 0 0. 0 0), i n a d m m i s t r atie fun <br />meet the definition of a first time homebuyer as defined in 24 CFR Part 92. <br />Administrator shall use the funds provided under this contract to provide Homebuyer Assistance to a <br />- <br />_ll-be-based on the <br />0Y 1- zome6uY-ers.~er-forniance under t_he Contract ten-n _wl. <br />ofTWENTY~2 <br />following benchmarks from the Contract begin date: <br />(A) 6 months, exempt administrative and environrriental clearance yriust be complete for at least- <br />one Household to be assisted; <br />(B) 12 months, environmental clearance must be complete for at least 50% of the Households to <br />be assisted, 50% of funds must be comrnitted, 25% of funds drawn, and 25% of match supplied; <br />(C) 18 inonths, enviroiunental clearance must be complete for at least 75% of the Households to <br />be assisted, 75% of funds must be committed, 50% of funds drawn, and 500/o of matcli <br />requirement supplied; and <br />(D) 24 months, 100°ro of fulids must be comillitCed, 100% of funds drawn, and I 00% of matched <br />supplied. <br />Administrator shall provide HOME Homebuye~iA i~ce i inc for-ni <br />oTt ocosts,nslaalldnot3exlceed Teu <br />anlount for dowllpaylnent and closin~ cost as~ ~ <br />Thousand and No/100 Dollars (S10,000.OC>). Each loan will be a zero percent (01/%) interest defen-ed <br />forgivable loan. The loan ternl will be five (5) years based on the total amount of assistance provided <br />and in accordallce %vith the federal affordability requirements as defined in 24 CFR §92.254. <br />HOME Contract # 1000930 <br />Pa~e 16 of 21 <br />