Laserfiche WebLink
appropriate individual idenlified by the City to do so. Paris Living will interface with TDHCA <br />to ensure that all projects are comecttY set up and•follow up to ensure that the requested draws <br />have in fact bcen made. Paris Living wiU maiatain a generat program file, which will contai:n <br />program legal documents, correspondence and reports. Paris Living will generate aU <br />administrative draw requests for approval by the City for transmission to TDHCA for paynnent. <br />At the City's request, periodic program status reports will be made to the City (timiag of said <br />reports to be determined by the City). Files will be maintained centrally at Paris Living offices <br />and will be transported to the City's offices for review by state monitors when so desired by the <br />state and the City. At the end of the program, Paris Living will deliver all the files to the City <br />for long-term storage in accordance with fND rules and regulations. <br />➢ Environmental Clearance <br />. Paris Living will review flood ceztifications and appraisals to detemune whether the <br />property being financed lies within a floodplain The program design prohibits any property <br />that lies either within an sirport runway clearance Zone or with a coastal barriers resource area <br />from being fumded in this program Paris Living will prepare the state environmental forms 1.'or <br />signature by the appropriate City staff person. Further, Paris Living will prepare lead base <br />paint notifications and disclaimers on behalf of the City for signature by the prospective buyers <br />of each house at or prior to closing. Paris Living will require that all prospective homebuyers <br />receive a lead base pain.t booklet either at the first lien loan application or as par[ of the eamest <br />money contract. <br />➢ Client Intake and Qualificxtioa <br />~ The program design call Eor client intalce and'qualification to be performed by the contract <br />administrator. Paris Living will undertake, or cause to be undcriaken, this process on behalf <br />of the City. Paris Living will presenl applications to interested parties, either in persan, by <br />fax, mail, or email; meet with applicants n a face-to-face setting to finish the application <br />process; prepare fornns for applicant and City designee signatures, prepare verification<,; of <br />employment and deposit; review income documentation; review credit rcports, if necessary; <br />acquire and review first lien documents; prepare and send required disctosures to <br />bonowers; prepared and send notifications of loan approval or denial; and prepare and se.nd <br />to TDHCA set up materials for their contract system. Information received will be <br />compared to application inforntation raceived from the fusl lien mortgage lender. In <br />addition, Paris Living will provide training to any participating local lender to facilitate the <br />processing of first, second and third lien loans and to insure that all program niles and <br />regulations are met. Paris Livings will provide assistance to the mortgage lenders via <br />tetephone, fax, and email to ensure that all the applicants assisted are properly income <br />qualified. Paris Living will interface with TDHCA to ensiu'e that all projects arc corcectly <br />set up and information is sent to TDHCA to prepare for closing. <br />➢ Affirmstive and Falr Marketiag <br />. Paris Living will provide general marketing activities as directed by the City to ensure the <br />success of the program. Paris Living will generate press releases on the program and <br />disseminate those releases to news media identified by the City. Paris Living will create and <br />disburse to participating first lien mortgage lenders packets of information regarding the <br />program including term sheets ar►d copies of forms and documents patinent to the homebuyer <br />assistance program. Paris Living witl, at the request of the City and individual lenders, visit <br />arca Realtors with che lenders to explain the progam and to encouraSe Realtors to pacticipate. <br />Most of the marketing effort will occur ai thc beginning of the program. If the program is not <br />originariag effectively, additional marketing activities will be performed by Paris Living as <br />directed by the City. D'uect expenses of any additional marketing efforts are solely the <br />responsibility of the City. <br />100 <br />