|
APPENDIX
<br />SCOPE OF SERVICES / PROJECT DESCRIPTION
<br />COMMUNITY HOMEBUYERS CORPORATION, INC.
<br />HOMEOWNERSHIP ASSISTANCE PROGRAM
<br />16-JC-04
<br />1/01/2016-12/31/2017
<br />PURPOSE AND INTENT
<br />The City of South Bend, in creative and affirmative partnership with City residents, private enterprise, neighborhood
<br />and community organizations, and the Federal Government, is committed to the national housing goal of "a decent
<br />home and a suitable living environment' for all persons. In attempting to achieve these objectives, the City of South
<br />Bend has identified this project to address "decent housing". The City of South Bend, in partnership with
<br />Community Homebuyers Corporation, Inc., will utilize project funds to leverage affordable home financing for
<br />eligible low and moderate income homebuyers.
<br />TARGETED GOALS
<br />The targeted goal for the Homeownership Assistance Program (16-JC-04) is to assist 10 or more low and
<br />moderate income first time homebuyers by providing forgivable second mortgages of 20% of purchase price and/or
<br />closing cost assistance ($1,000).
<br />If, for any reason, there is difficulty in achieving this goal, the Agency must notify the Department of Community
<br />Investment of the problem(s) so the matter(s) can be rectified in a timely manner.
<br />INCOME GUIDELINES
<br />Households with income in the low or moderate income range (as defined from time to time by HUD) are eligible
<br />applicants for assistance under this activity. Annual limits as of March 28, 2016 are:
<br />FY 2016 CDBG Income Limits (Effective 3/28/16)
<br />1-Person
<br />Household
<br />2-Person
<br />Household
<br />3-Person
<br />Household
<br />4-Person
<br />Household
<br />5-Person
<br />Household
<br />6-Person
<br />Household
<br />7-Person
<br />Household
<br />8-Person
<br />Household
<br />30%AMI
<br />12,050
<br />16,020
<br />20,160
<br />24,300
<br />28,440
<br />32,580
<br />35,450
<br />37,700
<br />50%AMI
<br />20,000
<br />22,850
<br />25,700
<br />28,550
<br />30,850
<br />33,150
<br />35,450
<br />37,770
<br />80%AMI
<br />32,000
<br />36,600
<br />41,150
<br />45,700
<br />49,400
<br />53,050
<br />56,700
<br />60,350
<br />(Median income for a family of four: $57,100)
<br />ACTIVITY SERVICE AREA
<br />The activities under this contract must take place within the City of South Bend.
<br />TIMETABLE
<br />Costs may be incurred when the agency is notified to proceed by the Department of Community Investment. This
<br />activity shall commence on January 1, 2016, and shall continue to and include December 31, 2017. All funds
<br />unobligated by 12/31/17 and all funds unspent by 1131118 will be subject to reprogramming at the option of the City.
<br />PROGRAM BUDGET
<br />The total CDBG budget for the Community Homebuyers Corporation, Inc. Homeownership Assistance
<br />Project shall not exceed $200,000.00.
<br />COST CATEGORIES
<br />Generally, costs must be necessary, reasonable and directly related to the grant. In accordance with the Statement of
<br />Purpose and Intent, eligible cost categories include personnel wages and fringe benefits associated with the
<br />administration of CDBG activities listed above. Time cards must be submitted indicating time spent on CDBG
<br />activities before reimbursement will be approved.
<br />Appendix I - Scope of Services Page 1
<br />
|