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EXHIBIT A <br />Program Description <br />Pilot Housing Subsidy Program <br />During the term of this Agreement, the Organization will establish a program in <br />conjunction with the City's Department of Community Investment, to promote, <br />build, market and assist homebuyers in the purchase of new housing within <br />targeted areas. The pilot program will be designed to encourage public/private <br />housing investment in a specified and targeted geography on vacant parcels based <br />on development plans that align with the neighborhood and City objectives. <br />The program goals are to: <br />(1) Develop vacant City -owned and Organization -owned lots <br />(2) Offer the opportunity to improve and maintain the character and value of the <br />property and surrounding neighborhood <br />(3) Offer financial support in the form of gap financing for the construction of <br />new single family and/or duplex residential structures <br />(4) Support the opportunity for individuals and families to live in safe and <br />affordable housing. <br />The program shall require: <br />(1) A maximum of one subsidy per residential structure <br />(2) The per structure construction subsidy shall be Seventy -One <br />Thousand Four Hundred Twenty -Eight Dollars ($71,428.00). <br />(3) Property must be owner -occupied single family or owner -occupied <br />duplex residential structures <br />(4) Development is to occur first on land owned by Cross Community <br />Inc. and approved by City <br />(5) Design of residential structure to be approved by the City <br />