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3 <br />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, build, <br />market and assist homebuyers in the purchase of new housing within targeted areas. The <br />pilot program will be designed to encourage public/private housing investment in a <br />specified and targeted geography on vacant parcels based on development plans that align <br />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 property <br />and surrounding neighborhood <br />(3)Offer financial support in the form of gap financing for the construction of new single <br />family and/or duplex residential structures <br />(4)Support the opportunity for individuals and families to live in safe and affordable <br />housing. <br />The program shall require: <br />(1)A maximum of one subsidy per residential structure <br />(2)The per structure construction subsidy shall not exceed $99,299 (Ninety- <br />nine thousand, two-hundred ninety-nine dollars) as per the house <br />proformas that have been submitted to and approved by the City. <br />(3)Property must be owner-occupied single family or owner-occupied duplex <br />residential structures as per the house designs that have been submitted to <br />and approved by the City. <br />(4)Development is to occur on the following parcels located on Harrison <br />Avenue: 018-1070-2981, 018-1070-2982, 018-1070-2983, 018-1070- <br />2986, and 018-1070-2987. <br />(5)Design of residential structure and site plans to be approved by the City.