R2003-30 AUTHORIZING AGREEMENTS - Laserfiche WebLink

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remain affordable to low- and moderate-income persons for not less than the applicable period for the amount of assistance provided. H. Resale/Recapture Provisions To ensure affordability,NWRAPS must impose either resale or recapture requirements on the housing unit as outlined in 24 CFR 92.254 (a)(5). Said requirements shall be imposed prior to the transfer of the property to the homebuyer. NWRAPS shall inform the City at that time as to which requirement (resale or recapture) has been imposed, and , shall provide the City with a copy of the lien/deed restrictions attached to the transaction. , VI. PROJECT PROCEEDS Upon completion of each project,NVVRAPS shall report the amount of all project proceeds generated by activities carried out with HOME funds made available under this contract, and the use to which the HOME proceeds will be allocated. As set forth in 24 CFR 92.300(a)(2),the use of HOME proceeds by NWRAPS shall be only for HOME-eligible or other housing activities to assist low-and moderate-income persons. Up to ten percent(10%) of the HOME proceeds may be used for CHDO operating and administrative expenses. HOME proceeds must be committed or expended within one year of the date they are generated (e.g., date of sale of a HOME-assisted rehabilitation or construction project), or the City of Decatur may, at its discretion, require that they be returned to the City for use in its HOME-funded activities VII. TECHNICAL ASSISTANCE The City shall provide technical assistance to NWRAPS upon request, at no additional cost, to guide the organization in the proper administration of the HOME funds. VIII. AFFIRMATIVE ACTION A. Affirmative Marketing As specified in 24 CFR 92.351,NWRAPS will develop and adhere to an Affirmative Marketing plan for its projects. This will consist of actions to provide information and otherwise attract eligible persons in the housing market area to the available housing without regard to race, color, national origin, sex, religion, familial status or disability. The Affirmative Marketing plan shall be submitted to the City prior to the payout of any reimbursement requests under this Agreement. 5