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page 2 <br /> Leafland. Funds are recommended for sidewalk repair and <br /> replacement in an amount to meet urgent safety needs . <br /> Cost : <br /> School based links : $15, 000 <br /> Rehabilitation/replacement urgent need: $50, 000 <br /> Total : $65, 000 <br /> 3 . Summer Paint Program <br /> The City Council had previously requested funds be budgeted <br /> for the operation of a summer paint program. The staff was <br /> able to operate the program during the summer by allocating <br /> funds from a housing program line item. The program <br /> provides up to 20 gallons of free exterior paint to low and <br /> moderate income homeowners or tenants . The establishment of <br /> the fund in the reprogramming will affinn council' s intent <br /> to have operated the program during the past summer. <br /> Program costs include the cost of paint and program <br /> administration. <br /> Cost: $20, 000 <br /> 4 . Emergency Repair Program <br /> At the time of CDBG program review, City Council asked staff <br /> to allocate resources to the emergency program. The <br /> emergency repair program provides up to $2, 500 to correct an <br /> immediate safety and or health violation identified by <br /> inspectors . Participants must meet low or very low income <br /> guidelines . A total of $20, 000 is allocated to this <br /> activity consistent with prior Council action. <br /> Cost : $25, 000 <br /> 5 . First Time Homebuyer Program <br /> The program provides a second mortgage and a reduced <br /> interest rate to low and moderate income first time <br /> homebuyers . Homeowners provide a 5 percent down payment, a <br /> 70 percent first mortgage is provided by a local lender, and <br /> 25 percent second mortgage at a four percent interest rate <br /> is provided by the program. The property is subject to <br /> annual inspections for the life of the loan. Additional <br /> funds are warranted for the program to meet demand through <br /> the end of the year. <br /> Cost : $50, 000 <br /> page 3 <br /> 2 <br />