Use of HOME Funds. (1) The CHDO shall perform the projects or tasks related to its allocation of HOME funds according to the schedule and within the budget outlined in Attachment A. Attachment A is hereby made a part of this Agreement, as it now reads or as it may be modified by the parties.
Use of HOME Funds. The GRANTOR agrees to provide the DEVELOPER an amount not to exceed $40,000 from its Federal Fiscal Year FY 2007-2008 HOME Community Housing Development Organization (CHDO) set-aside to be used for providing down payment assistance to low- to moderate-income households for the acquisition of lease-purchase homes. The DEVELOPER shall use the Funds in accordance with the HOME program guidelines outlined in 24 CFR Part 92 in carrying out the PROGRAM in the manner as described below:
Use of HOME Funds. The HOMEOWNER and the CITY agree that the HOME assistance will be used to pay all of the costs of rehabilitating or reconstructing the HOMEOWNER’s home.
Use of HOME Funds. HOME funds shall be used by CHDO for the purposes and objectives stated in Schedule "A" of this Agreement, and for no other purpose(s).
Use of HOME Funds. The HOMEBUYER agrees that the HOME assistance will be used to lower the construction cost of the home by providing a developer subsidy to the AWARDEE to pay part of the cost of construction. This will reduce the sales price of the home to the HOMEBUYER and reduce the total amount the HOMEBUYER will be required to borrow in order to purchase the home.
Use of HOME Funds. Under the terms and conditions of this Agreement, the City agrees to provide the Subrecipient an amount not to exceed Two Hundred Twenty Thousand Dollars ($220,000.00) from its federal Fiscal Year 2014-15 HOME allocation to implement and operate the City’s TBRA program to provide tenant based rental assistance for permanent housing to approximately 20 low-income families who are chronically homeless, as defined by HUD. Subrecipient must utilize the funds in accordance with the City’s TBRA Policies and Procedures attached hereto as Exhibit “A” and the Scope of Services attached hereto as Exhibit “B”, which includes the Subrecipient’s scope of services, tasks to be performed and a schedule for completing the tasks. Subrecipient will use the proceeds in accordance with the Budget attached hereto as Exhibit “C”.
Use of HOME Funds. The GRANTOR agrees to provide the SUBRECIPIENT an amount not to exceed $150,000 from its Federal Fiscal Year 2014-2015 and 2015-2014 HOME Program funding to be used for providing Down Payment Assistance to households at or below 80 percent of the Area Median Family Income as defined by the Department of Housing and Urban Development (HUD) on an annual basis using the Section 8 (Part V) method as part of the DPA PROGRAM. In addition, the SUBRECIPIENT may request an amount not to exceed $27,671.50 for eligible project delivery costs as described in 24 CFR 92.207. The SUBRECIPIENT shall use the Funds in accordance with the HOME program guidelines outlined in 24 CFR Part 92 in carrying out the DPA PROGRAM in the manner described below:
Use of HOME Funds. The CHDO covenants and agrees to use the HOME Funds to pay for Eligible Operating Costs associated with the Eligible Operating Activities.
Use of HOME Funds. (1) HFNH shall perform the projects or tasks related to its allocation of HOME funds according to the schedule and within the budget outlined in Attachment A, entitled, “Scope of Services.” Attachment A is hereby made a part of this Agreement.
Use of HOME Funds. 1. HOME Funds as Loan. Borrower understands that the HOME Funds are provided as a loan. A loan provided under the Town’s Home Buyer Assistance Program is a second mortgage that repayment is as follows: Principal is repayable at no interest on a declining, sliding scale, of 20% per year for five years, and being more specifically outlined as follows: • In the event the home is sold in the first year (between the dates of , 2014, and December, 31, 2014) $ ; • In the event the home is sold in the second year (between the dates of January 1, 2015, and December 31, 2015) $ ; · In the event the home is sold in the third year (between the dates of January 1, 2016, and December 31, 2016) $ ; • In the event the home is sold in the fourth year (between the dates of January 1, 2017, and December 31, 2017) $ ; • In the event the home is sold in the fifth year (between the dates of January 1, 2018, and December 31, 2018) $ . In the event Borrower does not sell the property prior to January 1, 2019, this loan shall be deemed null and void
