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B , Impact Fee /Capacity Charges Loan <br /> a . Summary of the Strategy : <br /> To assist eligible persons with the cost of impact fees and / or capacity <br /> charges associated with new construction or connections of existing <br /> housing units to the county water and/ or sewer system . <br /> b . Fiscal Years Covered : FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009 <br /> c . Income Categories to be served : <br /> • Very Low- Income Persons ( between 31 - 50 % of <br /> median income ) <br /> • Low- Income Persons ( between 51 - 808 of <br /> median income ) <br /> • Moderate- Income Persons ( between 81 - 120 % <br /> of median income ) <br /> d . Maximum award : <br /> The County provides loans for the actual amount of impact fees and <br /> capacity charges , not to exceed $ 20 , 000 . 00 per unit for the cost of <br /> impact fees and / or capacity charges . <br /> e . Terms , Recapture , Default : <br /> The applicant must execute a loan agreement with the county indicating <br /> that the applicant will comply with the County ' s Local Housing <br /> Assistance Plan ' s requirements . <br /> Impact fee loans are deferred payment loans whereby repayment of the <br /> entire loan amount occurs at the time that the eligible housing unit is <br /> sold , refinanced with a cash out , or if the assisted owner occupied <br /> unit is occupied by someone other than the original loan recipient . <br /> There will be no interest rate for impact fee / capacity charges loans . <br /> Recaptured funds will be deposited in the county ' s affordable housing <br /> trust fund . <br /> Eligible persons may repay the entire amount of the loan at any time . <br /> f . Recipient Selection Criteria : <br /> Applications will be reviewed based on a first come first review basis , <br /> and applicants will be chosen per thefollowingcriteria <br /> • Income Eligibility <br /> • Employment Verification <br /> • Asset Verification <br /> • Homebuyer Status <br /> • Credit Verification <br /> g . Sponsor Selection Criteria : <br /> Non-profit organizations or for-profit developers only when the impact <br /> fee / capacity charges loan is a match for another housing program , such <br /> as the CDBG Program , Home Investments Partnership ( HOME ) , Low Income <br /> Tax Credit Program ( LITC ) , State Apartment Incentive Loan Program <br /> ( SAIL ) , Multi - Family Mortgage Revenue Bond Program, Community Workforce <br /> Housing Innovation Pilot Program ( CWHIP ) , or other state and federal <br /> housing programs . <br /> 7 <br />