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i i Request for Release of Funds U . S . Department of Housing 3 / ate/ OMB No . 2506-0087 and Urban Development 3 . ( exp . 12/31 /2007) and Certification Office of Community Planning ( and Development This form is to be used by Responsible Entities and Recipients ( as defined in 24 CFR 58 . 2 ) when requesting the release of funds , and requesting the authority to use such funds , for HUD programs identified by statutes that provide for the assumption of the environmental review responsibility by units of general local government and States . Public reporting burden forthis collection of information is estimated to average 36 minutes per response , including the time for reviewing instructions , searching existing data sources , gathering and maintaining the data needed , and completing and reviewing the collection of information . This agency may not conduct or sponsor, and a person is not required to respond to , a collection of information unless that collection displays a valid OMB control number. Part 1 . Program Description and Request for Release of Funds (to be completed by Responsible Entity) 1 . Program Title (s ) 2 . HUD/State Identification Number 3. Recipient Identification Number Neighborhood Stabilization Program 3 , ( optional) Communitv Development Block Grant ® B - 11 - UN - 12 - 0022 4 . OMB Catalog Number(s) 5 . Name and address of responsible entity Indian River County 1801 27th Street 6 . For information about this request, contact ( name & phone number) Vero Beach , FL 32960 - 3388 Robert Keating , Community Develop . Director _C772)-22.6=12.54 7 . Name and address of recipient ( if different than responsible entity) 8 . HUD or State Agency and office unit to receive request HUD Jacksonville Florida Field Office The recipient(s ) of assistance under the program (s) listed above requests the release of funds and removal of environmental grant conditions governing the use of the assistance for the following 9 . Program Activity ( ies)/Project Name ( s) 10. Location ( Street address , city , county, State) Neighborhood Stabilization Program 3 , Proposed Activities within Unincorporated Community Development Block Grant Indian River County 11 . Program Activity/Project Description Activities 01 and 02 , Acquisition and Rehabilitation - Single Family - These activities include the following : • The purchase of ten ( 10 ) foreclosed single family housing units . The housing units acquired are to be rehabilitated and sold to households who have incomes less than 120 % of Area Median Income ; • The purchase of three ( 3 ) foreclosed single family housing units . The housing units are to be rehabilitated and sold to households whose total household income is at or below 50 % of Area Median Income . Unmet Needs : Activities 01 and 02 , Acquisition and Rehabilitation - Single Family - The purchase of eleven ( 11 ) additional foreclosed single family housing units . The housing units are to be rehabilitated and sold to households who have incomes less than 120 % of Area Median Income ( some of these housing units may be sold to households whose total household income is at or below 50 % of Area Median Income ) . Funding sources and projected dollar amount for the project period : The estimated NSP3 CDBG cost of the activities is budgeted at $ 975 , 279 . 00 in Acquisition and Rehabilitation - Single Family Homeownership at or below 120 % AMI , $ 375 , 107 . 00 in Acquisition and Rehabilitation - Single Family Homeownership at or below 50 % AMI , and $ 150 , 042 . 00 in Program Administration . A total of $ 1 , 500 , 428 is the NSP3 CDBG grant amount . Number of years this strategy covers : 2011 through 2015 ( 5 years ) Previous editions are obsolete form HUD-7015 . 15 ( 1 /99)