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2011-014
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Last modified
1/18/2017 12:00:45 PM
Creation date
10/1/2015 1:29:55 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Grant
Approved Date
01/18/2011
Control Number
2011-014
Agenda Item Number
12.A.1.A
Entity Name
Florida Department of Community Affairs
Subject
Neighborhood Stabilization Program
Housing Assistance Plan Relocation Revised 1/18/2011
Alternate Name
DCA NSP
Supplemental fields
SmeadsoftID
9155
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• The current zoning of the property will be researched to verify that the property is <br />properly zoned for the intended use. <br />The property closing will take place at a title company or attorney's office. <br />For each property acquired with NSP funds and sold to a qualifying household, a <br />promissory note and mortgage will be placed on the property. The mortgage will be for <br />fifteen (15) years at a zero interest rate. If the term of the mortgage has not been <br />completed at time of sale of the property, the mortgage will be due and payable to the <br />County when title to the property transfers from the parties on the mortgage. <br />For each property acquired with NSP funds and rented to a qualifying household, a deed <br />restriction will be placed on the property requiring that the property remain affordable <br />and rented to a household in the specified Area Median Income (AMI) group for a <br />minimum of fifteen (15) years. <br />If the local government decides not to purchase a property after the local government has <br />entered into a contract to purchase the property, a letter notifying the property owner of <br />the local government's decision not to purchase the property will be sent by certified mail <br />or other form of delivery with verifiable evidence of delivery to the property owner. <br />4. RESALE PROPERTY DISPOSITION <br />The disposition of properties acquired in the resale strategy will be as follows: <br />1. The County, the County's Sub -recipient or the County's Developer will advertise <br />for applicants. <br />2. Applicants will complete a NSP CDBG home purchase application and submit <br />that complete application to the County's Sub -recipient or the County's <br />Developer (as applicable). That application shall include an acceptable first <br />mortgage pre -qualification letter from an eligible first mortgage lender and any <br />other required information. <br />3. Applicants who submit a complete NSP CDBG application package will be <br />considered "qualified homebuyers" to participate in the NSP CDBG home <br />purchase program. Qualified homebuyers will be ranked on a first qualified, first <br />complete application basis. <br />4. When a group of housing units are ready for resale to qualified homebuyers, a <br />meeting will be held with qualified homebuyer applicants to review general <br />requirements. At that meeting, a list of the housing units will be provided to the <br />homebuyers. <br />5. A first look period for a minimum of fifteen calendar days will be given for the <br />potential qualified homebuyers to view the available properties. A minimum of <br />one open house will be scheduled for each property during the first look period <br />6. During the first look period, qualified homebuyer applicants may submit a list of <br />the houses they would like to purchase in priority order. <br />7. Based on the lists received from the qualified homebuyer applicants, the County's <br />Sub -recipient or the County's Developer (as applicable) will tabulate and develop <br />a housing unit sale prioritization list and will notify each potential homebuyer of <br />11 <br />
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