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5. Rehabilitation Loans 24 <br />6. Land Bank - Market Purchase 27 <br />7. Land Bank - Tax Deed Purchase 30 <br />C. Estimated Unit Assistance and Prices <br />for the IRCLHAProgram 33 <br />D. IRCLHAProgram Administration/Implementation <br />Activities 34 <br />1. Program Expenditures 34 <br />2. Application Periods 35 <br />3. Application Processing 35 <br />4. IRCLHAProgram Applicant Criteria 36 <br />a. Income Level 36 <br />b. Employment Verification 36 <br />c. Asset Verification 37 <br />d. Mortgage/Rent Verification 37 <br />e. Credit Verification 37 <br />f. Homebuyer Status 37 <br />5. Application Review 37 <br />6. Transfer/Dispersal of Funds for Housing Units 38 <br />a. Housing Unit Inspection/Certificate of <br />Occupancy 38 <br />b. First Mortgage/Subordinated First <br />Mortgage Documentation 39 <br />7. IRCLHAProgram Compliance Monitoring 39 <br />a. Compliance Review Activities 39 <br />i. Property Tax Payment Verification <br />ii. Homeowner/Property Owner <br />Insurance Verification <br />iii. Owner and Eligible Person <br />Occupancy Verification <br />iv. Rental Rate Verification <br />b. Non-compliance Notification 40 <br />8. Assisted Housing Unit Resale 41 <br />9. Data Development and Compilation 42 <br />11 <br />