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f. The expenditure and encumbrance of funds allocated <br />to the IRCLHATF by the State SHIP Program may be <br />expected to proceed at the following estimated rate <br />for both the 1992 - 1993 and the 1993 - 1994 Fiscal <br />Years. <br />Date <br />September 30th <br />(End of 1st Quarter) <br />December 31st <br />(End of 2nd Quarter) <br />March 31st <br />(End of 3rd Quarter) <br />June 30th <br />(End of 4th Quarter - <br />Fiscal Year) <br />The listed timeframes are an estimation of the rate <br />of expenditure and encumbrance of funds allocated <br />by the State SHIP Program. The actual rate of <br />expenditure and encumbrance may be greater than or <br />less than the rate indicated. <br />5. Housing Unit Sales/Purchase Price <br />The expected average sale/purchase price for new and existing <br />housing units to be assisted via the IRCLHAProgram are listed <br />as follows. <br />Unit Size <br />1 bedroom <br />2 bedroom <br />3 bedroom <br />4 bedroom <br />Price in Dollars <br />New Existing <br />50,000.00 401050.00 <br />60,000.00 <br />75,000.00 <br />92,000.00 <br />55,000.00 <br />67,000.00 <br />82,000.00 <br />At no time shall the sale/purchase price for new or existing <br />housing units provided or acquired with assistance from the <br />IRCLHAProgram shall exceed ninety percent (90%) of the median <br />area purchase price for new and existing housing units for <br />Indian River County. These median area purchase prices shall <br />be the amounts established each year by the United States <br />Department of Treasury, in accordance with Section 3(b)2 of <br />