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REVISED NSP3 Abbreviated Action Plan <br />Indian River County -2 11 117 2 12 <br />Page 8 <br />❑ <br />Eligible Use C: Land Banking <br />❑ <br />Eligible Use D: Demolition <br />n <br />Eligible Use E: Redevelopment <br />CDBG Activity or <br />Activities <br />Purchase and rehabilitation of homes and residential <br />been abandoned or foreclosed upon, in order to sell <br />homes and properties (HERA Section 2301(c)(3)(B)). <br />Eligible under 24CFR570.201(a) (b), and (n): Acquisition <br />residential property and direct homeownership assistance; <br />24CFR570.202: Eligible rehabilitation and preservation <br />and other residential properties. <br />properties that have <br />such <br />and disposition of <br />and <br />activities for homes <br />National Objective <br />Low Moderate Middle Income Housing (LMMH) <br />Activity Description <br />The <br />NSP3 <br />to <br />identified <br />Estate <br />Uniform <br />If the <br />eligible <br />That <br />a 1st <br />purchaser <br />funds <br />mortgage <br />assistance. <br />rate. <br />developer. <br />All <br />time <br />property, <br />this <br />are <br />funds <br />time <br />All <br />homebuyer <br />To <br />employees <br />with <br />in the <br />housing <br />County <br />funds <br />income <br />Owned <br />County <br />to <br />developer <br />mortgage <br />may <br />The <br />properties <br />period <br />Abbreviated <br />assisted <br />will <br />period. <br />homebuyers <br />the maximum <br />small <br />vicinity <br />target <br />Relocation <br />receive <br />to <br />covering <br />as <br />be <br />partner <br />will <br />to <br />qualified <br />selects <br />obtain <br />be used <br />The <br />exact <br />receiving <br />restriction <br />defined <br />with <br />recaptured <br />counseling <br />that <br />businesses <br />of <br />select <br />purchase, <br />households <br />area. <br />(REO) and <br />Act <br />a <br />a reasonable <br />will take <br />to each <br />a first <br />to provide <br />downpayment, <br />second <br />terms <br />under <br />Action <br />NSP funds <br />will be <br />extent <br />reside <br />that <br />NSP3 projects <br />organizations <br />one or more nonprofit <br />rehabilitate and re <br />(at or below <br />The housing units purchased <br />other NSP elgible <br />(URA) requirements. <br />"developer" housing <br />developer's <br />ownership of each <br />home purchaser using <br />mortgage from <br />a deferred payment, <br />closing <br />mortgage will have <br />will be negotiated between <br />NSP funding will have <br />on the deed and/or <br />the "Long -Term <br />Plan. The County will <br />during the affordability <br />if the property is <br />required to have a <br />from a HUD approved <br />feasible, the County <br />in the vicinity of NSP3 <br />are owned and <br />The County <br />to provide opportunities <br />-sell <br />properties <br />a <br />cost, <br />a <br />recorded <br />sold <br />minimum <br />operated <br />will <br />120% <br />partner, <br />fee <br />housing <br />its <br />financial <br />zero <br />Affordability" <br />will <br />funded <br />housing <br />foreclosed <br />of <br />for service <br />own <br />subordinated <br />and gap <br />percent <br />the <br />a minimum <br />monitor <br />time <br />during <br />counseling <br />provide <br />by <br />work <br />partners <br />AMI) <br />will <br />that <br />that <br />unit <br />funds <br />institution. <br />County <br />mortgage <br />the <br />the <br />of eight <br />projects <br />with <br />to <br />housing <br />within <br />be vacant <br />do not <br />partner <br />performed. <br />and may <br />or require <br />NSP <br />second <br />financing <br />(0%) interest <br />and <br />affordability <br />on <br />definition <br />properties <br />period. NSP3 <br />affordability <br />hours <br />agency. <br />for hiring <br />or contract <br />persons residing <br />its NSP3 <br />for local <br />use <br />units <br />the <br />Real <br />trigger <br />will be <br />provide <br />the <br />the <br />the <br />of <br />that <br />of <br />of <br />REVISED NSP3 Abbreviated Action Plan <br />Indian River County -2 11 117 2 12 <br />Page 8 <br />