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Activity Number 2 <br />Area of Greatest Need is located <br />south of-0510Stt4cn <br />Street, east of 2�"43rd Avenue, <br />north of 25th Street SW, and west of Old <br />Dixie Highway. Refer to Attachment <br />1 for the results of the proposed <br />target area. <br />Source of Funding <br />Dollar Amount <br />NSP3 <br />Use <br />$975,279.00 <br />(Other funding source) <br />$ <br />Budget <br />Eligible Use C: Land Banking <br />❑ <br />Eligible Use D: Demolition <br />(Other funding source) <br />$ <br />Total Budget for Activity <br />❑ <br />$975,279.00 <br />Decreased number of vacant homes in market and increased average sales <br />price of homes in Area of Greatest Need (AGN). Approximately 10 housing <br />Performance Measures <br />units will be purchased, rehabbed, and re -sold to income qualified <br />households (at or below 120% AMI). Additional housing units may be <br />purchased, rehabbed, and re -sold to income qualified households utilizing <br />CDBG Activity or <br />NSP1 and NSP3 "program income". <br />Activities <br />Projected Start Date <br />6/1/2011 <br />residential property and direct homeownership assistance; and 24CFR570.202: <br />Projected End Date <br />5/31/2014 <br />properties. <br />Name <br />Indian River County <br />Location <br />1801 27th Street <br />Responsible <br />Vero Beach, FL 32960 <br />Organization <br />Administrator Contact Info <br />Robert M. Keating <br />772-2264253 <br />bkeating@ircgov.com <br />Activity Number 2 <br />Activity Name <br />Acquisition and Rehabilitation — Home Ownership (at or below 50%A 1) <br />Select <br />all that apply: <br />❑ <br />Eligible Use A: Financing Mechanisms <br />Use <br />® <br />Eligible Use B: Acquisition and Rehabilitation <br />❑ <br />Eligible Use C: Land Banking <br />❑ <br />Eligible Use D: Demolition <br />❑ <br />Eligible Use E: Redevelopment <br />Purchase and rehabilitation of homes and residential properties that have <br />been abandoned or foreclosed upon, in order to sell such <br />homes and properties (HERA Section 2301(c)(3)(B)). <br />CDBG Activity or <br />Activities <br />Eligible under 24CFR570.201(a), (b), and (n): Acquisition and disposition of <br />residential property and direct homeownership assistance; and 24CFR570.202: <br />Eligible rehabilitation and preservation activities for homes and other residential <br />properties. <br />REVISED NSP3 Abbreviated Action Plan <br />Indian River County —2--117-2-12 <br />Page 10 <br />