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Maximum Current Annual <br />Family Income: <br />Indian River <br />Martin <br />�St. Lucie <br />-NON-TARGETED <br />AREAS <br />1-2 Family 3 <br />+ Family <br />Members <br />Members <br />29,500 <br />33,925 <br />29,500 <br />33,935 <br />29,500 <br />33,925 <br />TARGETED AREAS <br />1-2 Family 3 + Family <br />Members Members <br />N/A N/A <br />N/A N/A <br />35,400 41,300 <br />Maximum Acquisition <br />NON -TARGETED AREAS TARGETED AREAS <br />Prices: <br />New Existing New Existing <br />Indian River <br />84,870 72,540 N/A N/A <br />Martin <br />84,870 72,540- N/A N/A <br />St. Lucie <br />84,870 72,540 103,730 88,660 <br />Homebuyer <br />Origination Fee: <br />3.50%, plus $250 application fee <br />Lender <br />:Commitment Fee: <br />2% for spot funds <br />2.50% for builder reservations <br />Lender <br />Origination Profit: <br />1.5% <br />Builder Reservations: <br />A maximum of 75% of each lender's allocation can be <br />reserved for builders. <br />No more than 50% of total program moneys can be reserved <br />for builders. <br />No more than 10% to any one builder. <br />Commitment Period: <br />50% of program allocation -within 6 months <br />75% of program allocation within 9 months <br />100% of program allocation within 12 months <br />Master Servicer: <br />Servicing Released; Master Servicer not determined. <br />STATE, COUNTY AND MUNICIPAL BONDS...., <br />Commissioner Scurlock explained that Escambia County's <br />program would be among the alternatives for revenue bonds that <br />the Finance Advisory Committee would be bringing to the Board in <br />the near future, and wished to table this item for 3 weeks. <br />ON MOTION by Commissioner Wheeler, SECONDED by <br />Commissioner Bowman, the Board unanimously tabled <br />this discussion until the meeting of January 23, 1990. <br />49 <br />JAN 21990 <br />BOOK ki <br />