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ITEM ALLOCATION (Percent of SHIP Monies) <br />Downpayment/Closing <br />Cost Loans for new <br />construction or prior <br />rehabilitation ® 75,000.00 ( 308) <br />Downpayment/Closing <br />Cost Loans for existing <br />homes without rehab <br />Rehabilitation Loans <br />Land Acquisition Loans <br />Land Bank <br />TOTAL <br />® 62,500.00(25 ®8) <br />® 62,500.00(25 ®8) <br />® 71500.00(3 ®8) <br />0.00 ( 08) <br />$ 250,000.00 (1008) <br />* Compliance with the estimated budgetary <br />allocations for the assistance strategies is not a <br />requirement of the IRCLHAProgram. The estimated <br />budget allocations are designed to serve as general <br />guidelines in conducting the IRCLHAProgram. Monies <br />may be shifted between the strategies in order to <br />maximize the assistance provided by the <br />IRCLHAProgram in compliance with the requirements <br />of this Plan. <br />The estimated allocations for FY 1995-1996 or 1996- <br />1997 will be twice the amount of allocations for FY <br />1994-1995. <br />f. The expenditure and encumbrance of funds allocated <br />to the IRCLHATF by the State SHIP Program may be <br />expected toproceed at the following estimated rate <br />for the 1994 - 199f5 ®, the 1995, - 19996 and <br />1996-1997 Fiscal 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 />8 of SHIP Funds <br />Expended or Encumbered <br />208 <br />® 508 <br />® 708 <br />June 30th 1008 <br />(End of 4th Quarter -Fiscal Year) <br />11 <br />