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(1) Pursuant to NSP requirements, the county will sell houses acquired with NSP funds to qualified low and moderate income households. In so doing, the county will comply with the resale property disposition criteria in the county's CDBG NSP HAP or NSP Program Manual (as applicable). (2) To be eligible to purchase an NSP house, a buyer must meet the qualification standards listed in the HAP. Specifically, a potential buyer must have an income in the low or moderate income category, have the minimum downpayment amount, and qualify with a financial institution for a principal mortgage in an amount adequate to purchase an NSP house with county/NSP gap financing assistance. For each prospective NSP buyer, the county will conduct an income qualification assessment. NSP houses will then be sold on a first come/first served basis. (3) The county will provide notice of intent to sell NSP houses in several ways. These may include, but not be limited to, newspaper advertisements, brochures, multiple listing service, and website notice. (4) Once the rehabilitation of an NSP house is complete, the county will have the rehabilitated house appraised. The lower of the appraised value or the total of the acquisition, maintenance and rehabilitation cost of the house will then be the house's selling price. Once the selling price is set, the county will sell the house at the selling price to the first qualified buyer. If, however, a new appraisal indicates that the house's value is less than the selling price, the house will be sold for the new appraised value. The manner of acquisition will be by warranty deed from the county. (5) All sales of NSP properties will comply with the county's comprehensive plan and zoning. (6) The chairman of the board of county commissioners is hereby authorized to execute deeds and other documents associated with the sale of NSP properties. (Ord. No. 2012-006, § 2, 5-1-12; Ord. No. 2014-008, § 1(App. A), 4-15-14) Editor's note— Former § 308.15. F:\Community Development\SHIP\AHAC- Affordable Housing Advisory Committee\Resolutions and Ordinances\2019 Resolution and Ordinance Revisions\Final Ordinance\APPENDIX A - CHAPTER 308 - Proposed AHAC Membership Edits.doc Page 8