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Agenda - 01-20-2000 - 9g
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Agenda - 01-20-2000 - 9g
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4/16/2010 3:13:33 PM
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BOCC
Date
1/20/2000
Meeting Type
Special Meeting
Document Type
Agenda
Agenda Item
9g
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Minutes - 01-20-2000
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\Board of County Commissioners\Minutes - Approved\2000's\2000
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6. Statement of property value; <br />7. If applicable, a Development Budget identifying the sources and use of all funds in the <br />project; <br />8. An Opinion on Title of the security property from an attorney licensed to practice law in the <br />State of North Carolina; and an <br />9. Estimated Settlement Statement. <br />* In the event property is acquired for rehabilitation and resale without identifying a <br />prospective homebuyer, the non-profit sponsor must agree to identify a qualified <br />buyer and complete the sell of the property to the homebuyer within one hundred <br />twenty days (120) days of the date of acquisition of the property. <br />No facsimiles of submitted documentation will be accepted. To receive preliminary <br />commitment, the following information must be submitted in original form. <br />1. A detailed description of the loan fund request; <br />2. Certification that the buyer meets all eligibility criteria; <br />3. Evidence that primary financing has been obtained by the homebuyer; <br />4. Results of the initial building assessment; <br />5. Statement of property value; and <br />6. If applicable, a Development Budget identifying the sources and use of all funds in the <br />project. <br />Upon receipt and favorable review of these documents, the County will begin the <br />environmental review process and request the review appraisal at this time. The sponsor <br />will be notified that this process has begun and will be given an estimated time of <br />completion. <br />Once this process is complete and the County has determined that the project is eligible for <br />loan funding, the County may issue a preliminary commitment with final commitment <br />issued upon receipt and review of the all of the items identified above under the Submission <br />requirements. <br />In the event, that the project is determined to be non-feasible the sponsor will be notified in <br />writing with the reasons for the determination. <br />Original: August 1997 <br />Revised: January 2000 <br />
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