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5 <br />Terms of Assistance <br />All CDBG financial assistance will be in the form of a deferred loan that is <br />proportionally forgiven over the applicable term of recapture. <br />CDBG Assistance <br />$12,000 and less <br />$12,000 and $16,000 <br />$16,001 and $20,000 <br />$20,001 and more <br />Recapture Period <br />5 years <br />6 years <br />7 years <br />8 years <br />All deferred loans will be secured with a note and deed of trust recorded in the <br />Orange County Register of Deeds. <br />Target Number of Substandard Units <br />This program will target the repair of an estimated 10 substandard dwelling <br />at an average cost of $36,000 per unit. No clearance or relocation activities <br />will be necessary. <br />Budget <br />Housing Rehabilitation $360,000 <br />Program Administration $ 40,000 <br />Program Schedule <br />Begin program implementation April 1, 2011 <br />Complete program by September 30, 2013 <br />