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(b) The Agency has approved a set-aside of up to $160,000 of SFR funds for the Member. The <br /> Member may reserve funds from this set-aside on a unit-by-unit basis in accordance with Program <br /> Guidelines (PG) 3.2.2 & 3.2.3, until December 31, 2012. Any funds from this set-aside not <br /> reserved by that date shall be de-obligated and remain in the SFR pool for reallocation to those <br /> Members seeking funding for additional units. <br /> (c) Funds for additional units may be reserved from the pool,depending on availability,on a unit-by- <br /> unit,first come,first served basis in accordance with PG 3.2 up until December 31,2013. All units <br /> must be completed and closed out by June 30, 2014. <br /> PART B: PROGRAM FUNDING <br /> Section 2: Grant Amount <br /> The Agency has approved a set-aside of SFR funds from the SFR pool to Orange County in <br /> the principal amount of$160,000 (One Hundred Sixty Thousand Dollars). SFR funds are <br /> federal funds from the HOME Investment Partnerships Program. Although the Agency has <br /> approved a set-aside for a specific amount to the Member, the Member also has the <br /> opportunity to access additional funds from the SFR pool (depending upon fund availability) <br /> once they have met the threshold requirements outlined in SFRI 1 PG 3.2.2. <br /> Section 3: Use of Funds <br /> (a) SFR funds shall be used to provide assistance to low-income homeowners for: the repair and <br /> rehabilitation of their homes;the installation of energy-efficiency measures to decrease energy use <br /> in the unit; temporary relocation of households to standard housing, at reasonable cost, if in <br /> accordance with an Agency-approved written relocation policy; and lead-based paint evaluation <br /> and remediation. SFR funds shall pay for the hard and soft costs associated with housing <br /> rehabilitation of single-family owner-occupied dwelling units;making the units safe,decent and <br /> sanitary. SFR assistance shall be in the form of a loan to the homeowner,which covers the hard <br /> costs associated with the rehabilitation of the unit. SFR assistance used to pay soft costs <br /> associated with the rehabilitation of the unit shall be in the form of a grant to the homeowner. <br /> Page 3 of 12 <br />