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1 9 <br /> J. Impact <br /> IIShort-term Impact <br /> The project will have immediate short-term inpact by <br /> II providing self-help housing opportunities for a four low income <br /> families ( 16 persons) . This program will be the first in which <br /> the County addresses the affordable housing shortage through new <br /> II construction. <br /> Long-term Impact <br /> 11 The proposed project will ultimately provide <br /> homeownership opportunities to 35 families with a adequate <br /> recreation facilities as well as natural open space. Each <br /> II homeowner will be responsible for maintaining his own yard , thus <br /> giving him some pride in his accomplishments through sweat <br /> equity and financial commitment ( the commitment to making <br /> ik <br /> II monthly house payments) . As mentioned earlier this partnership <br /> may be the start of other locally initiated cooperatives designed <br /> to provide decent , safe and affordable housing to low and <br /> ,moderate income families in Orange County. <br /> II <br /> I/ K. Use of Non-CDHG Funds <br /> The source , use and amount of non-CDBG funds is provided <br /> below: <br /> 1 . Orange County Habitat for Humanity <br /> II Land <br /> Based on comparable market sales data in recent <br /> appraisals of this 72 acre subdivision, the undeveloped <br /> land has a market value of $2,653 per . <br /> g ac_r s <br /> tau.- @ $2,653 $21 ,224 <br /> IIEstimated Labor Costs <br /> II --Labor for construction is valued by subtracting <br /> the sales price for the home from appraised value. <br /> II Estimated Fair Market Value (FMV) $60,000 <br /> 500 <br /> Sales Price per Unit 37,500 <br /> IIDifference between FMV and Sales 22,500 <br /> Estimated Labor Contribution = 4 @ $22,500 = $90,000 <br /> li <br /> I <br /> I <br />