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Agenda - 12-12-2017 - 6-b - Amendment to Community Home Trust’s Affordable Housing Bond Development Agreement
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Agenda - 12-12-2017 - 6-b - Amendment to Community Home Trust’s Affordable Housing Bond Development Agreement
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12/8/2017 7:07:58 AM
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12/8/2017 7:06:52 AM
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BOCC
Date
12/12/2017
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6b
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14 <br /> EXHIBIT B <br /> Project Budget <br /> Second Mortgage Assistance $200,000 <br /> Source of Funds <br /> Orange County Affordable Housing Bond Program $200,000 <br /> Owner may not request disbursement of funds under this Agreement until the funds are needed <br /> for payment of eligible costs.. The amount of each request must be limited to eligible costs as <br /> determined by the County's Housing and Community Development Department("OCHCD"). <br /> Funds may be shifted between line items of the Project without prior approval of the County only <br /> to the extent of"Minor Adjustments," defined as actions which do not result in a change in the <br /> Project and so long as such Minor Adjustments do not exceed ten percent (10%) of the line item <br /> total from which the funds are being removed or to which the funds are being added, there is no <br /> increase to the Total Renovation Cost specified in the above budget, and there are only minor <br /> changes to the Plans and Specifications. <br /> 18 <br />
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