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<br />No extensive program marketing is anticipated at this time since the <br />number of families on the waiting list at the present time far exceed <br />available resources. <br />Terms of Assistance <br />All CDBG financial assistance evil! be in the fiorm of a deferred loan that is <br />proportionally forgiven over the applicable term of recapture. <br />CDBG Assistance <br />$15,000 and less <br />$15,000 and $25,000 <br />$25,000 and above <br />Recapture Period <br />5 years <br />10 years <br />15 years <br />All deferred loans will be secured with a note and deed of trust recorded in <br />the Orange County Register of Deeds. <br />Taraet Number of Substandard Units <br />This program will target the repair of an estimated 14 substandard <br />dwelling units at an average costs of $25,000 per 'unit. No clearance <br />or relocation activities will be necessary. <br />Bu, dget <br />Housing Rehabilitation $360,000 <br />Program Administration $ 40,000 <br />Program Schedule. <br />Submit application March 30, 2001 <br />Receive funding decision May 3D, 200"1 <br />.Begin program implementation June 1, 2001 <br />Complete program by December 31, 2D03 <br />