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5 <br />In the event that property rehabilitation is not necessary, the sponsor will certify that the dwelling <br />meets Section 8 Housing Quality Standards (HQS) prior to the disbursement of loan funds. <br />Kuy1ronmotal i m nt <br />All prospective property and proposed rehabilitation work must be assessed to determine any <br />potential environmental impacts to the community. At a minimum, each property will be <br />assessed to determine historic significance by collaborating with the local Historic Property <br />Commission or the State Department of Cultural History. If the property is of historic <br />significance, the applicable guidelines of the local or state governments must be followed in <br />the acquisition/rehabilitation project. The County will have primary responsibility for <br />completing this task but may solicit the assistance of the sponsor as necessary. <br />Environmental review will begin at the time that the initial request for loan funds is <br />submitted to the County. <br />The value of identified property to be acquired by a homebuyer must have a value that does not <br />exceed 95% of the area median purchase price for that type of housing. HUD makes these <br />purchase value limits available to all participating jurisdictions each year. <br />The before and after rehabilitation value must be established by: <br />• An appraisal by a qualified independent appraiser; <br />• Tax assessments may be used to establish value, but only if they are current and can <br />be computed at 100% of market value. <br />• Transfer of property that includes rehabilitation requires an appraisal. <br />Values established will be reviewed by qualified review appraiser at the expense of the <br />County. If the review appraiser does not accept an appraisal, it will be necessary to obtain <br />a second full appraisal. <br />The property sales price cannot exceed the established property value. <br />Responsibilities h Non-Profit Organizatign <br />The organization sponsoring, developing, or serving as an advocate for the potential homebuyer <br />must provide: <br />1. A detailed description of the loan fund request; <br />2. Certification that the buyer meets all eligibility criteria;* <br />3. Evidence that primary financing has been obtained by the homebuyer; <br />4. A Certification signed by the sponsor and the homebuyer applicant that the program <br />guidelines have been fully explained; * <br />5. Copies of all building inspection reports;