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4 <br />C. PROJECT OVERVIEW <br />1. Funding Request <br />a. Deferred payment loan funds S <br />b. Amortizing loan funds S <br />c. Grant 5 250,000 <br />d. Will program income result? Yes x No <br />How will program income be used? <br />2. Project description summary <br />a. Total number of units in this phase of the project: 25 <br />- Number in new construction 25 <br />-Number in rehabilitation or conversion 0 <br />b. Type of units <br />- Number of single family detached: 25 <br />-Number of single family attached: <br />G. Total replacement cost <br />(for all units, including land; should match line 4c. page 14) <br />d. Anticipated start of site improvements 10/2000 <br />Anticipated start of construction 03/2000 <br />e. Anticipated occupancy date <br />- First unit: 9/2001 <br />- Last unit: 4/2003 <br />3. Market Analysis and Plan (for projects with less than 20 units) No more than 3 pages. <br />Not app/icab/e -more than 20 units. <br />a. Justify the proposed number of units for the project. Explain why the units are needed and <br />provide evidence that there is a demand for the units. le.g. previous sales, sales of similar <br />homes in the market, waiting lists, community surveys, or overall market analysis.) <br />b Describe how you will market the units. Consider the following questions: How will you ' <br />reach a diverse group of people? How will you reach low and moderate income buyers? <br />Currently, are there qualified homebuyers ready? Are potential buyers being counseled? Is <br />there a waiting list of interested families? Are there homeownership classes being held? Do <br />realtors, lenders, or other relevant agencies help with referrals? Do you have brochures or <br />other literature to market the program? <br />4. Affordability <br />a. Describe the procedures that will be used to ensure that the homes remain affordable to and <br />occupied by low and moderate income households for20 years. Preference will be given to <br />projects that include measures to keep the units affordable to low and moderate income <br />households beyond20 years. <br />