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Results of Eligibility Review <br />1. Household Income: <br />Applicant Family: Family of four Annual Income: $26,005 <br />2 <br />The family incarne is 41% of the area HUD published median income of $62,800 for a family <br />of four. <br />2. Purchase Price: $124,000 First Mortgage: $$4,891; Seeand Mortgage: $22,500; <br />Third Mortgage: $15,609; <br />Family Contribution: $1,000. <br />3. Certification of 99 year Affordability: <br />EmPOWERment agrees to comply with the County Lang-Term Housing Affordability Policy <br />to ensure that the housing remains affordable for families earning less than 80% of the area <br />median income for 99 yeazs. This requirement will be secured by a Declaration of Restrictive <br />Covenants. <br />4. Documentation of Impact Fee Payment Yes <br />FINANCIAL IMPACT: There is a line item in the current yeaz budget for impact fee reimbursements. <br />The current balance is $93,000. <br />RECOMMENDATION(S): The Manager recommends approval of the impact fee reimbursement <br />request from EmPOWERrnent, Inc. for $3,000 for a newly constructed home in Carrboro. <br />