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<br />9. Inelb;!;ible use ofNSP fundin2: <br />a. If it is ineligible under CDBG it is ineligible under NSP <br />b. Not eligible under HERA: <br />i. Foreclosure prevention activities <br />11. Demolition of non-blighted structures <br />111. Purchase of properties not abandoned or foreclosed upon <br />IV. Shelters <br /> <br />10. NSP Income Tar2etin2: <br />a. Income eligibility of participants benefiting from NSP based on 120% of area <br />median Income <br />b. 25% of funds must be used to assist benefits at or below 50% of area median <br />mcome <br /> <br /> <br />11. Purchase of homes with NSP: <br />a. Any purchase of a foreclosed upon home or residential property under this <br />program is required to be purchased at a discount from the current market <br />appraised value of the home or property <br />b. Current condition must be taken into account <br />c. Value is required to be established through an appraisal made in conformity with <br />the appraisal requirements ofthe URA and must have been completed within 60 <br />days prior to an offer <br />d. Anoka County must meet a 15% discount on its portfolio <br /> <br />12. Rehabilitation Standards: <br />a. Any rehabilitation of a property should be to the extent necessary to comply with <br />applicable laws, codes and other requirements. <br />b. Rehabilitation may include improvements to increase the energy efficiency <br /> <br />13. Sale of NSP homes <br />a. The sale of an abandoned or foreclosed home or residential property to an <br />individual as a primary residence must be in an amount equal to or less than the <br />cost to acquire and redevelop or rehabilitation such home or property up to a <br />decent, safe, and habitable condition. <br /> <br />14. Pro2ram Income (PD <br />a. Anoka County will have limited use of PI based on type of proj ect and timing. <br />b. CDBG Real Property PI regulations apply, in addition to NSP requirements that <br />PI be returned to HUD after 2013. <br /> <br />15. Audit: <br />a. NSP funds are subject to Single-Audit <br />b. Inspector General will be our new friend <br />c. At the end of the day, HUD will be looking at how many housing units were <br />created! <br />