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Housing Assistance Policy- Market Rate <br />1 <br />FINANCIAL REQUIREMENTS/INFORMATION <br />Financial award is based on availability of funds. Maximum funding is set at $10,000 per unit or not <br />greater than 15% of entire project cost. Owner equity must be greater than 10%. <br />Eligible Uses of Funding <br />Eligible uses of funding include; site acquisition, land improvements, building construction, and payment <br />of development fees <br />Required Information <br />1. Sources and Uses Statement (below) <br />2. Financial Scoring Scorecard (below) <br />3. Organizational Financial Statements (2 years of P&L and Balance Sheet) <br />4. Personal Financial Statements of Stakeholders and Tax Returns (2 years) <br />5. Project Pro forma/Projections (2 year projections) <br />6. Letter(s) of Commitment from other Funding Sources (terms, conditions) <br />7. Evidence that the Property is not delinquent in Property Taxes <br />Sources and Uses <br />Please attach a Sources and Uses Spreadsheet as outlined below. This shall include all sources of financing <br />for the project and how those funds will be used. The Applicant shall provide a detailed listing of each. <br />SOURCES <br />Owner Equity <br />Bank Loan <br />Other Loan <br />Fed. Grant/Loan <br />State Grant/Loan <br />TIF <br />Tax Abatement <br />Revolving Loan Fund <br />Other <br />AMOUNT ($) <br />AMOUNT ($) <br />Land Acquisition <br />Site Development <br />Construction <br />Engineering/Arch. Services <br />Debt Service <br />Contingencies <br />Other <br />12 <br />