Section IV: HOME Narratives

Los Angeles Urban County Final 2014–2015 Annual Action Plan IV-1 June 2, 2014

IV. HOME NARRATIVES (AP-90)

A. INTRODUCTION

AVAILABLE FUNDS

Federal Investment Criteria

B. ELIGIBLE ACTIVITIES

IV. HOME Narratives (AP-90) C. Additional Information on Use of HOME Funds (AP-90)

Los Angeles Urban County Final 2014–2015 Annual Action Plan IV-2 June 2, 2014

ELIGIBLE USES OF CHDO FUNDS

C. ADDITIONAL INFORMATION ON USE OF HOME FUNDS (AP-90)

OTHER FORMS OF INVESTMENT

HOMEBUYER PROGRAMS

IV. HOME Narratives (AP-90) C. Additional Information on Use of HOME Funds (AP-90)

Los Angeles Urban County Final 2014–2015 Annual Action Plan IV-3 June 2, 2014

RECAPTURE PROVISIONS FOR HOMEBUYER ACTIVITIES

RECAPTURE PROVISIONS THAT ENSURE AFFORDABILITY

IV. HOME Narratives (AP-90) C. Additional Information on Use of HOME Funds (AP-90)

Los Angeles Urban County Final 2014–2015 Annual Action Plan IV-4 June 2, 2014

Affordability Periods

Table IV.1 Affordability Periods Los Angeles Urban County

2014–2015

Type of Assistance Affordability Period

HOME Loans 20 Years

Newly constructed 55 Years

FINANCING

AFFIRMATIVE MARKETING POLICY AND PROCEDURES

IV. HOME Narratives (AP-90) C. Additional Information on Use of HOME Funds (AP-90)

Los Angeles Urban County Final 2014–2015 Annual Action Plan IV-5 June 2, 2014

Informing Affected Parties

MONITORING AND EVALUATION