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1984 - 03-26-84 Adjour. Reg. Meeting
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1984 - 03-26-84 Adjour. Reg. Meeting
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Admin-Clerk
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Minutes
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Board of Commissioners
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- J - <br />book it ?,u 433 <br />3. The renter-occupied property must be in the <br />target area. <br />4. Rental property owners must sign an agreement that <br />they will either freeze the rent. on CD13G rehabilitated <br />property or be certified for Section 8 rental assistance. <br />5. To be eligible to receive 1000' rehabilitation grants <br />under this CDBG program, the owner of the property and <br />the occupant of the dwelling must have a low-to-moderate <br />income as shown in the following table: <br />Section 8 Income Limits (Eff. 3-1-53) <br />1983 Median Family Income is S2.2,000 <br />Number in Family Income <br />1 <br />$12,300 <br />2 <br />1.4 , 100 <br />3 <br />15,850 <br />4 <br />17,600 <br />5 <br />18,700 <br />6 <br />19,800 <br />7 <br />20,900 <br />8+ <br />22,000 <br />Revised schedules of income limits will be inserted in lieu <br />of the'above as issued by the Division of Community Assistance, <br />Natural Resources and Community Development (NRCD) and/or the <br />U.S. Department of Housing and Urban Development. <br />DEED COVENANT <br />A lien will be established in favor of Lee County. The owner <br />of the rehabilitated property must agree that the property will <br />not be sold, conveyed, leased or disposed of for a period of five <br />(5) years. If the owner does sell, convey, lease or dispose of <br />the rehabilited property within the specified time period, the <br />owner shall repay the County a pro-rated amount based on the <br />following schedule. <br />1st year 100,0 <br />2nd year 80°~ <br />3rd year 60ro <br />4th year 40% <br />5th year 20`? <br />The property may be sold during the 5-year lien period for <br />the following conditions: <br />"for the reason of the owner's health, <br />his/her mental health, or inheritance." <br />At, the end of five (5) years the lien will terminate. <br />
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