FORM V: USES AND OF PROGRAM ASSISTANCE Describe how the County will allocate NPLH funds in compliance with Section 402 of the Guidelines by addressing the following: The eligible use of Shared Housing program funds consistent with Section 200 of the Guidelines and 402 (b); Whether program funds will be provided as predevelopment, construction, or post-construction permanent financing. (NOTE: Program funds used for predevelopment or construction financing must convert to post-construction permanent financing); and The interest rate and for capital loans. NOTE: Capital funds for eligible uses will be provided in the form of a deferred payment loan and have an initial affordability period of 20 years or longer commencing on the date of recordation of the regulatory agreement. The loan may bear a zero percent interest rate. Pursuant to Welfare and Institutions Code Section 5849.4(b), any interest payments, loan repayments, or other return of funds must be returned to HCD and deposited in the NPLH Fund established by Welfare and Institutions Code Section 5849.4.
FORM V: USES AND OF PROGRAM ASSISTANCE Describe how the County will allocate NPLH funds in compliance with Section 402 of the Guidelines by addressing the following: The eligible use of Shared Housing program funds consistent with Section 200 of the Guidelines and 402 (b); Whether program funds will be provided as predevelopment, construction, or post-construction permanent financing. (NOTE: Program funds used for predevelopment or construction financing must convert to post-construction permanent financing); and The interest rate and for capital loans. NOTE: Capital funds for eligible uses will be provided in the form of a deferred payment loan and have an initial affordability period of 20 years or longer commencing on the date of recordation of the regulatory agreement. The loan may bear a zero percent interest rate. Pursuant to Welfare and Institutions Code Section 5849.4(b), any interest payments, loan repayments, or other return of funds must be returned to HCD and deposited in the NPLH Fund established by Welfare and Institutions Code Section 5849.4.
2018_NPLH_Optional_Shared_Housing_%20Designatin_Forms.docx