2016 Action Plan of the Consolidated Plan

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HOME Investment Partnership Program (HOME) Reference 24 CFR 91.220(1)(2) 1. A description of other forms of investment being used beyond those identified in Section 92.205 is as follows: The County of Hawaii does not use any other forms of investment except those listed in Section 92.205. 2. A description of the guidelines that will be used for resale or recapture of HOME funds when used for homebuyer activities as required in 92.254, is as follows: On Homebuyer activities the County of Hawaii will recapture the total amount of HOME funds expended for a project when the recipient fails to comply with the terms of its agreement with the County, or refuses to accept conditions imposed by the County, HHFDC, or HUD; when the recipient sells or otherwise transfers any real or personal property purchased or constructed with the HOME funds within the applicable period of affordability; and when the recipient ceases to use the property constructed, rehabilitated and /or renovated with HOME funds for the applicable period of affordability, following the issuance of final payment for the project by the County. 3. A description of the guidelines for resale or recapture that ensures the affordability of units acquired with HOME funds? See 24 CFR 92.254(a)(4) are as follows: The County of Hawaii adheres to the recapture provisions and recoups the entire amount of the HOME investment from the homebuyer, if the house does not continue to be the principal residence of the homebuyer's family for the entire period of affordability. 4. Plans for using HOME funds to refinance existing debt secured by multifamily housing that is rehabilitated with HOME funds along with a description of the refinancing guidelines required that will be used under 24 CFR 92.206(b), are as follows: The County of Hawaii has never used HOME funds to refinance existing debt secured by multifamily housing that is rehabilitated with HOME funds and has no intention of using HOME funds for this purpose in the future. Annual Action Plan 2016 OMB Control No: 2506 -0117 (exp. 07/31/2015) 42