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					  Illinois Housing Development Authority
                  Affordable Housing Trust Fund
          Homebuyer Assistance Program – Acquisition Only

                     Two Year Application
____________________________________________________________
Applicants must submit all required information and 1 original application to:

Illinois Housing Development Authority
Affordable Housing Trust Fund
Homebuyer Assistance Program
401 N Michigan Avenue
Suite 700
Chicago, IL 60611

Application deadline date: Friday, May 14th, 5:00 p.m.
Program Description:
Proposals utilizing this application must be to assist low income persons in the
acquisition of a home to be occupied as their principal residence. Households must
be at or below 80% of the area median income, adjusted for family size.

Assistance may be given in the form of a grant or deferred payment loan as defined
by the maximum assistance parameters available in the Program Guidelines.

Application and Checklist:
      Each application must be accompanied by a non-refundable application fee of
       $250.00 for not-for-profit and government organizations and $525.00 for for-
       profit organizations in the form of a check or money order made payable to
       the Illinois Housing Development Authority. Do not submit the check to the
       IHDA offices. Send the check to the following address:
          Illinois Housing Development Authority
          Affordable Housing Trust Fund
          Homebuyer Assistance Program Application Fee
          P.O. Box 93397
          Chicago, IL 60673
      Incomplete applications will not be considered for funding. All sections and
       exhibits must be addressed and provided for applications to be complete.
      Applicants must respond to each question and request for documentation
       noted in the application and checklist.
      Applicants must use the Application Instructions as a reference when
       completing the application.
One application with exhibits must be submitted in a three-ring binder with tabs
corresponding to each letter. Include each section of the application behind the tab
with the corresponding letter.      Page breaks have been included within the
application at the conclusion of each section. Include the exhibits at the end of the
section application as follows:

Homebuyer Assistance Program Application Checklist

Section A: Applicant Information
           Exhibit 1 – Copy of Application Fee Payment
           Exhibit 2 - Project Description (if applicant requires additional space or
           wishes to attach separately)
           Exhibit 3 – Organizational Documents
           Exhibit 4 - Elected Officials Contact Information (if additional space is
           required)
Section B: IHDA Funding
Section C: Proposed Program Financing and Affordability Plan
             Exhibit 5 – Evidence of Other Funds
Section D: Proposed Service Area
             Exhibit 6 – Map of Service Area
             Exhibit 7 – Live-Near-Work Letter from Local Employer, if applicable
Section E: Past Performance and Agency Capacity
Section F: Team Capacity and Experience
             Exhibit 8 – Program Manager Resume
             Exhibit 9 – Grant Manager Resume
             Exhibit 10 – Intake Specialist Resume(s)
             Exhibit 11 – Lender Liaison Resume(s)
             Exhibit 12 – Homebuyer Counselor Resume(s)
Section G: Program Impact
             Exhibit 13 – Letters of Community Support
             Exhibit 14 – Evidence of Solicitation of Community Input
             Exhibit 15 – Current Waiting List
Section H: Program Design
             Exhibit 16 – Participant Selection Plan
             Exhibit 17 – Homeownership Education Information
             Exhibit 18 – Site Information Supplement (if applicable)
Section I:   Lender Participation
             Exhibit 19 – Letter of Commitment from Lenders
Section J:   Other
Section K: Certification


                                                                                    2
                      Illinois Housing Development Authority
                           Affordable Housing Trust Fund
                  Homebuyer Assistance Program - Acquisition Only

                                           Two Year Application

   Trust Fund Dollars Requested:                         $__________                   No. of Units: _____
   Grant Funds Requested:                                $__________                   Per Unit: _______
   Loan Funds Requested:                                 $__________                   Per Unit: _______
   Loan Terms Requested:
              Rate: _____% Term:                         _____years Amortization Period: _____


A. Applicant Information:                   (Label as Section A)

Applicant Name:
Address:
Phone:
Contact Person:
Title:
Phone:
Email:
Fax:

Federal Tax Employer Identification Number:________________________
Agency Type: (check all that apply)

          Not-for-profit
          Unit of local government
          Unit of local government with nonprofit consultant
          Public Housing Authority
          For-Profit
          Proprietorship
Include copy of application fee check and label as Section A, Exhibit 1.
Project Description: (Label as Section A, Exhibit 2 if additional space is required)




                                                                                                             3
Organizational Documents (Label as Section A, Exhibit 3):

     If not-for-profit:
          Copy of IRS Determination and Date of Incorporation
          Last Two Annual Reports and Audited Financial Statements
          List of Board Members and Resumes
          Certificate of Good Standing

      If for-profit:
           Date of Incorporation and Latest Audit/Financial Statements
           List of Officers and Directors of Corporation or Partnership
           Certificate of Good Standing

      If Proprietorship:
           Personal Financial Statement (one [1] copy for confidential internal review)

If the applicant receives over $500,000 in federal funds, provide the most recent single audit (A-133).

Explain any findings:




Elected Officials Contact Information: For the following elected officials, please include name, district, and
address: (If you need additional space, use additional sheet s and label as Section A, Exhibit 4)


Mayor: ___________________________________________________________________
        ___________________________________________________________________
U.S. Congressperson:________________________________________________________
        ___________________________________________________________________
State Senator:______________________________________________________________
       ____________________________________________________________________
State Representative:________________________________________________________
       ____________________________________________________________________
Chairperson of County Board:__________________________________________________
      ____________________________________________________________________
Public Housing Authority Administrator:__________________________________________
     _____________________________________________________________________
Other:____________________________________________________________________
     _____________________________________________________________________




                                                                                                           4
B. IHDA Funding: (Label as Section B)
1. Is the agency currently receiving IHDA funds?     Yes         No

If yes, please list the program/project name, total funds received from IHDA and the IHDA
funding source:




2. Is the agency currently applying for IHDA funds for other programs?     Yes         No

If yes, please list the program/project name, total funds requested from IHDA and the IHDA
funding source:




3. Is the agency currently delinquent on any IHDA required payments or reporting in relation to
any previously funded project(s)? If yes, please include details regarding the delinquency and
how it will be remedied:




                                                                                              5
C. (A) Proposed Program Financing and Affordability Plan: (Label as Section C)
Estimates for Low Income Units (80% AMI and below)
1. What is the estimated average purchase price of the homes? _________

2. Complete the chart for
                                                                                Other
the average cost per
                                  Lender        Trust     Homebuyer            Sources         Total
home for the following:
                                                Fund
Acquisition Costs
a. Down Payment               $             $            $                 $              $
b. First Mortgage             $             $            $                 $              $
c. Second Mortgage (if        $             $            $                 $              $
applicable)
d. Third Mortgage (if         $             $            $                 $              $
applicable)
e. Fourth Mortgage (if        $             $            $                 $              $
applicable)
Total Acquisition Costs       $             $            $                 $              $


3. If Other Sources are listed in the chart above, describe and attach evidence of commitment (Label as
Section C, Exhibit 5):




4. Complete the chart for estimated
affordability of each unit:
Affordability Information


First Mortgage Principal and Interest       $

Second Mortgage Principal and Interest      $

Third Mortgage Principal and Interest       $

Estimated Monthly Taxes                     $


Estimated Monthly Insurance                 $


Estimated Monthly Mortgage Insurance        $
Costs

Borrower’s Total Monthly Payment            $

Minimum Income Needed                       $                              (Total Monthly Payment X
                                                                           12/.30)

Current 80% Income Limit (family of 4)



                                                                                                       6
C. (B)Estimates for Very-Low Income Units (50% AMI and below)
1. What is the estimated average purchase price of the homes? _________

2. Complete the chart for
                                                                                 Other
the average cost per home
for the following:
                                  Lender         Trust     Homebuyer            Sources         Total
                                                 Fund
Acquisition Costs
a. Down Payment               $              $            $                 $               $
b. First Mortgage             $              $            $                 $               $
c. Second Mortgage (if        $              $            $                 $               $
applicable)
d. Third Mortgage (if         $              $            $                 $               $
applicable)
e. Fourth Mortgage (if
applicable)
Total Acquisition Costs       $              $            $                 $               $


3. If Other Sources are listed in the chart above, describe and attach evidence of commitment (Label as
Section C, Exhibit 5):




4. Complete the chart for estimated
affordability of each unit:
Affordability Information


First Mortgage Principal and Interest        $
Second Mortgage Principal and Interest       $
Third Mortgage Principal and Interest        $
Estimated Monthly Taxes                      $


Estimated Monthly Insurance                  $


Estimated Monthly Mortgage Insurance         $
Costs

Borrower’s Total Monthly Payment             $
Minimum Income Needed                        $                              (Total Monthly Payment X
                                                                            12/.30)

Current 50% Income Limit (family of 4)




                                                                                                          7
D. Proposed Service Area: (Label as Section D)

1. List all counties and designated cities to be served by this program: (label and attach map as Section D,
Exhibit 6):




2. Target population: (mark all that apply)
                                              Number of Units
   <30% area median income:                   ____________
   <50% area median income:                   ____________
   <80% area median income:                   ____________
    Elderly:                                  ____________
    Special needs/disabled:                   ____________
    Live near work:                           ____________      Include a support letter from employer   as Section D, Exhibit 7.

    Preservation:                             ____________
    Public housing:                       ____________
    Other                                     ____________




                                                                                                                             8
E. Past Performance and Agency Capacity                         (Label as Section E)

    If the agency has not received Trust Fund dollars previously, skip #1 and #2.
1. For how many years has the agency received funding under the Homebuyer Assistance program? _____
2. If the agency has received funding during the past three years, please provide the following:



                            Trust Fund Dollars        Trust Fund Dollars
                                Awarded                   Expended           Number of Homes Completed
2008
                        $                         $
2007
                        $                         $
2006
                        $                         $
Please provide an explanation if necessary:




3. List and briefly describe all of the programs/services the agency provides (include the mission of the
agency, number of employees, years in operation, etc):




4. Describe the agency’s experience and expertise with homebuyer assistance programs:




                                                                                                            9
F. Team Capacity and Experience: (Label as Section F)
    Attach a resume for each position listed. Label and attach as Section F, Exhibits 8-12.

1. Program Manager: ____________________________

   Years of Experience:      < 1 year           1 – 5 years       > 5 years
   Describe individual’s specific, relevant experience:




2. Grant Manager: ____________________________

   Years of Experience:      < 1 year           1 – 5 years       > 5 years
   Describe individual’s specific, relevant experience:




3. Intake Specialist: ____________________________

   Years of Experience:      < 1 year           1 – 5 years       > 5 years
   Describe individual’s specific, relevant experience:




4. Lender Liaison:____________________________

   Years of Experience:      < 1 year           1 – 5 years       > 5 years
   Describe individual’s specific, relevant experience:




                                                                                              10
5. Homebuyer Counselor: ____________________________

   Years of Experience:      < 1 year           1 – 5 years          > 5 years
   Describe individual’s specific, relevant experience:




6. Please list any staff turnover in the past year or anticipated staff changes in the next six months:




                                                                                                          11
G.     Program Impact            (Label as Section G)



1. Please describe how the proposed project will meet currently underserved housing needs in the target
area(s), how the mission of the Trust Fund as described in the Program Guidelines will be met, and the
impact of the proposal on the community(ies) within the target area(s).




2. Does the agency have letters of support from local officials, neighborhood leaders or constituents?
      Yes          No
     If yes, please label and attach as Section G, Exhibit 13.
3. Did the agency solicit community input for this program?  Yes             No
     If yes, please label and attach evidence (i.e., flyers, meeting minutes) as Section G, Exhibit 14.
4. If this application is requesting funds for the continuation of a homebuyer program, is there
     a waiting list?    Yes        No
     If yes, how many households are on the list? ____________________
     Attach a copy of the waiting list as Section G, Exhibit 15.




                                                                                                          12
H. Program Design:             (Label as Section H)




1. Describe the agency’s marketing and outreach plan for the program. Also complete and submit the
Participant Selection Plan (Label as Section H, Exhibit 16):




2. Describe the agency’s policy on fair housing:




3. Describe how your agency will process prospective home buyers from intake to loan approval:




4. Describe the homeownership education that will be provided to participants. (If additional space if
necessary, label and attach as Section H, Exhibit 17):




Does the counseling agency performing the homebuyer counseling adhere to the National Industry
Standards for Homeownership Education and Counseling?     Yes           No

5. Please describe how homes are selected. If specific sites are targeted, please complete the Site
Information Supplement. (Label and attach as Section H, Exhibit 18):




                                                                                                         13
I. Lender Participation:            (Label as Section I)




1. Describe the agency’s lender participation and prequalified lender process:




2. Please list all lenders whom the agency intends to use in the program. List status as committed (c),
interested (i) or will contact (w.c.). Attach letters of commitment. (Label and attach as Section I, Exhibit
19)

    Lender Name          Address              Phone                Contact             Status




3. Describe the role of real estate agents in the program.




                                                                                                         14
K. J. Other:     (Label as Section J)


   List any additional information that supports this application:




                                                                     15
K. Certification:        (Label as Section K)


The undersigned certifies that all information contained within this application is true and correct. The
information given by the Applicant may be subject to verification by the Authority. The applicant also
certifies that the Illinois Affordable Housing Trust Fund is funding of last resort and the applicant
understands that submission of an application does not guarantee funding. The undersigned is
responsible for ensuring that the program complies with administrative rules that the Illinois Housing
Development Authority (the "Authority") may promulgate to govern the Program.

The undersigned hereby makes Application to the Authority for funds from the Illinois Affordable
Housing Trust Fund. The undersigned agrees that the Authority will at all times be indemnified and
held harmless against all losses, costs, damages, expenses and liabilities whatsoever their nature or
kind (including, but not limited to attorney's fees, liquidation and court costs, amounts paid in
settlement, and amounts paid to discharge judgment) directly or indirectly resulting from, arising out
of, or related to acceptance, consideration and approval or disapproval of such funding request.

To the greatest extent feasible, opportunities for training and employment arising in connection with
the planning and implementation of any program under any program of the Authority shall be given to
minority individuals and women.

To the greatest extent feasible, and consistent with Illinois and Federal Law, contracts for work to be
performed in connection with any program under any program of the Authority shall be made
available and awarded to businesses, including but not limited to those in the fields of finance,
planning, consulting, design, architecture, marketing, building construction, property management
and maintenance, which are owned, in whole or in part, by minority individuals and/or women.

Any program under any program of the Authority shall be affirmatively marketed and available for
occupancy by all persons regardless of race, national origin, religion, creed, sex, age, handicap, or
family status. The undersigned will document the actions taken to affirmatively further fair housing.

The implementation of any program under any program of the Authority shall minimize the
involuntary displacement of low-income households. Your signature on this application indicates your
receipt of this statement and your agreement to comply with the Authority's non-displacement in
housing policy.    You further agree to conform to the policy in every phase of the planning,
implementation and operation.

Your signature below will indicate your receipt of this statement and agreement to comply with the
Authority's equal employment opportunity and non-discrimination policies. Your signature will also
indicate your understanding that the Authority's willingness to issue a commitment to you for funds
from the Illinois Affordable Housing Trust Fund is conditioned upon your agreement to comply with
these policies.



IN WITNESS WHEREOF, the Applicant has caused this document to be duly executed in its name on
this _________________ day of _______________ 20____.

Legal Name of Applicant:        ____________________________________

Name:                           ____________________________________

Title:                          ____________________________________

Signature:                      ____________________________________




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