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Use this section to challenge your knowledge of HOME Match. Read the scenario below and begin the exercise. Review the questions and determine the correct response. Once you have answered one question and seen your result, click next to move to the next question.
Scenario
You are the HOME Program Specialist at Homeville, USA (a Participating Jurisdiction) and are responsible for reviewing a nonprofit organization's proposed mixed-use HOME project (100 units with 50 HOME assisted units, 2 commercial spaces) that will be rehabilitated in Homeville. The HOME and non-HOME units will occupy equal floor space in the project. The floor space for the 2 commercial spaces combined is equal to that of 5 dwelling units. The affordability period for the project is 5 years.
This project will use a major share of Homeville's funds, so the match generated in this project is critical to the City. For this exercise, assume that the match for the rest of your program is just barely being met. There is no surplus match to apply to this project, so it must generate sufficient match to support itself in that regard.
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Total Project Costs:
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$1,025,000
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Valley Bank Loan
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$375,000
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HOME Grant
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$550,000
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Foundation Loan
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$50,000
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Donated Materials
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$50,000
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Proposed matching contribution
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$195,000
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Are you ready?
Go to Question 1
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