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foreclosures. The funds are targeted to help low- to middle-income residents buy and rehabilitate foreclosed <br />properties that might otherwise become sources of abandonment and blight in their communities. NSP funding is <br />provided through Housing & Urban Development's Community Development Block Grant Program under the <br />Housing and Economic Recovery Act of 2008. <br /> <br />NSP can provide up to $50,000 in an interest-free, deferred payment loan per household based on the applicant’s <br />income and need, required repairs, and eligible energy efficiency upgrades. An eligible applicant’s household <br />income cannot exceed 120% of Area Median Income. Applicants do not have to be first-time homebuyers, but <br />they must occupy the property as their primary residence. Applicants will be required to contribute at least of 50% <br />of the minimum down payment required by the primary lender and complete eight hours of homebuyer education. <br />In order to apply for the funds, the foreclosed property must be a single-family unit located in specific census tracts <br />of the city. Properties must be foreclosed, owned by the lender, vacant, and purchased at a minimum of a 1% <br />discount to Fair Market Value. <br /> <br />Information on additional eligibility requirements is available on the Planning and Development website <br />www.eugene-or.gov/pdd or by contacting Bob Briscoe at bob.briscoe@ci.eugene.or.us or 682-5446. <br /> <br />NEXT WEEK <br />10/26 M 5:30pm All Council Work Session McNutt Room <br />10/26 M 7:30pm All Council Meeting Council Chamber <br />10/27 Tu 5:00pm KP, JS Mayor’s One-on-One Albertson’s, 4740 Royal <br /> Avenue <br />10/27 Tu 6:30pm All Eugene/Lane County JEO Public Hearing Harris Hall <br />10/28 W Noon All Council Work Session McNutt Room <br /> <br />UPCOMING <br />11/9 M 5:30pm All Council Work Session McNutt Room <br />11/9 M 7:30pm All Council Meeting Council Chamber <br />11/16 M 7:30pm All Council Public Hearing Council Chamber <br />11/18 W Noon All Council Work Session McNutt Room <br />11/23 M 5:30pm All Council Work Session McNutt Room <br />11/23 M 7:30pm All Council Meeting Council Chamber <br /> <br />UNAVAILABLE FOR CITY COUNCIL BUSINESS <br />Taylor: November 9-15 <br />Ortiz: October 30 – November 4 <br /> <br />EUGENE CITY COUNCIL NEWSLETTER PAGE 4 <br />October 22, 2009 <br />