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Housing ' <br /> ,-,s,'st~. ~a. nce _)ervlces.. <br /> <br /> EXHIBIT B-2 <br /> <br /> ~--] Operational 7X~ Proposed (Ft.'his <br /> cc~.~-i t ted, <br /> <br /> Name of Program De_feq_r_p_d_~:~iq~__p_~;ogram <br /> <br /> Funding: <br /> <br /> Source: HCDA Funds Maximum ~oont $ <br /> Closed Loans ~- <br /> ~ount Budgeted FY 1979-80 $78,000 TO Oate <br /> Current cfe~- service tZo high to $ <br /> Borrower Eligibility: support. Additional payments low & moderate incr <br /> <br /> Structure Eli~ibility: Owner-occupied structures only. <br /> <br /> ~li~ible Improvements: <br /> investor-owners. <br /> Other Eligibility Conditions: <br /> <br /> * The City has operated a .direct lending deferred loan program <br /> generally targeted to elderly people who could not increase <br /> their debt burden and mouthly payments. The deferred lo~n <br /> program discussed use will use the Security Pacific Bank <br /> agreement to fuilfitl the same goal and also to provide com- <br /> bination bank/deferred loans to leverage available funds. <br /> <br /> <br />