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Total household income shall meet the income limitations spedfied above and further <br />de£med as an attachment to this document labeled PART II, INCOME <br />GUIDELINES & AFFORDABILITY CRITERIA. Buyers will be selected on a first- <br />prioritized, first-qualified basis, depending upon the date the application is received, <br />within the priorities established. If there are more applicants than can be <br />accommodated by tiffs system, applicants may be selected by lottery. Lotteries will be <br />held by priority group so that more qualified applicants are not competing with lesser <br />qualified applicants. Refer to Program Description for more infoLmation relating to <br />priority based on applicants currently residing in substandard housing and paying more <br />than 30% of household income for housing. <br /> <br />Only Buyers who fall within the first priority categories above will be eligible for the <br />City's First Time Home Buyer Financial Assistance Program for the Wyndham Place <br />Project. The source of funding for the Program for the Wyndham Project is from the <br />federally funded HOME Program. Other federal funds may be added as necessary to <br />assure affordability and comply with conditions of the HOME agreement. Applicants <br />mUst be eligible for assistance under the HOME Program based on household incomes <br />as defined in Part II. Assistance provided by Redevelopment Agency is a land subsidy <br />which effectively reduces the sales prices of the units. <br /> <br />Once initial income and residency eligibility status is determined, priorities will be <br />followed, provided that at least one buyer of each unit at the time of application and <br />at the time of close of escrow, meets the priority category as defined in the Program <br />Description. <br /> <br /> <br />