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*Special Conditions <br /> HOME funds used for projects not completed within <br /> 4 years of the commitment date, as determined by a <br /> signature of each party to the agreement shall be <br /> repaid, except that the Secretary may extend the <br /> deadline for 1 year if the Secretary determines that <br /> the failure to complete the project is beyond the <br /> control of the participating jurisdiction. <br /> No HOME funds may be committed to any project <br /> unless each participating jurisdiction certifies that it <br /> has conducted an underwriting review, assessed <br /> developer capacity and fiscal soundness, and <br /> examined neighborhood market conditions to ensure <br /> adequate need for each project. <br /> Any homeownership units funded with HOME funds <br /> which cannot be sold to an eligible homeowner <br /> within 6 months of project completion shall be rented <br /> to an eligible tenant. <br /> No HOME funds may be awarded for development <br /> activities to a community housing development <br /> organization that cannot demonstrate that it has staff <br /> with demonstrated development experience. <br /> Page 2 of 2 form HUD-40093(05/2012) <br />