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S q Conditions
H ME funds used for projects not completed within
years of the commitment date, as d t rm,in d by
signature of each party to the agreement shall be
repaid, except that the Secretary may extend the
deadiline for 1 year if the: Secretary determines that
the failure to complete, the project is beyond the
control of the participating jurisdiction.
No HOME funds may, he committed to .ry project
unless each participating jurisdiction certifies that it
has conducted an underwriting review, assessed
developer capacity and fiscal soundness, and
exarriined neighborhood market conditions to ensure
adequate reed for each project.
Any homeownership units funded with HOME funds
which cannot he sold' to an eligible homeowner,
within 6 months of project completion shall be rented
to an eligible tenant.
No HOME funds may be awarded for development
activities to a community housing development
organization that cannot demonstrate that it has staff
with demonstrated development experience.
�enee.
Page 2 of 2 form HUD-40093