Home Investments Partnerships Program (Home) Down Payment Assistance Program (DAP) Administration

The City of Palm Bay, Florida has awarded a contract for the administration of the Home Investments Partnerships Program (Home) Down Payment Assistance Program (DAP). The contractor, Community Housing Initiative, will be responsible for tasks such as collecting required documentation, providing homeownership counseling, and verifying household income. The contract is worth $64,000.00. The program aims to provide down payment assistance to eligible homebuyers. Some key requirements of the program include: homes purchased must be vacant or owner-occupied residences, homes constructed prior to 1978 must be visually assessed for deteriorated paint, and homebuyers must occupy the purchased property as their primary residence for the duration of the ten-year HUD HOME program Affordability Period. • The contractor must provide at least eight hours of HUD Certified Homeownership Counseling to program participants. • The contractor must verify and document that combined household income falls under the HUD HOME Program income eligibility thresholds. • The contractor must serve as a liaison for the Down Payment Assistance Program and facilitate communication between the homebuyer, real estate agents, home inspection, lender, title company, and the City. • The contractor must certify that the homebuyer's client file is fully and properly documented.