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ECHO HOUSING HBE CONTRACT AMENDMENT
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ECHO HOUSING HBE CONTRACT AMENDMENT
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Last modified
10/10/2024 12:07:18 PM
Creation date
10/10/2024 12:06:38 PM
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CONTRACTS
Description Type
Professional Services
Contract Type
Amendment
NAME
ECHO HOUSING HBE CONTRACT AMENDMENT
Contract Record Series
704-05
Munis Contract #
2024076
Contract Expiration
6/30/2025
NOTES
HOMEBUYER EDUCATION SUPPOORTING THE AFFORDABLE HOUSING PROGRAM
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Ineligible and non-City approved change in title, including ineligible inheritance. <br />Rental of the property, including vacation and Airbnb rentals. <br />Deferred maintenance and/or health and safety issues associated with the property. <br />General steps BAAHA will take to address and cure a violation will include(and not be limited to): <br />Advise the PHAP owner of the violation. <br />Provide details and a timeline on steps to take to cure the default. <br />Take appropriate action to relinquish the violation, if cured <br />Start appropriate foreclosure and default proceedings if the default is not cured. <br />Newsletter and Announcements <br />A newsletter and additional supporting notifications will be sent to PHAP owners. A newsletter <br />will be supplied to the PHAP Owners at least annually. The newsletter will: <br />Inform owners regarding important updates and developments(if any)pertaining to their <br />BMR ownership. <br />Remind owners regarding their responsibilities,requirements, and restrictions associated <br />with PAHP ownership. <br />Distribution of special notices will also be conducted on an as needed basis. These notifications <br />will address announcements regarding commonly encountered issues. <br />PHAP Participant Workshop <br />BAAHA will conduct an annual two-hour public workshop for PHAP owners. This workshop <br />will be focused on reviewing key guidelines and restrictions of PHAP ownership with an <br />emphasis on navigating through activities such as refinances,title transfers, and resales. <br />BAAHA will provide a PHAP ownership manual to the attendants of this workshop, which will <br />also be made available to all PHAP owners. <br />PHAP and PDALP Owner's Manual <br />BAAHA proposes to structure a PDALP/PHAP owner's manual to be provided to all existing <br />PDALP/PHAP program participating owners. This manual can also be distributed to prospective <br />new Program participants—to further inform and educate prospective Program participants. The <br />primary objectives of compiling and distributing the Manual will be: <br />Remind Program participating households of their restrictions and responsibilities as <br />Program participants. <br />Help minimize the number of Program defaults <br />Provide a readily available resource for Program participants to access information on <br />restrictions, responsibilities, and protocols to maintain their properties within required <br />guidelines. <br />Topics covered in the Manual will include and not be limited to: <br />Program ownership restrictions and responsibilities <br />Steps to take when: <br />o Refinancing a property <br />o Selling a property <br />13Page <br />I <br />Docusign Envelope ID: F53F1E05-ADA3-465D-BE20-156E055217E3
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