The amount of funds awarded to the grantee will be determined according to construction costs of the home and the costs of the building site, if needed.  The total amount of the award can not exceed the program guideline of $40,000 per unit.  Newly constructed homes can not have an appraised value greater than $144,336.
	Eligible applicants must agree to (1) occupy the home for at least twenty years after the purchase, (2) reimburse the program 15% of the total grant when the home is sold or vacated after 20 years, (3) reimburse the program on a sliding scale up to the total amount of the grant if the home is sold or vacated before the 20 year anniversary, (4) be willing and able to allow the administrating agency to retain a mortgage the property, (5) be willing and able to reimburse the program as agreed if the home is sold or transferred as part of the current owner's estate.
	Grantees must contribute a minimum of $500 of their own funds toward the purchase of a home under this program.  A current home owners insurance policy in the amount necessary to cover the total loss of the property is required.  The grantee and the funding source must be named on the policy.