HHF Alabama Date: May 6, 2020

SERVICE SCHEDULE B-1

ALABAMA HOUSING FINANCE AUTHORITY

PROGRAM TERM SHEET

SUMMARY GUIDELINES

HARDEST HIT FOR ALABAMA'S UNEMPLOYED HOMEOWNERS

1. Program Overview AHFA will administer the program to subsidize 100 percent of an eligible 

unemployed or underemployed homeowner’s current monthly mortgage 

payments and all other mortgage-related expenses (including subordinate 

liens, if applicable) during their time of eligibility. AHFA will provide a payment 

not to exceed $15,000 to bring the homeowner current on his or her delinquent 

mortgage(s). If this maximum amount that AHFA will provide is less than the 

total amount needed to bring the homeowner current on all existing 

mortgages, the homeowner must cover any shortfall. The payment can

cover principal, interest, fees, escrow/impound expenses, past due 

homeowners association (HOA) fees, delinquent taxes and/or escrow shortage 

for taxes and insurance.

AHFA will also provide a payment not to exceed $30,000 to bring 

homeowners, who have encountered an eligible financial hardship and who 

can afford their current monthly mortgage payment, current on his or her 

delinquent mortgage(s). Funds must fully reinstate the homeowner’s mortgage

loan(s).

The assistance will not exceed a total of $30,000 per household.

Interested homeowners will apply directly to AHFA via a secure website 

monitored and maintained by AHFA staff. Applications will be evaluated and 

approved by AHFA staff members. Approved homeowners will be expected 

to submit certain information documenting their financial hardship and inability 

to pay their mortgage and supporting their mortgage claims.

Program components include:

Mortgage Payment Assistance: payments for eligible unemployed or 

underemployed homeowners will be disbursed to servicers by AHFA on a

monthly basis contingent upon homeowner continued eligibility and recertification. Monthly assistance, when combined with any assistance needed 

to bring the homeowner current (not to exceed an aggregate total

of $30,000 per household), will continue for up to twelve months,
B-1-2

provided that the property continues to be the homeowner’s primary residence 

and the homeowner otherwise complies with program guidelines.

One-Time Reinstatement Assistance: payment for eligible homeowners 

who have a past due balance in excess of $15,000 and have encountered an

eligible financial hardship will be disbursed to servicers by AHFA in a single 

disbursement up to $30,000. Payment must fully reinstate the homeowner’s 

mortgage loan(s).

2. Program Goals Provide mortgage payment assistance to unemployed or underemployed 

Alabama homeowners and reinstatement to homeowners who have 

encountered a financial hardship, both with a chance of sustaining 

homeownership.

3. Target Population / 

Areas

This program will assist low- to moderate-income families in Alabama. 

AHFA does not anticipate targeting this assistance on a geographic basis.

4. Program Funds 

(Excluding 

Administrative 

Expenses)

Not applicable. Program Funds may be disbursed under any program 

included in Schedule B.

5. Borrower Eligibility 

Criteria

Homeowners who have experienced a hardship which has impacted their 

ability to make their mortgage payment(s). Eligible hardships include 

unemployment, a reduction in regular work hours, or illness of the 

homeowner, homeowner’s family member, or dependent family member.

Homeowners must have a total annual income of less than 140 percent of the 

state median income. AHFA may change thislimit annuallywhen new income 

data becomes available from the U.S. Department of Housing and Urban

Development.

Homeowners, in connection with a mortgage or real estate transaction, cannot 

have been convicted, within the last 10 years, of any one of the following: (A) 

felony larceny, theft, fraud or forgery, (B) money laundering or (C) tax

evasion.

Homeowners will be required to provide a financial Hardship Affidavit 

attesting to their inability to pay their mortgage (for Mortgage Payment 

Assistance) or attesting to the eligible financial hardship (for One-Time 

Reinstatement Assistance) and must meet other eligibility criteria per the 

program guidelines. HHF will be available to qualified homeowners on a 

first-come, first-served basis.

Mortgage Payment Assistance:

 Alabama homeowners who are currently receiving or previously 

received state or federal unemployment compensation benefits or 

TRA on or after March 1, 2020, or who have encountered an eligible 

financial hardship resulting in a 10% or greater reduction in total 
B-1-3

household income (underemployment) may be eligible for Mortgage 

Payment Assistance.

One-Time Reinstatement Assistance:
B-1-4

 Alabama homeowners who are past due on their mortgage payments 

and who have encountered an eligible financial hardship resulting in a 

10% or greater reduction in total household income in the most recent 

12 months may be eligible for one-time reinstatement assistance. 

Eligible financial hardships include loss or reduction in income 

through no fault of the homeowner, medical hardships, death, 

divorce, or disability. The post- assistance housing ratio may not 

exceed 45%.

6. Property / Loan 

Eligibility Criteria

Homeowners must currently occupy the property as their primary residence 

and the residence must be located within the state of Alabama. Eligible 

structures include single-family homes, attached or detached, and 

manufactured housing attached to real property. Existing mortgage loans on 

the property must have an unpaid principal balance totaling no more than

$300,000. Mortgages must be originated by a financial institution in the 

business of regularly originating mortgage loans and the mortgage loans must 

be executed and recorded prior to the homeowner’s financial hardship.

7. Program Exclusions Mortgage loans on second homes or investment properties will not be eligible 

for HHFassistance.

Homeowners who have ownership interest in a property other than their 

primary residence.

Homeowners who are in an active bankruptcy

Homeowners who previously received assistance under this program.

8. Structure of Assistance Homeowners receiving funds will execute a note and a subordinate mortgage

lien in favor of AHFA that will be recorded in public records against the 

property. Loans will be zero percent and non-amortizing.

Loans originated between the pilot program c o m m e n c e m e n t and 

December 31, 2012, will be forgiven at the termination of a five- year term. 

Loans originated between January 1, 2013, and December 31, 2013, will be 

forgiven at the termination of a four-year term. Loans originated between 

January 1, 2014, and December 31, 2014, will be forgiven at the termination 

of a three-year term. Loans originated between January 1, 2015 and 

December 31 2015 will be forgiven at the termination of a two year term. 

Loans originated between January 1, 2016, and December 31, 2016, will be 

forgiven at the termination of a one-year term. Loans originated between

January 1, 2017, and December 1, 2018 will be forgiven at the termination of 

a two-year term. Loans originated on or after January 1, 2019 will be forgiven 

at the termination of a one-year term or upon the End of Term (as defined in 

the Agreement), whichever comes first.

Loans will be repayable only if the homeowner sells the property before the 

forgiveness period expires and there is sufficient equity to pay all or
B-1-5

part of the unforgiven balance of the loan. Repaid HHF funds will be 

used to assist additional homeowners in accordance with the Agreement.

Ongoing monitoring, repayments and satisfactions will be conducted through

AHFA.

9. Per Household 

Assistance

Assistance not to exceed a total of $30,000 per household.

AHFA will cover 100 percent of the household’s monthly mortgage payments 

and all other mortgage-related expenses (including principal, interest, fees, 

escrow/impound expenses, past due HOA fees, delinquent taxes and/or

escrow shortage for taxes and insurance) unless final payment amount 

exceeds the maximum assistance available.

If a homeowner is qualifying for Mortgage Payment Assistance and the 

maximum amount that AHFA will provide for reinstatement under that 

component (a total of $15,000 per household) does not exceed the total 

amount needed to bring the homeowner current on all existing mortgages, the 

homeowner must cover any shortfall.

10. Duration of Assistance Under the Mortgage Payment Assistance component, payments (excluding 

the amount needed to bring the homeowner current) will be disbursed to 

servicers by AHFA on a monthly basis contingent upon homeowner continued

eligibility and re-certification. Any amount needed to bring the homeowner 

current will be disbursed to servicers by AHFA as a single disbursement. 

Monthly assistance, when combined with any assistance needed to bring the 

homeowner current not to exceed an aggregate total of $30,000 per 

household, will continue for up to twelve months, provided that the property 

continues to be the borrower’s primary residence and the borrower continues 

to comply with program guidelines.

Under the One-Time Reinstatement component, a single disbursement up to 

$30,000 will be made to fully reinstate the homeowner.

11. Estimated Number of 

Participating 

Households

8,500

12. Program Inception / 

Duration

The pilot program began on December 15, 2010, and funds became available 

statewide on February 2, 2011. AHFA anticipates that the program will last 

until September 30, 2020, or as long as the allocation of funds is available, 

whichever occurs first.

13. Program 

Interactions with 

Other HFA 

Programs

Homeowners may participate in other Alabama HHF programs as long as the 

homeowners meet all program requirements established for each program. The 

total combined assistance for all programs may not exceed

$60,000. Homeowners are required to apply separately for each program.
B-1-6

14. Program 

Interactions with 

HAMP

This assistance can interact with any and all loan modification programs, 

including HAMP, provided that the homeowner meets the qualifications 

established by AHFA and Treasury for HHF. HHF funds can be utilized 

before or after assistance from HAMP UP.

15. Program Leverage with 

Other Financial

Resources

None.
B-2-1

SERVICE SCHEDULE B-2 

ALABAMA HOUSING FINANCE AUTHORITY

PROGRAM TERM SHEET 

SUMMARY GUIDELINES

SHORT SALE ASSISTANCE PROGRAM

1. Program Overview AHFA will administer HHF fundsto assist financially distressed homeowners with the 

sale of their primary residence. The short sale assistance program will assist 

homeowners who can no longer sustain their monthly mortgage obligation due to a 

hardship such as unemployment, underemployment, divorce, or disability. The 

assistance will not exceed a total of $30,000 per household.

HHF Participating Servicers may refer interested sellers for participation in the 

program. The servicer must provide evidence the seller has been approved for a short 

sale, contingent upon receipt of HHF funds. The seller will apply via a secure website 

monitored and maintained by AHFA staff. Applications will be evaluated and approved 

by AHFA staff members. Sellers will be expected to submit certain information 

documenting their income, shortsale approval (contingent upon receipt of HHF funds), 

executed sales contract, the value of the property, and payoff statement(s) from a 

Participating Servicer(s).

Participating Servicers must agree to accept a minimum loss of $1,000 on the first 

mortgage loan of each short sale assisted.

AHFA will provide a single disbursement which can cover closing costs and any 

remaining principal amount—up to 10% of the sales price, not to exceed $30,000. The 

funds will be disbursed at closing and made payable to the servicer and the closing agent 

(with respect to closing costs).

2. Program Goals Provide assistance to Alabama homeowners who are unable to sustain their monthly 

mortgage obligation.

3. Target Population / 

Areas

This program will assist low- to moderate-income familiesin Alabama. AHFA does

not anticipate targeting this assistance on a geographic basis.

4. Program Funds 

(Excluding 

Administrative 

Expenses)

Not applicable. Program Funds may be disbursed under any program included in

Schedule B.
B-2-2

5. Borrower Eligibility 

Criteria

Applicants must have a total annual household income of less than 140 percent of the 

state median income. AHFA may change thisincome limit annually when new income 

data becomes available from the U.S. Department of Housing andUrban Development.

The homeowner, in connection with a mortgage or real estate transaction, cannot have 

been convicted, within the last 10 years, of any one of the following:

(A) felony larceny, theft, fraud or forgery, (B) money laundering or (C) tax evasion.

Homeowners will be required to provide a financial Hardship Affidavit attesting to their 

inability to pay their mortgage. HHF will be available to qualified homeowners on a 

first-come, first-served basis.

Homeowner’s eligibility will also depend on the servicer’s evaluation of homeowner 

for a short sale program.

6. Property / Loan 

Eligibility Criteria

The homeowner must occupy the property as their primary residence at the time of sale 

and the residence must be located within the state of Alabama. Eligible structures 

include single-family homes, attached or detached, and manufactured housing attached 

to real property. Existing mortgage loans on the propertymust have an unpaid principal 

balance totaling no more than $258,690.

7. Program Exclusions Mortgage loans on second homes or investment properties will not be eligible for 

HHF assistance.

8. Structure of Assistance A single payment made payable to the servicer and the closing agent (with respect to 

closing costs) will be disbursed at closing. Loan forgiveness will be immediate. No 

additional monitoring will be required.

9. Per Household 

Assistance

HHF assistance per household not to exceed $30,000.

10. Duration of Assistance A single HHF payment made payable to the seller and closing agent will be disbursed 

at closing.

11. Estimated Number of 

Participating 

Households

60

12. Program Inception / 

Duration

The short sale program will be available to homeowners after the Seventh Amendment 

Date and will last as long as the allocated amount of fundsis available. After successful 

completion of a 60-day pilot program, AHFA will make the funds available for a 

statewide release.

13. Program 

Interactions with 

Other HFA 

Programs

Homeowners may participate in other Alabama HHF programs as long as the 

homeowners meet all program requirements established for each program. The total 

combined assistance for all programs may not exceed $60,000. Homeowners are 

required to apply separately for each program.
B-2-3

14. Program 

Interactions with 

HAMP

N/A

15. Program Leverage 

with Other Financial 

Resources

None.
B-3-1

SERVICE SCHEDULE B-3 

ALABAMA HOUSING FINANCE AUTHORITY

PROGRAM TERM SHEET 

SUMMARY GUIDELINES

LOAN MODIFICATION ASSISTANCE PROGRAM

1. Program Overview To aid in the prevention of foreclosures in Alabama, the Loan Modification 

Assistance Program will provide funds, not to exceed $30,000 per household, to

assist financially distressed and/or underemployed borrowers in achieving 

modification of their home loans.

Under the program, a one-time contribution of funds will be made to the mortgage 

servicer to recast the loan or be used to fill a financial gap that limits a homeowner's 

eligibility for a loan modification or to extinguish the lien.

Funds may be used to reduce the outstanding principal balance, pay delinquent 

escrow or arrearages.

Recast or modification must result in a mortgage payment (including principal, 

interest, taxes, and insurance) of no more than 31 percent of a homeowner’s income. 

Homeowner must have demonstrated ability to maintain the mortgage under the new

terms.

The program is designed to work with loan recast, HAMP and non-HAMP 

modifications.

HHF Participating Servicers may refer interested homeownersfor participation in the 

program. The homeowner will apply via a secure website monitored and maintained 

by AHFA staff. Applications will be evaluated and approved by AHFA staff 

members. Approved homeowners will be expected to submit certain information 

documenting their inability to pay their mortgage and supporting their mortgage

claims.

2. Program Goals Provide assistance to underemployed Alabama homeowners who are unable to 

sustain their monthly mortgage obligation under the current loan terms. Providing 

funds will allow for a successful loan recast, loan modification or lien extinguishment 

for eligible borrowers.
B-3-2

3. Target Population / 

Areas

This program will assist low- to moderate-income families in Alabama. AHFA 

does not anticipate targeting this assistance on a geographic basis.

4. Program Funds 

(Excluding 

Administrative 

Expenses)

Not applicable. Program Funds may be disbursed under any program included 

in Schedule B.

5. Borrower Eligibility 

Criteria

The homeowner, in connection with a mortgage or real estate transaction, cannot 

have been convicted, within the last 10 years, of any one of the following: (A) 

felony larceny, theft, fraud or forgery, (B) money laundering or

(C) tax evasion.

Homeowners will be required to provide a financial Hardship Affidavit attesting to 

their inability to pay their mortgage. HHF will be available to qualified homeowners 

on a first-come, first-served basis.

Loan Modification and Loan Recast

 Homeowners applying for a loan modification or recast must have a total 

annual household income not to exceed 140 percent of the state median 

income (SMI). AHFA may change this income limit annually when new 

income data becomes available from the U.S. Department of Housing and 

Urban Development. Homeowner’s total housing ratio after assistance may 

not exceed 31% of the homeowner’s total household income.

 A homeowner’s eligibility for a loan modification or recast will also depend

on the servicer’s evaluation of the homeowner for a loss mitigation option.

Lien Extinguishment

 Homeowners applying for a lien extinguishment must have a total annual 

household income not to exceed 100 percent of the SMI. AHFA may change 

this income limit annually when new income data becomes available from the 

U.S. Department of Housing and Urban Development.

 Homeowners must be on a fixed income in order to be eligible for lien 

extinguishment. The homeowner’s post-assistance housing ratio including 

all remaining junior liens and mortgage related expenses (homeowners 

insurance, flood insurance, property taxes, and HOA fees) may not exceed 

31% of the total household income.

6. Property / Loan 

Eligibility Criteria

The homeowner must currently occupy the property as their primary residence, and 

the residence must be located within the state of Alabama. Eligible
B-3-3

structures include single- family homes, attached or detached, and manufactured 

housing attached to real property. The homeowner’s current first-lien mortgage must 

have an unpaid principal balance totaling no more than $258,690. Assistance for a 

loan modification or recast may not be used to reduce the property’s combined loanto-value below 80%.

7. Program Exclusions Mortgage loans on second homes or investment properties. 

Home Equity Line of Credit (HELOC).

Homeowners who have an ownership interest in a property other than their primary

residence.

8. Structure of 

Assistance

A single payment made payable to the servicer will be disbursed.

Homeowners receiving funds will execute a note and a subordinate mortgage lien in 

favor of AHFA that will be recorded in public records against the property. Loans 

will be zero percent and non-amortizing.

Loans originated between the pilot program commencement and December 31, 

2013, will be forgiven at the termination of a four-year term. Loans originated 

between January 1, 2014, and December 31, 2014, will be forgiven at the 

termination of a three-year term. Loans originated between January 1, 2015 and 

December 31, 2015 will be forgiven at the termination of a two-year term. Loans 

originated between January 1, 2016 and September 30, 2016 will be forgiven at the 

termination of a one-year term the day of the final disbursement. Loans originated 

between January 1, 2017, and December 31, 2018 will be forgiven at the termination 

of a two-year term. Loans originated on or after January 1, 2019 will be forgiven at 

the termination of a one-year term or at the End of Term (as defined in the 

Agreement), whichever comes first.

Loans will be repayable only if the homeowner sells the property before the 

forgiveness period expires and there is sufficient equity to pay all or part of the 

unforgiven balance of the loan. Repaid HHF funds will be used to assist additional 

homeowners in accordance with the Agreement.

Ongoing monitoring, repayments and satisfactions will be conducted through 

AHFA.

9. Per Household 

Assistance

Not to exceed a total of $30,000 per household.

10. Duration of 

Assistance

A single payment made payable to the servicer will be disbursed.
B-3-4

11. Estimated Number 

of Participating 

Households

1,200

12. Program Inception / 

Duration

The program will be available to homeowners after Treasury approval and will last

as long as the allocated amount of funds is available. After successful completion of

a 60-day pilot program, AHFA will make the funds available for a statewide release.

13. Program 

Interactions with 

Other HFA 

Programs

Homeowners may participate in other Alabama HHF programs as long as the 

homeowners meet all program requirements established for each program. The total

combined assistance for all programs may not exceed $60,000. Homeowners are 

required to apply separately for each program.

14. Program 

Interactions with 

HAMP

This assistance can interact with any and all loan modification programs, including 

HAMP, provided that the homeowner meets the qualification ns established by 

AHFA and Treasury for HHF. HHF funds can be utilized before or after assistance 

from HAMP UP.

15. Program Leverage 

with Other Financial 

Resources

None.
B-4-1

SERVICE SCHEDULE B-4

ALABAMA HOUSING FINANCE AUTHORITY

PROGRAM TERM SHEET 

SUMMARY GUIDELINES 

BLIGHT ELIMINATION PROGRAM

1. Program Overview AHFA will administer HHF to assist in the removal of blighted properties within 

the State of Alabama. AHFA will work in partnership with members of the Alabama 

Association of Habitat for Humanity Affiliates and local municipalities/counties

as defined by the Code of Alabama 1975 Title 11 (Participants) to ensure blighted 

properties located in healthy neighborhoods are removed and the site greened.

2. Program Goals The Blight Elimination Program will reduce foreclosures, promote neighborhood 

stabilization and maintain property values through the removal of unsafe vacant 

blighted single-family structures and subsequent greening in areas across the State 

ofAlabama.

AHFA will work with Participants to identify meaningful indicators that will 

enable them to track and quantify the program’s impact in the designated 

communities.

3. Target Population / 

Areas

This program will focus on targeted neighborhoods with vacant blighted properties. 

The program will targetsustainable neighborhoods within the state. Participants will 

submit an application which willinclude a comprehensive plan identifying targeted 

neighborhoods for proposed demolition. AHFA will evaluate each application and 

select Participants based on but not limited to the following criteria: the number of 

blighted properties in the targeted area, the age of the housing stock, the number of

vacant properties in the targeted area, and the proposed end use of the lots.

4. Program Funds 

(Excluding 

Administrative 

Expenses)

Not applicable. Program Funds may be disbursed under any program included 

in Schedule B.
B-4-2

5. Property Eligibility 

Criteria

Property will be considered eligible if it meets the following criteria:

 The property must be located in the State of Alabama.

 The property must be owned by a Participant.

 The property must be vacant at the time of application.

 The property is a nuisance due to age and/or condition as determined by 

local ordinance.

 The cost to remove the structure is reasonable as determined by the 

Participant.

 AHFA will determine property eligibility per program guidelines.

For any requests submitted on or after January 15, 2016, properties must 

not be legally occupied at the time of any review or approval by the HFA or 

eligible entity (as applicable) for blight elimination activity.

6. Ownership/Loan 

Eligibility Criteria

Properties must be owned by the Participant. Properties must have a loan that

can be modified or extinguished.

7. Program Exclusions Commercial properties, multifamily properties, and properties listed on a state 

or national historic register will not be eligible for inclusion in this program.

8. Structure of 

Assistance

Eligible Participants will submit an application for review by AHFA containing a 

comprehensive plan which outlines the neighborhood locations, neighborhood 

conditions, estimated cost of property removal and greening/maintenance 

strategies. Eligible sites must be owned by the Participant prior to demolition, 

located in a targeted neighborhood, vacant at the time of application, and be a 

nuisance to the community based on local ordinances. After the review of 

applications by AHFA, program funds will be set aside to eligible Participants 

based on the submitted plan. Program funds willreimburseParticipantsfor eligible 

expenses. Each Participant will be responsible for securing clear and marketable 

title for blighted properties.

The Participant must collaborate with an approved financial institution to finance 

the cost of removal of the blighted property. HHF assistance will not exceed 

$25,000 per property. Any cost exceeding $25,000 must be absorbed by the 

Participant.

AHFA will reserve funds via the Hardest Hit Alabama online reservation system. 

Prior to disbursement, required documentation must be submitted by the Participant 

to AHFA for review. Required documentation will include a Request for Funding 

Form, post-demolition photos, and a Certification of

Completion. Additional documentation may be required as determined by AHFA. 

A single payment made payable to the financial institution will be
B-4-3

disbursed after verification of the debris removal and greening (as applicable) has 

been provided. Eligible costs include removal of debris, contractor’s fees, permit 

fees, final inspections, environmental assessments, title searches, greening and 

maintenance (not to exceed $3,000.00) fees for a three-year period, and any other 

fees or charges required to complete the property removal. HHF will be used to 

extinguish the outstanding loan payable to the approved financial institution.

The Participant will execute a 0% non-amortizing loan in favor of AHFA. Loans 

will be forgiven at a rate of 33.3% per year on the anniversary of the final

disbursement as long as covenants are met. The outstanding loan balance will 

become due and payable if the property is sold, its title transferred, or it is used 

for an unauthorized purpose prior to the loan’s expiration. However, special 

considerations may be made by AHFA to release or subordinate its lien prior to 

the expiration of the loan term based upon the merit of the request and the 

proposed positive impact to the community as set forth in the program guidelines. 

The method for calculating the portion of the outstanding balance to be forgiven or 

released will be determined based upon the time and method of transfer. The 

outstanding balance may include any and all net sale proceeds and/ or the full 

principal balance of theloan.

Any recaptured funds will be recycled into the Program in accordance with the

Agreement.

9. Per Property 

Assistance

Maximum assistance may not exceed $25,000 per property.

10. Duration of 

Assistance

Funds will be disbursed to the Participants on a first-come- first-served basis. 

All assistance will be provided in one payment.

11. Estimated Number 

of Properties 

Demolished

50 properties

12. Program Inception / 

Duration

The program will begin on September 1, 2014 and will last as long as the allocation 

of funds is available or until September 30, 2018, whichever occurs first.

13. Program 

Interactions with 

Other HFA 

Programs

AHFA’s Habitat for Humanity Loan Purchase Program - a partnership in 

which the Habitat Affiliatessolicits the assistance of a local lender to serve as a 

conduit for the sale of the loan. The affiliate sellsthe mortgage to the local bank, 

which then sells the loan to AHFA.

14. Program 

Interactions with 

HAMP

None
B-4-4

15. Program Leverage 

with Other Financial 

Resources

None.
HHF Alabama Date: May 6, 2020

SCHEDULE C

PERMITTED EXPENSES

Alabama

One-time / Start-Up Expenses:

Initial Personnel $1,146,126.00

Building, Equipment, Technology $668,463.00

Professional Services $199,914.00

Supplies / Miscellaneous $131,193.00

Marketing /Communications $346,726.00

Travel $12,494.00

Website development /Translation $50,000.00

Contingency $131,193.00

Subtotal $2,686,109.00

Operating / Administrative 

Expenses:

Salaries $7,537,000.00

Professional Services (Legal, 

Compliance, Audit, Monitoring) $1,563,000.00

Travel 100,000.00

Buildings, Leases & Equipment $900,000.00

Information Technology & 

Communications $1,408,491.00

Office Supplies/Postage and 

Delivery/Subscriptions $200,000.00

Risk Management/ Insurance $200,000.00

Training $100,000.00

Marketing/PR $1,900,000.00

Miscellaneous $134,145.00

Subtotal $14,042,636.00

Transaction Related Expenses:

Recording Fees $4,500,000.

Wire Transfer Fees $200,000.00

Counseling Expenses

File Intake $3,639,707.00

Decision Costs $0.00

Successful File $693,452.00

Key Business Partners On-Going $1,467,542.00
Subtotal $10,500,701.00

Grand Total $27,229,446.00

% of Total Award 16.75%

Award Amount $162,521,345.00

C-2