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The following verifies that the written agreement includes the provisions required in Section <br />92.504: <br />Required Provisions <br />Use of HOME Funds <br />Included in <br />Written <br />Agreement <br />® <br />Section of <br />Written <br />Agreement <br />5A <br />Affordability <br />® <br />7 <br />Project is identified by Address or Legal Description <br />® <br />Exhibit A <br />Project Requirements <br />® <br />7 <br />Property Standards <br />® <br />11.11 <br />Other Federal Requirements <br />® <br />11 <br />Affirmative. Marketing <br />® <br />11.9 <br />Requests for Disbursement of Funds <br />® <br />6 <br />Records & Reports <br />11.16 <br />Enforcement of the Agreement <br />® <br />21 <br />Duration of the Agreement <br />® <br />7.1.A <br />Conditions for Religious Organizations <br />❑ <br />NA <br />CHDO Provisions <br />❑ <br />NA <br />Identifies all Parties to the Agreement <br />® <br />Recitals <br />Provides dated signatures for each Party <br />X <br />21.19 <br />Recommended Additional Provisions: <br />■ Description of Project <br />® <br />Exhibit F <br />■ Roles & Responsibilities <br />® <br />6 <br />• Conflict of Interest <br />® <br />11.18 <br />■ Monitoring <br />® <br />11.19 <br />D. Layering Requirements <br />HOME regulations require projects to provide a layering analysis demonstrating that the HOME <br />assistance is required to provide affordable housing. Based on the results of the preceding <br />underwriting analysis, KMA concludes that the Developer's request for $2,627,631 in HOME <br />assistance from the City is warranted by the Project economics. As such, it can be concluded <br />that the assistance package complies with the HOME layering requirement. <br />E. Cost Allocation (§92.205(d)) and HOME Unit Designation (Table 5) <br />HOME funds may only be used to pay eligible costs for HOME assisted units. When the City <br />designates fewer than 100% of the units as HOME assisted, the City must calculate the eligible <br />costs that are allocable to the assisted units and may only pay the actual costs related to those <br />HOME assisted units, capped by the maximum subsidy limits previously described. The <br />financial gap analysis concludes that the Project needs $2,639,000 in HOME assistance; <br />however, the Developer is only requesting $2,627,631 in HOME funds. <br />City of Santa Ana HOME Subsidy Layering Review: Santa Ana Arts Collective Page 119 <br />25J-41 <br />