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DRAFT <br />(11) Specific Activity Requirements <br />For acquisition activities, include: <br />• Discount rate. The required discount rate for all home purchases will be <br />consistent with the HUD regulatory requirement. <br />For financing activities, include: <br />• Range of interest rates. The loans will carry three percent interest rates forgivable <br />over the forty five year period. <br />For housing related activities, include: <br />• Tenure ofbeneficiaries--rental or homeownership; <br />Tenure will be homeownership <br />• Duration or term of assistance; <br />Term of the City's trust deed will be forty five years <br />• A description of how the design of the activity will ensure continued affordability. <br />The City will use recorded trust deeds to ensure continued affordability. <br />18 <br />80B-28 <br />