Project Description: The Down Payment Assistance Program will provide up to $10,000 in down payment/closing cost assistance to eligible households. CPA Community Housing funds can only be used for households earning up to 80% of HUD’s Annual Median Income (AMI) limit. As of May 2023, the 80% AMI for a Middleboro family of four is $94,600. An Affordable Housing Restriction will be placed on each home assisted with these funds. One tenth (1/10) of the grant amount to each family will be forgiven each year the family remains in the home. At the end of ten years, the grant will be forgiven and the lien released. GOALS – The statutory requirement for the Community Housing component of CPA is to “support housing affordability, including direct assistance”. The goal of this 1st Time Homebuyers Down Payment Assistance program is to assist families in realizing the American dream of home ownership. Most households in the 80% AMI income range, can afford the mortgage, but have difficulty saving sufficient funds for the necessary down payment -this program, will help alleviate that problem. This Office will also be applying for a Massachusetts Community Development Block Grant (CDBG) in the amount of $50,000 for down payment / closing cost assistance. Therefore, we will be able to assist ten (10) households. COMMUNITY BENEFIT – This 1st Time Homebuyers Down Payment Assistance program will allow current residents the opportunity to purchase a home in their community. As stated in the Community Preservation Plan, over 40% of Middleboro households meet the income threshold for community housing and will be eligible for this program. By leveraging CDBG funds to augment the CPA funds for this down payment assistance program, we are promoting awareness as well as access to other housing resources available to the community. Additionally, by recording an Affordable Housing Restriction at the Plymouth County Registry of Deeds we are maintaining Middleboro’s 10% affordable housing as required by the state. ELIGIBLE FOR CPA FUNDING, The CPA statute defines the term “support” for community housing programs as “programs that provide grants, loans… or other forms of assistance directly to individuals and families who are eligible for community housing”. PROJECT FITS THE COMMUNITY PRESERVATION PLAN – This project meets the Housing Goals as stated in Middleborough’s 2021-25 Community Preservation Plan by directly providing down payment assistance funds to eligible families.