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The Policy Setting Committee will be responsible for guiding the program alongside the BCRHP <br />and the City of Boulder as the administrative jurisdiction. Success will be measured by how <br />closely the established goals are met. <br />The Homeownership Policy Exceptions Committee will be administered by the Program and <br />each participating jurisdiction will be collectively responsible for recruiting members to ensure <br />broad representation. <br />Policies and Procedures (Homeownership Program) <br />Affordable homes in the programs will be marketed and sold to qualified buyers according to the <br />existing policies and procedures developed by the City of Boulder and the Participating <br />Jurisdiction. These policies and procedures are living documents that will evolve to meet the <br />needs of the Homeownership Program and will continue to evolve with the involvement of the <br />participating jurisdictions through the Policy Committee. <br />One of the first tasks to launch the Program will be to modify current written materials (e.g., <br />policies, procedures, marketing, website, etc.) from a City of Boulder focus to a regional <br />approach to administration. Homes entering the Program from other jurisdictions will be <br />administered to the benefit of that jurisdiction's work force per the current Program policies and <br />procedures. <br />Policies <br />The following list of existing policies will be used as a basis to administer the Program specific <br />to homeownership: <br />1. Eligibility Requirements <br />a. Eligibility Requirements for Program Certification <br />b. Applications Missing Documents — Applies to New Applications and <br />Recertifications <br />c. <br />Income Limit Interpretation <br />d. <br />Income Change Policy <br />e. <br />Commission Based Income Policy <br />f. <br />Asset Limits <br />g. <br />Asset Decrease Policy <br />h. <br />Trusts <br />i. <br />Third Party Employment Verification <br />j. <br />Multiple Benefit <br />k. <br />Minimum and Maximum Number of Bedrooms <br />1. <br />Waiving Household Number + 1 Bedroom <br />in. <br />Homebuyer Education Class <br />n. <br />Gift Limitations <br />o. <br />Buyer's $2,000 Minimum Cash Contribution <br />p. <br />Ineligibility Policy <br />2. Selection <br />Process Policies <br />a. <br />Work and One -Year Certification Preferences <br />b. <br />Preferences for 3 or More Bedroom Units <br />c. <br />Occupancy Preferences <br />9 <br />