Valley Community Development Corporation will provide four (4) $50,000, 0% interest, 30 year deferred payment loans (plus administrative costs) as mortgage subsidies to write down the cost of a home to LMI (low/moderate income) households earning 100% or less of Area Median Income to assist them with a purchase of a home in the Town of Amherst. Any buyers of these financially assisted homes would be counted on the Town’s subsidized housing inventory. A mortgage and note would be executed by the buyer(s) outlining the terms and conditions of the use restriction(s). This proposal also includes additional costs to administer the program and new homeowner counseling