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was option one and option two. The town took option one and in that <br /> option one there was a cap of$150,000.00 for an income level. There was <br /> no target for low to moderate income. However, within option two of the <br /> type of loan the town could have taken there was a target for lover to <br /> moderate. The low income was % of the median income area and <br /> moderate was 80% of the median income of the area. That was written <br /> within option two, "Vere was no targeting for low to moderate in option <br /> one. Can the board of health make? He believed they could do that but he <br /> wanted to check with Mr. Ayers so that they weren't confusing matters by <br /> mixing and matching options. <br /> Mr. Ball asked if they gent to option two would That kick out the <br /> $1509000s00a He wanted to keep that cap in. <br /> Mr, Harrington didn't know enough about the program. <br /> Mr. Ball felt that option one was working. <br /> Mr, Santos felt that in his opinion lets leave it the way it is. If it wasn't <br /> broken then don't fix it. <br /> Mr. Harrington asked if he should at least investigate it with Mr, Ayers, He <br /> would like to speak with Mr. Smith, upstairs in planning, because he deals <br /> with the 40131s, The 40131s are all used on median income for the area. He <br /> should be able to tell hire off the top of his head what those income levels <br /> are. He would speak to Mr. Ayers to see if the mix and match was <br /> possible without screwing up the program they currently are using. So <br /> they could toil the selectmen that they have investigated all of the <br /> options. <br /> Ms. Grady asked how much money was left in the program, <br /> Mr. Harrington responded that there was $ , gag for the rest of the <br /> year. October 20", 2003, was the approval date for the next round, which <br /> will be $170,000,00m <br /> Ms, Warden interjected that that would take six-months to obtain the <br /> money. <br /> IVIr. Harrington stated that Mr. Ayers told him that that process ha been <br /> speeded up because the one man who had held everything up had been <br /> removed. It was down to three months. So if it was approved in October <br /> they would have the money by the end of January. <br /> IVIS. Grady asked what was going on with I10 old Great Neck k Load. <br /> 1 <br />