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local housing assistance program, cooperative ventures with non-profit groups , or <br /> Community Development Block Grant ( CDBG ) type programs to effect spot removal of <br /> blighted structures and blighting influences . <br /> - Housing Element Policy 4 . 4 <br /> POLICY 4 . 4 : The County shall maintain its Housing Trust Fund , which provides <br /> below-market interest rate financing , and/ or grants for land acquisition , <br /> downpayment / closing cost loans , impact fee payment loans , and rehabilitation <br /> loans for affordable housing units in the county . The fund will also assist non- <br /> profit facilitators with pre- development expenses associated with very low , low , <br /> and moderate income housing development . Some disbursements from the Housing <br /> Trust Fund will be grant , but the majority of funds will be revolving loans , with <br /> borrowers paying back principal and applicable interest into the trust , therefore <br /> ensuring a permanent source of financing . <br /> - Housing Element Policy 4 . 5 <br /> POLICY 4 . 5 : The county shall enter into interlocal agreements with any county <br /> municipality which because of unusually high property values or coastal high <br /> hazard area constraints cannot meet is affordable housing needs within its <br /> jurisdiction , and desires to contribute to the Housing Trust Fund . The amount <br /> and method of payment will be established prior to execution . <br /> - Housing Element Policy 4 . 6 <br /> POLICY 4 . 6 : The County shall maintain its affordable housing partnership with <br /> financial institutions for leveraging State Housing Initiatives Partnership <br /> Program ( SHIP ) funds . <br /> - Housing Element Policy 4 . 7 <br /> POLICY 4 . 7 : The County shall encourage increased home ownership by providing <br /> downpayment / closing cost loan assistance to eligible very low income , low income , <br /> and moderate income households through the county ' s local housing assistance <br /> program . <br /> - Housing Element Policy 4 . 9 <br /> POLICY 4 . 9 : The County shall require all applicants for downpayment / closing cost <br /> loan assistance from the Indian River County Local Housing Assistance Program to <br /> attend a homebuyers ' educational program workshop as a prerequisite for getting a <br /> . loan . The homebuyers ' educational program provides useful information to people <br /> wanting to buy their own home . Typical subjects presented are as follows : <br /> - Preparing for homeownership ( including budgeting , saving , etc . ) <br /> - Shopping for a home <br /> - Obtaining a mortgage ( qualifying , processing , etc . ) <br /> - Understanding mortgages and the closing process <br /> - Life as a homeowner ( includes maintenance and responsibilities ) <br /> - Credit and credit reports <br /> - Housing Element Policy 9 . 1 <br /> POLICY 9 . 1 : The County shall maintain its local housing assistance programs . As <br /> part of this coordination process , the county will accept funds , land , in- kind <br /> services , or other types of payments for housing assistance purposes from local <br /> municipalities , which are unable to provide sites for low cost housing within <br /> their jurisdictions . <br /> Affordable Housing Incentive Strategies Evaluation <br /> The county ' s affordable housing incentive strategies are implemented through <br /> 48 <br />