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MENNEN Exhibit I DEFINITIONS All definitions and terms provided in Rule Chapter 67 - 37 . 002 , Florida Administrative Code ( FAC ) , and the State Housing Initiatives Partnership Program Rules , as amended , shall apply to the terms used in this Plan . 1 . Affordable Housing : Housing occupied by a household paying housing expenses which do not exceed 308 of the household ' s gross income . Where a first mortgage lender is satisfied that the household can afford mortgage payments that exceed the 308 benchmark , such housing may be considered affordable as lona as the total debt to income ratio does not exceed 418 for very low and low income households and 458 for moderate income households . Monthly housing cost for owner - occupied housing shall include mortgage principal and interest , taxes , and insurance . Monthly housing cost for renter - occupied housing shall include contract rent . However , it is not the intent to limit a household ' s ability to devote more than 308 of its income for housing . Programs and policies of this Plan with regard to affordable housing shall be limited to those households in the very low- ( less than 508 of median income ) , low ( 51 - 808 of median ) and the moderate- ( 81 - 1208 of median ) income groups . 2 . Annual Report : The annual summary and review report analyzing and listing the accomplishments of the Indian River County Local Housing Assistance Program provided on forms mandated by the FHFC . 3 . Assistance Strategy ( Strategy ) : A method utilized by the Indian River County Local Housing Assistance Program to provide assistance to eligible sponsors in order to encourage the provision of eligible housing for eligible persons in Indian River County . 4 . Draw ( s ) : A partial payment of a larger , cumulative sum of funds . 5 . Encumber Funds ( Encumbrance of Funds ) : The process of committing available funds allocated through the Indian River County Local Housing Assistance Program Loan Review Committee to an eligible household or an eligible sponsor by approving and setting aside funds for the purchase or rehabilitation of a housing unit . 6 . Essential Service Personnel : Means persons in need of affordable housing who are emploved in occupations or professions , such as Law Enforcement , Fire and Emergency Services , Public Administration , Education , Health Care , Public Utilities , and similar fields , which are considered essential services . - - 7 . Housing Code Inspection : An inspection of an existing or rehabilitated housing unit by a Building Department Inspectors ) or other authorized inspector ( s ) , whereby compliance of the unit with current building and safety code standards is evaluated . 8 . Indian River County Local Housing Assistance Plan : The document adopted by the Indian River County Board of County Commissioners which provides the operating guidelines , procedures , and strategies of the Indian River County Local Housing Assistance Program . 9 . Indian River County Local Housing Assistance Program : The program established by the Indian River County Board of County Commissioners which distributes funds contained within the Indian River County Local Housing Assistance Trust Fund in order to encourage the provision of affordable eligible housing for eligible persons in Indian River County .