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Exhibit I <br /> 10 . Indian River County Local Housing Assistance Program Loan Review <br /> Committee : The committee which reviews submitted applications for <br /> Indian River County Local Housing Assistance Program participation <br /> after said applications have satisfied an initial application review <br /> conducted by Community Development Department staff or a third party <br /> entity identified by contract to conduct application reviews . The <br /> Committee shall consist of three members : the Indian River County <br /> Community Development Director or his designee , a financial institution <br /> representative or his or her alternate , a member of the Indian River <br /> County Board of County Commissioners or his or her designee , who shall <br /> serve as chairman of the Loan Review Committee . <br /> 11 . Indian River County Local Housing Assistance Trust Fund : The fund <br /> created by the Indian River County Board of County Commissioners which <br /> holds funds received from the State of Florida SHIP Program and other <br /> local sources for distribution through the Indian River County Local <br /> Housing Assistance Program . <br /> 12 . "Low- income person" or "low- income household " : means one or more <br /> natural persons or a family that has a total annual gross household <br /> income that does not exceed 80 percent of the median annual income <br /> adjusted for family size for households within the metropolitan <br /> statistical area , the county , or the non -metropolitan median for the <br /> state , whichever amount is greatest . <br /> 13 . Moderate Income Household : "Moderate - income person" or "moderate - <br /> income household" : means one or more natural persons or a family that <br /> has a total annual gross household income that does not exceed 120 <br /> percent of the median annual income adjusted for family size for <br /> households within the metropolitan statistical area , the county , or the <br /> non -metropolitan median for the state , whichever is greatest . <br /> 14 . "Very- low income person" or "very- low income household" : means one or <br /> more natural persons or a family that has a total annual gross <br /> household income that does not exceed 50 percent of the median annual <br /> income adjusted for family size for households within the metropolitan <br /> statistical area , the county , or the non -metropolitan median for the <br /> state , whichever is greatest . <br /> FXommunity Development\Users\SHIP\NEW FY DOCSTY2006-2007\Exhi6it I LHAP.doc <br />