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4, 75 ReB . OTIr. ,
<br /> iil 4 , 7J INDIAN iIiVER G0IlNTf
<br /> WILL SE ACCEPTING
<br /> APPLICATIO(4S. FOR. PARTICIPATION IN THE
<br /> COUNTY LOCAL HURRICANE HOUSING
<br /> RECOVERY PROGRAM
<br /> w - - Notice . Is hereby - given -.that, starting August 8, 2005, the Board of County
<br /> Commissioners of Pndlan River. County, Florida will be accepting, applications from
<br /> households in the extremely, low very law, low, and moderate income categories
<br /> and from non�ProfR organ"abons or for-profit develo�ars for the purchase,
<br /> • ' Gash O,Ut' rehatiilitahon, or protlucllon. 'of ' affordable housingunits consistent with the
<br /> • Stated Income - County's Hurricane ,Housing Recovery Plan. The County estimates that d will
<br /> �* • AI ( Credlt Loans r0ceive $14,563228.00 including administrative costs) for FY 2005-2006, - F1'
<br /> 2b06-2007, and �1' 2007008 from the:Florida State Hurricane Housing Recovery
<br /> Bankruptry _ ; f�HRR) Progpram, which will pe made. available through the Indian River County
<br /> Lveal Run cahe HousllfaRacorery Program for the following activi0as: -
<br /> AVAILABLE LOCALAnISTANCE
<br /> Type of Assistance Available by Income Cate or
<br /> T pe of AsSistahco
<br /> m6orreGategory Estimated Amount
<br /> ALWAYS : THE BEST Impact Fee Brants ELI, VU, LI $700,000.00
<br /> 7' r� Im ct Fee Loans . : ELI -VLI; LI, MI . $460,090.00
<br /> RATE FIRST DIRECT
<br /> geffnitafion or Re lacement Loans EL'I VLI LI, MI $77a 743.0o
<br /> OUR DIRECT Rehabilitatldn or He lacement Grants W. VU, LI $3,500000.00
<br /> Down a menUGlosin cosUPnncl ru -
<br /> WHOLESALE RATES ! Reduction Loans, ' . EL vu . 0 MI $s00000.00
<br /> �Y
<br /> -���� ® ��� Land Acgwsifion Loans _ .ELI, VLI, LI - $500,000.00 -
<br /> Trt (through non-prord
<br /> i" 'V"" "1 °rganizanons only) .
<br /> Apply online _A Matching Cranifor Fetleral ELI, VLI , LI, MI $6,DOD,000:00
<br /> �e. 2417 and State Housing Programs - (through non-profit org.
<br /> www.manningfinanCla :COm - or developers)
<br /> neer INAR1 = [d emely Low Income, VU = Very low Income; U .= Unyi coma; Ml = 11Wns o income
<br /> I
<br /> Most assistance will be provided as deferred payment loans. These loans do not
<br /> need to be paid back until the assisted unit is sold, refinanced with a "cash out' or
<br /> occupied by someone other than the original loan recipient. Some assistance will
<br /> be provided as grants. For grants , the grant amount will be forgiven after meeting
<br /> affordability,time frame - .
<br /> ONE-PEARADJUSTABLE Applications for the Local Hurricane Housing Recovery Program must meet the
<br /> POINTS 1)N, LOCK CAP fallowing requirements..
<br /> -1 . - income Level for s household eligible to occupy assisted units : A
<br /> 0.00 5 % 30 2/6- household's total annual gross income level must be following
<br /> as either extremely
<br /> z
<br /> low, very low, low, or moderate income based on the following table.
<br /> NQ 5% 30 2/6 Indian River County Maximum Income Levels
<br /> and Income Classification:
<br /> 0.00 5% 30 2)6 Household - Extremely,Low _Very Low - Law Moderate
<br /> size Uolo30% ofMl LIP to50%ofMl51 -80% of- MI 81 -1205SofMl`-
<br /> 1 ,Person 1.,200 18,650 29,850 - 44,760
<br /> NQ _ 2Persons 12,800 21 ,300 34.100 51 ,120
<br /> 3 Persons
<br /> 14,400 . 23;950 38'400 . 57,480
<br /> 4 Persons 16,000 26,650 42,656 63,960
<br /> NQ - 5°/y 30 2/6 5 Persons 17,250 - 28,750 46;050 69 ,000
<br /> 6 Persons 18,550 30,900 49,450 74 ,160
<br /> 7.Persons 19,850 33 ,000 52,850 79,200'
<br /> 0.00 5% 30 2/6 8 Persons 21 ,100 35,150 1 66,300 84,360
<br /> MI = Median income = $53,250 .00
<br /> NQ - 5% 30 2/6 2. Maximum. amount`of rent to be charged to eligible households.
<br /> Indian River County Maximum Rents
<br /> 0.00 5% 45 2/6
<br /> Unit " ELI VLI LI MI .
<br /> 1:00 10°/g 30 2/5 .
<br /> Efficiency 28 ass = 746' t,t1s
<br /> -1 Betlrobm' - 300 499 799 , 1 ,198
<br /> 28etlrooms - 360 . . 598 - 9611 1437
<br /> NQ 5% 30 - 2/6 '3 Bedrooms 415 e92 - 1108 1 662
<br /> 4 Bedrooms 463 772 1 ;236 1 ,854
<br /> 0.00 5% 30 - 2/6 3. - Homebuer Status: No member of household shall have owned, a home 1or at
<br /> .least three (3M. ars before being approved to receive down payment/closing cost
<br /> NQ 5°/v 30 2/6 assistance.
<br /> 4.Purchase Price Limitation: The purchase price for new and existing homes may
<br /> - occupied home wait a 20% down payment not exceed $189,682.00.
<br /> 1licefioo fed and should be checked. - � � � � � ' '
<br /> knot provided: WA = Not Applicable Consumers with ' Information and applications may. be obtained from and completed oppllocatn mutt be
<br /> TUNE at 1-800-848-3792. submitted to the Indian River County Phi 01010D Is housing ulna toasted at 1840
<br /> 25th Street, Vero Beach, Flodda , 320151), (772) 226.1694 or (772)-226-1464
<br />
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