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<br /> V . SUNDAY , JUNE 4 , 2006 . SCRIPPS TREASURE COAST NEWSPAPERS
<br /> � ✓ �� ACH, FLORIDA10
<br /> 8 JENDA ,4
<br /> COPY OF THE AGENDA MAY PUBLIC NOTICE
<br /> 'Y CLERK 'S OFFICE , LOOK AT INDIAN RIVER COUNTY WILL BE
<br /> INWW. COVB . ORG OR LOCATE ACCEPTING APPLICATIONS FOR I
<br /> PARTICIPATION IN THE COUNTY
<br /> LOCAL HOUSING ASSISTANCE PROGRAM
<br /> Hq l N 'b ' Y4 Nnr v a Notice is hereby y given that ; starting July 7 , 2006 , the Board
<br /> of County
<br /> tlOri� ) o . Commissioners of Indian River County, Florida wilt be accepting
<br /> applications from households in the very low, low, and moderate income .c
<br /> categories for the purchase or rehabilitation of affordable housing units. �a
<br /> N Unless extended by the county, the application acceptance period will
<br /> Gast rlet ,)/, i G end on July 31 , 2006 . The County estimates that it will receive
<br /> $ 1 , 200 , 623 . 00 (including administrative costs ) for FY 2006-2007 from
<br /> the Florida State Housing Initiatives Partnership ( SHIP ) Program , which
<br /> will be made available through the Indian River County Local Housing
<br /> ) � Assistance Program for the following activities :
<br /> AVAILABLE LOCAL LOCAL ASSISTANCE
<br /> Type of Assistance Available by Income Category
<br /> Type of Assistance
<br /> EIncomeategory EstimatedAmount
<br /> Impact Fee GrantsImpact Fee Loahs $ 10, 000 . 00
<br /> I $200, 000. 00
<br /> tCANEHA N i Rehatillitation Loans VLI , LI , MI $270 , 561 . 00 Isi
<br /> =WIfh (ICS) insulatednbnCr�te [ormconstructtonfgrgreater Rehabilitation Grants VLI $ 100, 000. 00 3
<br /> [cretebiock IS,OOOiaBitpropagegebeFai6rt�ith5Oga11Pn Down Payment/Closing
<br /> 17
<br /> ti
<br /> �} to powet egttre hoose: Thermopane dows plu
<br /> wins storm $ 500 , 000 . 00
<br /> puchmore 1 's. year,hornewarrantyIMa..... . pointmentto :, Cost/Principal Reduction
<br /> [s�quehoge fi739,900 Loans for:
<br /> ,.: , , a . Purchase of an existing home without
<br /> rehabilitation ( not more
<br /> than 15 % of total funds ) VLI
<br /> b . Purchase of new home
<br /> ( less than one year old ) VLI , LI , MI
<br /> c . Construction orf new home VLI , LI , MI
<br /> d . Purchase of an existing home
<br /> being rehabilitated in the last y
<br /> 12 months VLI , LI , MI
<br /> �f N e . Combined purchase and
<br /> „ y Y rehabilitation of an existing home VLI , LI , MI
<br /> f . Combined Construction X199
<br /> ItE1E11LOCKFORS169,000 and Impact Fee Loans VLI , LI , M
<br /> --- --- -- G oabtget[yand`apphances„itleniq
<br /> dfloors, ew
<br /> washe[ fdryei n . VLI = Very Low Income ; Ll —Low Income; MI- I_ - Moderate Income
<br /> g ne
<br /> rluni
<br /> lbath homeis'great$rstatteohassle Assistance einvestor lyearltomewarranty $ 169,000 ance WIII be provided as deferred payment
<br /> loans that do not need
<br /> to be paid back until the assisted unit is sold , refinanced with " cash
<br /> i out " , or if someone other than the original loan recipient occupies the
<br /> assisted unit . Limited assistance will be provided as grants to very low -
<br /> income households only . The grant amount will be forgiven after 10 -
<br /> I ' that year residency requirement .
<br /> hOU �d know tl IC11 Applicants articipating in the Local Housing Assistance Program must rO (
<br /> k
<br /> meet the fo lowingrequirements :
<br /> n � Q 1 . income Level : A household ' s total annual gross income level must be
<br /> classified as either very low, low, or moderate based on the following table . EV
<br /> Sur ery Centers Indian River County Maximum Income Levels and Income Classification : 1
<br /> Household Very Low Low )e
<br /> t Moderate
<br /> ! Size Uo 0 50 % of MI 51 80 ° of MI 81 - 12of M1
<br /> Von Center T Person 19 , 450
<br /> }' 0 2 Persons 22 , 220 35 ' 550 53 ,280
<br /> I I a �O� u.11J t0 Offer: 4 Persons 25 , 000 39 , 950 60 , 000
<br /> �� 27 , 750 44 , 400 66, 600
<br /> 5 Persons 29 ; 950 41 950 71 , 880 IJ� fE
<br /> 6 Persons 32 , 200 51 , 500 77 280
<br /> I ( 10ED 7 Persons 34 , 400 55 , 050 82560 �®
<br /> 11CED
<br /> 8 Persons 36, 650 58, 600 87 , 960
<br /> �� ��®�®® �/ � MI = Median Income = $ 55 , 550 . 00
<br /> 2 . Employment : At least one of the household members must currently be L
<br /> employy�ed ( including having been continuously employed for the past
<br /> ICL ( Intraocular Contact Lens ) year) , be a seasonal farm worker for two seasons , or be a special needs
<br /> CK person ( elderly, disabled , etc ) .
<br /> 3 . Assets : A household ' s total assets shall not exceed $ 20, 000 , 00 .
<br /> 4 . Credit Verification : An applicant shall have satisfactory credit rating .
<br /> & J LASIK Monovision 5 fHomebuyerr lhreee(3) �yeears before beingsapp oshall
<br /> datohrece �e ownedhome
<br /> anQ 6 . Purchase Pr cue Licost
<br /> ttation�SThe purchase price for a home may not exceed : � C
<br /> t Here "On Sjf�a New Home : $ 249 , 584 . 00 Existing Home : $ 298 , 448. 00
<br /> I� � PROHIBITIQN 0 MOBILE HOMES esti '
<br /> the "Alphabet Sou u c )
<br /> Soup ' Funds may not be used to repair, rehabilitate , or purchase mobile homes ,
<br /> ose`�the beysst option for Information and applications may be obtained from and completed I®�
<br /> WITHOVu GLASSES Dppsion�s hous must
<br /> be
<br /> offiCeolocaaed at 1840t25thiStreet VerPlanning Florida , sut®
<br /> N1100URSOIRFSPONSESf01NEADVfRII3fMEltIfORFREE SERVI[E EXAMINATION 32960 , or call ( 77z ) 226 - 1870 or ( 772 ) 226 - 1594 .
<br /> d:
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