2012-083 - Laserfiche WebLink

Home Browse Search

required to go through the full client application process to determine eligibility and ranking . At least five (5) working days prior to leasing each rental unit to an applicant, the selected non-profit or for profit organization( s) shall provide an opportunity for County staff or the County ' s representatives to review the applicant file of the to -be-rented unit at the organization ' s site . The County staff or county representative ' s review will be for the purpose of verifying compliance with NSP CDBG eligibility requirements . All approved and denied applicant files for the NSP CDBG rental program shall be kept and maintained at the office(s) of the selected non-profit or for profit organizations , and those files shall be available for county review when requested . Any organization( s) chosen through a request for proposal process to purchase, rehabilitate, own and manage NSP acquired rental properties must have at minimum of five (5 ) years experience in the management of federal or state funded rental properties . Each NSP rental property will be purchased by one of the selected non-profit or for profit organizations . On each rental property purchased and rehabilitated with NSP funds , the local government will place a deed restriction . The deed restriction placed on the rental property; will require that the property remain affordable during the fifteen ( 15 ) year period to the specified Area Median Income (AMI) group that it is targeted to . The deed restriction will be for a period of fifteen ( 15 ) years and will prohibit transfer of the property from the non-profit organization. If the terms of the deed restriction are violated, the total amount of NSP funds expended for the property shall be due and payable . All rents will be affordable based upon the tenant' s income and HUD ' s Annual Fair Market rent limits . Transfer of title from one non-profit or for-profit entity to another non-profit or for-profit entity, for essentially the same uses and purposes as the originally intended uses and purposes , will not constitute a violation of the deed restriction . All requirements placed on the original non-profit or for-profit entity shall flow down to any qualified subsequent non-profit or for-profit entity of NSP properties . The non-profit or for-profit entity desiring to transfer title to another non-profit or for-profit entity must obtain approval of the transfer from the Indian River County Board of County Commissioners a minimum of sixty (60) days prior to transfer of title . The qualified subsequent purchaser must become a named party to the Agreement between Indian River County and the original non-profit or for-profit entity . 3 . ACQUISITION PURCHASE ASSISTANCE With respect to the acquisition purchase assistance strategy, a notice will be placed in a newspaper with local circulation advising all local owners of foreclosed or abandoned properties , including lending institutions, of the availability of the NSP program and of the local government ' s intent to purchase foreclosed, abandoned, blighted and deed in lieu of foreclosure properties . 9