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I. INTRODUCTION <br />This document, titled Indian River County Local Housing <br />Assistance Plan, outlines and provides the general guidelines, <br />operating procedures and assistance strategies of the Indian <br />River County Local Housing Assistance Program as established <br />by the Indian River County Board of County Commissioners via <br />Ordinance 93-13 (Please see Exhibit C); pursuant to the <br />requirements of the State of Florida State Housing Initiatives <br />Partnership (SHIP) Program and Rule 9I-37.0051 Local Housing <br />Assistance Plans, Florida Administrative Code (FAC). <br />The purpose and intent of the Indian River County Local <br />Housing Assistance Plan is to provide guidelines, operating <br />procedures and assistance strategies to be utilized by the <br />Indian River County Local Housing Assistance Program in order <br />to encourage the provision and rehabilitation of decent, <br />affordable housing for the residents of Indian River County. <br />Background <br />The provision of affordable housing has become a significant <br />issue throughout the United States, Florida and Indian River <br />County. The need for affordable housing is especially <br />significant for very low-, low-, and moderate -income <br />households which encounter various obstacles in their attempt <br />to obtain "affordable housing". These obstacles include, but <br />are not limited to, obtaining sufficient funds for the payment <br />of impact fees and/or down payments for housing units. <br />According to information provided by the 1990 U.S. Census, <br />approximately 60% of Indian River County's households may be <br />classified as very low-, low- or moderate -income households. <br />These households require housing; however, due to the <br />obstacles noted, they may not be able to secure adequate <br />housing. <br />The need for affordable housing for very low-, low- and <br />moderate -income households within the county is addressed in <br />the county's adopted comprehensive plan, specifically Housing <br />Element Policy 4.4. That policy reads as follows: <br />"The county shall establish a Housing Trust Fund <br />which will provide below-market interest rate <br />financing and/or grants for land acquisition, <br />construction and other related costs for the <br />development of affordable housing units in the <br />unincorporated area. The fund will also assist <br />non-profit facilitators with pre -development <br />expenses associated with very low, low and moderate <br />income housing development. Some disbursements <br />