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Section 4. <br />The county has determined that 5% of SHIP funds is insufficient to administer the program. The county shall <br />continue utilizing ten percent (10%) of the state SHIP allocation for administration of the SHIP Program. <br />Section 5. <br />The following table indicates the average and maximum SHIP funds allowable per unit for each assistance <br />strategy. <br />STRATEGY <br />AVERAGE LOAN <br />MAXIMUM LOAN <br />AMOUNT(S <br />AMOUNT ($ <br />10 Year LoanMMatching <br />0 <br />20,000.00 <br />e Loan <br />00 <br />20,000.00 <br />ment/Closin0 <br />30,000.00 <br />Almacte <br />tion Loan0 <br />50,000.00 <br />tion 10 Year Loan0 <br />*75�000.00* <br />50,000.00 <br />uisition Loan0 <br />20,000.00 <br />/Disaster Re air 10 Year Loa0 <br />25,000.00 <br />Low Income Housing Tax Credit (LIHT* <br />751000.00* <br />Grant <br />I V1 i„aroii,lig grant, the loan amount is per project not per unit. <br />The county's maximum SHIP assistance to any household shall be seventy thousand dollars ($70,000.00); this <br />maximum amount is available only to Very Low Income households awarded land acquisition, impact fee, and <br />downpayment closing cost combined assistance, Average SHIP assistance shall be thirty-fivethousand dollars <br />($35,000.00) per household. <br />Section 6. <br />Consistent with Revenue Proclamation 2007-26, the maximum purchase price for Indian River County is hereby <br />established as $237,031.00 for new or existing homes and condominiums. <br />The foregoing resolution was offered by Commissioner Flescher and seconded by Commissioner <br />Soldri and being put to a vote, the vote was as follows: <br />Chairman, Wesley S. Davis AYE <br />Vice Chairman, Joseph E. Flescher AYE <br />Commissioner, Gary Wheeler AYE <br />Commissioner, Peter D. O'Bryan AYE <br />Commissioner, Bob Solari AYE <br />K <br />