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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 AVERAGE LOAN MAXIMUM LOAN <br /> AMOUNT $ AMOUNT ($ <br /> Almacte 10 Year Loan *75�000.00 * <br /> 00 20,000.00 <br /> e Loan 00 20,000 .00 <br /> ment/Closin0 30,000.00 <br /> tion Loan 0 50,000 .00 <br /> tion 10 Year Loan 0 50,000 .00 <br /> uisition Loan 0 20,000 .00 <br /> /Disaster Re air 10 Year Loan 0 25,000 . 00 <br /> Low Income Housing Tax Credit (LIHTC) Matching * 751000 . 00 * <br /> Grant <br /> * For the LIHTC matching 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 ($70,000.00); this <br /> maximum amount is available onlyto Very Low Income households awarded land acquisition, impact fee, and <br /> downpayment closing cost combined assistance , Average SHIP assistance shall be thirty-fivethousand dollars <br /> ($ 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 /> 2 <br />