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7. Indian River County Local Housing Assistance Plan <br />(IRCLHAPlan): The,document adopted by the Indian River <br />County Board of County Commissioners which provides the <br />operating guidelines, procedures, and strategies of the <br />Indian River County Local Housing Assistance Program. <br />8. Indian River County Local Housing Assistance Program <br />(IRCLHAProgram): The program established by the Indian <br />River County Board of County Commissioners which <br />distributes funds contained within the Indian River <br />County Local Housing Assistance Trust Fund in order to <br />encourage the provision of affordable eligible housing <br />for eligible persons in Indian River County. <br />9. Indian River County Local Housing Assistance Program Loan <br />Review Committee (IRCLHAPLRC): The committee which <br />reviews submitted applications for Indian River County <br />Local Housing Assistance Program participation after said <br />applications have satisfied an initial application review <br />conducted by Community Development Department staff or a <br />third party entity identified by contract to conduct <br />application reviews. The Committee shall consist of <br />three members: the Indian River County Community <br />Development Director or his designee, a financial <br />institution representative or his or her alternate, a <br />J member of the Indian River County Board of County <br />Commissioners or his or her designee, who shall serve as <br />chairman of the Loan Review Committee. <br />10. Indian River County Local Housing Assistance Trust Fund <br />(IRCLHATF): The fund created by the Indian River County <br />Board of County Commissioners which holds funds received <br />from the State of Florida SHIP Program and other local <br />sources for distribution through the Indian River County <br />Local Housing Assistance Program. . <br />11. Land Bank: A method by which Indian River County may <br />acquire residential properties to be sold or granted to <br />eligible sponsors through the Indian River County Local <br />Housing Assistance Program. <br />12. Low Income Household: A household with total annual gross <br />income between 51% to 800 of the county's median income. <br />13. Moderate Income Household: A household with total annual <br />gross income between 81% to 1200 of the county's median <br />income. <br />14. Notice of Commitment: The written notification issued by <br />the Indian River County Local Housing Assistance Program <br />indicating that an eligible sponsor has qualified to <br />receive assistance from the Indian River County Local <br />67 <br />