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q, <br />RESOLUTION NO. 2003 - 026 <br />Section 3. <br />The Board of County Commissioners directs staff to submit two <br />copies of the Indian River County Local Housing Assistance <br />Plan to the Florida Housing Finance Corporation by certified <br />mail. A minimum of one of the two copies shall bear the <br />original signature of the Board of County Commissioners <br />Chairman. <br />Section 4. <br />The county shall continue utilizing ten percent (10%) of the <br />state SHIP allocation for administration of the SHIP Program. <br />Section S. <br />The county's maximum assistance from SHIP funds shall be <br />thirty-five thousand dollars ($35,000.00) per unit; average <br />assistance will be fifteen thousand dollars ($15,000.00) per <br />unit. <br />Section 6. <br />The following table indicates the average and maximum SHIP <br />funds allowable per unit for each strategy. <br />STRATEGY <br />AVERAGE LOAN AMOUNT <br />($) <br />MAXIMUM LOAN <br />AMOUNT ($) <br />Impact Fee Grant <br />5,000.00 <br />7,500.00 <br />Impact Fee Loan <br />51000.00 <br />7,500.00 <br />Downpayment/Closing Cost Loan <br />12,000.00 <br />15,000.00 <br />Rehabilitation Loan <br />15,000.00 <br />20,000.00 <br />Rehabilitation Grant <br />15,000.00 <br />20,000.00 <br />Land Acquisition Loan <br />7,500.00 <br />15,000.00 <br />Land Bank -Market Purchase Loan <br />7,500.00 <br />15,000.00 <br />Land Bank -Tax Deed Purchase <br />Loan <br />7,500.00 <br />15,000.00 <br />2 <br />