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2003-026
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2003-026
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Last modified
1/17/2023 12:53:10 PM
Creation date
9/30/2015 5:00:39 PM
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Resolutions
Resolution Number
2003-026
Approved Date
03/11/2003
Resolution Type
Housing
Entity Name
Florida Housing Finance Corp.
Subject
Approve Local Housing Assistance Plan SHIP Program
Fiscal Year 2003-04, 2004-05, 2005-06
Archived Roll/Disk#
2746
Supplemental fields
SmeadsoftID
2366
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verification with this requirement shall be <br />conducted on an annual basis. For units <br />receiving principal financing from a financial <br />institution, payment of property taxes will be <br />made through an escrow account. <br />iii. Owner and Eligible Person Occupancy <br />Verification <br />Occupancy requirement shall be consistent with <br />provision identified for each assisted <br />strategy. <br />Compliance verification with this requirement <br />shall occur as needed. <br />b. Non-compliance Notification <br />The owners of housing units found not in compliance <br />with the required IRCLHAProgram and Strategy <br />requirements shall be notified that the unit has <br />been found "not in compliance" and if the non- <br />compliance status is not corrected within thirty <br />(30) working days, the housing unit may be subject <br />to foreclosure under the subordinate mortgage <br />compliance agreement at the discretion of the Board <br />of County Commissioners based upon the <br />recommendation of the IRCLHAProgram Loan Review <br />Committee. <br />For housing units found to be chronic or repeat <br />non-compliance units, the IRCLHAProgram shall have <br />the authority to foreclose upon the housing units <br />and take possession of the units from the owner. <br />Chronic or repeat non-compliance shall be <br />considered more than two (2) non-compliance <br />findings in one year, or more than three (3) non- <br />compliance findings all together. <br />8. Assisted Housing Unit Resale <br />The resale of housing units assisted by the IRCLHAProgram <br />will require coordination with Indian River County, and <br />satisfaction of the mortgage or subordinated mortgage <br />held by Indian River County. <br />The resale of owner -occupied housing units assisted by <br />the IRCLHAProgram shall be subject to repayment of the <br />full loan amount. <br />The payment of the principal loan amount shall be <br />consistent with provisions identified for each assistance <br />strategy. <br />We <br />
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