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Impact Fee/Capacity Charges Grant Summary Page <br />Purpose: <br />To assist eligible persons with the cost of impact fees <br />and/or capacity charges associated with connection of <br />existing housing units to the county water and/or sewer <br />system or building new rental units with any State or <br />Federal Housing Grant. <br />Funding Source: State Housing Initiatives Partnership (SHIP) <br />Eligible Persons: <br />Assistance: <br />Criteria: <br />Very low income persons <br />Low-income persons (only when the impact fee/capacity <br />charge grant is a match for another State or Federal <br />Housing Program such as CDBG) <br />The County provides grants of up to $20,000 per unit for <br />the cost of impact fees and/or capacity charges. The <br />applicant must execute a grant agreement with the County <br />indicating that the applicant will comply with the <br />County's Local Housing Assistance Program's <br />requirements. <br />Income Eligible Households: VLI <br />the County's median income), LI <br />median income) <br />(not to exceed 50% of <br />(51-80% of County's <br />Property <br />Qualification: Owner -Occupied <br />Renter -Occupied only as match with <br />another State or Federal Housing <br />Program <br />Debt Ratio: N/A <br />Grant Period: <br />10 Years for owner occupied <br />50 Years for renter occupied <br />Interest Rate: Zero (0) <br />Repayment Terms: No payment is required except in <br />cases where the assisted owner <br />occupied unit is sold prior to 10 <br />years, refinanced with a cash out, or <br />occupied by someone other than the <br />original grant recipient. <br />6 <br />Renter occupied units must be kept as <br />affordable housing for at least 50 <br />years; otherwise the entire county <br />grant is due. <br />