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REVISED NSP3 Abbreviated Action Plan Indian River County —' '�=-n" 7-2-12 Page 12 be problematic for the County to pursue the development of affordable rental housing in the target area. Therefore, a rental housing strategy with procedures to create preferences for the development of affordable rental housing is not proposed. Through the program, the County commits to acquiring, rehabilitating, and selling thirteen (13) single family housing units to income qualified households. Of those thirteen (13) housing units, ten (10) a will be sold to households with incomes at or below 120% AMI, and three (3) will be sold to households at or below 50% AMI. While the County commits to the thirteen (13) total housing units for NSP3, the county anticipates acquisition and rehabilitation of between twenty (20) and twenty four (24) with the NSP3 $1,500,428 base allocation. Because the County cannot predict future market conditions and does not want to be locked into a number that is too high, the County is committing to fewer than the 20-24. In addition to the housing units to be acquired and rehabbed with the base NSP3 allocation, the County anticipates using NSP1 and NSP3 Program Income to acquire and rehab another eight (8) to ten (10) housing units. That should result in the County's total number of units being closer to the HUD NSP3 Target Area Mapping software's projected number of units to make an impact. These numbers do not take into account the number of homes in the target area that Indian River Habitat for Humanity has already acquired, rehabilitated and sold. Area of Greatest Need is located south of Oslo Road (9th Street SW), east of 27th Location Description Avenue, north of 25th Street SW, and west of Old Dixie Highway. Refer to Attachment 1 for the results of the proposed target area. Source of Funding Dollar Amount NSP3 $375,107.00 (Other funding source) $ Budget (Other funding source) $ Total Budget for Activity $375,107.00 Decreased number of vacant homes in market and increased average sales price of homes in Area of Greatest Need (AGN). Approximately 3 housing units will be Performance Measures purchased, rehabbed, and re -sold to income qualified households (at or below 50% AMI). Additional housing units may be purchased, rehabbed, and re -sold to income qualified households utilizing "program income". Projected Start Date 6/1/2011 Projected End Date 5/31/2014 Responsible Organization Name Name Location Location Administrator Contact Info Administrator Contact Info REVISED NSP3 Abbreviated Action Plan Indian River County —' '�=-n" 7-2-12 Page 12