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Indian River County NSP3 Abbreviated Action Plan 1. NSP3 Grantee Information 2. Areas of Greatest Need u sn:.: ion The map generated at the HUD NSP3 Mapping Tool for Preparing Action Plan website is included as Attachment 1. D escribe the data sources used to determine the areas of greatest need. Response: The main data source used to determine areas of greatest need was the web based HUD NSP3 Target Area Mapping software which allowed the County to draw potential target areas on a map and review a range of foreclosure data. Besides other data, the output from this website includes an NSP3 Foreclosure Need Score (NSP3NEED) The NSP3NEED is an indicator of a selected target area's need for N SP3 assistance based on a formula using such factors as rate of subprime loans, foreclosure rates, vacancy rates, rate of increase in unemployment and fall in home values. According to applicable regulations proposed target areas with a NSP3NEED greater than 17 are eligible for consideration as N SP3 Target Areas. Other categories of data provided from the HUD NSP3 Target Area Mapping software include number of housing units in a selected target area, percentage of persons 120% and 80% AMI or below, vacancy rate (number of units not receiving mail in last 90 days), number of high cost mortgages executed between 2004 and 2007, estimated rate of mortgages seriously delinquent in June 2010, estimated number of foreclosure starts over the last year, estimated number of completed foreclosures in the past year, and percent fall in housing values since peak value. In addition to the NSP3 Target Area Mapping software, data sources used to identify the areas of greatest need included the County Property Appraiser's files on foreclosures and distressed sales, local staff experience with the County s NSP1, and input from local nonprofit housing organizations that are actively involved with purchasing foreclosed and/or distressed properties within the County. REVISED NSP3 Abbreviated Action Plan Indian River County — 2 11 117 2 12 Attachment 1 Page 1 NSP3 Program Administrator Contact Information Name (Last, First) Keating Robert M. Email Address bkeating@ircgov.com Phone Number 772-226-1254 Fax Number 772-978-1806 Mailing Address 1801 27th Street, Vero Beach, FL 32960 Web Address http://www.ircgov.com/ 2. Areas of Greatest Need u sn:.: ion The map generated at the HUD NSP3 Mapping Tool for Preparing Action Plan website is included as Attachment 1. D escribe the data sources used to determine the areas of greatest need. Response: The main data source used to determine areas of greatest need was the web based HUD NSP3 Target Area Mapping software which allowed the County to draw potential target areas on a map and review a range of foreclosure data. Besides other data, the output from this website includes an NSP3 Foreclosure Need Score (NSP3NEED) The NSP3NEED is an indicator of a selected target area's need for N SP3 assistance based on a formula using such factors as rate of subprime loans, foreclosure rates, vacancy rates, rate of increase in unemployment and fall in home values. According to applicable regulations proposed target areas with a NSP3NEED greater than 17 are eligible for consideration as N SP3 Target Areas. Other categories of data provided from the HUD NSP3 Target Area Mapping software include number of housing units in a selected target area, percentage of persons 120% and 80% AMI or below, vacancy rate (number of units not receiving mail in last 90 days), number of high cost mortgages executed between 2004 and 2007, estimated rate of mortgages seriously delinquent in June 2010, estimated number of foreclosure starts over the last year, estimated number of completed foreclosures in the past year, and percent fall in housing values since peak value. In addition to the NSP3 Target Area Mapping software, data sources used to identify the areas of greatest need included the County Property Appraiser's files on foreclosures and distressed sales, local staff experience with the County s NSP1, and input from local nonprofit housing organizations that are actively involved with purchasing foreclosed and/or distressed properties within the County. REVISED NSP3 Abbreviated Action Plan Indian River County — 2 11 117 2 12 Attachment 1 Page 1