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bbreviated Action <br />1. NSP3 Grantee Inforinatien <br />NSP3 Program Administrator Contact Information <br />Name (Last, First) <br />Keating, Robert M. <br />Email Address <br />bkeatin>;@ircgov.com <br />Phone Number <br />772-2264254 <br />Fax Number <br />772-9784806 <br />Mailing Address <br />180127 Ih Street, Vero Beach, FL 32960 <br />Web Address <br />http://www.ircgov.com/ <br />2. Areas of Greatest Need. <br />The map generated at the HUD NSP3 Mapping Tool for Preparing Action Plan website is included as <br />Attachment 1. <br />Describe the data sources used to determine the areas of greatest need. <br />Response: <br />The main data source used to determine areas of greatest need was the web based HUD NSP3 Target <br />Area Mapping software which allowed the County to draw potential target areas on a map and review a <br />range of foreclosure data. Besides other data, the output from this website includes an NSP3 <br />Foreclosure Need Score (NSP3NEED). The NS133NEED is an indicator of a selected target area's need for <br />NSP3 assistance based on a formula using such factors as rate of subprime loans, foreclosure rates, <br />vacancy rates, rate of increase in unemployment, and fall in home values. According to applicable <br />regulations, proposed target areas with a NSP3NEED greater than 17 are eligible for consideration as <br />NSP3 Target Areas. Other categories of data provided from the HUD NSP3 Target Area Mapping <br />software include number of housing units in a selected target area, percentage of persons 120% and <br />80% AMI or below, vacancy rate (number of units not receiving mail in last 90 days), number of high cost <br />mortgages executed between 2004 and 2007, estimated rate of mortgages seriously delinquent in June <br />2010, estimated number of foreclosure starts over the last year, estimated number of completed <br />foreclosures in the past year, and percent fall in housing values since peak value. <br />In addition to the NSP3 Target Area Mapping software, data sources used to identify the areas of <br />greatest need included the County Property Appraiser's files on foreclosures and distressed sales, local <br />staff experience with the County's NSP1, and input from local nonprofit housing organizations that are <br />actively involved with purchasing foreclosed and/or distressed properties within the County. <br />REVISED NSP3 Abbreviated Action Plan <br />Indian River County -9.91_'177-2-12 Attaclinlent Z Page 1 <br />