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REVISED NSP3 Abbreviated Action Plan Indian River County — y__, �7-2-1Z Page 5 households (homeownership), the minimum length of time that the property must remain affordable is 15 years for all projects except for those classified as "New Construction". For "New Construction" projects, the minimum length of time that the property must remain affordable is 20 years. These long-term affordability requirements will be ensured through the use of restrictions on the deed and/ or mortgages. If a property is sold or foreclosed upon during the required affordability period, the entire amount of NSP3 funds invested in the property shall be "recaptured" by the County for use by the County for an NSP eligible use that meets a national objective. Housing Rehabilitation At a minimum, the following rehabilitation and new construction standards Standards shall be used for Indian River County's NSP3 program: ■ All gut rehabilitation or new construction of residential buildings up to three stories must be designed to meet the standard for Energy Star Qualified New Homes. ■ All gut rehabilitation or new construction of mid or high rise multifamily units must be designed to meet American Society of Heating, Refrigerating , and Air -Conditioning Engineers Standard 90.1-2004, Appendix G plus 20% (which is the Energy Star standard for multi -family buildings piloted by EPA and Dept. of Energy) . ■ Other rehabilitation must meet these standards to the extent applicable to the rehabilitation work undertaken, e.g. replace older obsolete products and appliances with Energy Star -46 labeled products. ■ Water efficient toilets, showers, and faucets, such as those with the WaterSense label, must be installed. ■ Where relevant, the housing should be improved to mitigate the impact of disasters (e.g., earthquake, hurricane, flooding, fires). For items not addressed by the above, the County's NSP1 Housing Rehabilitation Standards, Florida Residential Building Code and, when more stringent, the County Building Code shall be the Standards used in the NSP3 program in Indian River County. Rental Housing Because the area of greatest need (target area) consists overwhelmingly of Preference single family owner occupied homes and owner occupied condominium units, it would be problematic for the County to pursue the development of affordable rental housing in the target area. Developing affordable rental housing in the target area would have the result of depreciating the neighborhood. Therefore, a rental housing strategy with procedures to create preferences for the development of affordable rental housing is not proposed. Vicinity Hiring To the maximum extent feasible, the County will provide for hiring of employees that reside in the vicinity of NSP3 funded projects or contract with small businesses that are owned and operated by persons residing in the vicinity of NSP3 projects. Vicinity is defined as each neighborhood identified by the County as being the areas of greatest need . REVISED NSP3 Abbreviated Action Plan Indian River County — y__, �7-2-1Z Page 5