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Section 3. <br />The Board of County Commissioners directs staff to submit two copies of the Indian River County Local <br />Housing Assistance Plan, the plan's certification page, and the approval resolution to the Florida Housing <br />Finance Corporation. <br />Section 4. <br />The county has determined that 5% of SHIP funds is insufficient to administer the program. The county shall <br />continue utilizing ten percent (10%) of the state SHIP allocation for administration of the SHIP Program. <br />Section 5. <br />The following table indicates the average and maximum SHIP funds allowable per unit for each assistance <br />strategy. <br />STRATEGY <br />AVERAGE LOAN <br />AMOUNT $ <br />MAXIMUM LOAN <br />AMOUNT $ <br />Im act Fee 10 Year Loan <br />13,000.00 <br />20,000.00 <br />Im act Fee Loan <br />13,000.00 <br />20,000.00 <br />Down a ment/Closin Cost Loan <br />15,000.00 <br />20,000.00 <br />Rehabilitation Loan <br />30,000.00 <br />50,000.00 <br />Rehabilitation 10 Year Loan <br />30,000.00 <br />50,000.00 <br />Land Ac uisition Loan <br />20,000.00 <br />20,000.00 <br />Emer enc /Disaster Re air 10 Year Loan <br />20,000.00 <br />30,000.00 <br />Low Income Housing Tax Credit (LIHTC) Matching <br />Grant <br />75,000.00* <br />100,000.00* <br />*For the LHITC matching grant the loan amount is per project not per unit <br />The county's maximum SHIP assistance to any household shall be fifty thousand dollars ($50,000.00), and <br />average SHIP assistance shall be thirty thousand dollars ($30,000.00) per household. <br />Section 6. <br />Consistent with IRS Revenue Proclamation 20l 1-23, the maximum purchase price for Indian River County is <br />hereby established as $258,607.00 for new or existing homes and condominiums. <br />The foregoing resolution was offered by Commissioner Sol ari ,and seconded by Commissioner <br />Fl escher ,and being put to a vote, the vote was as follows: <br />