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I O FAMILIES, IT MIGHT NOT BE AVAILABLE. THIS LAND COULD LATER BE TRANS- FERRED OR SOLD TO A HOUSING AUTHORITY, IF THE COMMISSION SO DESIRED. HE POINTED OUT THAT THE COUNTY, IN ITS HOUSING AGENCY FUNCTION, CAN ENCOURAGE OPTIMUM HOUSING AT LOW COST. MR. REGAN EXPLAINED THAT UNDER THE RURAL HOUSING LAND ACQUISITION PROGRAM, THE COUNTY WOULD OWN.THE LAND AND, THEREFORE, COULD ASK THE DEVELOPER TO ADHERE TO CERTAIN DESIGN AND CONSTRUCTION CRITERIA; DELINEATE WHAT CAN BE CHARGED AGAINST IT FOR DEVELOPMENT OF THE LAND; AND COULD DECIDE AT WHAT PRICE THE LAND COULD BE SOLD, COMMISSIONER LYONS NOTED THAT YOU CAN SELL PARCELS OF THE LAND AND RECOVER EVERYTHING INCLUDING THE INTEREST. CHAIRMAN WODTKE COMMENTED THAT WE HAVE TO PAY THE MONEY BACK IN THREE YEARS. PSR. REGAN MENTIONED THAT IN THE EVENT THIS PROJECT DID NOT SUCCEED, YOU MIGHT HAVE TO DEED IT BACK TO HUD, BUT HE DOUBTED THIS WOULD HAPPEN. COMMISSIONER LYONS POINTED OUT THAT SUBSIDIES CAN BE USED FROM FMHA TO MAKE THIS HOUSING AVAILABLE TO A WIDE VARIETY OF INCOME GROUPS. SIR. REGAN FELT THAT THERE ARE MANY INCENTIVE THINGS THAN CAN BE DONE THAT WE CAN LEARN ALONG THE WAY. HE CONTINUED THAT WE NEED A LETTER FROM A FINANCIAL INSTITUTION STATING THAT WE CANNOT OBTAIN THIS $400,000 AT 3% AND ALSO A LETTER FROM FMHA CONCURRING WITH THE NEED IN INDIAN RIVER COUNTY AND RELATING THE AVAILABILITY OF FUNDS. COMMISSIONER SIEBERT INFORMED THE BOARD THAT RIGHT NOW ALL WE ARE ASKING FOR IS CONSIDERATION OF OUR APPLICATION AND RESERVATION OF FUNDS. MR. REGAN POINTED OUT THAT IF THE COMMISSION DECIDED TO BACK OFF FOR ANY REASON, WE WOULD NOT HAVE TO AVAIL OURSELVES OF THE RESERVA- TION. CHAIRMAN WODTKE DISCUSSED WHETHER A HOUSING AUTHORITY WOULD BE THE PROPER PLACE FOR SOMETHING LIKE THIS, AND COMMISSIONER LYONS POINTED OUT THAT YOU DON T NEED A HOUSING AUTHORITY TO GO.INTO THIS PROGRAM. APR 4 1979 BOOK 39 PAGE 411 I