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Comprehensive Plan Housing Element OBJECTIVE 4 HOUSING ASSISTANCE/HOUSING IMPLEMENTATION PROGRAM Annually, at least 40 income eligible households will receive assistance through county's local housing assistance program. POLICY 4.1: The Board of County Commissioners shall request the Housing Authority to provide an annual report of its activities to the Board of County Commissioners by July 1 of each year. The report shall also identify the agency's objectives regarding the number and types of recipients the Authority is able to serve annually. POLICY 4.2: The Board of County Commissioners shall evaluate the annual activity report prepared by the Housing Authority and take appropriate actions through funding, policy revisions, and program initiatives to assist the authority to support, augment, and facilitate assistance to households who are unable to provide housing within acceptable cost limits of 30% of gross household income, or who require rehabilitation, financial, and/or technical assistance to assure safe, healthful, and affordable housing. POLICY 4.3: The county shall maintain its current policy of financing water and sewer capacity charges for newly constructed housing units. POLICY 4.4: The county shall maintain its Housing Trust Fund which provides below-market interest rate financing, for downpayment/closing cost loans, impact fee/capacity charge loans, rehabilitation loans, land acquisition loans, emergency/disaster loans, and Low Income Housing Tax Credit (LIHTC) program matching grants for affordable housing units in the county. Disbursements from the Housing Trust Fund will be revolving loans, with borrowers paying back principal and applicable interest into the trust, therefore ensuring a permanent source of financing. POLICY 4.5: The county shall enter into interlocal agreements with any county municipality which, because of unusually high property values or coastal high hazard area constraints, cannot meet its affordable housing needs within its jurisdiction, and desires to contribute to the Housing Trust Fund. The amount and method of payment will be established prior to execution. POLICY 4.6: The county shall maintain its affordable housing partnership with financial institutions for leveraging State Housing Initiatives Partnership Program (SHIP) funds. POLICY 4.7: The county shall encourage increased home ownership by providing downpayment/closing cost loan assistance to eligible very low income, low income, and moderate income households through the county's local housing assistance program. POLICY 4.8: The county shall utilize all appropriate federal, and state subsidy programs for provision of affordable housing within the county by supporting private developers who are applying 52 Community Development Department Indian River County