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0 <br />- Housing Element Policy 3.5 <br />POLICY 3.5: The county shall offer rehabilitation loan assistance <br />through its local housing assistance program, cooperative ventures <br />with non-profit groups, or Community Development Block Grant (CDBG) <br />type programs to effect spot removal of blighted structures and <br />blighting influences. <br />- Housing Element Policy 4.4 <br />POLICY 4.4: The county shall maintain its Housing Trust Fund which <br />provides below-market interest rate financing and/or grants for <br />land acquisition, downpayment/closing cost loans, impact fee <br />payment loans, and rehabilitation loans for affordable housing <br />units in the county. The fund will also assist non-profit <br />facilitators with pre -development expenses associated with very <br />low, low, and moderate income housing development. Some <br />disbursements from the Housing Trust Fund will be grant, but the <br />majority of funds will be revolving loans, with borrowers paying <br />back principal and applicable interest into the trust, therefore <br />ensuring a permanent source of financing. <br />Housing Element Policy 4.5 <br />POLICY 4.5: The county shall enter into interlocal agreements with <br />any county municipality which because of unusually high property <br />values or coastal high hazard area constraints cannot meet is <br />affordable housing needs within its jurisdiction, and desires to <br />contribute to the Housing Trust Fund. The amount and method of <br />payment will be established prior to execution. <br />- Housing Element Policy 4.6 <br />POLICY 4.6: The county shall maintain its affordable housing <br />partnership with financial institutions for leveraging State <br />Housing Initiatives Partnership Program (SHIP) funds. <br />- Housina Element Policy 4.7 <br />POLICY 4.7: The county shall encourage increased home ownership by <br />providing downpayment/closing cost loan assistance to eligible very <br />low income, low income, and moderate income households through the <br />county's local housing assistance program. <br />65 <br />