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I. To 11'R0DQCTXOK <br />Purpose and =ntent <br />This document, titled Indian River County Local Housing <br />Assistance Plan, outlines and provides the general guidelines, <br />operating procedures and assistance strategies of the Indian <br />River County Local Housing Assistance Program as established <br />by the Indian River County Board of County Commissioners via <br />Ordinance 93-13; pursuant to the requirements of the State of <br />Florida State Housing Initiatives Partnership (SHIP) Program <br />and Rule 9I-37.005, Local Housing Assistance Plans, Florida <br />Administrative Code (FAC). <br />The purpose and intent of the Indian River County Local <br />Housing Assistance Plan is to provide guidelines, operating <br />procedures and assistance strategies to be utilized by the <br />Indian River County Local Housing Assistance Program in order <br />to encourage the provision and rehabilitation of decent, <br />affordable housing for the residents of Indian River County. <br />The Indian River County Local Housing Assistance Plan was <br />approved by the Board of County Commissioners on April 6, <br />1993. In June, 1993, the Florida Housing Finance Agency <br />approved the county's revised plan and authorized the <br />disbursement of funds. <br />Background <br />The provision of affordable housing has become a significant <br />issue throughout the United States, Florida and Indian River <br />County. The need for affordable housing is especially <br />significant for very low-, low-, and moderate -income <br />households which encounter various obstacles in their attempt <br />to obtain "affordable housing". These obstacles include, but <br />are not limited to, obtaining sufficient funds for the payment <br />of impact fees and/or down payments for housing units. <br />According to information provided by the 1990 U.S. Census, <br />approximately 60% of Indian River County's households may be <br />classified as very low-, low- or moderate -income households. <br />These households require housing; however, due to the <br />obstacles noted, they may not be able to secure adequate <br />housing. <br />The need for affordable housing for very low-, low- and <br />moderate -income households within the county is addressed in <br />the county's adopted comprehensive plan, specifically Housing <br />Element Policy 4.4. That policy reads as follows: <br />"The county shall maintain its Housing Trust Fund <br />which will provide below-market interest rate <br />financing and/or grants for land acquisition, <br />downpayment/closing cost loans, impact fee payment <br />