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I. INTRODUCTION <br /> Purpose and intent <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 /> Backaround <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 establish a Housing Trust Fund <br /> which will provide below-market interest rate <br /> 1 <br />