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f <br /> i <br /> i <br /> 1 <br /> RESOLUTION NO 98- 97 <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br /> RIVER COUNTY, FLORIDA SUPPORTING THE COMUNITY INITIATIVES <br /> DEVELOPMENT CORPORATION'S PROPOSAL TO BUILD A 100 UNIT <br /> MODERATM INCOME HOUSINo PROJECT WITHIN INDIAN RIVER COUNTY. <br /> WHEREAS, the county population has increased from 90,208 in <br /> 1990 to 106,675 in 1998, and it is projected to increase to 154,200 <br /> in 2020; and <br /> WHEREAS, this population growth creates a need for additional <br /> housing in general and additional moderate income housing in <br /> particular; and <br /> WHEREAS, the Community Initiatives Development Corporation <br /> (CIDC) , a non-profit Corporation, is planning to construct an <br /> li affordable housing project consistingof <br /> approximately 100 three <br /> bedroom, two bath housing units within Indian River County; and <br /> WHEREAS, the CIDC indicated that the proposed units will be <br /> available on a "lease to own" basis to individuals who meet standard <br /> mortgage underwriting standards with the exception of not having <br /> sufficient funds for a downpayment; and <br /> WHEREAS, the CIDC indicated that the project will be financed <br /> and owned during the lease period by the Community Initiatives <br /> Development Corporation, of Hudson, New York; and <br /> WHEREAS, financing will be provided through the sale of <br /> taxable bonds, unconnected to the County; and <br /> 1 <br />