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PARTY. INDIAN RIVER COUNTY NEIGHBORHOOD STABILIZATION PROGRAM ACQUISITION, REHABILITATION, AND SALE PROCEDURES AND STANDARDS Section 308.104. Title. Section 308.112, Purpose and intent Section 308.123- Establishment of procedures for county acquisition of foreclosed or abandoned Properties with NSP funds Section 308.134. Establishment of procedures for county rehabilitation of properties purchased with NSP funds. Section 308.145. Establishment of criteria for the sale of NSP properties that constitute an alternative property disposition procedure to sections (1)and (2) of chapter 125 35 F.& Section 308.104. Title. This Part of Chapter 308, the terms and the provisions contained herein, shall be known as the Indian River County Neighborhood Stabilization Program Acquisition, Rehabilitation, and Sale Procedures and Standards. Ord No. 2012-006, g 2 5-1-12) Section 308.112. Purpose and intent. Since 2009, Indian River County has participated in the Neighborhood Stabilization Program, ... NSP, as created by the Housing and Economic Recovery Act of 2008, afld the American Recovery and Reinvestment Act of 2009, and the Wall Street Reformed Consumer Protection Act of 2010. The purpose of this chapter is to set forth procedures and standards whereby Indian River County can acquire foreclosed or abandoned properties using Neighborhood Stabilization Program (NSP) funds, rehabilitate those properties with NSP funds, and sell those properties to qualifying low and moderate income households. As such, this chapter provides for: (1) Establishment of competition and qualification standards for county acquisition, rehabilitation and sale of foreclosed or abandoned properties in accordance with the NSP; (2) Provisions for notice to participants in the NSP; (3) Establishment of a form and manner to acquire property; (4) Establishment of negotiation or qualification standards that must be met in order for a person to buy a property under the NSP; (5) Establishment of a process to provide notice to potential qualified buyers for NSP rehabilitated housing. (Ord No. 2012-006 y 2. 5-1-12) Section 308.123. Establishment of procedures for county acquisition of foreclosed or abandoned properties with NSP funds. (1) The community development director is hereby designated as the person responsible for administering the county's Neighborhood Stabilization Program. In this capacity, the community development director shall comply with all procedures in the Community 11 91