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Section 3 <br />The Board of County Commissioners directs staff to submit two copies of the Indian River County Local <br />Housing Assistance Plan, certification page, and resolution to the Florida Housing Finance Corporation. <br />Section 4. <br />The county has determined that 5% of SHIP funds is insufficient to administer the program. The county <br />shall continue utilizing ten percent (10%) of the state SHIP allocation for administration of the SHIP <br />Program. <br />Section 5. <br />The following table indicates the average and maximum SHIP funds allowable per unit for each assistance <br />strategy. <br />STRATEGY <br />AVERAGE LOAN <br />AMOUNT ($) <br />MAXIMUM LOAN <br />AMOUNT ($) <br />Impact Fee Loan <br />13,000.00 <br />20,000.00 <br />Purchase Assistance Loan <br />15,000.00 <br />20,000.00 <br />Rehabilitation Loan <br />30,000.00 <br />50,000.00 <br />Emergency Rehabilitation Loan <br />20,000.00 <br />30,000.00 <br />Disaster Repair Loan <br />20,000.00 <br />30,000.00 <br />Low Income Housing Tax Credit (LIHTC) Matching <br />Grant <br />75,000.00* <br />100,000 00* <br />*For the LHITC matching grant the loan amount is per project not per unit <br />The county's maximum SHIP assistance to any household shall be fifty thousand dollars ($50,000 00) and <br />average SHIP assistance shall be thirty thousand dollars ($30,000.00) per household. <br />Section 6. <br />Consistent with IRS Revenue Proclamation 2011-23, the maximum purchase price for Indian River County <br />is hereby established as $258,607.00 for new or existing homes and condominiums. <br />The foregoing resolution was offered by Commissioner , and seconded by Commissioner <br />and being put to a vote, the vote was as follows: <br />108 <br />2 <br />