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EXHIBIT E <br />RESOLUTION #: 2017 - <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY FLORIDA APPROVING THE LOCAL HOUSING ASSISTANCE PLAN AS <br />REQUIRED BY THE STATE HOUSING INITIATIVES PARTNERSHIP PROGRAM ACT, <br />SUBSECTIONS 420.907-420.9079, FLORIDA STATUTES; AND RULE CHAPTER 67-37, <br />FLORIDA ADMINISTRATIVE CODE; AUTHORIZING AND DIRECTING THE <br />COMMUNITY DEVELOPMENT DIRECTOR TO EXECUTE ANY NECESSARY <br />DOCUMENTS AND CERTIFICATIONS NEEDED BY THE STATE; AUTHORIZING THE <br />SUBMISSION OF THE LOCAL HOUSING ASSISTANCE PLAN FOR REVIEW AND <br />APPROVAL BY THE FLORIDA HOUSING FINANCE CORPORATION; AND PROVIDING <br />AN EFFECTIVE DATE. <br />WHEREAS, the State of Florida enacted the William E. Sadowski Affordable Housing Act, <br />Chapter 92-317 of Florida Sessions Laws, allocating a portion of documentary stamp taxes on deeds <br />to local governments for the development and maintenance of affordable housing; and <br />WHEREAS, the State Housing Initiatives Partnership (SHIP) Act, ss. 420.907-420.9079, <br />Florida Statutes (1992), and Rule Chapter 67-37, Florida Administrative Code, requires local <br />governments to develop at least every three -years a Local Housing Assistance Plan outlining how <br />funds will be used; and <br />WHEREAS, the SHIP Act requires local governments to establish the maximum SHIP <br />funds allowable for each strategy within its Local Housing Assistance Plan; and <br />WHEREAS, the SHIP Act further requires local governments to establish an average area <br />purchase price for new and existing housing benefiting from awards made pursuant to the Act; and <br />WHEREAS, as required by section 420.9075, F.S. If it is found that 5 percent of the <br />local housing distribution plus 5 percent of program income is insufficient to adequately pay the <br />necessary costs of administering the local housing assistance plan, the local government may use up <br />to 10 percent of the local housing distribution plus 5% of program income deposited into the trust <br />fund to administer the program. <br />-26- <br />FACommunity Development\SHIP\LHAP\2018-2021 LHAP <br />P147 <br />