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M M In conjunction with the three items listed, the county must also adopt three separate resolutions. The first resolution must establish a maximum expenditure of SHIP funds per housing unit and expected average cost per housing unit for each of the assistance strategies to be utilized by the county Local Housing Assistance Program. The second resolution must increase the amount of SHIP funds which may be utilized for administration of the Local Housing Assistance Program to ten percent (10%) from the five percent (5%) initially permitted by the SHIP Program. The third and final resolution must formally appoint the members of the Affordable Housing Advisory Committee created by the implementing ordinance. ANALYSIS: Establishing an Indian River County Local Housing Assistance Program will provide an established, ongoing mechanism to provide "affordable housing" for very low-, low-, and moderate -income households. Under the direction of the current Indian River County Affordable Housing Advisory Committee (AHAC), staff completed the necessary Implementing Ordinance and Local Housing Assistance Plan. The Ordinance and Plan were approved by the AHAC and forwarded to the Florida Housing Finance Agency for courtesy review. Upon receipt of the Florida Housing Finance Agency's comments, staff revised the plan. A copy of the revised plan, with strikethroughs and underlines to indicate changes made since the AHAC review, is attached. The implementing ordinance (Attachment #1) creates the local trust fund to receive and hold the SHIP monies distributed by the State, and establishes the program through which the county will disperse the monies received from the State to persons in the local community. The Assistance Plan (Attachment #2) provides the guidelines and procedures for operation of the Program and distribution of the funds received from the State. The Plan also identifies the assistance strategies which will be utilized in distributing the funds. Along with establishing the Program and approving the Plan, the Hoard must adopt a resolution establishing a maximum investment of SHIP distributed funds per housing unit and expected average cost per housing unit for each of the assistance strategies (Attachment #3). As provided for by the state Affordable Act, a portion of the SHIP funds may be utilized for administrative and implementation costs. While the initial limit imposed by the SHIP Program is five percent (5%) of the SHIP fund distribution, a local government may, by separate :resolution, increase the limit for administrative and implementation costs to a maximum of ten percent (10%). As the Plan utilizes such an increase in the limit for administrative costs, a resolution to increase the limit for administrative costs to ten percent (10%) is proposed (Attachment #4). This increase may be reduced at a later date; however, the increase is appropriate at this time in order to accomodate the necessary activities in starting the Program. 51 APR ® 199 KKK, 85 FAU,248