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APP - 6 1993 BOOK - 89 pm� 255 <br />ORDINANCE NO. 93-13 <br />the Indian River County Local Housing Assistance Program <br />may exceed five (5) percent; however, at no time shall <br />the funds expended for administration and implementation <br />of the Indian River County Local Housing Assistance <br />Program exceed ten (10) percent. <br />(4) The percentages identified in items 1, 2 and 3 above <br />shall be based upon the existing annual balance of funds <br />in the Indian River County Local Housing Trust Fund on <br />the first day of the fiscal year combined with the <br />expected annual allocation from the State SHIP Program <br />for the commencing fiscal year. The monetary amounts <br />determined by the percentage allocations shall be revised <br />on a quarterly basis during the fiscal year to reflect <br />variations in the funds received from the State as a part <br />of the County's Local Housing Distribution and additional <br />contributions to the Indian River County Local Housing <br />Trust Fund from other sources. <br />E. The housing units provided or assisted by the Indian River <br />County Local Housing Assistance Program shall comply with the <br />following distribution requirements: <br />(1) All housing units provided or assisted by the Indian <br />River County Local Housing Assistance Program must be <br />occupied by Eligible Persons; <br />(2) A minimum of thirty (30) percent of the housing units <br />provided or assisted by the Indian River County Local <br />Housing Assistance Program must be occupied by Very Low - <br />Income Persons; and <br />(3) A minimum of thirty (30) percent of the housing units <br />provided or assisted by the Indian River County Local <br />Housing Assistance Program must be occupied by Low -Income <br />Persons. <br />58 <br />