3/8/1994 - Laserfiche WebLink

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DESCRIPTION AND CONDITIONS At the recent workshop on affordable housing issues, the Board of County Commissioners discussed the draft Indian River County Housing Incentive Plan. Since copies of the draft Housing Incentive Plan were distributed prior to that workshop meeting, plan copies have not been sent with this -agenda item. It is now necessary for the Board to take action on the plan. According to state requirements, each county or eligible municipality participating in the State Housing Initiatives Partnership Program (SHIP) must adopt an affordable housing incentive plan within 12 months after the establishment of its local housing assistance program. In the past ten months, the Indian River County Affordable Housing Advisory Committee has reviewed local established policies, procedures, ordinances, land development regulations, and the county's adopted comprehensive plan and has made specific recommendations to encourage or facilitate the provision of affordable housing. During that ten month period, the Affordable Housing Advisory Committee (AHAC) reviewed staff reports on topic areas required to be addressed in the Housing Incentive Plan. Those staff reports then served as a basis for the committee to make findings and recommendations. On February 10, 1994, the Affordable Housing Advisory Committee considered the draft of the Indian River County Affordable Housing Incentive Plan, made minor changes, and recommended that the Board of County Commissioners approve the plan. ANALYSIS As drafted, the Affordable Housing Incentive Plan indentifies the potential cost savings associated with recommended incentives, where appropriate, and provides an estimated adoption timeframe for each incentive. With respect to the Affordable Housing Incentive Plan, the Board of County Commissioners has three alternatives. These are: c To adopt the plan as recommended by the Affordable Housing Advisory Committee c To adopt the plan with changes O To reject the plan. Either of the first two alternatives is acceptable. Choosing the third alternative, however, would cause the county to lose its SHIP funds. Staff supports the first alternative. RECOM[ENDATION The Affordable Housing Advisory Committee and staff recommend that the Board of County Commissioners adopt the attached ordinance approving county's Affordable Housing Incentive Plan and direct staff to forward the plan to the Florida Housing Finance Agency for their review. 19 BOOK PAU;E 1.