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In cases where the qualifying homeowner(s) die(s) during the loan term, the <br />loan may be assumed by a SHIP eligible heir who will occupy the home as a <br />primary residence. If the legal heir is not SHIP eligible or chooses not to <br />occupy the home, the outstanding balance of the loan will be due and <br />payable. <br />7. If the home is foreclosed on by a superior mortgage holder, the county will <br />make an effort to recapture funds through the legal process if it is <br />determined that adequate funds may be available to justify pursuing a <br />recapture. <br />f. Recipient Selection Criteria: Applicants will be assisted on a first -qualified, first- <br />served basis with the priorities for Special Needs income groups as described in <br />section I of this plan. <br />1. Proof of homeowner's insurance if available. <br />2. Must file for and use proceeds from insurance as first option. <br />3. Must file for FEMA, SBA and other assistance available prior to applying to <br />. SHIP. <br />g. Sponsor/Developer Selection Criteria: N/A <br />h. Additional Information: Funds for disaster mitigation will only be allocated from <br />unencumbered funds or additional funds awarded through Florida Housing Finance <br />Corporation for the disaster. <br />i. For additional information please see the Indian River County Guidelines and <br />Procedures for Implementing Strategies of Local Housing Assistance Plan <br />document. <br />E. Impact Fee / Capacity Charge Loans Code 8 <br />a. Summary of the Strategy: To assist income eligible persons with the cost of impact <br />fees and/or water and sewer capacity charges for owner occupied housing units <br />anywhere in Indian River County. <br />b. Fiscal Years Covered: 2018-2019, 2019-2020, and 2020-2021 <br />C. Income Categories to be served: Very Low, low, <br />moderate (in conjunction with PA loan only) <br />d. Maximum award: $20,000 (current average actual cost range from $7,500 to <br />$11,500) <br />e. Terms: <br />1. Deferred Payment Loan (DPL); Funds will be awarded as a deferred <br />payment loan secured by a recorded subordinate mortgage and note. <br />- 13 - <br />F:\Community Development\SHIP\LHAP\2018-2021 LHAP\2018-2021 LHAP - final submittal.doc <br />22 <br />