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Funds from the Indian River County Local Housing Assistance <br />Trust Fund (IRCLHATF) shall be distributed in conformance with <br />the following distribution requirements: <br />a. A minimum of seventy-five percent (758) of the <br />annual balance of funds in the IRCLHATF shall be <br />expended on Indian River County Local Housing <br />Assistance Program Strategies which encompass <br />construction, rehabilitation or emergency repair <br />activities for eligible housing which will be <br />utilized by eligible persons. <br />b. A minimum of sixty-five percent (658) of the annual <br />balance of funds in the IRCLHATF shall be expended <br />on Program Strategies which result in homeownership <br />for eligible persons or assist and improve housing <br />units owned by eligible persons. <br />A housing unit which is to be acquired by an <br />eligible person via a lease purchase agreement in <br />which the lease does not exceed two (2) years shall <br />also be classified as a homeownership unit. <br />Should the lease -purchase lease period exceed two <br />(2) years, the housing unit shall be classified as <br />a rental housing unit. Furthermore, an initial <br />transfer of title for an assisted housing unit <br />9 <br />Gross <br />Income Level FY 1994-95 <br />Lower Half <br />Very Low <br />Low <br />of Moderate <br />Household Size <br />508 <br />808 <br />ON& 1008 <br />1 Person <br />2 Person <br />13150 <br />ON <br />21 000 <br />Mft <br />26 300 <br />NO <br />3 Person <br />15000 <br />ON <br />200 <br />ON <br />301000 <br />4 Person <br />16 850 <br />Oki <br />27 W <br />33 & <br />5 Person <br />18 750 <br />imm <br />30000 <br />am <br />37w <br />6 Person <br />20 250 <br />iNd <br />3_2400_ <br />4500 <br />ON <br />7 Person <br />2 " 75034� <br />OW <br />4 00 <br />iift <br />8 Person <br />23 250 <br />37 f <br />46 500 <br />24,750 <br />39,600 <br />49,500 <br />Median Income <br />= $37,500 <br />4. Monetary Allocations <br />Funds from the Indian River County Local Housing Assistance <br />Trust Fund (IRCLHATF) shall be distributed in conformance with <br />the following distribution requirements: <br />a. A minimum of seventy-five percent (758) of the <br />annual balance of funds in the IRCLHATF shall be <br />expended on Indian River County Local Housing <br />Assistance Program Strategies which encompass <br />construction, rehabilitation or emergency repair <br />activities for eligible housing which will be <br />utilized by eligible persons. <br />b. A minimum of sixty-five percent (658) of the annual <br />balance of funds in the IRCLHATF shall be expended <br />on Program Strategies which result in homeownership <br />for eligible persons or assist and improve housing <br />units owned by eligible persons. <br />A housing unit which is to be acquired by an <br />eligible person via a lease purchase agreement in <br />which the lease does not exceed two (2) years shall <br />also be classified as a homeownership unit. <br />Should the lease -purchase lease period exceed two <br />(2) years, the housing unit shall be classified as <br />a rental housing unit. Furthermore, an initial <br />transfer of title for an assisted housing unit <br />9 <br />