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Resolution 94-48 <br />Section 4. <br />The only change to the maximum and average cost per unit is <br />for Downpayment/Closing Cost/Principal reduction assistance <br />loans. The maximum amount of the Downpayment/Closing <br />Cost/Principal reduction assistance loan will be $10,000, and <br />the average amount will be $9,000.00 <br />Section 5. <br />The County shall continue utilizing ten percent (108) of <br />available SHIP funds for administration of the SHIP program. <br />Section 6. <br />The County's recapture provision will be based on the Table <br />provided on the revised Local Housing Assistance Plan. <br />The foregoing resolution was offered by Commissioner Adams , <br />and seconded by Commissioner Eggert , and being put to a vote, <br />the vote was as follows: <br />Chairman, John W. Tippin &Le <br />Vice Chairman, Kenneth R. Macht &y_e <br />Commissioner, Richard N. Bird &y_e <br />Commissioner, Carolyn K. Eggert ALe <br />Commissioner, Fran B. Adams ae <br />The Chairman thereupon declared the resolution duly passed and <br />adopted this 5 day of April , 1994. <br />Board of County Commissioners <br />of Indian River County <br />1 .--- <br />. By <br />�/ ohn W. Tippin, Chairman <br />Attest by; <br />Jeffrey K. Barton:,' <br />Clerk <br />APPROVED AS TO FORM f►ND LEGAL SUFFICIENCY <br />BY: �[..r ��l't-`c.e_ --J <br />William G. Collins, II " '' j no.,•, - <br />no, <br />Deputy County Attorney-- <br />u\v\h\hou.ord <br />EXHIBIT "C" <br />