Laserfiche WebLink
For housing units found to be chronic or repeat <br />non-compliance units, the IRCLHAProgram shall have <br />the authority to foreclose upon the housing units <br />and take possession of the units from the owner. <br />Chronic or repeat non-compliance shall be <br />considered more than two (2) non-compliance <br />findings in one year, or more than three (3) non- <br />compliance findings in two (2) years. <br />8. Assisted Housing Unit Resale <br />The resale of housing units assisted by the IRCLHAProgram <br />will require coordination with Indian River County, and <br />satisfaction of the ® mortgage or subordinated <br />mortgage held by Indian River County. <br />The resale of renter- and owner -occupied housing units <br />assisted by the IRCLHAProgram shall be subject to a <br />recapture of rofit rovision as shown in the table <br />W <br />. <br />INDIAN RIVER COUNTY HOUSING ASSISTANCE PLAN <br />RECAPTURE OF PROFIT PROVISIONS (DUE UPON <br />THE RESALE OF THE HOUSING UNIT) <br />YEAR AFTER LOAN PERCENTAGE RECAPTURE OF <br />CLOSING OR ASSUMPTION PROFIT* <br />1st <br />508 <br />2nd <br />408 <br />3rd <br />308 <br />4th <br />208 <br />5th <br />108 <br />6th and over <br />08 <br />* The amount of profit recaptured from the sale of an <br />44 <br />