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{ T - <br />RESOLUTION NO. 93- 74 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, SETTING A MAXIMUM AND <br />AVERAGE STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) <br />INVESTMENT PER HOUSING UNIT. <br />WHEREAS, Chapter 420.9075(3)(1), Florida Statutes, requires <br />the County to set an average cost and maximum cost of SHIP funds <br />per housing unit that may be invested through the Indian River <br />County Local Housing Assistance Program; and <br />WHEREAS, the County has studied and is familiar with the uses <br />of SHIP funds and other funds it has available for housing; and <br />WHEREAS, it has been deemed necessary to invest a maximum of <br />Fifteen Thousand Dollars ($15,000.00) of SHIP funds per housing <br />unit; and <br />WHEREAS, it has also been deemed necessary that the average <br />cost per housing unit will be Five Thousand Dollars ($5,000.00) of <br />SHIP funds per housing unit for Impact Fee Grants, an average <br />amount of Seven Thousand Two Hundred Fifty Dollars ($7,250.00) of <br />SHIP funds per housing unit for Impact Fee Loans, an average of <br />Five Thousand Dollars ($5,000.00) of SHIP funds per housing unit <br />for Downpayment/Closing Cost Loans, an average of Ten Thousand <br />Dollars ($10,000.00) of SHIP funds per housing unit for Land <br />Acquisition Loans, and an average of Seven Thousand Five Hundred <br />Dollars ($7,500.00) of SHIP funds per housing unit for <br />Rehabilitation Loans. <br />NOW, THEREFORE BE IT RESOLVED by the Board of County <br />Commissioners of Indian River County, Florida, that a maximum of <br />Fifteen Thousand Dollars ($15,000.00) of SHIP funds will be <br />invested in any one unit, that the estimated average cost per unit <br />will be Five Thousand Dollars ($5,000.00) for Impact Fee Grants, an <br />average amount of Seven Thousand Two Hundred Fifty Dollars <br />($7,250.00) for Impact Fee Loans, and average amount of Five <br />Thousand Dollars ($5,000.00) for Downpayment/Closing Cost Loans, an <br />average amount of Ten Thousand Dollars ($10,000.00) for Land <br />Acquisition Loans, and an average amount of Seven Thousand Five <br />Hundred Dollars ($7,500.00) for Rehabilitation Loans per housing unit. <br />1 <br />AYTAC NN 3 <br />