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Editor's note— Section 1(App. A) of Ord. No. 2014-008, adopted April 15, 2014, repealed the <br />former § 308.08 which pertained to the adoption of the Indian River County Affordable Housing <br />Incentive Plan, and derived from Ord. No. 93-13, adopted April 6, 1993. Said ordinance <br />renumbered former § 308.09 as § 308.08. <br />Section 308.09. - Effective date. <br />This chapter shall become effective thirty (30) days after the date of formal adoption. <br />(Ord. No. 93-13, 4-6-93; Ord. No. 2014-008, § 1(App. A), 4-15-14) <br />Editor's note— Former § 308.10. <br />PART II. - INDIAN RIVER COUNTY NEIGHBORHOOD STABILIZATION PROGRAM ACQUISITION, <br />REHABILITATION, AND SALE PROCEDURES AND STANDARDS <br />Section 308.10. - Title. <br />This Part of Chapter 308, the terms and the provisions contained herein, shall be known as the <br />Indian River County Neighborhood Stabilization Program Acquisition, Rehabilitation, and Sale Procedures <br />and Standards. <br />(Ord. No. 2012-006, § 2, 5-1-12; Ord. No. 2014-008, § 1(App. A), 4-15-14) <br />Editor's note— Former § 308.11. <br />Section 308.11. - Purpose and intent. <br />Since 2009, Indian River County has participated in the Neighborhood Stabilization Program, NSP, <br />as created by the Housing and Economic Recovery Act of 2008, the American Recovery and <br />Reinvestment Act of 2009, and the Wall Street Reformed Consumer Protection Act of 2010. The purpose <br />of this chapter is to set forth procedures and standards whereby Indian River County can acquire <br />foreclosed or abandoned properties using Neighborhood Stabilization Program (NSP) funds, rehabilitate <br />those properties with NSP funds, and sell those properties to qualifying low and moderate income <br />households. As such, this chapter provides for: <br />(1) Establishment of competition and qualification standards for county acquisition, rehabilitation <br />and sale of foreclosed or abandoned properties in accordance with the NSP; <br />(2) Provisions for notice to participants in the NSP; <br />(3) Establishment of a form and manner to acquire property; <br />(4) Establishment of negotiation or qualification standards that must be met in order for a person to <br />buy a property under the NSP; <br />(5) Establishment of a process to provide notice to potential qualified buyers for NSP rehabilitated <br />housing. <br />(Ord. No. 2012-006, § 2, 5-1-12; Ord. No. 2014-008, § 1(App. A), 4-15-14) <br />Editor's note— Former § 308.12. <br />Page 6 <br />