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BOOK 9 r',,u 471 - <br />Community Development Director Robert Keating advised that the <br />State Housing Initiatives Partnership Program previously gave <br />$650,000 worth of loans to over 100 applicants. The County <br />prepared a new Local Housing Assistance Plan last year which is <br />good until June of 1997, and can be amended at any time. However, <br />the County's local Affordable Housing Advisory Committee questioned <br />whether there was a potential for abuse in this program. At the <br />present time we have no indication that this has occurred. <br />However, the Committee did make recommendations for revisions to <br />the Plan; such as the eligibility requirements. Director Keating <br />also noted that the Housing Partnership Committee, comprised of <br />lenders and others involved in the housing industry, had given <br />invaluable assistance. They meet every month, work with staff and <br />have concurred with staff's recommendations. The Affordable <br />Housing Advisory Committee is also recommending the changes <br />submitted. <br />Commissioner Bird commended the lenders' committee for the <br />quality and amount of work, and Director Keating advised that the <br />lenders' committee is made up of a number of lenders from a number <br />of lending institutions such as Harbor Federal and First Union. <br />Director Keating then stated that one of the recommended <br />changes is a requirement that all homes have termite inspections <br />and that homes older than 5 years have several other types of home <br />inspections. <br />MOTION WAS MADE by Commissioner Adams, SECONDED by <br />Commissioner Eggert, that the Board adopt Resolution <br />95-33 amending the Indian River County Local Housing <br />Assistance Plan and authorize staff to submit the <br />amended plan to the Florida Housing Finance Agency <br />for review and approval, as recommended by staff. <br />Under discussion, Commissioner Bird inquired if the borrower <br />would be required to pay for building inspections and Director <br />Keating advised that the cost of the inspections would be included <br />in the loan amount. <br />Commissioner Eggert stated that a lot of the different <br />problems came up during loan reviews, especially concerning the <br />down payments. Their real concern is that they get as much value <br />as possible for the dollars. <br />THE CHAIRMAN CALLED THE QUESTION and the <br />Motion carried unanimously. <br />FEBRUARY 28, 1995 50 <br />ELI <br />