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aiff <br />INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Jason E. Brown; County Administrator <br />THROUGH: Phillip J. Matson, AICP; Community Development Director <br />FROM: Bill Schutt, AICP; Chief, Long -Range Planning <br />DATE: September 27, 2020 <br />RE: Consideration of Amendment 1 to Coronavirus Relief Fund (CRF) Agreement with <br />Florida Housing Finance Corporation (FHFC) <br />It is requested that the following information be given formal consideration by the Board of County <br />Commissioners (BCC) at its regular meeting of October 6, 2020. <br />BACKGROUND <br />On August 18, 2020, the BCC approved an agreement with the Florida Housing Finance Corporation <br />(FHFC) for the County to receive $572,301 from the Coronavirus Relief Fund (CRF); part of the <br />Coronavirus Aid, Relief, and Economic Securities Act (CARES Act). The CRF funds are limited to <br />certain housing assistance activities for COVID-19 impacted households. In Indian River County the <br />CRF is being used to provide up to $1,500 in assistance per month for up to 3 months to <br />homeowners and renters to pay past due mortgage/rent, insurance and taxes for delinquent <br />mortgages, and late fees and charges for the past due mortgages/rent (maximum assistance per <br />household is $4,500 ($1,500 x 3)). Only the amount necessary per month, up to $1,500 per month <br />may be provided to a household. <br />With the CRF program, homeowners and renters apply to the County for assistance through a web - <br />based application portal. Staff reviews the application(s) to determine if they meet various <br />qualification requirements; including but not limited to loss of income due to COVID-19, household <br />income cannot exceed 80% of Area Median Income, and households cannot have received assistance <br />from other agencies/programs/sources for the same assistance they apply to the county for. If an <br />applicant and his/her application is ultimately determined to be qualified, the county then issues a <br />payment to the mortgage provider (lender/bank) or landlord on behalf of the tenant/homeowner. <br />The program requires various forms and documentation from both the applicants and the <br />lenders/landlords to ensure compliance with program rules and to establish conditions under which <br />the award(s) is/are made. Those forms must be reviewed for accuracy and staff must coordinate with <br />161 <br />