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A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.R. SMITH, CLERK <br />Exhibit E <br />67-37.005(1), F.A.C. <br />[eff. date] <br />RESOLUTION #: 2020 - <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA <br />APPROVING THE LOCAL HOUSING ASSISTANCE PLAN AS REQUIRED BY THE STATE HOUSING <br />INITIATIVES PARTNERSHIP PROGRAM ACT, SUBSECTIONS 420.907-420.9079, FLORIDA STATUTES;AND <br />RULE CHAPTER 67-37, FLORIDA ADMINISTRATIVE CODE; AUTHORIZING AND DIRECTING THE MAYOR <br />TO EXECUTE ANY NECESSARY DOCUMENTS AND CERTIFICATIONS NEEDED BY THE STATE; <br />AUTHORIZING THE SUBMISSION OF THE LOCAL HOUSING ASSISTANCE PLAN FOR REVIEW AND <br />APPROVAL BY THE FLORIDA HOUSING FINANCE CORPORATION; AND PROVIDING AN EFFECTIVE <br />DATE. <br />WHEREAS, the State of Florida enacted the William E. Sadowski Affordable Housing Act, Chapter 92-317 of <br />Florida Sessions Laws, allocating a portion of documentary stamp taxes on deeds to local governments for the <br />development and maintenance of affordable housing; and <br />WHEREAS, the State Housing Initiatives Partnership (SHIP) Act, ss. 420.907-420.9079, Florida Statutes <br />(1992), and Rule Chapter 67-37, Florida Administrative Code, requires local governments to develop a one- to three- <br />year Local Housing Assistance Plan outlining how funds will be used; and <br />WHEREAS, the SHIP Act requires local governments to establish the maximum SHIP funds allowable for <br />each strategy; and <br />WHEREAS, the SHIP Act further requires local governments to establish an average area purchase price for <br />new and existing housing benefiting from awards made pursuant to the Act; The methodology and purchase prices used <br />are defined in the attached Local Housing Assistance Plan; and <br />WHEREAS, as required by section 420.9075, F.S. It is found that 5 percent of the local housing <br />distribution plus 5 percent of program income is insufficient to adequately pay the necessary costs of administering <br />the local housing assistance plan. The cost of administering the program may not exceed 10 percent of the local <br />housing distribution plus 5% of program income deposited into the trust fund, except that small counties, as defined <br />in s. 120.52(17), and eligible municipalities receiving a local housing distribution of up to $350,000 may use up to <br />10 percent of program income for administrative costs. <br />WHEREAS, the Indian River County Community Development Department has prepared a three-year Local <br />Housing Assistance Plan for submission to the Florida Housing Finance Corporation; and <br />