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A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.R. SMITH, CLERK <br />is not the intent to limit an individual household's ability to devote more than 30% of its <br />income for housing, and housing for which a household devotes more than 30% of its <br />income shall be deemed Affordable if the first institutional mortgage lender is satisfied that <br />the household can afford mortgage payments in excess of the 30% benchmark and in the <br />case of rental housing does not exceed those rental limits adjusted for bedroom size. <br />N. Welfare Transition Program: Should an eligible sponsor be used, a qualification system <br />and selection criteria for applications for Awards to eligible sponsors shall be developed, <br />which includes a description that demonstrates how eligible sponsors that employ personnel <br />from the Welfare Transition Program will be given preference in the selection process. <br />O. Monitoring and First Right of Refusal: In the case of rental housing, the staff and any <br />entity that has administrative authority for implementing the local housing assistance plan <br />assisting rental developments shall annually monitor and determine tenant eligibility or, to <br />the extent another governmental entity provides the same monitoring and determination, a <br />municipality, county or local housing financing authority may rely on such monitoring and <br />determination of tenant eligibility. However, any loan in the original amount of $10,000 or <br />less shall not be subject to this annual monitoring and determination of tenant eligibility <br />requirements. Tenant eligibility will be monitored annually for no less than 15 years or the <br />term of assistance whichever is longer unless as specified above. <br />Eligible sponsors that offer rental housing for sale before 15 years or that have remaining <br />mortgages funded under this program must give a first right of refusal to eligible nonprofit <br />organizations for purchase at the current market value for continued occupancy by eligible <br />persons. <br />P. Administrative Budget: A line -item budget of proposed Administrative Expenditures is <br />attached as Exhibit A. Indian River County finds that the funds deposited in the local <br />housing assistance trust fund shall be used to administer and implement the local housing <br />assistance plan. <br />Section 420.9075 Florida Statute and Chapter 67-37, Florida Administrative Code, states: <br />"A county or an eligible municipality may not exceed the 5 percent limitation on <br />administrative costs, unless its governing body finds, by resolution, that 5 percent of the local <br />housing distribution plus 5 percent of program income is insufficient to adequately pay the <br />necessary costs of administering the local housing assistance plan. " <br />Section 420.9075 Florida Statute and Chapter 67-37, Florida Administrative Code, further <br />states: "The cost of administering the program may not exceed 10 percent of the local <br />housing distribution plus 5 percent of program income deposited into the trust fund, except <br />that small counties, as defined in s. 120.52(19), and eligible municipalities receiving a local <br />housing distribution of up to $350, 000 may use up to 10 percent of program income for <br />administrative costs." <br />The applicable local jurisdiction has adopted the above findings in the resolution attached as <br />Exhibit E. <br />Q. Program Administration: Administration of the local housing assistance plan will be <br />Entity I Duties I Admin. Fee <br />- 5 - <br />F:\Community Development\SHIP\LHAP\2021-2024 LHAP\2020 LHAP Revisions\BCC Item - LHAP\2 - <br />2021-2024 LHAP - 12-1-20 BCC Meeting.doc <br />