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The county's plan meets all state and local requirements and provides the basic framework and <br />operating procedures, including program strategy qualification requirements and other provisions, for <br />the SHIP program for the next 3 fiscal years. The state's approval of the new plan makes the county <br />eligible to receive SHIP funds until June 2024. <br />As previously indicated, the FHFC recently approved the County's proposed plan with some minor <br />changes. Those changes include relocating text, correcting numbering, revising language for internal <br />consistency, adding language to clarify requirements/processes (# of applications pulled for <br />processing at one time), removing a cross reference, attaching the Indian River County Guidelines <br />and Procedures for Implementing Strategies (state required document), removing a first-time <br />homebuyer definition and requirement (state deleted), and adding tenant selection criteria for projects <br />using SHIP funds in conjunction with Federal or State Programs matching loans (SHIP income <br />requirements). <br />FUNDING <br />All SHIP loans are funded from state SHIP allocations and program income. Therefore, no local <br />funds are involved. <br />RECOMMENDATION <br />The attached approved LHAP for FY 2021-2022, FY 2022-2023, and FY 2023-2024 is provided to <br />the Board for its information. No action is needed at this time. <br />ATTACHMENTS <br />1. Approved Indian River County Local Housing Assistance Plan for FY 2021-2022, FY 2022- <br />2023, and FY 2023-2024 <br />FACommunity Development\SHIP\LHAP\2021-2024 LHAP\FINAL LHAP to BCC\BCC-4-3-21 LHAPIan 2021-2024 information.doc <br />4 <br />