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V. Special Needs: The county will inform social service agencies serving the designated special <br />needs populations of available SHIP assistance to achieve the 20% goal of the special needs <br />set-aside. The goals will be met through all loan assistance strategies. <br />W. Describe Efforts to Reduce Homelessness: The Treasure Cost Homeless Services Council <br />(TCHSC) provides continuum of care to the homeless population within Indian River County. <br />County staff works with the TCHSC staff to apply for grants, exchanges information, and <br />provides assistance as needed. <br />TCHSC administers the Homeless Management Information System (HMIS). TCHSC <br />provides shelters, rental and utility assistance, supportive services for veteran families and <br />manages affordable rental properties. <br />X. Total assets (cash or non-cash items that can be converted to cash) not including IRA, <br />Keogh, similar retirement savings accounts, and dedicated college saving accounts of an <br />eligible household applying for SHIP assistance shall not exceed twenty thousand dollars <br />($20,000.00). <br />Y. The maximum active SHIP loans on any property shall not exceed $60,000, except when <br />utilization of disaster and/or emergency funds are necessary. <br />Section II. LHAP Strategies: <br />A. Owner Occupied Rehabilitation Loans <br />Code 3 <br />a. Summary of Strategy: SHIP funds will be awarded to owner occupied households in <br />need of repairs to correct health and safety issues and code violations related to <br />electrical, plumbing, roofing, windows, and other structural items as well as <br />hurricane hardening activities. A detailed list of rehabilitation work activities <br />allowed or not allowed is included in the Indian River County Guidelines and <br />Procedures for Implementing Strategies of Local Housing Assistance Plan <br />document. <br />b. Fiscal Years Covered: 2021-2022, 2022-2023, and 2023-2024 <br />C. Income Categories to be served: Very -low, and low <br />d. Maximum award: <br />Very Low and Low Income $60,000 <br />e. Terms <br />1. Deferred Payment Loan (DPL): Funds will be awarded as a deferred <br />payment loan secured by a recorded subordinate mortgage and note. <br />2. Interest Rate: 3%'Simple Annual Interest. <br />3. Years in Loan term: 10 years (5 years if used in conjunction with CDBG <br />funding). <br />11 <br />