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7. If the home is foreclosed on by a superior mortgage holder, the county will <br />make an effort to recapture funds through the legal process if it is <br />determined that adequate funds may be available to justify pursuing a <br />recapture. <br />f. Recipient Selection Criteria: Applicants will be assisted on a first -qualified, first- <br />served basis with the priorities for Special Needs income groups as described in <br />section I of this plan. <br />1. Proof of homeowner's insurance if available. <br />2. Must file for and use proceeds from insurance as first option. <br />3. Must file for FEMA, SBA and other assistance available prior to applying to <br />SHIP. <br />g. Sponsor/Developer Selection Criteria: N/A <br />h. Additional Information: Funds for disaster mitigation will only be allocated from <br />unencumbered funds or additional funds awarded through Florida Housing Finance <br />Corporation for the disaster. <br />For additional information please see the Indian River County Guidelines and <br />Procedures for Implementing Strategies of Local Housing Assistance Plan <br />document. <br />F. Impact Fee / Capacity Charge Loans Code 8 <br />a. Summary of the Strategy:.To assist income eligible persons with the cost of impact <br />fees and/or water and sewer capacity charges for owner occupied housing units <br />anywhere in Indian River County. <br />b. Fiscal Years Covered: 2021-2022, 2022-2023, and 2023-2024 <br />C. Income Categories to be served: Very Low, low, moderate (in conjunction with PA <br />loan only) <br />d. Maximum award: $20,000 <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 <br />note. <br />2. Interest Rate: 3% Simple Annual Interest. <br />3. Years in loan term: 10 years (5 years in conjunction with CDBG <br />funding). <br />19 <br />