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PURPOSE AND INTENT This document outlines and provides the guidelines and operating procedures for implementing assistance strategies of the Indian River County Local Housing Assistance Plan as established by the Indian River County Board of County Commissioners via Ordinance 93-13; pursuant to the requirements of the State of Florida State Housing Initiatives Partnership (SHIP) Program statute 420.907-420.9079 and Rule Chapter 67-37, Florida Administrative Code (FAC). The purpose and intent of this document is to provide consistent and clear guidelines and operating procedures for implementing assistance strategies identified in the Indian River County Local Housing Assistance Plan. SECTION I: PROGRAM DETAILS Program details are provided in the Local Housing Assistance Plan. However, a more detailed implementing guideline and operating procedure is provided in this document. • General Loan Application Process At the application acceptance period, each applicant receives an application (queue) number after submission of a preliminary intake form, which is given to him by the County's SHIP Program staff in consecutive order. At the end of the application acceptance period, staff will conduct reviews based on the priorities identified in the Local Housing Assistance Plan and this document. When an applicant's queue number is reached as may be adjusted to achieve any established funding priorities established in the LHAP; staff will send the applicant a letter, or email or call the applicant letting him or her know what is needed to complete the application. A complete application and all required documents must be submitted to the SHIP office within 4 weeks. For complete applications, staff will verify the household's income and assets and then send a conditional award (eligibility) letter to the applicant, indicating the household's information and informing the applicant that a specific amount of the funds is reserved for him for 90 days. The conditional award letter identifies what is needed for an application to be ready for Loan Review Committee review. The Loan Review Committee consists of three members: the Indian River County Community Development Director or his designee, a financial institution representative or his or her alternates, a member of the Indian River County Board of County Commissioners or his or her designee, who shall serve as chairman of the Loan Review Committee. The completed applications will then be submitted to the County's SHIP Program Loan Review Committee (LRC). After Loan Review Committee approval, staff will send a Loan Review Committee approval letter to the applicant and notify him or her that the loan must be closed within 90 days. The Loan Review Committee approval letter specifies steps and documents needed prior to scheduling a loan closing. Mortgage document and promissory notes are then prepared, and a closing is scheduled. At the closing, the applicant signs all appropriate documents that will be recorded and then funds are expended according to each strategy. 40