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w...................:....................................... ......: `:::..:. . ..................... ...., ....... .......... :... ..'::::..:::::::':.::...:_............._::::»::::,..:::::: :............... .. ... ::: a :.:::: _.-and'..'si'sds:i33:33;3333::e 3ii3f3333333';3 .:: :.: , .:: ,SHIP:. F:unds.:::::::::::::.::::::::::»:::::::»:.:::::»:»::»:::::.::::::::::::»:::::: .:.,..,:..:. ..... usinatiues...Partners......... _:... �...........................:.::»•:::::»::-:::»::::::::::::..........:�..........................:.�:::::.::::.�:::::::.:».::;::.::.:...................�.... Min ................................................. »::»»:»::»:»:,:::::_::.:......,.....................,,...,...............,. .............�..... , a.................."................................�_............,....,...................,...,...................... Background: The Florida Housing Finance Corporation (FHFC) is a public corporation that' housed within the Department of Economic Opportunity. The goal of the FHFC is to increase the supply of safe;:affordable housing for individuals and families with very low to moderate incomes. To do .this,, the FHFC uses federal and state resources to finance the development of affordable homes and assist first-time homebuyers through various programs.". Some of :the key programs that are administered by the FHFC include' the State "Housing Initiatives Partnership (SHIP) Program; which . receives approxi nately two-thirds of ;the funding; the State Apartment Incentive Loan :(SAIL) Program, which receives about 20 percent of the funding, and: ,other programs, including the Predevelopment Loan Program (PLP), the Homeownership Assistance Program (HAP), the. Affordable Housing Guarantee Program; and the Catalyst Training and 'Technical Assistance, Program.: : The FHFC receives funding for its affordable housing programs from documentary stamp tax revenues pursuant to the V411iam E. Sadowski Act ("Act"). The Act calls for funds to be generated from: (a) additional revenues from a 10-cent increase in the documentary stamp tax rate,.imposed on real estate transfers; and (b) a re-allocation often cents of the existing documentary stamp tax revenues from general revenue to the affordable housing trust funds beginning in FY 1995-96. The funds are then distributed to the State Housing Trust Fund and the Local Government Housing.Trust Fund. In-Tears past, the Florida Legislature has transferred the.unused funds in the. State Housing Trust:Fund and the Local Government Housing Trust Fund to the General Revenue Fund pursuant: to Section 215.32(2)(b) 4.a.; Florida Statutes. This .has significantly impacted local governments and their ability:to assist their constituents by-:. providing the ,above-referenced programs as they were. designed. Position: Indian River County: BCC SUPPORTS allocating" the full amount of dedicated: documentary tax revenues for state and local affordable housing programs; SUPPORTS investing inaffordable housing to create jobs in home repair, hardening homes, retrofitting and. constructing affordable rental. units, and dowering ahe energy costs to make housing more affordable; and SUPPORTS exempting the State Housing Trust Fund and the Local Government Housing Trust: Fund' from a provision authorizing the:; Legislature, in the General Appropriations Act, to transfer unappropriated cash balances from specified trust: funds to the Budget Stabilization Fund and General Revenue Fund, etc. . 11. l t:�