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Up to $400,000 in American Rescue Plan Act funds has been set aside as a potential funding match <br />for qualified applicants to the LIHTC program. The Indian River County Loan Review Committee <br />was selected as the award review committee for the LIHTC program. <br />Applications Received <br />By the September 1, 2022 application deadline, one application was received seeking matching <br />fund assistance from the LIHTC program. <br />The Housing Trust Group, LLC has submitted an LIHTC application seeking $340,000 as a <br />matching cash contribution in order to develop an affordable multi -family development at 4355 <br />38' Ave in Gifford (Attachment 1). The project proposes 79 multifamily units: 71 of which will <br />be affordable to Low-income households (up to 80% AMI) and 8 that would be affordable to <br />Extremely low-income households (up to 30% AMI). The Housing Trust Group. <br />RECOMMENDATION <br />Staff and the Loan Review Committee recommend that the Board of County Commissioners <br />offer $340,000 from the Indian River County Low Income Housing Tax Credit (LIHTC) <br />program as a matching contribution to the HTG Vero Shores project proposed by the Housing <br />Trust Group, LLC with the condition that it is formally selected as a 9% LIHTC awardee (2022- <br />201 RFA). <br />ATTACHMENTS <br />1. Housing Trust Group LIHTC application. <br />