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INDIAN RIVER COUNTY PLANNING DIVISION <br />180127th STREET <br />VERO BEACH, FL 32960 <br />(772) 226-1250 <br />AMERICAN RESCUE PLAN (ARP) Grant Application For <br />New Multi -Family Housing Construction <br />This grant opportunity is available for one qualified Non -Profit and/or For -Profit multi -family <br />housing developer (rental units), seeking developer selection preference under the Local <br />Government Areas of Opportunity Designation of a Florida Housing Finance Corporation <br />Request for Applications (RFA 2022-021). Through the RFA process, the state accepts <br />applications from qualified developers seeking Low Income Housing Tax Credit financing <br />(LIHTC) for the construction of multi -family housing. The LIHTC provides a credit towards <br />federal tax liability for developers of multi -family units. <br />For the 2022 funding cycle, a local government is required to provide a cash contribution to <br />obtain the Local Government Areas of Opportunity Designation funding preference. Indian River <br />County has made this contribution available via grant funds. <br />Please note the following requirements: <br />• A developer who is awarded this ARP Grant is not eligible for housing grants through the <br />State Housing Initiative Partnership (SHIP) program. In addition, funds may.not be used <br />for the exact same expense that was paid by other federal housing programs for the same <br />time period. <br />• This assistance is in the form of a GRANT, and repayment is not required provided <br />applicant complies with federal and state housing program requirements. <br />• The proposed multi -family project must be located within Indian River County. <br />• To allow for local review and consideration, applications shall be due to Indian River <br />County by no later than September 1, 2022. <br />• The Florida Housing Finance Corporation limits local governments to supporting only one <br />application per funding cycle. <br />• The Indian River County State Housing Initiative Partnership (SHIP) Loan Review <br />Committee shall review and select one application to submit for funding. <br />• There are specific grant expenditure time frames that will need to be met for the County to <br />comply with Federal funding requirements. The applicant selected by the County to <br />submit an application must be able to meet local, state, and federal expenditure time frame <br />requirements. <br />ATTACHMENT 1 88 <br />