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interest earned. Attachment #1 shows historic SHIP fund information. That includes the number of loans provided to eligible applicants by fiscal year and by income category. According to SHIP Program requirements, the county must submit an annual report for the closeout fiscal year (FY20/21) showing that all allocated SHIP funds were expended for that FY. That report must also include interim year data for interim year 1 and 2 (FY 21/22 & FY 22/23). A certification form for the report must be signed by the Chairman of the Board of County Commissioners or his designee. For all previous fiscal years, closeout reports were previously submitted to and approved by the state. Attachment #2 to this staff report is the county's SHIP Program FY 2020-2021 annual closeout report with interim year data for FY 2021-2022 and FY 2022-2023. The FY 2020-2021 final closeout annual report must be submitted to the state by September 15, 2023. ANALYSIS According to state regulations, SHIP funds must be utilized in such a manner that all state requirements and all requirements of the county's Local Housing Assistance Program are met. Among the SHIP requirements are the following: • At least 30% of funds must be utilized by very low-income (VLI) households • At least 30% of funds must be utilized by low-income (LI) households • At least 65% of funds must be utilized for homeownership • At least 75% of funds must be utilized for construction, rehabilitation, or emergency repair • At least 20% of funds must be utilized for special needs applicants or household members • Not more than 10% of state allocated and 5% of program income funds may be utilized for administration costs In administering the SHIP program, the county has met all of those requirements as well as all local requirements for home ownership, credit, employment, assets, and others. The purpose of this staff report is to provide the Board of County Commissioners with background information and the attached SHIP annual report and to obtain Board authorization for the Chairman to sign the Certification Form for the attached SHIP annual report (see attachment #3). RECOMMENDATION Staff recommends that the Board of County Commissioners: 1. Approve the Draft SHIP 2023 annual report and authorize its formal submission to the Florida Housing Finance Corporation; and 2. Authorize the Chairman to sign the Certification form; and 3. Authorize staff to make any minor reporting changes to the annual report and Certification form that may be requested by the Florida Housing Finance Corporation. 2 252