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RESOLUTION 2023- 064 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, APPROVING PAYMENT STANDARDS <br />FOR BEGINNING FISCAL YEAR 2024 FOR THE <br />HOUSING CHOICE VOUCHER PROGRAM. <br />WHEREAS, Indian River County is considered a Program Housing Agency <br />(PHA) by the United States Department of Housing and Urban Development (the <br />Department) as the County administers the Housing Choice Vouchers (HCV) program <br />County -wide for all residents (formerly known as Section 8 Housing); and <br />WHEREAS, the Department annually publishes the Fair Market Rent (FMR) in <br />the Federal Register to be used by Program Housing Agencies such as Indian River <br />County; and <br />WHEREAS, Department regulations mandate all Program Housing Agencies that <br />administer Housing Choice Vouchers adopt these Payment Standards between ninety <br />percent (90%) and one hundred ten percent (110%), one hundred and twenty percent <br />(120%) for reasonable accommodation, of the Fair Market Rent established by the <br />Department; and <br />WHEREAS, the Indian River County Board of County Commissioners has <br />adopted the Housing Choice Voucher Program current Payment Standards set between <br />ninety percent (90%) and one hundred ten percent (110%), one hundred twenty percent <br />(120%) for reasonable accommodation of the FMR; and <br />WHEREAS, the Indian River County Board of County Commissioners requires <br />an adjustment to adopt the Housing Choice Voucher Section 8 Program Payment <br />Standards, effective October 1, 2023, and these standards are set between ninety <br />percent (90%) and one hundred ten percent (110%), one hundred twenty percent <br />(120%) for reasonable accommodation of FMR, and <br />WHEREAS, HUD regulations require annual adoption and approval of Payment <br />Standard Amounts: <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />1. The Board hereby adopts and approves the adjustment of the Payment Standard <br />amounts to be within ninety percent (90%) and one hundred ten percent (110%), one <br />hundred twenty percent (120%) for reasonable accommodation, of Fair Market Rent for <br />beginning Fiscal Year 2024 as set forth below: <br />Efficiency One -Bedroom Two -Bedroom Three -Bedroom Four -Bedroom <br />$1,090 $1,314 $1,462 $1,660 $2,233 <br />