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Exhibit E <br />67-37.005(1), F.A.C. <br />2023 <br />RESOLUTION #:2024-007 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, <br />APPROVING THE LOCAL HOUSING ASSISTANCE PLAN AS REQUIRED BY THE STATE HOUSING <br />INITIATIVES PARTNERSHIP PROGRAM ACT, SUBSECTIONS 420.907-420.9079, FLORIDA STATUTES; AND <br />CHAPTER 67-37, FLORIDA ADMINISTRATIVE CODE; AUTHORIZING AND DIRECTING THE PLANNING AND <br />DEVELOPMENT SERVICES DIRECTOR TO EXECUTE ANY NECESSARY DOCUMENTS AND CERTIFICATIONS <br />NEEDED BY THE STATE; AUTHORIZING THE SUBMISSION OF THE LOCAL HOUSING ASSISTANCE PLAN <br />FOR REVIEW AND APPROVAL BYTHE FLORIDA HOUSING FINANCE CORPORATION; AND PROVIDING AN <br />EFFECTIVE DATE <br />WHEREAS, the State of Florida enacted the William E. Sadowski Affordable Housing Act, <br />Chapter 92-317 of Florida Sessions Laws, allocating a portion of documentary stamp taxes on deeds to <br />local governments for the development and maintenance of affordable housing; and <br />WHEREAS, the State Housing Initiatives Partnership (SHIP) Act, ss. 420.907-420.9079, Florida <br />Statutes (1992), and Rule Chapter 67-37, Florida Administrative Code, requires local governments to <br />develop a one- to three-year Local Housing Assistance Plan outlining how funds will be used; and <br />WHEREAS, the SHIP Act requires local governments to establish the maximum SHIP funds <br />allowable for each strategy; and <br />WHEREAS, the SHIP Act further requires local governments to establish an average area <br />purchase price for new and existing housing benefiting from awards made pursuant to the Act; The <br />methodology and purchase prices used are defined in the attached Local Housing Assistance Plan; and <br />WHEREAS, as required by section 420.9075, F.S., it is found that 5 % of the local housing <br />distribution plus 5 % of program income is insufficient to adequately pay the necessary costs of <br />administering the local housing assistance plan. The cost of administering the program may not <br />exceed 10 % of the local housing distribution plus 5% of program income deposited into the trust <br />