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SHIP LHAP Template 2016-001 Jeff. Date 7/1/20241 ©ko satisfied that the household can afford mortgage payments in excess of the 30% benchmark and in the case of rental housing does not exceed those rental limits adjusted for bedroom size. N. Welfare Transition Program: Should an eligible sponsor be used, a qualification system and selection criteria for applications for Awards to eligible sponsors shall be developed, which includes a description that demonstrates how eligible sponsors that employ personnel from the Welfare Transition Program will be given preference in the selection process. O. Monitoring and First Right of Refusal: In the case of rental housing, the staff and any entity that ha� administrative authority for implementing the local housing assistance plan assisting rental developments) shall annually monitor and determine tenant eligibility or, to the extent another governmental entity provides, periodic monitoring and determination, a municipality, county or local housing financing authority may rely. on such monitoring and determination of tenant eligibility. However, any loan or grant in the original amount) of $10,000 or less shall not be subject to these annual monitoring and determination of tenant eligibility requirements. Tenant eligibility will be monitored annually for no less than 15 years or the term of assistance whichever is longer unless as specified above. Eligible sponsors that offer rental housing for sale before 151, years or that have remaining mortgages funded under this program must give a first right of refusal to eligible nonprofit organizations for purchase at the current market value for continued occupancy by eligible persons. P. Administrative Budget: A line -item budget is attached as Exhibit A. The city/county finds that the money, deposited in the local housing assistance trust fund is necessary to administer and implement the local I housing assistance plan. Section 420.9075 Florida Statute and Chapter 67-37, Florida Administrative Code, states: "A county or an eligible municipality may not exceed the 5 percent limitation on administrative costs, unless its governing body finds, by resolution, that 5 percent of the local housing distribution plus 5 percent of program income is insufficient to adequately pay the necessary costs of administering the local housing assistance plan." Section 420.9075 Florida Statute and Chapter 67-37, Florida Administrative Code, further states: "The cost of administering the program may not exceed 10 percent of the local housing distribution plus 5 percent of program income deposited into the trust fund, except that small counties, as defined in s. 120.52(19), and eligible municipalities receiving a local housing distribution of up to $350,000 may use up to 10 percent of program income for administrative costs." The applicable local jurisdiction has adopted the above findings in the resolution attached as Exhibit E. Q. Program Administration: Administration of the local housing assistance plan will be performed by: Entity Duties Admin. Fee Percentage Indian River County Administer the program 10% R. First-time Homebuyer Definition: For any strategies designed for first-time homebuyers, the following definition will apply: An individual who has had no ownership in a principal residence during the 3 -year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test they are considered first-time homebuyers). A single parent who has only owned a home with a former spouse while married. An individual who is a displaced homemaker and has only owned with a spouse. An individual who -5- 77