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RESOLUTION 2024- 043 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, APPROVING PAYMENT STANDARDS <br />FOR BEGINNING FISCAL YEAR 2025 FOR THE <br />HOUSING CHOICE VOUCHER PROGRAM. <br />WHEREAS, Indian River County is considered a Program Housing Agency (PHA) by <br />the United States Department of Housing and Urban Development (the Department) as the <br />County administers the Housing Choice Vouchers (HCV) program County -wide for all residents <br />(formerly known as Section 8 Housing); and <br />WHEREAS, the Department annually publishes the Fair Market Rent (FMR) in the <br />Federal Register to be used by Program Housing Agencies such as Indian River County; and <br />WHEREAS, Department regulations mandate all Program Housing Agencies that <br />administer Housing Choice Vouchers adopt these Payment Standards between ninety percent <br />(90%) and one hundred ten percent (110%), one hundred twenty percent (120%) for reasonable <br />accommodation, of the Fair Market Rent established by the Department; and <br />WHEREAS, the Indian River County Board of County Commissioners has adopted the <br />Housing Choice Voucher Program current Payment Standards set between ninety percent (90%) <br />and one hundred ten percent (110%), one hundred twenty percent (120%) for reasonable <br />accommodation, of the Fair Market Rent; and <br />WHEREAS, the Indian River County Board of County Commissioners requires an <br />adjustment to adopt the Housing Choice Voucher Section 8 Program Payment Standards, <br />effective October 1, 2024, and these standards are set between ninety percent (90%) and one <br />hundred ten percent (110%), one hundred twenty percent (120%) for reasonable accommodation, <br />of the Fair Market Rent, 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 />The Board hereby adopts and approves the adjustment of the Payment Standard amounts <br />to be within ninety percent (90%) and one hundred ten percent (110%), one hundred twenty <br />percent (120%) for reasonable accommodation, of Fair Market Rent for beginning Fiscal Year <br />2025 as set forth below: <br />Efficiency One -Bedroom Two -Bedroom Three -Bedroom Four -Bedroom <br />$1,239 $1,370 $1,567 $1,948 $2,601 <br />