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SHIP LHAP Template 2016-001 <br />[eff. Date 7/1/20241 <br />Florida (OUslm <br />loans not used in conjunction with CDBG funds), the loan may be assumed by a SHIP - <br />eligible heir who will occupy the home as a primary residence. If the legal heir is not <br />SHIP eligible or chooses not to occupy the home, the outstanding balance of the loan <br />will be due and payable. <br />If the home is foreclosed on by a superior mortgage holder, the county will make an <br />effort to recapture funds through the legal process if it is determined that adequate <br />funds may be available to justify pursuing a recapture. <br />Recipient/Tenant Selection Criteria: Selection Criteria: Applicants will be selected on a first -qualified, first- <br />served basis with the priorities as described in Section I of this plan. <br />g. Sponsor Selection Criteria: N/A <br />h. Additional Information: <br />1. Property taxes and homeowner's insurance must be paid current unless these amounts were being <br />escrowed as part of the mortgage payment. <br />2. The property shall have no other liens other than the first mortgage or previous SHIP, CDBG, or NSP liens. <br />3. No assistance will be provided to any property owner whose home is in the process of foreclosure or who <br />has delinquent tax liens or other liens, with the exception of a previous SHIP, CDBG, or NSP lien against it. <br />a. Summary: This strategy is designed to assist eligible homeowners with the demolition and <br />reconstruction of the home when the cost of repairs exceeds the maximum level for assistance <br />under the rehabilitation strategy and/or the condition of the home (health, safety, code issues) <br />necessitates replacement. Structures that will be demolished and rebuilt are single family <br />properties that are beyond repair and unsafe for human habitation as deemed by the County's <br />Building Official. The property must meet the definition of an unsafe structure as defined by the <br />Florida Building Code. Loans for reconstruction assistance may include costs related to all eligible <br />construction hard and soft costs associated with the project, short-term relocation costs, temporary <br />b. Fiscal Years Covered: 2024-2025 2025-2026 2026-2027 <br />C. Income Categories to be served: Very low, and low <br />d. Maximum award: $380,000.00 <br />e. Terms: <br />1. Repayment loan/deferred loan/grant: Deferred Payment Loan (DPL): Funds will be awarded as a <br />-19- <br />115 <br />