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CONSENT AGENDA <br />MARCH 11, 2025 <br />INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Board of County Commissioners <br />THROUGH: John A Titkanich, Jr., County Administrator <br />PREPARED BY: Cindy Emerson, Community Services Director <br />DATE: March 11, 2025 <br />SUBJECT: Consideration of the revised Indian River County Local Housing Assistance <br />Plan for the Fiscal Years 2024-2025, 2025-2026, and 2026-2027 <br />It is requested that the data herein presented be given formal consideration by the Board of <br />County Commissioners at its regular meeting on March 11, 2025. <br />DESCRIPTION AND CONDITIONS <br />Pursuantto the requirements of Section 420.907, F.S., and Rule 67-37.005, Florida Administrative <br />Code (FAC), the Board of County Commissioners approved the County's first Local Housing <br />Assistance Plan (Ordinance #93-13) on April 6, 1993. Subsequently, the Florida Housing Finance <br />Corporation approved the County's plan and authorized the disbursement of State Housing <br />Initiatives Partnership (SHIP) Program funds. <br />According to Rule 67-37.005(2), Florida Administrative Code, every three years, each local <br />government receiving SHIP funds must submit a new Local Housing Assistance Plan (LHAP) to the <br />Florida Housing Finance Corporation. Accordingly, the County's plan was submitted in 1994, <br />1997, 2000, 2003, 2006, 2009, 2012, 2015, 2018, 2021, and 2024. <br />In 2024, the Board of County Commissioners approved the County's current 3 -year plan. This <br />agenda item reviews the proposed amendments to the current LHAP for FY 2024-2025, FY 2025- <br />2026, and FY 2026-2027. <br />• SHIP Program Activity <br />Since its initial adoption in 1993, the County's LHAP has been successful in directing assistance to <br />eligible households within the county. The attached table (attachment #1) identifies the County's <br />SHIP allocations and the number of loans given to eligible applicants by fiscal year and by income <br />category. <br />Since SHIP is a state -funded program, the SHIP program fiscal year (FY) is concurrent with the <br />state fiscal year and runs from July 1 to June 30. Because SHIP funds provided in one fiscal year <br />can be spent over a three fiscal year period, the county often has two or more years of SHIP <br />93 <br />