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BOOR Director Keating advised the Board that the Sadowski Act program is more familiarly known by them as the SHIP program. We have been working with Ms. Leigh's agency extensively the last four years on this program. They manage it for us and give technical assistance. The SHIP program takes people out of rental and into home ownership. He explained that we are required to use 65% of the funding ($1/2 million annually) for home -ownership; 75% of that for new construction or rehabilitation; also the County is required to allocate 30% to very low incomes and 30% to low incomes. He felt it was a very good program and the County has a good relationship with the lenders, many of which were represented today. V. OVERVIEW OF LOCAL GOVERNMENT HOUSING ASSISTANCE INITIATIVES IN FLORIDA, STATEWIDE AFFORDABLE HOUSING ISSUES. OPPORTUNYIM, BARRIERS, POLICY INCENTIVES, AND IMPACT OF SUBSIDIZED HOUSING ON A CONDIUNITY Arthur Fleming, Florida Housing Coalition Board Member, the Governor's Affordable Housing Study Commission Board Member, described the workings and membership of the Coalition. He advised he actually is employed as Executive Director of the Community Financing Consortium, Inc., a 17 -member bank consortium which acts as lenders for affordable housing programs. He --.recounted the growing numbers of these consortiums. Mr. Fleming spoke of the traditional role of lending institutions and contrasted it with lending from the private sector and how the lenders of affordable housing developments become stakeholders in the community and the state of Florida. He described the Board's role as a "quasi -banker" and a regulatory agency in the new process. Mr. Fleming narrated a presentation of the following four rehabilitation and new construction projects which have been accomplished through affordable housing programs elsewhere in Florida. 28 February 27, 1997