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BOOK u FAUGE U <br />Section 3. <br />The Board of County Commissioners directs staff to submit two <br />copies of the Indian River County Local Housing Assistance <br />Plan to the Florida Housing Finance Agency by certified mail. <br />A minimum of one of the two copies shall bear the original <br />signature of the authorized official. <br />Section 4. <br />The county shall continue utilizing ten percent (10%) of <br />available SHIP funds for administration of the SHIP program. <br />Section S. <br />The county's maximum assistance from the SHIP funds will be <br />fifteen thousand dollars ($15,000.00) per unit, and the <br />average assistance will be eight thousand five hundred dollars <br />($8,500) per unit. <br />Section 6. <br />The following table indicates the average and maximum per unit <br />SHIP funds allowable for each strategy: <br />STRATEGY _ <br />AVERAGE LOAN AMOUNT <br />MAXIMUM LOAN AMOUNT <br />Impact Fee Grant <br />5000.00 <br />7500.00 <br />Impact Fee Loan <br />5000.00 <br />7500.00 <br />Downpayment/Closing <br />9000.00 <br />15000.00 <br />Cost <br />Rehabilitation <br />9000.00 <br />10000.00 <br />Land Acquisition <br />7500.00 <br />10000.00 <br />Land Bank -Market <br />7500.00 <br />10000.00 <br />Purchase <br />Land Bank -Tax Deed <br />7500.00 <br />10000.00 <br />Purchase <br />The foregoing resolution was offered by Commissioner Adams <br />and seconded by Commissioner Macht , and being put to a vote, <br />the vote was as follows: <br />34 <br />March 11, 1997 <br />_I <br />