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On October 26, 1994, the Florida Housing Finance Agency transmitted a copy of their SHIP review committee findings to the county. According to these findings, the county's Affordable Housing Incentive Plan failed to meet two minimum requirements of Section 420.9076(6), F.S. One of these requirements related to establishment of expedited permit processing for affordable housing projects, while the other related to establishment of a process for assessing housing cost increases associated with proposed development regulations. Subsequently, the county revised its Affordable Housing Incentive Plan. On December 13, 1994, the Board approved resolution #94162 approving the revised Indian River County Affordable Housing Incentive plan. Among the 1997 legislative changes to Chapter 420, F.S. was a requirement to incorporate the county's Affordable Housing Incentive Plan into the County's Local Housing Assistance Plan (sec. 420.9076, F.S.). The county now must combine these two plans and transmit the revised plan to the Florida Housing Finance Corporation. Consistent with the above referenced state requirements, staff has revised the Local Housing Assistance Plan to incorporate provisions that had been in the Incentive Plan and to update the Housing Assistance plan itself. These revisions include the following: changes to the existing local housing assistance plan to update the plan and to do some minor clarification to the existing plan. Additions to the plan are shown as underl and deletions are shown as strn. update of the Florida Housing Finance Agency's housing delivery goals charts addition of the affordable housing incentives strategies from the county's Affordable Housing Incentive Plan to the Local Housing Assistance Plan (pages 48-64). A copy of the revised Indian River County Local Housing Assistance Plan is available for review at the Board of County Commissioners office. As revised, the Local Housing Assistance Plan still provides the basic framework and operating procedures for the SHIP program. As such, the Local Housing Assistance Plan includes SHIP program strategy qualification requirements, and other provisions. As revised, the plan now includes those strategies that had been incorporated in the Incentive Plan. The revised plan meets state and local requirements. By adding affordable housing incentive strategies to the Local Housing Assistance Plan, the county's Affordable Housing Incentive Plan is no longer needed. This revision will ensure that all of the county's SHIP related information and requirements are in one plan. With respect to the proposed revisions to the Local Housing Assistance Plan, the Board of County Commissioners has three alteratives. These are: To adopt the revised plan To adopt the revised plan with changes To reject the revised plan Either of the first two alteratives will ensure that the county will maintain its eligibility to receive SHIP funds. Staff recommends that the Board of County Commissioners adopt the attached resolution approving the revised Indian River County Local Housing Assistance Plan and direct staff to submit two copies of the revised plan to the Florida Housing Finance Corporation for its review and approval. Staff also recommends that the Board authorize the Chairman to sign the certification page. MARCH 109 1998