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• <br />,7 <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 Corporation by certified <br />mail. A minimum of one of the two copies shall bear the <br />original signature of the authorized official. <br />Section 4. <br />The county shall continue utilizing ten percent (10!k) 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 />MABINUM 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 E99ert , <br />and seconded by Commissioner Adam and being put to a vote, <br />the vote was as follows: <br />Chairman, John W. Tippin Aye <br />Vice Chairman, Kenneth R. Macht AM <br />Commissioner, Caroline D. Ginn AYR_ <br />Commissioner, Carolyn K. Eggert AM <br />Commissioner, Fran B. Adams ue_ <br />The Chairman thereupon declared the resolution duly passed and <br />adopted this 10th day of March, 1998. <br />MARCH 10, 1998 <br />-59- 60111K 10 FAGICL 107 <br />