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Fog JUGFaGE �d The proposed changes to the plan are discussed in the next section of this report. If approved. these changes will ensure that the county will continue to meet state requirements for percent of SHIP funds used by very low income persons. These changes will also provide an additional mechanism to maintain the stock of existing owner occupied units. Revisions In the revised plan, additions to the plan are shown as underlined, and deletions are shown as sWke- tlff�i. The revisions are as follows: o Provide for a new rehabilitation grant strategy for very low income persons o Enact several minor clean-up changes to the existing plan. A copy of the revised Indian River County Local Housing Assistance Plan is attached to this staff report. ANALYSIS The revised plan meets all state and local requirements. 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. The revised plan also provides for rehabilitation grant assistance, a change which will provide an incentive for very low income homeowners to make needed repairs to their homes. The revised plan identifies all rehabilitation work activities permitted under the rehabilitation loan strategy and under the rehabilitation grant strategy. Due to credit problems, many very low income persons cannot qualify for rehabilitation loan assistance. A significant number of those are elderly citizens who own homes that need rehabilitation. With the proposed rehabilitation grant, very low income persons can fix their homes using grant funds. The proposed rehabilitation grant will apply only to the rehabilitation work activities needed to make a house safe for habitation and/or to maintain the house's structural integrity. As proposed, the applicant must occupy the assisted unit for at least ten years; otherwise grant funds must be paid back. On August 13, 1998, the county's affordable housing partnership group reviewed and approved the above referenced recommended changes to the local housing assistance plan. By revising the plan. the Board of County Commissioners can enhance maintenance of the existing affordable housing stock, reduce deterioration of existing units, upgrade existing substandard units to code, make deteriorated housing safe for habitation, and make sure that state requirements are met. ALTERNATIVES With respect to the proposed revisions to the Local Housing Assistance Plan, the Board of Countv Commissioners has three alternatives. These are: To adopt the revised plan To adopt the revised plan with changes To reject the revised plan Staff supports either of the first two alternatives. RECOMMENDATION 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. SEPTEMBER 1, 1998 —88—