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7 1 <br />BOOK_; <br />other way. He confirmed that CIDC was not seeking any financial assistance from the <br />County and their construction would be backed by private financing. <br />In response to County Attorney Vitunac's inquiry, Mr. Lewis advised that CIDC <br />needed a resolution of support from a local entity to satisfy the Internal Revenue Service; <br />they could do it with the support of a local church. He added that they have done this kind <br />of construction program in Leon County, Georgia, New York, and Las Vegas in the past. <br />The Chairman CALLED THE QUESTION and the motion <br />carried 4-1 (Commissioner Ginn opposed). (Adopted <br />Resolution 98-097 supporting the Community Initiatives <br />Development Corporation's proposal to build a 100 -unit <br />moderate income housing project within Indian River County. <br />RESOLUTION NO 98- 97 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY, FLORIDA SUPPORTING THE COMMUNITY INITIATIVES <br />DEVELOPMENT CORPORATION'S PROPOSAL TO BUILD A 100 UNIT <br />MODERATE INCOME HOUSING PROJECT WITHIN INDIAN RIVER COUNTY. <br />WHEREAS, the county population has increased from 90,208 in <br />1990 to 106,675 in 1998, and it is projected to increase to 154,200 <br />in 2020; and <br />WHEREAS, this population growth creates a need for additional <br />housing in general and additional moderate income housing in <br />particular; and <br />WHEREAS, the Community Initiatives Development Corporation <br />(CIDC), a non-profit Corporation, is planning to construct an <br />affordable housing project consisting of approximately 100 three <br />bedroom, two bath housing units within Indian River County; and <br />WHEREAS, the CIDC indicated that the proposed units will be <br />available on a "lease to own" basis to individuals who meet standard <br />mortgage underwriting standards with the exception of not having <br />sufficient funds for a downpayment; and <br />WHEREAS, the CIDC indicated that the project will be financed <br />and owned during the lease period by the Community Initiatives <br />Development Corporation, <br />September 22, 1998 <br />0 <br />of Hudson, New York; and <br />.11 <br />