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TO: James E. Chandler County Administrator D ION HEAD CONCURRENCE: Obert M. Keating, AI / Community Developmen Director FROM: Sasan Rohani, AICP Ca - I/,/' Chief, Long -Range Planning DATE: August 10, 1999 SUBJECT: REVIEW AND CONSIDERATION OF REVISED INDIAN RIVER COUNTY LOCAL HOUSING ASSISTANCE PLAN It is requested that the data herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of August 17, 1999. DESCRIPTION AND CONDITIONS Pursuant to the requirements of Section 420.907, F.S., the State Housing Initiatives Partnership Program (SHIP), and Rule 9I-37.005, Florida Administrative Code (FAC), the Board of County Commissioners approved the Indian River County Local Housing Assistance Plan (Ordinance #93- 13) on April 6, 1993. In June, 1993, the Florida Housing Finance Corporation approved the county's plan and authorized the disbursement of SHIP funds. According to a 1993 amendment to Rule 9I-37.005(2), Florida Administrative Code, the county must periodically submit a new Local Housing Assistance Plan to the Florida Housing Finance Corporation. Accordingly, the county's plan was revised in 1994 and 1997. On March 11, 1997, the Board of County Commissioners adopted resolution #97-16, which approved the county's revised 3 year plan for FY 97-98, FY 98-99, and FY 99-2000. The Florida Housing Finance Corporation then approved the county's revised plan on April 21, 1997, and authorized the disbursement of SHIP funds until June, 2000. The plan, however, can be amended as needed Since 1997, the plan has been revised several times to modify some of the local housing assistance program requirements or to enact some minor clean up changes to the plan. The last set of revisions to the plan was done in September 1998. The county's new 3 year plan for FY 2000- 2001, FY 2001-2002, and FY 2002-2003 is due to the FHFC by May 1, 2000. To meet the May 1, 2000 submittal requirement, county staff has prepared a revised Local Housing Assistance Plan. A copy of that plan is on file in the Board of County Commissioners Office. Since its initial adoption in 1993, the county's Local Housing Assistance Plan has been successful in providing assistance to the eligible households. The following table indicates the SHIP allocations and number of loans given to eligible applicants by fiscal year and by income category. AUGUST 17,1999 27 UDUK 110 rn.E X08