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r _ <br />Boor, <br />SHIP PROGRAM REPORT <br />FY <br />UNT OF <br />FUNDING <br />fending <br />OF LOANS <br />PROVED <br />AND % OF LOANS APPROVE <br />Y INCOME CATEGORY <br />I /o /o /o2-93 <br />Number <br />0,000.00 <br />1 <br />13 1.7117 <br />1.66 <br />11 6.83 <br />3-94 <br />0,000.00 <br />[622,455.00 <br />7 <br />12 2.4318 <br />8.65 <br />18.92 <br />4-95 <br />0,000.00 <br />0 <br />11 6.6713 <br />3.33 <br />0.00 <br />5-96 <br />5,773.00 <br />8 <br />19 2.76 5 <br />0.34 <br />6.90 <br />6-97 <br />2,136.00 <br />4 <br />5 7.30 4 <br />5.95 <br />6.76 <br />7-98 <br />5 <br />2 33.8536 <br />5.38 <br />10.77 <br />8-99 YTD <br />903,723.00 <br />2 <br />3 37.1036 <br />8.06 <br />.84 <br />9-2000 <br />750,775.00 <br />,LrOTAL <br />,224,862.00 <br />67 <br />135 6.78189 <br />1.50 <br />EE12], <br />Rev: 7/15/98 <br />VLI: Very Low Income <br />LI: Low Income <br />MI: Moderate Income <br />The table below indicates the number of loans foreclosed and the number of loans paid back to the <br />Housing Trust Fund to be utilized by other applicants. <br />SHIP Program Loan Foreclosures or Repayments <br />Total number of loans <br />granted <br />Foreclosure Action <br />Loan Repayments <br />Number <br />% of Total <br />Number <br />% of Total <br />367 (as of 8/10/99) <br />5 <br />1.36 <br />20 <br />5.45 <br />As per the requirements of the SHIP Program, the county must submit an annual report for each <br />fiscal year for which SHIP fimds have been used. These reports must be signed by the Chairman <br />of the Board of County Commissioners or his designee. The final reports for FY 1992-93, FY 1993- <br />94, FY 1994-95, and FY 1995-96 were previously submitted to the state. Attached to this staff <br />report are the county's SHIP Program FY 1996-97, FY 1997-98, and FY 1998-99 annual reports. <br />All funds for FY 1996-97 and FY 97-98 have been expanded, and the attached reports are the <br />closeout reports for these fiscal years,, These reports must be submitted to the state by September <br />15, 1999. <br />According to state regulations, SHIP fiords must be utilized in such a manner that all state <br />requirements and all requirements of the county's Local Housing Assistance Program are met <br />Among the State Housing Initiatives Partnership Program (SHIP) requirements are the following: <br />• At least 30% of funds must be utilized by very low income (VLI) households <br />AUGUST 24, 1999 <br />-74- <br />