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POLICY 2.7: The County shall provide for the creation and preservation of affordable housing for all current and anticipated future residents and households with special housing needs including rural residents and farm workers by allowing affordable housing in all residential areas, rehabilitating existing units with SHIP funds, utilizing CDBG funds for housing rehabilitation and neighborhood revitalization, and undertaking other measures to minimize the need for additional local services and avoid a concentration of affordable housing units in specific areas. - Housing Element Policy 3.5 POLICY 3.5: The County shall offer rehabilitation loan assistance through its local housing assistance program, cooperative ventures with non-profit groups, or Community Development Block Grant (CDBG) type programs to effect spot removal of blighted structures and blighting influences. - Housing Element Policy 4.4 POLICY 4.4: The County shall maintain its Housing Trust Fund, which provides below-market interest rate financing for land acquisition, downpayment/closing cost loans, impact fee and utilities capacity charges payment loans, and rehabilitation loans for affordable housing units in the county. Some disbursements from the Housing Trust Fund will be 10 year loans where the loan amount and accumulated interest will be forgiven in 10 years, but the majority of funds will be provided as revolving loans, with borrowers paying back principal and applicable interest into the trust, therefore ensuring a permanent source of financing. - Housing Element Policy 4.5 POLICY 4.5: The County shall enter into inter -local agreements with any county municipality which because of unusually high property values or coastal high hazard area constraints cannot meet is affordable housing needs within its jurisdiction, and desires to contribute to the Housing Trust Fund. The amount and method of payment will be established prior to execution. - Housing Element Policy 4.6 POLICY 4.6: The County shall maintain its affordable housing partnership with financial institutions for leveraging State Housing Initiatives Partnership Program (SHIP) funds. - Housing Element Policy 4.7 POLICY 4.7: The County shall encourage increased home ownership by providing downpayment/closing cost loan assistance to eligible very low income, low income, and moderate income households through the county's local housing assistance program. - Housing Element Policy 4.9 POLICY 4.9: The County shall require all applicants for downpayment/closing cost loan assistance from the Indian River County Local Housing Assistance Program to attend a homebuyers' cat 47