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ALTERNATIVES <br />The Board of County Commissioners has two alternatives regarding the proposed SHIP fund set <br />aside for HFI- These alternatives are: <br />1. Not to set aside any of the SHIP funds for HFH <br />2. To set aside SHIP funds for HFH applicants <br />Staff supports alternative number 2, and recommends an FY 2002/2003 funds set aside of $398,380 <br />for Habitat For Humanity to be used for down payment/ closing cost and impact fee loan assistance <br />for HFH clients <br />RECOMMENDATION <br />Based on the analysis performed, staff recommends that the Board of County Commissioners set <br />aside $398,3.$0 of FY 2002/2003 SHIP funds for Habitat For Humanity to be used for <br />downpayment/closing cost and impact fee loan assistance for HFH clients. <br />Attachment: <br />A copy of the letter dated April 8, 2002 from Indian River Habitat for Humanity <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Ginn, the Board unanimously approved setting <br />aside $398,380 of FY 2002/03 SHIP funds for Habitat for <br />Humanity's clients to be used for down payment/closing cost <br />and impact fee loan assistance, as recommended in the <br />memorandum. <br />7.M. Fountain Towers, LLC Developer's Agreement for Construction <br />of Off -Site Utilities - Amendment to Developer's Agreement and <br />Reimbursement by County to Developer (Dr. Harish Sadhwani <br />Managing Member) <br />The Board reviewed a Memorandum of May 7, 2002: <br />June 4, 2002 <br />