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11 COUNTY ADMINISTRATOR MATTERS - NONE <br /> 12 . DEPARTMENTAL MATTERS <br /> 12.A. COMMUNITYDEVELOPMENT <br /> 12.A. 1. CONSIDERATION OFMODIFICATION #1 TO THE TREASURE COAST <br /> HOMELESS SERVICES COUNCIL AGREEMENT FOR NEIGHBORHOOD <br /> STABILIZATIONPROGRAM (NSP) COMMUNITYDEVELOPMENT BLOCK <br /> GRANT (CDB G) PRO GRAMMA TIC SER VICES <br /> Director Keating provided background on the Neighborhood Stabilization Program <br /> (NSP) Community Development Block Grant (CDBG) Program, which provides federal grants <br /> to local governments for the purpose of purchasing and rehabilitating foreclosed housing units, <br /> and selling or leasing them to low income households . He reported that when a rehabilitated <br /> home is sold, the County acquires program income, 25 % of which must be set aside to purchase <br /> and repair the homes for sale or lease. He explained that the County has learned that the 25 % set <br /> aside criterion cannot be met through resale activity (as the State thought previously) ; the County <br /> must amend its program to use 25 % of the program income for purchase, rehabilitation, and <br /> rental activities . He relayed that the County ' s partner in the program, the Treasure Coast <br /> Homeless Services Council (TCHSC), will henceforth be selling the rehabilitated homes and <br /> handling the program income . He thereafter asked for Board approval of the proposed <br /> modifications to the Developer' s Agreement between the County and TCHSC , with the <br /> amendments outlined on pages 138 and 139 of the agenda package . <br /> In response to the Board' s questions/comments, Director Keating : ( 1 ) reaffirmed that the <br /> County would no longer be handling the program income ; (2) discussed the financial challenges <br /> of maintaining the homes with the amount of rental income that is generated ; and (3 ) reported <br /> that the County and TCHSC have to comply with monitoring and reporting requirements , <br /> respectively, for 15 years ; after which the TCHSC (or affiliated agencies) would own the homes . <br /> $ ` ? { <br /> 42 PG 9 8 <br /> October 2, 2612 14 <br />