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6 y <br /> very low - income households . <br /> c . A minimum of thirty percent ( 30 % ) of the funds must <br /> be utilized by households which are classified as <br /> low - income households . <br /> d . Each individual IRCLHAProgram Assistance Strategy <br /> shall further identify the income classification of <br /> eligible persons who may occupy the housing unit . <br /> 3 . Income Classification Levels <br /> The income levels utilized to identify very low - , low - , and <br /> moderate - income eligible persons for participation in the <br /> IRCLHAProgram shall be the gross income limits adjusted for <br /> family size which are published annually by the Florida <br /> Housing Finance Corporation , <br /> 4 , Monetary Allocations <br /> Funds from the Indian River County Local Housing Assistance <br /> Trust Fund ( IRCLHATF ) shall be distributed in conformance with <br /> the following distribution requirements : <br /> a . A minimum of seventy - five percent ( 75 % ) of each <br /> fiscal year ' s funds in the IRCLHATF shall be <br /> expended on Indian River County Local Housing <br /> Assistance Program Strategies which encompass <br /> construction , rehabilitation or emergency repair <br /> activities for eligible housing which will be <br /> utilized by eligible persons . <br /> b . A minimum of sixty - five percent ( 65 % ) of each <br /> fiscal year funds in the IRCLHATF shall be expended <br /> on Program Strategies which result in homeownership <br /> for eligible persons or assist and improve housing <br /> units owned by eligible persons . <br /> An initial transfer of title for an assisted <br /> housing unit between an eligible non - profit <br /> organization sponsor and an eligible person ( s ) <br /> acquiring the unit via a lease - purchase agreement <br /> shall not be considered the resale of the unit <br /> requiring repayment of the loan amount , and <br /> applicable interest amount . <br /> c . One hundred percent ( 1000 ) of all funds held in the <br /> IRCLHATF shall be expended in a manner consistent <br /> with this Plan and Section 420 . 907 of the Florida <br /> Statutes ( F . S . ) . All funds expended from the <br /> IRCLHATF shall be expended for administration and <br /> 8 <br />