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• 11 . Indian River County Affordable Housing Partnership <br /> Indian River County has formed an Affordable Housing <br /> Partnership Committee ( Lenders Committee ) . The SHIP <br /> affordable housing partnership committee is composed of <br /> representatives from financial institutions , non - profit <br /> housing organizations , builders , contractors , real estate <br /> agents , and county staff . Because of its members ' <br /> knowledge of and expertise with the housing industry , the <br /> SHIP affordable housing partnership committee has <br /> functioned as an advisory committee to both the Board of <br /> County Commissioners and staff . <br /> Be Local Housing Assistance Proaram Strategies <br /> The strategies available for use in the IRCLHAProgram shall <br /> serve to effectively reduce the cost of housing in two ways . <br /> The first is by awarding grants to eligible recipients , <br /> whereby a portion of the initial cost encountered in acquiring <br /> or providing housing may be eliminated entirely or deferred . <br /> The second method of reducing the cost of housing is by the <br /> provision of deferred payment loans . Such loans result in <br /> reduced costs indefinitely until a time when the eligible <br /> recipients may then be able to afford the costs . By utilizing <br /> assistance strategies , the IRCLHAProgram will encourage the <br /> • provision of affordable housing . <br /> A total of eight ( 8 ) assistance strategies are available for <br /> use by the Indian River County Local Housing Assistance <br /> Program ( IRCLHAProgram ) in providing assistance to eligible <br /> persons or sponsors . Of the eight strategies , emphasis and <br /> priority for use will be placed upon the Impact Fee / capacity <br /> charge Grant , Impact Fee / capacity charge Loan , Downpayment / <br /> Closing Cost Loan , Land Acquisition Loan , Rehabilitation Loan , <br /> and Rehabilitation grant strategies . Utilization of the two <br /> Land Banking strategies will occur solely if funds are <br /> available which may not be effectively utilized under one of <br /> the initial five strategies . These strategies are further <br /> described as follows : <br /> • <br /> 11 <br />