Laserfiche WebLink
• Impact Fee Loan Summary Pace <br /> Purpose : To assist eligible persons with the cost <br /> of impact fees and / or capacity charges <br /> associated with new construction or <br /> connections of existing housing units to <br /> the county water and / or sewer system . <br /> Funding Source : State Housing Initiatives Partnership <br /> ( SHIP ) <br /> Eligible Persons : ► Very low income persons and <br /> ► Low income persons <br /> ► Moderate income persons <br /> Assistance : The county provides up to $ 7 , 500 per unit <br /> loan for the cost of impact fees and / or <br /> capacity charges . The loan will be <br /> secured by a promissory note and a <br /> mortgage in favor of Indian River County . <br /> Criteria : Income Eligible Households : VLI ( up to <br /> . 500 of the county ' s median income ) , LI <br /> ( 51 - 800 of the county ' s median income ) , <br /> MI ( 81 - 120 % of the county ' s median income ) <br /> Property <br /> Qualification : Owner - Occupied <br /> Debt Ratio : N / A <br /> Loan Period : Deferred payment loan <br /> Interest Rate : Zero ( 0 ) <br /> Repayment Terms : Repayment of the <br /> loan amount occurs <br /> upon resale of the <br /> unit or if the <br /> assisted unit is <br /> occupied by someone <br /> other than the <br /> original loan <br /> recipient . <br /> • <br /> 19 <br />