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portion of SHIP funds . h . Non - Profit Organization Selection Criteria Non - profit organizations eligible to participate in the local housing assistance program shall be selected according to the following criteria : • Ability to proceed with the construction or rehabilitation activities and receive a certificate of occupancy within one year of the closing transaction date • Number of units provided per year • Ability to provide maximum leverage against SHIP funds • The length of time the organization has been in Indian River County • Experience in the development of affordable housing • The organization must be a non - profit entity with current 501 ( c ) ( 3 ) tax exempt status 5 . Application Review Applications shall be reviewed by Community Development Department staff or the third party entity identified by contract to conduct application review activities for compliance with the criteria listed in the previous section . Those applications not satisfying the review criteria shall be classified as disqualified . Applications satisfying the review criteria shall be submitted to the IRCLHAProgram Loan Review Committee ( IRCLHAPRC ) for final review and approval of the application . a . Disqualified applicants shall be informed of the areas causing denial of the submitted application and be encouraged to correct the reasons for denial if possible and then reapply . b . Applicants approved for participation in the IRCLHAProgram shall be issued a Notice of Commitment ( eligibility letter ) indicating that the applicant has qualified for participation in the IRCLHAProgram ; this notice shall also indicate the award type and the amount of the award . The Notice of Commitment shall be valid for a maximum of ninety ( 90 ) working days . The applicant must obtain a written extension letter to maintain the Notice of Commitment beyond the ninety ( 90 ) day maximum . • 57