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6 . Florida Energy Efficiency Code for Building Construction (Newly Constructed Housing Units) 7 . Accessibility requirements of 24 CFR Part 8 , 24 CFR 100 . 201 , and 24 CFR 100 . 205 Parcels and residential structures acquired under this program will be purchased at no more than 85 % of the current appraised market value of the property . Current appraised value will be determined by an appraisal completed by a licensed real estate appraiser within 60 days prior to the closing on the property . The Housing Specialist will assign a case number and evaluate each property being considered for purchase under the program . The initial inspection will result in a report of finding which will be used in the consideration for purchase . Homes considered for purchase under this program will be evaluated by the local Housing Specialist and/or Non- Profit and/ or For Profit sub - recipient , and a written recommendation of condition will be submitted to County staff for approval prior to an offer for purchase being submitted to the owner of the property . Written notification will be submitted by certified mail to all property owners who were notified that their properties were being considered for purchase under this program , but later were eliminated from consideration . Prior to the County moving forward with carrying out its due diligence on any parcel being considered for purchase , the owner of the parcel to be acquired under this program , will be required to sign a purchase option contract with the County or its sub - recipient that commits the property owner to sell the property . The County will not exercise any powers of eminent domain as part of the NSP Program . All contractors will be required to maintain and provide proof of builders risk insurance on all new construction and rehabilitation contracts under the NSP Program . The County will advertise for contractors in a newspaper published in a Metropolitan Statistical Area ( MSA) with circulation throughout Indian River County . The County will allow contractors a minimum of 15 days to submit prequalification packages . All contractors must be pre - approved prior to bidding on projects . Pre - approval will include completing a pre - qualification package, providing proof of proper Licensing through the Florida Department of Business and Professional Regulation , providing proof of insurance , providing proof of liability and worker ' s compensation insurance (provided waivers will be evaluated) , and providing references and background documentation . Contractors who have a potential conflict of interest with any recipients , sub - recipients or potential beneficiaries will not be allowed to submit bids or perform any work under the NSP program . 4