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<br /> n 4 . 75 PUBLIC NOTICE ,
<br /> rm 4, . 375 INDIAN RIVER COUNTY WILL BE ACCEPTING
<br /> APPLICATIONS FOR PARTICIPATION IN THE
<br /> COUNTY LOCAL HURRICANE HOUSING
<br /> RECOVERY PROGRAM
<br /> Notice is herebygiven :that, starting August 3, 2005, the Board of County
<br /> Commissioners of Indian River County, Florida will be accepting applications from
<br /> households in the extremely. low, very low, low, and moderate income categories
<br /> • ' CaBh OuP and from non-profit orgamzations or for-profit ;developers for the purchase,
<br /> r8hatiildahon, or production oY affordahle housing units consistent with the
<br /> • Stated Income County's Hurricane -Housing - Recovery Plan. The County estimates that it will
<br /> • All Credit Loans receive $14;5632a ' 0 fincluding administrative costs) for FY 2005-2006, FY
<br /> 2006-2007; and 2007-22008 from the Florida State Hurricane Housing Recovery
<br /> Bankruptcy (HHR) Program, which wilt:be made eveilable througIn the Indton River County
<br /> oval Hurncone HousidgAdelivery Program forthe following activities:
<br /> AVAILABLE LOCAL ASSISTANCE
<br /> Type of Assistance Available by Income Category
<br /> Type of Assistance Income Category Estimated Amount
<br /> ALWAYS THE BEST Impact Fee Grants ELI, vLI, LI x700,000.00
<br /> Impact Fee Loans ELI.VLI, LI, MI $4001000.00
<br /> RATE FIRST WITH .Rehabilitation or Re lacemem Loans ELI,,VLI, LI; MI $778743.00
<br /> ev OUR DIRECT
<br /> Rehabilitation or Relacement Grants ELI VLI LI $3,500000.00
<br /> Down PaymenI costyPrincl al
<br /> WHOLESALE RATES ! ReductionL°ane: Eu vu a MI $500,000.00
<br /> 5
<br /> 89 ®®� � Land AcnwsdionLoans EU , VLI LI $500,000.00
<br /> (through non-profit
<br /> organizations onry)
<br /> Apply online It
<br /> rr 2417 [`��. ;" Matching Grant for Fetleral ELI, VLI, LI, MI $6,000,000.00
<br /> IP.. and State Housing Programs (through non-profit org.
<br /> + • www.manningfinancial.com or developers)
<br /> nter - RI = Bapenif low Income; VLI= Very Low Income; H = LOW Name; Ill = Moderate Income
<br /> Most assistance will be provided as deferred payment loans. These loans do not
<br /> need to be paid back until the assisted unit is sold, refinanced with a "cash out' or
<br /> occupied by someone other than the original loan recipient. Some assistance will
<br /> provid
<br /> be ed as grants. For grants , the grant amount will be forgiven after meeting
<br /> affordability time frame.
<br /> ONE-PEAR ADJUSTABLE Applications for the Local Hurricane Housing Recovery Program must meet the
<br /> POINTS % DN. LOCK CAP following requirements:.
<br /> 1 . Income Level for a household eligible to occupy assisted units A
<br /> nnual gross Income level be classified as either extremely
<br /> 0 .00 5% 30 2/6 household's total a
<br /> low, very lour, law. or moderate income based on the following table.
<br /> NQ 5% 30 2/6 Indian River County Maximum Income Levels
<br /> and Income Classification :
<br /> 0 .00 Solo 30 2/6 Household ExtremelyaLow Very Low Low Moderate
<br /> Size Up to-30% of MI Up to 501af MI55-801 of MI 81-120% of MI
<br /> 1 . Person 1 ,200 18,650 29,850 44 ,760
<br /> NQ _ _ _ 2Persons 12,800 _ 21 ,300 34,100 51 , 120
<br /> 14,400 23;950
<br /> 3 Persons 38,400 57,480
<br /> 4 Persons 16,000 26,650 42,650 63,980
<br /> 46,1050 ss,000
<br /> NQ 5019 30 2/6 5 Persons 17,250 28,750
<br /> 6 Persons 18,550 30,900 49,450 - 74 ,160
<br /> 7 Persons 19,850 33,000 52150 ,850 79,200
<br /> 0.00 5% 30 2/6 8Persons 21,100 me a MedianI come = $53,25800 84,380
<br /> NQ 5% 30 2/6 2-. Maximum. amount of rent to be charged to eligible households.
<br /> Indian River County Maximum Rents
<br /> 0.00 5% 45 2/6
<br /> Unit ELI VLI LI - MI .
<br /> 1 :00 10% 30 2/6 Eticiency 280 466 746 1,119
<br /> 1 Bedrohm: 300 499 799 . 1 ,198
<br /> 2 Bedrooms 360 - 598 - 960 - 1437
<br /> NQ 5° a 30 2/6 9Bedrooms 415 692 1 WB 662
<br /> 4 Bedrooms - 463 772 1 ,236'
<br /> 0.00 5% 30 2/6 3. Homebuer Status: No member of household shall have owned, a home for at
<br /> . least three (3� years before being- approved to receive down paymentIclosing cost
<br /> NQ 5%: 30 2/6 assistance.
<br /> 4.Purchase Price Limitation: The purchase price for new and existing homes may
<br /> .owner- occupied home with a 20% down payment - not exceed $189,682.00.
<br /> )fication fees and should be checked.
<br /> to not provided. N/A = Not Applicable-Consumers wrtr Inlormetlon and applications may beobtained from and completed application must by
<br /> TUNE at I-800-948-3792. submi25th Street, yem Beato the can River County h, Florida, S296Q,'In2) 2 6anning '151011's ficuthill office nested at
<br /> 1648
<br /> 94 or (7721.261454
<br /> .w,LxNwsc'I"asmr.,€4 P:+ ` :/.`. d... "+ ,per: "` 'bra` S �e"z .��. .'
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