HomeMy WebLinkAbout2006-359 and
INDIAN RIVER COUNTY
LOCAL HOUSING ASSISTANCE PLAN ( LHAP )
GUIDELINES , PROCEDURES ,
AND STRATEGIES
FOR THE
INDIAN RIVER COUNTY
SHIP LOCAL HOUSING ASSISTANCE PLAN ( LHAP )
FY 2006-2007
FY 2007-2008
FY 2008-2009
Revised 9/26/06
TABLE OF CONTENTS
Page
INTRODUCTION 1
I . PROGRAM DESCRIPTION
A. Municipalities Covered by the Plan I
B. Purpose of the Program 1
C . Fiscal Years Covered by the Plan 1
D. Governance I
E . Local Housing Partnership I
F. Leveraging 2
G. Public Input 2
H . Advertising and Outreach 2
I . Discrimination 2
J . Support Services and Counseling 2
K. Purchase Price Limits 2
L . Income Limits, Rent Limits and Affordability 3
M. Wages to Work 3
N . Monitoring and First Right of Refusal 3
O . Administrative Budget 3
II . LHAHP HOUSING STRATEGIES
Local Housing Assistance Program Strategies 4
A . Impact Fee/Capacity Charges Grant 4
Impact Fee Grant Summary Page 6
B. Impact Fee/Capacity Charges Loan 7
Impact Fee Loan Summary Page 9
C . Downpayment/Closing Cost/Principal Reduction Loan 10
Downpayment/Closing Cost Loans Summary Page 13
Downpayment/Closing Cost Loan Process Flow Chart 14
D. Land Acquisition Loans 15
E . Rehabilitation Loan 16
Rehabilitation Loan Summary Page 20
Rehabilitation Loan or Grant Flow Chart 21
F. Rehabilitation Grant 23
Rehabilitation Grant Summary Page 27
G. Emergency/Disaster Repair Grant 28
Emergency/Disaster Repair Grant Summary Page 31
Ill . PROGRAM ADMINISTRATION AND IMPLEMENTATION ACTIVITIES
1 . Application Periods 32
2 . Application Processing 32
3 . IRCLHAProgram Applicant Criteria 33
4 . Application Review 36
IV . LHAP INCENTIVE STRATEGIES 37
A. Expedited Permitting 37
B. Density Bonus 38
C. Small Lot Subdivision 41
D. Accessory Single- Family Dwelling Units 44
E. Multi- Family Dwelling Units in Conjunction with
Commercial Development 45
F. Housing Cost Impact Review Process 46
G . Surplus County Owned Land Inventory 46
H. Zero Lot Line Subdivision 47
I . Establishing/Utilizing SHIP Program 47
V . EXHIBITS
A. Administrative Budget Exhibit A
B . Timeline for Encumbrance and Expenditure Exhibit B
C. Housing Delivery Goals Chart Exhibit C
D. Certification Page Exhibit D
E. Adopting Resolution Exhibit E
F. Program Information Sheet Exhibit F
G. Assets Exhibit G
H . Income Inclusions and Exclusions Exhibit H
1 . Definitions Exhibit I
- ii -
INTRODUCTION
Purpose and Intent
This document , titled Indian River County Local Housing Assistance Plan , outlines
and provides the general guidelines , operating procedures and assistance
strategies of the Indian River County Local Housing Assistance Program as
established by the Indian River County Board of County Commissioners via
Ordinance 93 - 13 ; pursuant to the requirements of the State of Florida State
Housing Initiatives Partnership ( SHIP ) Program and Rule Chapter 67 - 37 , Local
Housing Assistance Plans , Florida Administrative Code ( FAC ) .
The purpose and intent of the Indian River County Local Housing Assistance Plan
is to provide guidelines , operating procedures and assistance strategies to be
utilized by the Indian River County Local Hosing Assistance Program in order to
encourage the provision and rehabilitation of decent , affordable housing for the
residents of Indian River County .
The first Indian River County Local Housing Assistance Plan was approved by the
Board of County Commissioners on April 6 , 1993 . In June , 1993 , the Florida
Housing Finance Corporation approved the county ' s plan and authorized the
disbursement of funds . The county ' s plan was revised in 1994 , 1997 , 1999 , and
2003 .
I . PROGRAM DESCRIPTION Chapter 67 - 37 . 005 F . A . C . and Section 420 . 9072 , F . S .
A . INDIAN RIVER COUNTY , FLORIDA
Section 420 . 9072 ( 5 ) , F . S .
Interlocal : Yes No X
Name of participating local government ( s ) in the Interlocal Agreement ;
This plan is a countywide plan . Consequently , participants may reside in
the unincorporated county or within any municipality in the county ( City
of Fellsmere , City of Sebastian , City of Vero Beach , Town of Indian River
Shores , and Town of Orchid ) .
B . Purpose of the program : Section 420 . 9072 , F . S . and Chapter 67 -
37 . 005 ( 3 ) , F . A . C .
The purpose of the program is to meet the housing needs of very low , low ,
and moderate - income households , to expand production of affordable
housing , to preserve the existing affordable housing stock , and to further
the housing element of the Indian River County Comprehensive Plan specific
to affordable housing . _
C . Fiscal years covered by the Plan : Chapter 67 - 37 . 002 , F . A . C .
X 2006 / 2007
X 2007 / 2008
X 2008 / 2009
D . Governance : Chapter 67 - 37 . 005 ( 3 ) and ( 5 ) ( i ) F . A . C . and Section
420 . 9071 ( 14 ) F . S .
The SHIP Program has been established in accordance with Section 420 . 907 -
9079 , Florida Statutes and Chapter 67 - 37 . 007 , Florida Administrative Code .
The SHIP Program furthers the housing element of the Indian River County
Comprehensive Plan .
E . Local Housing Partnership : Section 420 . 9072 (1 ) (a ) , F . S .
The SHIP Program builds active partnerships between government , laders,
builders and developers , real estate professionals , advocates for low-
income persons , and community groups .
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F . Leveraging : Chapter 67- 37 . 007 ( 1 ) (b) (c) , F . A . C . and Section 420 . 9075 ( 1 ) (a )
and ( 1 ) (W , and ( 1 ) ( c ) , F . S .
Assistance Strategies of the Plan are intended to increase the
availability of affordable residential units by combining local resources
and cost saving measures into a local housing partnership and using public
and private funds to reduce the cost of housing . The most effective
strategy for leveraging SHIP funds is downpayment / closing cost strategy .
SHIP funds may be leveraged with or used to supplement other Florida
Housing Finance Corporation programs and to provide the local match to
obtain federal housing grants or programs .
G . Public Input : Chapter 67 - 37 . 005 (3 ) , F . A . C .
In developing or amending the Local Housing Assistance Plan , public input
is solicited through the Indian River County Affordable Housing
Partnership group , which includes housing providers , social service
providers , local lenders , neighborhood associations and county staff .
Public input is solicited through the local newspaper in the advertising
the Notice of Funding Availability . Also the plan is reviewed by the
Board of County Commissioners . All meetings are open to the public .
Copies of the plan are provided to municipalities and interested
individuals for review and comment .
H . Advertising and Outreach : Chapter 67 - 37 . 005 ( 6) (a ) , F . A . C .
The county shall advertise the notice of funding availability in the Press
Journal , the local newspaper of general circulation , at least 30 days
before the beginning of the application period . If no funding is available
due to a waiting list , no notice of funding availability is required .
I . Discrimination : Section 420 . 9075 ( 3 ) ( c) , F . S .
The county hereby acknowledges that , in accordance with the provisions of
ss . 760 . 20 - 760 . 37 , it is unlawful to discriminate on the basis of race ,
creed , religion , color , age , sex , marital status , familial status ,
national origin , or handicap in the award application process for eligible
housing .
J . Support Services and Counseling : Chapter 67 - 37 . 005 ( 5 ) (g) , F . A . 0
Support services are available from various sources . Available support
services may include but are not limited to :
Homeownership Counseling ( Pre and Post ) , Credit Counseling , and
other support services provided by the County , by the Council on
Aging , by the Community Coach , and other Social Service agencies .
K . Purchase Price Limits : Section 420 . 9075 ( 4 ) ( c ) , F . S . and - Chapter67 -
37 . 007 ( 6 ) F . A . 0
The sales price or value of new or existing eligible housing may not
exceed 90 % of the average area purchase price in the statistical area in
which the eligible housing is located . Such average area purchase price
may be calculated for any 12 -month period beginning no earlier than the
fourth calendar year prior to the year in which the award occurs . The
sales price of new and existing units may not exceed 90 % of the average
area purchase price established by the U . S . Treasury Department or as
described above .
The methodology used is :
X Independent Study ( copy attached )
2
U . S . Treasury Department
Local HFA Numbers
The purchase price limit for new and existing homes is shown on the
Housing Delivery Goals Charts
L . Income Limits , Rent Limits and Affordability :
Chapter 67 - 37 . 005 ( 5 ) ( e) , F . A . C . . and Section 420 . 9071 ( 2 ) , F . S .
The Income and Rent Limits used in the SHIP Program are updated annually
by the U . S . Department of Housing and Urban Development and distributed by
Florida Housing Finance Corporation . Affordable means that monthly rent
or mortgage payments , including taxes and insurance do not exceed 30
percent of a household ' s gross income as indicated in Sections 420 . 9071
( 19 ) , ( 20 ) and ( 28 ) , F . S . It is , however , not the intent of this plan to
limit an individual household ' s ability to devote more than 30 % of its
income for housing . Consequently , housing for which a household devotes
more than 308 of its income shall be deemed Affordable if the
institutional lender providing the first mortgage is satisfied that the
household can afford mortgage payments in excess of the 30 % benchmark . In
the case of rental housing , the amount of rent shall not exceed the rental
limits adjusted for bedroom size as published in rent schedule by Florida
Housing Finance Corporation .
M . Wages to Work : Chapter 67-37 . 005 ( 6) (b) ( 7 ) F . A . C .
The County shall give priority to clients from the WAGES and Workforce
Development Initiatives programs in the selection process .
N . Monitoring and First Right of Refusal : Section 420 . 9075 (3 ) (e) and (4 ) (f) , F . S .
In the case of rental housing , the County SHIP staff or the entity that
has administrative authority for implementing the local housing assistance
plan assisting rental developments shall annually monitor and determine
tenant eligibility or , to the extent that another governmental entity
provides the same monitoring and determination , the SHIP staff may rely on
such monitoring and determination of tenant eligibility . Any loan or
grant in the original amount of $ 3 , 000 or less shall not be subject to
annual monitoring and determination of tenant eligibility requirements .
Tenant eligibility will be monitored annually for at least 15 years or the
term of assistance whichever is longer , unless as specified above .
Eligible sponsors that offer rental housing for sale before 15 years or
that have remaining mortgages funded under this program must give a first
right of refusal to eligible nonprofit organizations for purchase at the
current market value for continued occupancy by eligible persons .
O . Administrative Budget : Chapter 67 - 37 . 005 ( 6) ( f) 3 , F . A . C .
A detailed Administrative Budget , including a line- item budget of proposed
Administrative Expenditures , is attached as Exhibit A . These are
presented on an annual basis for each state fiscal year submitted .
Indian River County commits to using the funds deposited in the local
housing assistance trust fund to administer and implement the local
housing assistance plan . In accordance with Chapter 67 - 37 , Florida
Administrative Code , the cost of administering the plan does not exceed 10
percent of the local housing distribution funds and 5 percent of program
income deposited into the trust fund .
The cost of administering the program may not exceed 10 percent of the
local housing distribution plus 5 percent of program income deposited into
the trust fund .
The county has adopted the above findings in the attached resolution ,
Exhibit E .
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II . LHAP HOUSING STRATEGIES : Chapter 67 -37 . 005 (5 ) , F . A . C .
Local Housing Assistance Program Strategies
The strategies available for use in the IRCLHAProgram shall serve to effectively
reduce the cost of housing in two ways . The first is by awarding grants to
eligible recipients , whereby a portion of the initial cost encountered in
acquiring or providing housing may be eliminated entirely or deferred . The
second method of reducing the cost of housing is by the provision of deferred
payment loans . Such loans result in reduced costs indefinitely until a time when
the eligible recipients may then be able to afford the costs . By utilizing
assistance strategies , the IRCLHAProgram will encourage the provision of
affordable housing .
A total of seven ( 7 ) assistance strategies are available for use by the Indian
River County Local Housing Assistance Program ( IRCLHAProgram ) in providing
assistance to eligible persons or sponsors .
A . Impact Fee /Capacity Charges Grant
a . Summary of the Strategy :
To assist eligible persons with the cost of impact fees and / or water
and sewer capacity charges for owner occupied housing units anywhere in
Indian River County .
b . Fiscal Years Covered : FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009
c . Income Categories to be served :
• Very Low- Income Persons ( between 31 - 50 % of median
income )
• Low- Income Persons ( between 51 - 80 % of median income )
only when impact fee / capacity charge grant is a match
for another state or federal housing program such as
CDBG .
d . Maximum award :
The County provides grants for the actual amount of impact fees and
capacity charges , not to exceed $ 20 , 000 per unit for the cost of
impact fees and / or capacity charges .
e . Terms , Recapture , Default :
The applicant must execute a grant agreement with the county indicating
that the applicant will comply with the county ' s Local Housing
Assistance Plan ' s requirements .
There will be no interest rate for impact fee / capacity charge grants .
Grant Period : 10 Years for owner occupied units .
The repayment of funds awarded as an impact fee / capacity charges grant
is not required , except in cases whereby the eligible housing unit is
sold to non- eligible persons or occupied by someone other than the
original grant recipient prior to termination of the unit ' s affordable
classification timeframe , or refinanced with a cash out prior to
termination of the affordability timeframe . In these cases repayment of
the entire original grant amount is required .
Recaptured funds will be deposited in the county ' s affordable housing
trust fund .
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f . Recipient Selection Criteria :
Applications will be reviewed based on a first come first reviewed
basis , and applicants will be chosen per the following criteria
• Income Eligibility
Employment Verification
• Asset Verification
• Homebuyer Status
g . Sponsor Selection Criteria :
Non - profit organizations or for - profit developers only when the impact
fee/ capacity charges grant is a match for another housing program, such
as the CDBG Program , Home Investments Partnership ( HOME ) , Low Income
Tax Credit Program ( LITC ) , State Apartment Incentive Loan Program
( SAIL ) , Multi - Family Mortgage Revenue Bond Program , Community Workforce
Housing Innovation Pilot Program ( CWHIP ) , or other state and federal
housing programs .
Non-profit organizations or for -profit developers 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 non-profit organization must be an entity with current
501 ( c ) ( 3 ) tax- exempt status
Priority will be given to organizations , which employ personnel
from the WAGES and Workforce Development Initiatives programs
h . Additional Information :
i . Geographic Area
Impact fee / capacity charge grants may be made anywhere in the
County , including all municipalities located within the
County .
ii . Housing Unit Classification
All housing units shall be owner - occupied .
iii . Impact fee / capacity charges grants may be given in combination
with Rehabilitation Grants .
5
Impact Fe / Capacity Charges Grant Summary Page
Purpose : To assist eligible persons with the cost of impact fees
and/ or capacity charges associated with connection of
existing housing units to the county water and/ or sewer
system .
Fundina Source : State Housing Initiatives Partnership ( SHIP )
Eligible Persons : Very low income persons
Low- income persons ( only when the impact fee / capacity
charge grant is a match for another State or Federal
Housing Program such as CDBG )
Assistance : The County provides grants of up to $ 20 , 000 per unit for
the cost of impact fees and / or capacity charges . The
applicant must execute a grant agreement with the County
indicating that the applicant will comply with the
County ' s Local Housing Assistance Program ' s
requirements .
Criteria : Income Eligible Households : VLI ( not to exceed 50 % of
the County ' s median income ) , LI ( 51 - 80 % of County ' s
median income )
Property
Qualification : Owner- Occupied
Debt Ratio : N/ A
Loan / Grant Period : 10 Years . After 10 years the loan
will turn into a grant and will be
forgiven .
Interest Rate : Zero ( 0 )
Repayment Terms : Applicant must sign the County ' s
promissory note and mortgage
document . Mortgage document will
be satisfied after termination of
10 year affordability period . No
payment is required except in cases
where the assisted unit is sold
prior to 10 years , refinanced with
cash out , or occupied by someone
other than the original grant
recipient .
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B , Impact Fee /Capacity Charges Loan
a . Summary of the Strategy :
To assist eligible persons with the cost of impact fees and / or capacity
charges associated with new construction or connections of existing
housing units to the county water and/ or sewer system .
b . Fiscal Years Covered : FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009
c . Income Categories to be served :
• Very Low- Income Persons ( between 31 - 50 % of
median income )
• Low- Income Persons ( between 51 - 808 of
median income )
• Moderate- Income Persons ( between 81 - 120 %
of median income )
d . Maximum award :
The County provides loans for the actual amount of impact fees and
capacity charges , not to exceed $ 20 , 000 . 00 per unit for the cost of
impact fees and / or capacity charges .
e . Terms , Recapture , Default :
The applicant must execute a loan agreement with the county indicating
that the applicant will comply with the County ' s Local Housing
Assistance Plan ' s requirements .
Impact fee loans are deferred payment loans whereby repayment of the
entire loan amount occurs at the time that the eligible housing unit is
sold , refinanced with a cash out , or if the assisted owner occupied
unit is occupied by someone other than the original loan recipient .
There will be no interest rate for impact fee / capacity charges loans .
Recaptured funds will be deposited in the county ' s affordable housing
trust fund .
Eligible persons may repay the entire amount of the loan at any time .
f . Recipient Selection Criteria :
Applications will be reviewed based on a first come first review basis ,
and applicants will be chosen per thefollowingcriteria
• Income Eligibility
• Employment Verification
• Asset Verification
• Homebuyer Status
• Credit Verification
g . Sponsor Selection Criteria :
Non-profit organizations or for-profit developers only when the impact
fee / capacity charges loan is a match for another housing program , such
as the CDBG Program , Home Investments Partnership ( HOME ) , Low Income
Tax Credit Program ( LITC ) , State Apartment Incentive Loan Program
( SAIL ) , Multi - Family Mortgage Revenue Bond Program, Community Workforce
Housing Innovation Pilot Program ( CWHIP ) , or other state and federal
housing programs .
7
Non - profit organizations or for -profit developers , 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 non- profit organization must be an entity with current
501 ( c ) ( 3 ) tax exempt status
• Priority will be given to organizations which employ
personnel from the WAGES and Workforce Development
Initiatives programs
h . Additional Information :
i . Geographic Area
Impact fee / capacity charge loans may be made anywhere in
the County , including all municipalities located within
the County .
ii . Housing Unit Classification
All housing units shall be owner - occupied residences .
iii . Non- Profit organizations can apply for impact
fee / capacity charges loans for building affordable
housing units for eligible households .
iv . Impact fee loans can be given in combination with down
payment closing/ cost or rehabilitation loans .
8
Impact Fee Loan Summary Page
Purpose : To assist eligible persons with the cost of
impact fees and / or capacity charges associated
with new construction or connections of existing
housing units to the county water and / or sewer
system .
Funding Source : State Housing Initiatives Partnership ( SHIP )
Eligible Persons : • Very low income persons
• Low- income persons
• Moderate - income persons
Assistance : The County provides up to $ 20 , 000 per unit loan
for the cost of impact fees and / or capacity
charges . The loan will be secured by a promissory
note and a mortgage in favor of Indian River
County .
Criteria : Income Eligible Households : VLI ( not to exceed
50 % of the County ' s median income ) , LI ( 51 - 80 % of
the County ' s median income ) , MI ( 81 - 120 % of the
County ' s median income )
Property
Qualification : Owner- Occupied
Debt Ratio : N /A
Loan Period : Deferred payment loan
Interest Rate : Zero ( 0 )
Repayment Terms : Applicant must sign the Count ' s
promissory note and mortgage
document . Repayment of the loan
amount occurs upon resale of
the assisted unit , refinancing
with cash out , or occupied by
someone other than the original
loan recipient .
9
C . Downpavment /Closing Cost / Principal Reduction Loans
a . Summary of the Strategy :
To assist eligible persons with down payment and closing costs as well
as principal reduction associated with the purchase of a home .
b . Fiscal Years Covered
FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009
c . Income Categories to be served :
• Very Low- Income Persons ( Not to exceed 50 % of
median income )
• Low- Income Persons ( between 51 - 80 % of median
income )
• Moderate - Income Persons ( between 81 - 120 % of
median income )
d . Maximum award :
1 . Very Low- Income Person $ 50 , 000 . 00
2 . Low- Income Person $ 30 , 000 . 00
3 . Moderate - Income Person $ 20 , 000 . 00
e . Terms , Recapture , Default :
Down payment / closing cost loans are deferred payment loans whereby
repayment of the entire loan amount occurs at the time that the
eligible housing unit is sold , refinanced with cash out , or occupied by
someone other than the original loan recipient .
There will be no interest rate for down payment / closing cost loans .
Recaptured funds will be deposited in the county ' s affordable housing
trust fund .
Eligible persons may repay the entire amount of the loan at any time .
f . Recipient Selection Criteria :
Applications will be reviewed based on a first come first reviewed
basis , and applicants will be chosen per the following criteria
• Income Eligibility
• Employment Verification
• Asset Verification -
• Homebuyer Status
• credit Verification and / or approval from the financial
institution that is granting the first mortgage
• Approval of first mortgage by a financial institution
• Attendance of County ' s Homebuyer ' s Educational Workshop
g . Sponsor Selection Criteria :
N/ A
h . Additional Information :
i . Geographic Area
Down payment / closing cost loans may be made anywhere in the
county , including all municipalities located within the
county .
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ii . Housing Unit Classification
All housing units shall be owner- occupied single family or
condominium residences .
iii . Downpayment closing cost loans can be given in combination
with a rehabilitation or impact fee loan , for purchase of
existing homes or combination with an impact fee / capacity
charge loan for construction of a new unit .
iv . As structured , the Program does not require an applicant to
provide a minimum monetary contribution towards the down
payment or closing costs . This program policy , however , does
not exempt an applicant from a financial institution ' s minimum
monetary contribution requirement , if applicable .
V . No owner financing is allowed . All down payment / closing cost
applicants must receive their first mortgage from a financial
institution .
vi . Except as otherwise provided for herein , SHIP funds shall not
be provided to any household where that household ' s projected
monthly housing cost , including mortgage principal , interest ,
taxes , and insurance , will exceed 30 % of the household ' s gross
income , or where the household ' s total debt will exceed 41 % of
the household ' s gross income . It is not the intent of this
plan to limit an individual household ' s ability to direct more
than 30 % of its income for housing . The monthly housing cost
to gross income ratio ( front end ratio ) may exceed 30 % as long
as the back end ratio does not exceed 41 % ( 45 % for moderate-
income only ) . For moderate- income households , only back end
ratio may be as high as 45 % . In such cases , the first
mortgage lender must inform the county in writing of its
determination . This determination must be based on specific
characteristics applicable to the applicant such as the
applicant ' s debts being short term , the applicant having a
good history of debt management , or other pertinent reasons .
These requirements apply to all income categories .
For the moderate - income group only , SHIP downpayment / closing
cost funds shall not be provided to any household where that
household ' s first mortgage loan to value ratio will fall below
85 % .
Housing units constructed as new units , within one calendar
year , substantially rehabilitated within one ( 1 ) calendar year
prior to purchase , or units to be rehabilitated in conjunction
with the downpayment / closing cost shall be classified as
constructed , rehabilitated , or repaired units .
The maximum term of a first mortgage shall not exceed 30
years . The maximum interest rate for the first mortgage shall
not exceed the Federal National Mortgage Association ( FNMA) or
Federal Home Loan Mortgage Corp . ( FHLMC ) fixed rate 30 or 60 -
day delivery ( published daily in the Wall Street Journal )
rounded up to the nearest . 125 % .
For SHIP downpayment / closing cost loans , the number of points ,
which may be charged by the financial institution providing
the first mortgage shall be as follows :
• For conventional loans , no points shall be charged .
• For FHA loans , a maximum of one ( 1 ) point may be paid
from SHIP funds .
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• For " bond program " loans only , more than one ( 1 ) point
may be paid from SHIP funds .
For applicants in the very low and low- income groups to be
eligible to receive SHIP funds for downpayment / closing costs ,
the first mortgage loan must be a fixed rate loan . Adjustable
or fixed rate loans are acceptable for the moderate- income
group only . No loan requiring a balloon payment is acceptable
for any income group .
Title insurance is required for all downpayment / closing cost
loan transactions .
Downpayment / closing cost loans may be leveraged with loans
from financial institutions , USDA Rural Development , Community
Development Block Grant ( CDBG ) , HOME Investment Partnership
Program ( HOME ) , Community Workforce Housing Innovation Pilot
Program ( CWHIP , and other applicable State or Federal
Programs .
vii . Maximum purchase price is established per 90 % of the average
area purchase price as published by Florida Housing Finance
Corporation .
• Maximum purchase price for new and existing single -
family homes and condos is $ 253 , 125 . 00
viii . Subordination of SHIP Mortgage associated with refinancing
of the first Mortgage
No existing SHIP Mortgage will be subordinated to a refinanced first mortgage
unless the following requirements are met :
Requirements for a Refinanced Mort a e
Maximum Maximum Interest Maximum First Mortgage Maximum Points
Term Rate Allowed Amount Allowed Allowed
Allowed
30 Years Must be a fixed Not to exceed the For downpayment and
rate loan , and original first mortgage closing cost loans up
interest rate must amount . Any available to 1 point allowed
be lower than the equity up to the original
existing first mortgage amount may be For other loans or
mortgage interest used for closing costs grants up to 2 points
rate . associated with the allowed
refinancing .
No cash out to applicant
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Downvavment / Closing Cost Loans Summary Page
Purpose : To assist eligible persons with down payment / closing
costs and principal reduction associated with the
purchase of a home or condominium .
Funding Source : State Housing Initiatives Partnership ( SHIP )
Eligible Persons : Very low- income persons
• Low- income persons
• Moderate- income persons
Assistance : The County provides up to :
• $ 50 , 000 . 00 for very low- income households
• $ 30 , 000 . 00 for low- income households
• $ 20 , 000 . 00 for moderate - income households
The loan will be secured by a promissory note and
mortgage document in favor of Indian River County .
Criteria : Income Eligible Households : VLI ( not to exceed 50 % of
the County ' s median income ) , LI ( 51 % - 80% of the County ' s
median income ) MI ( 81 % - 120 % of the County ' s median
income )
Property
Qualification : Owner - Occupied
Housing Cost to
Income Ratio : 20 - 30 %
Total Debt to
Income Ratio : Not to exceed 41 % for VLI & LI
Not to exceed 45 % for MI
Mortgage Loan
To Value Ratio : Must be 85 % or higher for MI
group only
Loan Period : Deferred payment loan
Interest Rate : Zero ( 0 )
Repayment Terms : Applicant must sign the
County ' s promissory note and
mortgage document . No payment
is required except in cases
where the assisted unit is
sold , refinancing with a cash
out , or occupied by someone
other than the original loan
recipient .
Maximum purchase
Price : New and existing homes and
condos :
$ 253 , 125 . 00
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DownpaYment / Closing Cost Loan Process Flow Chart
Applicant must contact a lbank for pre - qualification
Applicant must attend a Homebuyer ' s Educational Workshop
1
Applicant submits a completed application to the County
The County verifies all income and asset information
The County will send an eligibility letter to the applicant
1
The applicant will take the eligibility letter to the bank
l
Bank will provide the commitment letter
Bank or applicant submits thecommitmentletter to the County
The applicant submits two bids from licensed contractors for needed
rehabilitation work
The County ' s LRC lyapproves the loan
Loan Closing
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D . Land Acquisition Loans
a . Summary of the Strategy :
To assist very low or low- income households for the acquisition of
vacant residential lot for the purpose of building an eligible housing
unit .
b . Fiscal Years Covered :
FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009
c . Income Categories to be served :
• Very Low- Income Persons ( between 31 - 50 % of
median income )
• Low- Income Persons ( between 51 - 80 % of median
income )
d . Maximum award :
The maximum monetary award for a land acquisition loan shall not exceed
$ 50 , 000 . 00 per lot within existing subdivisions .
e . Terms , Recapture , Default :
Land acquisition loans to individual eligible recipients are deferred
payment loans whereby repayment of the entire loan amount is required
at the time the parcel / lot and it ' s corresponding eligible housing unit
is sold or occupied by someone other than the original loan recipient .
Recaptured funds will be deposited in the county ' s affordable housing
trust fund .
Eligible persons may repay the entire amount of the loan at any time .
Housing units assisted with a Land Acquisition loan must be built and a
Certificate of Occupancy must be issued within 24 months of the close
of the applicable State Fiscal Year .
f . Recipient Selection Criteria :
Applications will be reviewed based on a first come first reviewed
basis , and applicants will be chosen per the following criteria
• Income Eligibility
• Employment Verification
• Asset Verification - -
• Homebuyer Status
• Credit Verification
g . Additional Information :
i . Geographic Area
Land Acquisition loans may be made anywhere in the County ,
including all municipalities located within the County .
ii . Housing Unit Classification
All housing units shall be owner - occupied .
iii . Land Acquisition loans can be given in combination with
downpayment / closing cost loans
15
R • Rehabilitation Loans
a . Summary of the Strategy :
To fund all or a portion of the cost encountered in rehabilitating
existing owner - occupied housing units or rehabilitation of acquired
owner occupied housing units in conjunction with downpayment / closing
costs loans .
b . Fiscal Years Covered :
FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009
c . Income Categories to be served :
• Very Low- Income Persons ( Not to exceed 50 % of
median income )
Low- Income Persons ( between 51 - 80 % of median
income )
• Moderate - Income Persons ( between 81 - 120 % of
median income )
d . Maximum award :
The maximum monetary award for a rehabilitation loan shall not
exceed :
$ 50 , 000 . 00 per single family or a condominium- housing unit .
e . Terms , Recapture , Default :
Rehabilitation loans are deferred payment loans whereby repayment of
the entire loan amount occurs at the time the eligible housing unit is
sold , refinanced with a cash out , or occupied by someone other than the
original recipient . There will be no interest rate for rehabilitation
loans . Recaptured funds will be deposited in the county ' s affordable
housing trust fund .
The loan recipient may repay the entire amount of the loan at any
time .
f . Recipient Selection Criteria :
Applications will be reviewed based on a first come first reviewed
basis , and applicants will be chosen per the following criteria
• Income Eligibility
• Employment Verification
• Asset Verification
• Credit Verification
g . Other Rehabilitation Loan requirements :
The IRCLHAProgram anticipates providing no interest loans to eligible
households to fund all or a portion of the cost encountered in
rehabilitating of existing or rehabilitating acquired housing units
eligible for occupancy by eligible persons . Rehabilitation loans shall
be provided consistent with the requirements of the county ' s minimum
standards for rehabilitation of residential properties . Rehabilitation
loans will not be awarded for rehabilitation work completed prior to
the county loan approval . All rehabilitation work must be performed by
licensed contractors .
Rehabilitation loans may be awarded only for rehabilitation work
activities that are identified in the county ' s designated inspector
work write- up and include only items that are in poor condition and
16
cannot be repaired . Rehabilitation loans may be awarded for the
following rehabilitation work activities :
< Roof , including replacement of all rotten wood
< Plumbing work as needed
< Electrical work as needed
< Heating and air conditioning , including insulation and
ceiling fans
< Replacement of doors and windows , if in poor condition
< Replacement of kitchen cabinets , if in poor condition
< Replacement of dry wall as needed
< Painting , carpeting , and vinyl flooring , only as part of
larger rehabilitation work
< Replacement of rotted siding
< Replacement of bathroom tubs , lavatories , and sinks , as
needed to bring the units to a safe and sanitary standard
< Replacement of kitchen sinks as needed
< Pressure wash , only to prepare for any allowed painting or
repair
< Driveway/ culvert ( only if no driveway exists )
< Repairs to make a house accessible for a disabled member of
a household
< Repair or replacement of septic tank , lift station , drain
field or private well as required by the public health
department
< Termite repairs and treatment
< Other repairs as required by the building department to
bring the house up to current minimum housing code
< Installation of window shutters
< Hurricane Mitigation work activities .
Following rehabilitation work activities are not eligible for SHIP
funding :
< Appliances
< Wood and/ or wood- laminate flooring
< Carpeting which is not part of larger rehabilitation work
< Tile floor or wall ( except in bathrooms )
< Patio and porch addition
< Painting which is not part of larger rehabilitation work
< Building a garage or any house addition
< Landscaping , sodding , and similar work
< Any kind of cosmetic work
< Swimming pool and similar facilities
Rehabilitation loan amounts shall be based upon a minimum of two
written licensed contractor estimates for the exact same scope of work ,
identifying all necessary rehabilitation work and the expected costs of
the rehabilitation work . One bid may be accepted at the discretion of
the LHAP Administrator . Contractors ' estimates must be based on a work
write- up prepared by the county designated inspector . The applicant
shall choose one of the contractors to complete the identified
rehabilitation work provided that the contractor cost estimate does not
exceed 110 % of the estimate provided by the county designated
inspector .
Once the contractor estimate is selected and the rehabilitation loan
amount including contingencies established , no additional funds may be
awarded . The contractor estimate must identify all potential costs
( including building permit fees ) to be encountered in completing the
rehabilitation work . Change orders must be approved by the county
designated inspector and local housing assistance program staff .
17
Additionally , the applicant will be required , as part of the
application process , to pay for a credit report when required .
The applicant or his contractor must obtain a building permit from the
corresponding jurisdictional building department for all rehabilitation
activities . The funds for rehabilitation loans of less than $ 5 , 000 . 00
shall be delivered upon completion of all rehabilitation work and a
satisfactory final inspection by the corresponding jurisdictional
Building Department and the county designated inspector that all
required rehabilitation activities for the eligible housing unit are
completed . Funds for rehabilitation loans of $ 5 , 000 . 00 or more may be
delivered in individual draws , not to exceed three draws total , based
upon the completion of individual components of the rehabilitation work
and inspection by the corresponding jurisdictional building department
and the county designated inspector . Each partial draw including the
final draw of funds shall not be less than $ 5 , 000 . 00 and it shall be
delivered upon completion of all rehabilitation work and a satisfactory
final inspection by the corresponding jurisdictional Building
Department and the county designated inspector that all required
rehabilitation activities for the eligible housing unit are completed .
No SHIP funds will be paid for any work completed prior to the county ' s
notice to proceed .
Rehabilitation loans can be leveraged with private funds , small city
Community Development Block Grant ( CDBG ) funds , weatherization funds ,
and other state and federal programs as appropriate .
h . Additional Information :
i . Geographic Area
Rehabilitation loans may be made anywhere in the county ,
including all municipalities located within the county .
ii . Housing Unit Classification
Eligible housing units receiving Rehabilitation loans must
be owner - occupied single - family , or condominium residences .
Mobile homes are not eligible .
iii . Rehabilitation loans can be given in combination with
downpayment closing / cost loans , and impact fee / capacity
charge loans .
i . Residential Hurricane Mitigation :
The County will match SHIP funds with My Safe Florida Home
Funds for hurricane resistant retrofit improvements to owner
occupied site built homes to reduce potential future hurricane
damage . The county shall advertise the availability of My
Safe Florida Home funds , accept applications from very low ,
low , and moderate income homeowners with homestead exemptions
for homes that have insured values not exceeding $ 253 , 125 . 00
( SHIP program maximum) . Applications will be reviewed on first
come , first serve basis . Applications , however , will be
approved based on first application completed , first
application to receive funding .
Eligible retrofit improvements work activities include the
following :
1 . Improving the strength of the roof deck attachment .
2 . Creating a secondary water barrier to prevent water
intrusion
3 . Improving the survivability of the roof covering
4 . Bracing gable - ends in the roof framing
18
5 . Reinforcing roof - to -wall connections .
6 . Upgrading exterior wall opening protections .
7 . Upgrading exterior doors .
All My Safe Florida Home inspectors must have undergone a background
check , drug screening and have specialized training in wind mitigation
procedures and residential construction or inspection experience through
the Florida Department of Financial Services .
All contractors or installation professionals utilized to perform retrofit
work activities must be licensed , insured and registered as a
participating contractor with the Florida Department of Financial
Services .
19
Rehabilitation Loan Summary Page
Purpose : To fund all or a portion of the cost encountered in
rehabilitating existing or acquired owner - occupied
housing units .
Funding Source : State Housing Initiatives Partnership ( SHIP )
Eligible Persons : Very low- income persons
• Low- income persons
• Moderate - income persons
Assistance : The County may provide up to $ 50 , 000 . 00 per unit in
rehabilitation loans consistent with the County ' s
minimum rehabilitation loan standards and requirements .
The applicant shall execute a loan agreement with the
County indicating that the applicant will comply with
the County ' s Local Housing Assistance Program ' s
requirements .
Criteria : Income Eligible Households : VLI ( not to exceed 50 % of
the County ' s median income ) , LI ( 51 - 80 % of the County ' s
median income ) MI ( 81 - 120 % of the County ' s median
income )
Property
Qualification : Owner- Occupied
Debt Ratio : N/ A
Loan Period : Deferred payment loan
Interest Rate : Zero ( 0 )
Repayment Terms : Applicant must sign the
County ' s promissory note and
mortgage document . No repayment
is required except in cases
where the assisted unit is
sold , refinancing with a cash
out , or occupied by someone
other than the original loan
recipient . -
20
Rehabilitation Loan or Grant Flow Chart
Applicant submits a completed LHAP application to the County . This must
include a list of rehabilitation work1 that the applicant wants to be done
If applicant is eligible , the County will notify the LHAP inspector
The LHAP inspector will call the applicant and schedule an inspection
l
The LHAP Inspector will inspect the house
The LHAP Inspector makes a determination if the house is structurally sound ,
if it can be rehabilitated and ,, if so , what needs to be done
The LHAP inspector prepares the work write - up specifications and cost
estimates after the house inspection
The County sends the eligibility letter , work write- up , and list of
contractors told the applicant
The applicant within 6 weeks will obtain two itemized /detailed proposals from
two licensed contractors to undertake the needed rehabilitation work
identified in the work write-up
The LHAP Inspector reviewsthecontractors ' proposals
If the proposals are acceptable , the applicant will sign the bid
1
The County ' s LRC reviews andld approves the loan or grant
The County prepares mortgage documents and closes the loan or grant
1
The County will send the signed promissory note , mortgage document , and notice
of commencement to the courthouse to be recorded
21
Upon receiving recorded documents , the County will send a notice to proceed to
the contractor ( s ) and copy to lyapplicants and LHAP inspector
The LHAP Inspector conducts a pre- construction conference as needed with the
contractor on site
Contractor pulls permits and completes the job per the proposal
1
Inspector from appropriate jurisdiction ' s building department inspect
completed work
Inspection finalized ( county inspector approves the job and owner satisfaction
letter obtained )
Contractor sends bill and contractor ' s final affidavit to the County
The County pays the bill
22
F . Rehabilitation Grants
a . Summary of the Strategy :
To fund all or a portion of the cost encountered in rehabilitating
existing owner - occupied housing units .
b . Fiscal Years Covered :
FY 2006 - 2007 , FY 2007 - 2005 , FY 2005 - 2009
c . Income Categories to be served :
• Very Low- Income Persons
• Low- Income Persons only if it is a match
for another state or federal housing
program
d . Maximum award :
The maximum monetary award for a rehabilitation grant shall not
exceed :
$ 50 , 000 . 00 per single family or a condominium- housing unit .
e . Terms , Recapture , Default :
The repayment of funds awarded , as a rehabilitation grant is not
required , except in cases where the assisted housing unit is sold ,
refinanced with a cash out , prior to termination of the unit ' s
affordable classification timeframe ( 10 years ) or occupied by someone
other than the original grant recipient . In cases where the unit is
sold , refinanced with cash out , or occupied by someone else , the entire
original grants amount must be paid back at the time of resale or
refinancing of the unit .
There will be no interest rate for rehabilitation grants .
Recaptured funds will be deposited in the county ' s affordable housing
trust fund .
I . Recipient Selection Criteria :
Applications will be reviewed based on a first come first reviewed
basis , and applicants will be chosen per the following criteria :
• Income Eligibility
• Employment Verification
• Asset Verification
g . Other Rehabilitation Grant requirements :
The IRCLHAProgram anticipates providing rehabilitation grants to
eligible , very low income households , and limited low income households
to fund all or a portion of the cost of rehabilitation of existing
single - family or condominium owner occupied housing units .
Rehabilitation grants will not be awarded for rehabilitation work
previously completed . All rehabilitation work must be performed by
licensed contractors .
Rehabilitation grants may be awarded if needed rehabilitation work
activities include at least one of the following types of activities
which are essential to make a house safe for habitation and/ or to
maintain the house ' s structural integrity . Rehabilitation grants may
be awarded for rehabilitation of existing units occupied by very low
income or low- income households . Rehabilitation grants may not be
awarded in combination with downpayment / closing cost loan assistance .
Rehabilitation grants will also be used in the event of a natural ,
23
state , or federally declared disaster .
Rehabilitation grants may be awarded only for rehabilitation work
activities that are identified in the county ' s designated inspector
work write - up . Rehabilitation grants may be awarded for the following
rehabilitation work activities .
< Roof , including replacement of all rotten wood
< Plumbing work as needed
< Electrical work as needed
< Heating and air conditioning , including insulation and
ceiling fans
< Replacement of doors and windows , if in poor condition
< Replacement of kitchen cabinets , if in poor condition
< Replacement of dry wall as needed
< Painting , carpeting , and vinyl flooring , only as part of
larger rehabilitation work
< Replacement of rotted siding
< Replacement of bathroom tubs , lavatories , and sinks , as
needed to bring the units to a safe and sanitary standard
< Replacement of kitchen sinks as needed
< Pressure wash , only to prepare for any allowed painting or
repair
< Driveway/ culvert ( only if no driveway exists )
< Repairs to make a house accessible for a disabled member of
a household
< Repair or replacement of septic tank , lift station , drain
field or private well as required by the public health
department
< Termite repairs and treatment
< Other repairs as required by the building department to
bring the house up to current minimum housing code
< Installation of window shutters
< Hurricane Mitigation work activities .
Following rehabilitation work activities are not eligible for SHIP
funding :
< Appliances
< Wood and / or wood- laminate flooring
< Carpeting which is not part of larger rehabilitation work
< Tile floor or wall ( except in bathrooms )
_ < Patio and porch addition
< Painting which is not part of larger rehabilitation work
< Building a garage or any house addition
< Landscaping , sodding , and similar work
< Any kind of cosmetic work
< Swimming pool and similar facilities
Rehabilitation grant amounts shall be based upon a minimum of two
written licensed contractor estimates for the exact same scope of work ,
identifying all necessary rehabilitation work and the expected costs of
the rehabilitation work . One bid may be accepted at the discretion of
the LHAP Administrator . Contractors ' estimates must be based on a work
write- up prepared by the county designated inspector . The applicant
shall choose the contractor ( s ) with the lower estimate to complete the
identified rehabilitation work . Once the contractor estimate is
selected and the Rehabilitation Grant Amount including contingencies
established , no additional funds may be awarded . The contractor
estimate must identify all potential costs ( including building permit
fees ) to be encountered in completing the rehabilitation work . Change
orders must be approved by the county designated inspector and local
24
housing assistance program staff .
The applicant or his contractor must obtain a building permit from the
corresponding jurisdictional building department for all rehabilitation
activities . The funds for rehabilitation grants of less than $ 5 , 000 . 00
shall be delivered upon completion of all rehabilitation work and a
satisfactory final inspection by the corresponding jurisdictional
Building Department and the county designated inspector that all
required rehabilitation activities for the eligible housing unit are
completed . Funds for rehabilitation grants of $ 5 , 000 . 00 or more may be
delivered in individual draws , not to exceed three draws total , based
upon the completion of individual components of the rehabilitation work
and inspection by the corresponding jurisdictional building department
and the county designated inspector . Each partial draw including the
final draw of funds shall not be less than $ 5 , 000 . 00 and it shall be
delivered upon completion of all rehabilitation work and a satisfactory
final inspection by the corresponding jurisdictional Building
Department and the county designated inspector that all required
rehabilitation activities for the eligible housing unit are completed .
No SHIP funds will be paid for any work completed prior to issuance of
the county notice to proceed .
Rehabilitation grants may be leveraged with private funds , small city
Community Development Block Grant ( CDBG ) funds , weatherization funds ,
HUD transitional housing funds , and other state and federal programs as
appropriate .
h . Additional Information :
i . Geographic Area
Rehabilitation grants may be made anywhere in the county ,
including all municipalities located within the county .
ii . Housing Unit Classification
Eligible housing units receiving Rehabilitation grants must
be owner - occupied single- family , or condominium residences .
Mobile homes are not eligible .
iii . Rehabilitation grants can be given in combination with
impact fee / capacity charge grants .
i . Residential Hurricane Mitigation :
The County will match SHIP funds with My SafeFloridaHome
Funds for hurricane resistant retrofit improvements to owner
occupied site built homes to reduce potential future hurricane
damage . The county shall advertise the availability of My
Safe Florida Home funds ; accept applications from very- low
income homeowners , with homestead exemptions for homes that
have insured values not exceeding $ 253 , 125 . 00 ( SHIP program
maximum ) . Applications will be reviewed on first come , first
serve basis . Applications , however , will be approved based on
first application completed , first application to receive
funding .
Eligible retrofit improvements work activities include the
following :
1 . Improving the strength of the roof deck attachment .
2 . Creating a secondary water barrier to prevent water
intrusion
3 . Improving the survivability of the roof covering
25
4 . Bracing gable - ends in the roof framing
5 . Reinforcing roof - to - wall connections .
T. Upgrading exterior wall opening protections .
7 . Upgrading exterior doors .
All My Safe Florida Home inspectors must have undergone a background
check , drug screening and have specialized training in wind mitigation
procedures and residential construction or inspection experience
through the Florida Department of Financial Services .
All contractors or installation professionals utilized to perform
retrofit work activities must be licensed , insured and registered as a
participating contractor with the Florida Department of Financial
Services .
26
Rehabilitation Grant Summary Page
Purpose : To fund all or a portion of the cost encountered in
rehabilitating existing owner - occupied housing units .
Funding Source : State Housing Initiatives Partnership ( SHIP )
Eligible Persons : Very Low- Income persons
• Low- Income persons if it is a match for another
State or Federal Housing Grant
Assistance : The County may provide up to $ 50 , 000 . 00 per unit in
rehabilitation grants . The applicant shall execute a
grant agreement with the county indicating that
applicant will comply with the county ' s Local Housing
Assistance Program ' s requirements .
Criteria : Income Eligible Households : VLI ( not to exceed 50 % of
the county ' s median income ) , LI ( 51 to 80 % of the
county ' s median income )
Property
Qualification : Owner- Occupied
Debt Ratio : N /A
Loan / Grant Period : 10 years . After 10 years the
loan will turn into a grant and
be forgiven .
Interest Rate : Zero ( 0 )
Repayment Terms : Applicant must sign the
County ' s promissory note and
mortgage document . Mortgage
document will be satisfied
after termination of 10 -year
affordability timeframe . No
payment is required except in
cases where the assisted unit
is sold prior to 10 years ,
refinanced with cash out , or
occupied by someone other than
the original grant recipient .
27
G , Emergency/Disaster Repair Grants
a . Summary of the Strategy :
To fund all or a portion of the cost encountered for emergency/ disaster
repair of existing owner- occupied housing units to prevent further
damage to the unit or to make it habitable with temporary repairs . This
strategy shall be used in the event of natural , state or federally
declared disaster .
b . Fiscal Years Covered : FY 2006 - 2007 , FY 2007 - 2008 , FY 2008 - 2009
c . Income Categories to be served :
• Very Low- Income Persons
• Low- Income Persons
d . Maximum award :
The maximum monetary award for an emergency/ disaster repair grant
shall not exceed :
$ 15 , 000 . 00 per single family or a condominium- housing unit .
e . Terms , Recapture , Default :
The repayment of funds awarded , as an emergency / disaster repair grant
is not required , except in cases where the assisted housing unit is
sold , refinanced with a cash out , prior to termination of the unit ' s
affordable classification timeframe ( 10 years ) or occupied by someone
other than the original grant recipient . In cases where the unit is
sold , refinanced with a cash out , or occupied by someone else , the
entire original grant amount must be paid back at the time of resale or
refinancing of the unit .
There will be no interest rate for emergency/ disaster repair grants .
Recaptured funds will be deposited in the county ' s affordable housing
trust fund .
f . Recipient Selection Criteria :
Applications will be reviewed based on a first come first reviewed
basis , and applicants will be chosen per the following criteria .
• Emergency or disaster needs
• Income Eligibility
g . Other Emergency/ Disaster Repair Grant requirements :
The IRCLHAProgram anticipates providing emergency / disaster repair
grants to eligible , very low income , and low- income households to fund
all or a portion of the cost of emergency/ disaster repair for existing
single - family or condominium owner occupied housing units .
Emergency / disaster repair grants will not be awarded for repair work
previously completed . All emergency/ disaster repair work must be
performed by licensed contractors .
Emergency/ disaster repair grants may be awarded if needed for repair
work activities , which are essential to make a house safe for
habitation and / or to prevent further damage to the house .
Emergency/ disaster repair grants may not be awarded in combination with
downpayment / closing cost loan assistance . Emergency / disaster repair
grants will be used in the event of a natural , state , or federally
declared disaster .
28
Emergency repairs eligible for SHIP funding are limited to
weatherization activities and repair activities to prevent further
damage to the house . Weatherization means materials or measures and
their installation , which are used to improve the thermal efficiency of
a residence . SHIP funds may be provided for disaster associated repairs
with only one written licensed contractor estimate and expedited
approval process .
Emergency/ disaster repair grants may be awarded only for rehabilitation
work activities related to a declared emergency or disaster .
Emergency/ disaster repair grants may be awarded for the following
rehabilitation work activities .
< Roof repair and shoring activities to protect and stabilize
housing unit
< Plumbing work if damaged through a disaster
< Electrical work if damaged through a disaster
< Window or door repair or replacement if damaged through a
disaster
< Repair of septic tank , lift station , drain field or private
well as required by the public health department
For any other rehabilitation needs the applicant can apply under
rehabilitation loan and/ or rehabilitation grant assistance strategies .
Emergency/ disaster repair grant amounts shall be based upon a written
licensed contractor estimate for the scope of work , identifying all
necessary repair work and the expected costs of the repair work . The
applicant shall choose a licensed contractor to complete the identified
repair work . Once the contractor estimate is selected and the
emergency/ disaster repair grant amount including contingencies is
established , no additional funds may be awarded . The contractor
estimate must identify all potential costs ( including building permit
fees ) to be encountered in completing the repair work . Change orders
must be approved by the county .
The applicant or his contractor must obtain a building permit from the
corresponding jurisdictional building department for all repair
activities . The funds for emergency/ disaster repair grants of less
than $ 5 , 000 . 00 shall be delivered upon completion of all repair work
and a satisfactory final inspection by the corresponding jurisdictional
Building Department and the county designated inspector that all
required repair activities for the eligible housing unit are completed .
Funds for emergency/ disaster repair grants of $ 5 , 000 . 00 or more may be
delivered in individual draws , not to exceed three draws total , based
upon the completion of individual components of the repair work and
inspection by the corresponding jurisdictional building department and
the county designated inspector . Each partial draw including the final
draw of funds shall not be less than $ 5 , 000 . 00 and it shall be
delivered upon completion of all repair work and a satisfactory final
inspection by the corresponding jurisdictional Building Department and
the county designated inspector that all required repair activities for
the eligible housing unit are completed . No SHIP funds will be paid for
any work completed prior to issuance of the county notice to proceed .
Emergency/ disaster repair grants may be leveraged with private funds ,
small city Community Development Block Grant ( CDBG ) funds ,
weatherization funds , HUD transitional housing funds , or other state
and federal programs as appropriate .
29
h . Additional Information :
i . Geographic Area
Emergency/ disaster repair grants may be made anywhere in the
county , including all municipalities located within the
county .
ii . Housing Unit Classification
Eligible housing units receiving emergency/ disaster repair
grants must be owner- occupied single - family , condominium
residences . Mobile homes are not eligible .
30
Emeraency / Disaster Repair Grant Summary Page
Purpose : To fund all or a portion of the cost encountered in
repair of existing owner - occupied housing units
damaged through a disaster .
Funding Source : State Housing Initiatives Partnership ( SHIP )
Eligible Persons : Very Low- Income persons
• Low - Income persons
Assistance : The County may provide up to $ 15 , 000 . 00 per unit in
emergency/ disaster repair grants . The applicant shall
execute a grant agreement with the county indicating
that applicant will comply with the county ' s Local
Housing Assistance Program ' s requirements .
Criteria : Income Eligible Households : VLI ( not to exceed 50 % of
the county ' s median income ) , LI ( 51 to 80 % of the
county ' s median income )
Property
Qualification : Owner - Occupied
Debt Ratio : N / A
Loan Grant Period : 10 years . After 10 years the
loan will turn into a grant and
will be forgiven .
Interest Rate : Zero ( 0 )
Repayment Terms : Applicant must sign the
County ' s promissory note and
mortgage document . Mortgage
document will be satisfied
after termination of 10 - year
affordability timeframe . No
payment is required except in
cases where the assisted unit
is sold prior to 10 years ,
refinanced with cash out , or
occupied by someone other than
the original grant recipient .
31
222 . PROGRAM ADMINISTRATION AND IMPLEMENTATION ACTIVITIES :
1 . Application Periods :
Applications for participation in the IRCLHAProgram will be accepted
per timeframes indicated in annual advertisement . Advertisements and
notices to promote the IRCLHAProgram shall include application
information for the IRCLHAProgram , and production of the advertisements
and notices shall constitute a part of the administrative application
preparation and review processing activities .
Funds from the IRCLHATF shall be allocated for encumbrance on a first
application complete , first application served basis as applicants are
approved and qualified for participation in the program .
Furthermore , the encumbrance of funds in a manner , which would not
comply , with the requirements of the IRCLHAProgram and the IRCLHAPlan
is not permitted .
2 . Application Processing
Applications submitted by eligible sponsors or persons for
participation in the IRCLHAProgram shall be reviewed by staff members
of the Community Development Department or separate third party under
contract to conduct application reviews for the IRCLHAProgram .
A maximum of ninety ( 90 ) working days may be utilized for review of any
submitted application ; however , reviews may exceed this period pending
the receipt of information or documentation required to complete the
evaluation of the application . Applications will be processed based on
first application completed , first application reviewed by the county
loan review committee .
a . Following is a general application process for
downpayment / closing cost , impact fees , and land acquisition
loans .
At the application acceptance period , each applicant receives an
application number , which is given to him by the IRCLHAProgram
staff in consecutive order .
At the end of the application acceptance period , staff will
conduct application reviews based on the first application
submitted first application to be reviewed . For incomplete
applications , staff will send the applicant a letter letting him
or her know what is needed to complete the application .
For complete applications , staff will through a third party
verify the household ' s income and assets and then send an
eligibility ( commitment ) letter to the applicant , indicating the
household ' s information and informing him that a specific amount
of the funds is reserved for him for 90 days . The eligibility
letter identifies what is needed for an application to be ready
for Loan Review Committee review . The completed applications will
then be submitted to IRCLHAProgram Loan Review Committee ( LRC )
based on first application completed , first application
submitted .
After Loan Review Committee approval , staff will send a Loan
Review Committee approval letter to the applicant and notify him
that the loan / grant must be closed within 90 days . The Loan
Review Committee approval letter specifies steps and documents
needed prior to scheduling a loan closing .
Mortgage document and promissory notes are then prepared , and a
closing is scheduled . At the closing , the applicant signs all
appropriate documents and then funds are expended as needed .
32
b . Following is a general application process for rehabilitation
loans and grants .
At the application acceptance period , each applicant receives
an application number , which is given to him by the
IRCLHAProgram staff in consecutive order .
At the end of the application acceptance period , staff will
conduct application reviews based on the first application
submitted , first application to be reviewed . For incomplete
applications , staff will send the applicant a letter letting him
or her know what is needed to complete the application .
For complete applications , staff will , through a third party ,
verify the household ' s income and assets . Staff then contacts the
applicant to schedule an inspection with the LHAP inspector . The
LHAP inspector then prepares the work write- up , which will then
be sent to the applicant along with the eligibility letter ,
indicating the household ' s information and informing him of a
specific amount of the funds is reserved for him for 45 days .
The eligibility letter identifies what is needed for an
application to be ready for Loan Review Committee review .
Once the bids are submitted , the LHAP inspector reviews them . The
applicant is then notified and comes in to sign the lower bid and
then send an eligibility ( commitment ) letter to the applicant .
The completed applications will then be submitted to the
IRCLHAProgram Loan Review Committee ( LRC ) based on first
application completed , first application submitted .
After Loan Review Committee approval , staff will send a Loan
Review Committee approval letter to the applicant and notify them
of their approval amount and that staff will contact them to
schedule a closing date and time .
Mortgage documents and promissory notes are then prepared , and a
closing is scheduled . At the closing , the applicant signs all
appropriate documents . The documents are sent to the County
Courthouse for recording .
Staff sends a notice to proceed to the contractor after the
recorded documents are returned from the County Courthouse .
Contractor pulls building permits and completes the work .
Appropriate jurisdiction ' s building department inspector inspects
the completed work . Contractor sends the final bill to the
county . Staff requests a check that will be sent directly to the
contractor .
Staff will prepare , and record Satisfaction of Mortgage for the
loans that are paid back or for grants after termination of 10
year affordability timeframe .
3 . IRCLHAProgram Applicant Criteria
Eligible persons or sponsors applying for participation in the
IRCLHAProgram shall comply with the following requirements :
a . Income Level
All households shall be classified as very low- , low- , or
moderate- income households . Household income includes gross
annual income of every member of the household 18 years and
older . In cases where the applicant is an eligible sponsor but
not an eligible person , the assisted housing unit must be
occupied by eligible persons classified as very low- , or low-
income persons . Income inclusion and exclusions will be based on
guidelines provided by the Florida Housing Finance Corporation
( Exhibit E ) .
33
b . Employment Verification
Applicants seeking assistance from the IRCLHAProgram to purchase
eligible housing units shall be eligible persons meeting one of
the following employment criteria :
i . Suitable documentation indicating current , continuous
employment for a minimum of one ( 1 ) year ; or
ii . Suitable documentation indicating current employment
( within twelve ( 12 ) months of an application submittal )
as a seasonal farm worker , with a minimum of two ( 2 )
consecutive years as a seasonal farm worker , whereby the
first period of seasonal employment shall have been for
the full duration of the season , and the second period
shall have been for a minimum of one-half ( 1 / 2 ) of the
current season , if the eligible person ( s ) may be
classified as a seasonal farm worker ( s ) ; or
iii . An eligible person ( s ) classified , as a person ( s ) with
special housing needs , excluding seasonal or migrant
farm workers , shall be exempt from any employment
requirement for participation in the IRCLHAProgram .
C . Asset Verification
Total assets ( cash or non - cash items that can be converted to
cash ) not including IRA , Keogh and similar retirement savings
accounts of eligible persons applying to purchase a housing unit
under , or occupy a housing unit assisted by , the IRCLHAProgram
shall not exceed twenty thousand dollars ( $ 20 , 000 . 00 ) . Assets to
be considered will be determined based on guidelines provided by
the Florida Housing Finance Corporation ( a copy attached as
exhibit G ) .
d . Credit Verification
1 . Credit Requirement for Downpayment / Closing Costs Loans
Eligible persons receiving assistance from the IRCLHAProgram shall
maintain a valid , satisfactory credit rating for a minimum of one ( 1 )
year prior to receiving approval for any IRCLHAProgram application .
For applicants applying for both SHIP funds and a loan from a financial
institution , the applicable financial institution shall determine
whether each applicant ' s credit is satisfactory based upon the
applicable financial institution ' s credit standards .
If for any reason a financial institution does not review the
applicant ' s credit , county staff will assess each applicant ' s credit
based upon the information provided in a credit report from one of the
three national credit - reporting agencies . An applicant will be deemed
to have satisfactory credit if the applicable credit report shows that ,
in the previous 12 months , the applicant had :
- No more than ( 4 ) 30 day late payments
No more than ( 1 ) 60 day late payment
- No 90 day late payments
- No more than 2 collections
- No Collection or combination of collections more than
$ 500 . 00
34
Judgment liens for medical expenses may be acceptable if a
repayment plan is established and payments have been made for
at least the previous 12 months .
Regardless of an applicant ' s credit history for the previous
12 months , an applicant ' s credit will NOT be considered
satisfactory if the applicant ' s credit history shows :
- Any charge offs that were not subsequently paid or
discharged in a bankruptcy
- Active judgments against the applicant
- Repossessions with a remaining balance payable . by the
applicant
- Bankruptcies that have not been fully discharged for
two years with no new negative credit history
2 . Credit Requirement for Rehabilitation and Impact Fee
Loans
Applicants for rehabilitation and impact fee loans will be
deemed to have satisfactory credit if the applicable credit
report shows that there is no active charge off or judgment
against the applicant .
For rehabilitation loans or grants to very low and low income
households in the Gifford Front Porch Community or to low or
very low income households using SHIP funds as match for CDBG
funds , Residential Construction Mitigation Program ( RCMP )
funds , or other state and federal rehabilitation funding , no
credit requirements shall apply .
3 . Credit Requirements for Rehabilitation and Impact Fee
Grants
No credit requirements shall apply to rehabilitation or
impact fee / capacity charge grants .
e . Homebuyer Status
Eligible persons utilizing assistance from the IRCLHAProgram to
purchase a new or existing housing unit shall not have owned or held
title to a housing unit anytime within the three ( 3 ) year period
prior to receiving any application approval for participation in the
IRCLHAProgram .
f . Home Inspection
For applicants applying for both SHIP funds and a loan from a
financial institution , the applicable financial institution shall ,
based on its appraisal report and/ or internal policy , determine what
type of home inspection is needed . The financial institution shall
arrange for the inspections through their established procedures and
shall be responsible for all approval contingencies .
For owner financed loans , the county shall require a termite
inspection for all existing housing units to be purchased with SHIP
funds . The county shall also require the following inspections for
all existing units five years or older to be purchased with SHIP
funds :
Roof
Plumbing system
- Electrical system
Heating and air conditioning system
All county required inspections must be performed by public service
licensed inspectors ; registered or certified residential , building ,
or general contractors ; or licensed trade contractors as
appropriate . Home inspection reports requested by the county shall
35
be reviewed by the county ' s building officials to determine the
condition of the home .
Based on the results of the home inspection review by the bank or
the county , one of the following three actions will be taken :
- If the home is in good condition , the downpayment / closing cost
loan application will be submitted to the loan review
committee for approval ;
If the home needs some rehabilitation work and if the
applicant is eligible to receive a combination
downpayment / closing cost and rehabilitation loan , a combined
downpayment / closing cost and rehabilitation application will
be submitted to the loan review committee for approval ; or
- If the home is in excessive disrepair and cannot be fixed , the
loan application will not be approved .
Home inspection charges are considered to be eligible down- payment
/ closing cost expenses and payable through SHIP funds . In cases
where the county requests a home inspection , but due to the
condition of the home a downpayment / closing cost loan cannot be
approved , the cost of the home inspection will be paid through the
administration portion of SHIP funds .
4 . 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 .
36
a . LHAP INCENTIVE STRATEGIES Section 420 . 9071 ( 16) , F . S .
Since adoption of the County ' s Comprehensive Plan in 1990 , the County has
established several new housing programs and regulations to address various
housing problems . In addition , the County has reviewed all of its ordinances and
regulations to determine if any unnecessarily increase housing costs . Where
appropriate , the regulations and ordinances were revised to encourage the
provision of affordable housing within the county .
The county ' s affordable housing incentive strategies affecting affordable
housing are as follows :
* Regulations providing up to a 20 % density bonus for affordable
housing development projects ( housing element policy 2 . 5 , Land
Development Regulations Section 911 . 14 ( 4 ) ( a ) ) .
* Regulations allowing for small lot subdivisions with reduced
setbacks , lot size , and lot width requirements for Workforce or
Affordable Housing subdivision projects ( Land Development
Regulations , Chapter 911 and section 971 . 41 ( 9 ) ) .
* Regulations allowing for accessory single - family dwelling units in
all agricultural and residential zoning districts ( Land Development
Regulations , Chapter 911 and Section 971 . 41 ( 10 ) )
* Regulations allowing multi - family dwelling units in conjunction with
commercial development , such as apartments over commercial buildings
( Land Development Regulations Section 911 . 10 and Section 971 . 41 ( 6 ) )
* Policies for expedited permit processing ( Housing Element policies
1 . 5 and 1 . 6 )
* Policy for review of proposed local policies or regulations , which
may increase the cost of housing ( Housing Element policy 1 . 7 )
* Inventory of all surplus county owned land ( Housing Element policy
2 . 4 )
* Regulations allowing zero lot line subdivisions ( Land Development
Regulations Section 915 . 15 )
* Establishment of a Local Housing Assistance Program , allowing the
county to utilize State Housing Initiatives Partnership ( SHIP )
program funds for the provision of affordable housing ( Local Housing
Assistance program , Local Housing Assistance plan , Housing Element
policies 2 . 7 , 3 . 51 4 . 40 4 . 6 , 4 . 7 , 4 . 9 , and 9 . 1 )
Following are citations from the county ' s Comprehensive Plan and Land Development
Regulations ( LDAs ) for the above referenced affordable housing incentive
strategies . In the case of amendments to the county ' s comprehensive plan policies
or land development regulations that cause inconsistency between this section of
the Local Housing Assistance Plan and the county ' s Comprehensive Plan or Land
Development Regulations , the Comprehensive Plan and Land Development Regulations
will control .
A . Expedited Permitting
Permits as defined in s . 163 . 3164 ( 7 ) and ( 8 ) for affordable housing
projects are expedited to a greater degree than other projects .
a . Established policy and procedures :
- Housing Element Policy 1 . 5
POLICY 1 . 5 : By 2000 , the county shall assess its existing permit processing
procedure and , if warranted , establish a full one- stop permitting process .
37
- Housing Element Policy 1 . 6
POLICY 1 . 6 : The County shall take all necessary steps to eliminate delays in
the review of affordable housing development projects . In order to define
delay , the county hereby establishes the following maximum timeframes for
approval of projects when an applicant provides needed information in a timely
manner :
- Administrative approval - 5 days ;
- Minor site plan - 5 weeks ;
- Major site plan - 6 weeks ;
- Special exception approval - 13 weeks
Whenever these review times increase by 150 % or more due to the work load of
the review staff , the county will begin prioritizing the review of affordable
housing development project applications . In prioritizing affordable housing
development project applications , staff will schedule affordable housing
project applications for review before other types of project applications to
ensure that maximum review timeframes are not exceeded for affordable housing
projects .
B , Density Bonus :
a . Established policy and procedures
Housing Element Policy 2 . 5
POLICY 2 . 5 : The County shall maintain its affordable housing
density bonus provision for planned development projects , allowing eligible
affordable housing projects to receive up to a 20 % density bonus based on the
following table .
Very Low Income Density Additional Density Bonus for Range of
( VLI ) and Low Bonus Providing Additional Buffer and Possible
Income ( LI ) ( Percent Landscaping based on one of the Density
Affordable Units increase following options ( percent Bonus
as Percentage of in increase in allowable units ) Percentage
Project ' s Total allowable ( Percent
Units units ) Option I Option II increase
in
Material equal Material equal allowable -
to a 10 ' wide to a 20 ' wide units )
Type C buffer * Type B buffer *
with 6 ' opaque with 6 ' opaque
feature along feature along
residential residential
district district
boundaries and boundaries and
4 ' opaque 4 ' opaque
feature along feature along
roadways roadways
More than 30 % 10 % 5 % or 10 % 10 - 20 �
* Buffer types are identified in Chapter 926 of the county ' s Land Development
Regulations
Section 911 . 14 ( 4 ) of the LDRs , Density Bonus
( a ) Affordable housing . Residential developments may receive a density bonus
not to exceed twenty ( 20 ) percent of the density permitted by the applicable
zoning district .
38
1 . For the purpose of this section , an affordable dwelling
unit shall be a dwelling unit which :
a . Has a market value less than three ( 3 ) times the county ' s annual
median household income for Indian River County as established by
the Florida Housing Finance Corporation ; or
b . Has a monthly rent that meet Indian River County rent restriction as
established by the Florida Housing Finance Corporation .
2 . Affordable dwelling units provided in compliance with this section ,
regardless of whether or not the affordable dwelling units are part of a
planned development project , shall comply with the following requirements :
a . The affordable dwelling unit shall remain available as an affordable
dwelling unit for the following periods :
i . Owner - occupied units shall remain affordable dwelling units
for a period of not less than twenty ( 20 ) years commencing on
the first day following the issuance of a certificate of
occupancy , or equivalent final building inspection , for the
unit .
ii . Renter - occupied units shall remain affordable dwelling units
for a period of not less than fifteen ( 15 ) years commencing
on the first day following the issuance of a certificate of
occupancy , or equivalent final building inspection , for the
unit .
b . Initial occupancy of an owner - occupied affordable dwelling unit
shall be by a household classified as very low- income , low- income or
moderate - income whereby the classification is verified by the Indian
River County Community Development Department or an agency , either
public or private , designated by the community development
department or by any state or federal public agencies .
C . Households occupying an affordable housing rental unit shall be
classified as very low , low , or moderate - income households whereby
the classification is verified by the Indian River County Community
Development Department , or its designee or by any state or federal
public agency , prior to the household ' s occupancy of the unit .
While occupying the affordable housing rental unit , a household ' s
annual adjusted gross income may increase to an amount not to exceed
one hundred forty ( 140 ) percent of one hundred twenty ( 120 ) percent
of the county ' s median household income adjusted for household size .
d . With respect to owner- occupied affordable dwelling units provided
under the provisions of the section :
i . The owner - occupant ' s household annual adjusted gross median
income may increase without limit following the household ' s
purchase of the affordable dwelling unit ; and
ii . Resale of an affordable dwelling unit by the initial owner or
any subsequent owner shall be subject to one of the following
provisions :
( a ) If the purchasing household is not verified to be either
a very low , or low income household , then the selling
household shall be subject to providing a cash payment
of the original loan amount and applicable interest , to
the Indian River County Local Housing Assistance Trust
Fund .
( b ) if the purchasing household is verified to be either a
very low , or low income household , then the selling
39
household shall not be required to provide any payment .
e . For projects utilizing the provision of on - site or off - site
affordable dwelling units , no certificate for occupancy for a market
rate priced dwelling unit shall be issued unless the ratio of market
rate dwelling units certified for occupancy to affordable dwelling
units certified for occupancy is equal to or greater than the
overall project ' s approved ratio of market rate dwelling units to
affordable dwelling units .
f . Prior to the issuance of a certificate of occupancy for the
affordable dwelling unit ( s ) , a separate private deed covenant ,
entitled a " restriction on transfer " , shall be filed in the public
records of Indian River County . The covenant shall be subject to
review and approval by county staff in order to verify compliance
with the requirements of this section , and the covenant shall :
i . Identify the subject unit as an affordable dwelling
unit and specify that at no time may the identified
unit be utilized as a model home , construction office
or other non- residential occupancy use ; and
ii . Identify the units corresponding fifteen or twenty year
affordability timeframe ; and
iii . Identify that the initial owner and each subsequent owner
of an owner - occupied affordable dwelling unit must
satisfy and comply with the re - sale provision of the
county ' s local housing assistance plan ; and
iv . Identify the Board of County Commissioners of Indian River
County or its community development department or as its
designee , as the agency with enforcement and verification
authority to enforce the terms of the covenant , and as the
contact agency for closing agents to obtain estoppel
letters ; and
V . Identify any additional terms or conditions relating to
the provision of the affordable dwelling unit as
established by the Board of County Commissioners via its
review and approval of the corresponding planned
development approval .
vi . Specify that monitoring the occupancy of the affordable
dwelling unit shall be included in the compliance
monitoring activities of the county ' s local housing
assistance program , or a suitable substitute determined
by the Indian River County Board of County
Commissioners .
-
vii . Specify that no provision of the restrictive covenant may
be amended without the consent of the Board of County
Commissioners of Indian River County .
3 . An applicant may obtain a development density bonus for a planned development
project in compliance with one of the following options :
a . An applicant may obtain a density bonus by providing affordable
dwelling units within the residential development project that will
utilize the density bonus . For development projects utilizing the
on- site affordable dwelling unit density bonus , the affordable
housing density bonus shall be determined as indicated in the
following table :
40
Very Low Income Density Additional Density Bonus for Range of
( VLI ) and Low Bonus Providing Additional Buffer and Possible
Income ( LI ) ( Percent Landscaping based on one of the Density
Affordable Units increase following options ( percent Bonus
as Percentage of in increase in allowable units ) Percentage
Project ' s Total allowable ( Percent
Units units ) Option I Option II increase
in
Material equal Material equal allowable
to a 10 ' wide to a 20 ' wide units )
Type C buffer * Type B buffer *
with 6 ' opaque with 6 ' opaque
feature along feature along
residential residential
district district
boundaries and boundaries and
4 ' opaque 4 ' opaque
feature along feature along
roadways roadways
More than 30 % 10 % 5 % or 10 % 10 - 20 %
* Buffer types are identified in Chapter 926 of the county ' s Land Development
Regulations
b . An applicant may obtain a density bonus by providing affordable
dwelling units off - site from the residential development project ,
which will utilize the density bonus . For development projects
utilizing the off - site affordable dwelling unit density bonus , the
affordable housing density bonus shall be determined as follows :
The percentage of density bonus shall be one half ( 1 / 2 ) of the
applicable density bonus as determined for on- site affordable
housing projects as provided in the above table .
4 . Approval procedure and other requirements . All planned developments shall
be reviewed consistent with the requirements of Chapter 915 , Planned
Development .
C . Small Lot Subdivision
- Section 971 . 41 ( 9 ) of the LDRs
( a ) Districts requiring administrative permit approval , ( pursuant to the
provision of 971 . 04 ) :
RS - 6 , RT - 6 , RM- 6 , RM- 8 , RM- 10
( b ) Criteria for small lot subdivisions :
1 . The small lot subdivision shall be serviced by centralized water and
wastewater .
2 . The gross density of any small lot subdivision shall not exceed the
maximum density allowed within the zoning district in which the
subdivision is located .
3 . Perimeter lots are those lots which abut or are adjacent to areas
not included in the proposed small lot subdivision . Perimeter lots
which abut property having a residential or agricultural zoning
designation shall :
a . Conform to the standard applicable size and dimension criteria
of the respective zoning district in which the project is
located ; or
41
b . Comply with the following size and dimension criteria :
Minimum lot width : 50 feet
Minimum lot size : 5 , 000 square feet
Minimum yard setbacks :
Front : 20 feet
Side : 7 feet ; 5 feet on lots
fronting a curve or cul -
de - sac circle
Rear Minimum rear yard setbacks
shall be provided , based
upon lot width , as
indicated in the table
below :
Lot width ( feet ) : Rear Yard ( Feet )
• • • • 50 & < 55 30
> 55 & < 60 27
• • • • 60 & < 65 24
• 65 & < 70 22
4 . Interior lots ( those determined not to be perimeter lots ) and those
perimeter lots which abut a property having a commercial / industrial
land use designation shall comply with the following size and
dimension criteria :
Minimum lot width : 50 feet
Minimum lot size : 5 , 000 square feet
Minimum yard setbacks :
Front : 20 feet
Side : 7 feet ; 5 feet on lots
fronting a curve or cul -
de- sac circle
Rear : - 15 feet - -
5 . Accessory structures may encroach into required yards as allowed in
section 911 . 15 of the land development regulations .
6 . In lieu of buffering requirements specified in Chanters 911 and
913 , the following buffer requirements shall apply to small lot
single - family subdivision projects :
A . Buffers Adjacent to Collector and Arterial Roads . A 25 ' wide
Type ^ B " buffer with 6 ' opaque feature shall be rovided along
all perimeters that are adiacent to collector and arterial
roads .
B . Buffers for Other Perimeters . A 10 ' wide Type " C " buffer with
3 ' opaque feature shall be provided along all perimeters that
are not adiacent to collector and arterial roads .
C . The buffer improvement ( s ) shall be located within a buffer
easement ( s ) or tract ( s ) as designated on the small lot
subdivision plat . Said easement ( s ) or tract ( s ) shall be
42
depicted on the final plat and shall be dedicated to the
subdivision ' s property owners ' association to ensure
maintenance of the buffer easement improvement ( s ) shall be
provided in accordance with the provisions of section 913 . 08 of
the land development regulations .
D . No structure ( s ) , other than those related to buffering , dcair�ane
or utilities shall be located in the buffer easement .
7 . In lieu of the green / recreation space , swale , curbing , and sidewalk
q
reuirements of chapters 911 and 913 , the following requirements
shall apply :
A . A minimum 7 . 5 % of the total project area shall be provided as
green space / recreation space . Said area may consist of
Preserved wetlands and or native uplands , park space , pools ,
day- care space , clubhouses , ball - courts , playgrounds , olav-
field areas , or similar uses approved by the community
development director . Said area ( s ) shall be designed to be
conveniently accessible and useable by all project residents .
B . Sidewalks ( minimum 4 ' width ) shall be provided along both sides
of all streets unless an alternative design is approved by the
community development director .
C . The Urban Service Area boundary buffer and wall variation
recruirements of Chapter 913 shall apply to small lot single -
family subdivisions .
8 . Minimum building setbacks as specified in 971 . 41 ( 9 ) ( b ) 3 . and 4 .
above , shall be depicted as a residential building envelope on the
preliminary lat . Lancruage shall be noted on the final plat to the
effect that specially approved setbacks are in effect on the lots .
9 . Workforce or Affordable Housing
In exchange for lot size and setback reductions , small lot single-
family subdivision projects shall meet the following workforce or
affordable housing criteria :
A . All dwelling unit sales and rent prices shall be restricted
for a period of at least 10 years from the date of the unit ' s
first . sale ( closing ) .
1 . The initial sales price of a small lot subdivision housing
unit shall not exceed 3 % x ( 3 . 5 times ) the Indian River
county annual median household income . Over the 10 -year
restriction period , the sales price may be increased 38 per
year ( compounded annually ) .
2 . Where a small lot subdivision housing unit is rented , the
monthly rental price shall not exceed the Indian River
County maximum rent by unit type for moderate income as
published by the Florida Housing Finance Corporation .
B . As an option to and in lieu of criterion " A " above , an
applicant may propose an alternative to the resale price and
appreciation restriction . Any such alternative must ensure
that small lot subdivision housing units remain affordable for
at least 10 years . An alternative to the sales price
restriction shall be structured as a deed restriction which
shall apply to lots created by the small lot subdivision
process . The draft restriction shall be submitted in
conjunction with the small lot subdivision preliminary plat
application and shall :
43
• Identify the proposed method of ensuring
affordability which may include
- Rent /price resale restriction
- Buyer income qualification
- Shared equity process
Other
• Identify appeal / variance procedure or a
prohibition of appeals / variances
• Identify a monitoring program which shall be
administered by public agencies or private
organizations qualified to provide or assist with
workforce or affordable housing .
The alternative shall be considered by the Planning and zoning
Commission and evaluated under the above criteria . The PZC is
authorized to approve the alternative and attach conditions to
ensure that the above criteria are satisfied .
C . The maximum size of each dwelling unit shall be restricted in
perpetuity to 1 , 500 sq . ft . under air .
D . The restrictions required under items A or B , and C above shall
be incorporated into deed restriction , running in favor of the
county and any unit buyer or renter , approved by the County
Attorney and filed in the public records by the project
applicant . The sales price restriction shall require county
consent of the sales price prior to each closing during the 10 -
year restriction period . Such consent is authorized to be made
by the Community Development Director or his designee .
D . Accessory single - family dwelling units
- Section 971 . 41 ( 10 ) of the LDRs
( a ) The construction of an accessory dwelling unit on a residentially zoned
lot shall be allowed subject to the provisions of section 971 . 41 ( 10 ) . The
standards and requirements of this section are intended to make available
inexpensive dwelling units to meet the needs of older households , single
member households , and single parent households . This is in recognition
of the fact that housing costs continue to increase , that households
continue to decline in size , and that the number of elderly Americans is
on the rise .
( b ) Districts requiring administrative permit approval , ( pursuant to the
provisions of 971 . 04 ) :
A- 3 , A- 21 A- 1 , RFD , RS - 1 , RS - 2 , RS - 3 , RS - 6 , RT- 6 , RM- 3 , RM- 4 , RM- 6 , RM-
8 , RM- 10 , Con - 2 , Con- 3 , Rose - 4
( c ) Requirements of section 971 . 41 ( 10 ) shall not supersede property owner
deed restrictions .
( d ) Additional information required :
A site plan conforming to Chapter 914 requirements
Criteria for accessory dwelling units :
1 . Accessory dwelling units shall be located only on lots , which
satisfy the minimum lot size requirement of the applicable
zoning district .
2 . The accessory dwelling unit shall be clearly incidental to the
principal dwelling and shall only be developed in conjunction
with or after development of the principal dwelling unit .
44
3 . Not more than one ( 1 ) accessory dwelling unit shall be
established in conjunction with a principal dwelling unit .
4 . No accessory dwelling unit shall be established in conjunction
with a multi - family dwelling unit .
5 . The heated / cooled gross floor area of the accessory dwelling
unit shall not exceed thirty- three ( 33 ) percent of the
principal structure or seven hundred fifty ( 750 ) gross square
feet , whichever is less . The accessory dwelling unit shall be
no smaller than three hundred ( 300 ) gross square feet of
heated / cooled area .
6 . No accessory dwelling unit shall have a doorway entrance
visible from the same street as the principal dwelling unit .
7 . Detached accessory dwelling units shall be located no farther
than seventy- five ( 75 ) feet in distance from the principal
dwelling unit from the closest point of the principal dwelling
unit to the closest point of the accessory dwelling unit .
8 . Excluding converted garage accessory dwelling units , the
accessory dwelling unit shall be designed so that the exterior
facade material is similar in appearance to the facade of the
existing principal structure .
9 . One ( 1 ) off - street parking space shall be provided for the
accessory dwelling unit in addition to spaces required for the
principal dwelling unit .
10 . The accessory dwelling unit shall be serviced by centralized
water and wastewater , or meet the environmental health
department ' s well and septic tank and drain field
requirements . Modification , expansion or installation of well
and / or septic tank facilities to serve the accessory dwelling
unit shall be designed in a manner that does not render any
adjacent vacant properties " unbuildable " for development when
well and / or septic tank facilities would be required to
service development on those adjacent properties .
11 . No accessory dwelling unit shall be sold separately from the
principal dwelling unit . The accessory dwelling unit and the
principal dwelling unit shall be located on a single lot or
parcel or on a combination of lots or parcels unified under a
recorded unity of title document .
12 . An accessory dwelling unit shall be treated as a multi - family
unit for traffic impact fee and traffic concurrency purposes ,
and the concurrency requirements of Chapter 910 for a multi -
family unit shall be satisfied .
E . Multi -Family Dwelling Units in Conjunction with Commercial Development
- Section 911 . 10 of the LDRs
COMMERCIAL DISTRICTS
USE PRO OCR MED CN CL CG
Multi - Family P P A A A A
Residential
P = Permitted use
A = Administrative permit use
PRO = Professional Office District
OCR = Office , Commercial , Residential District
MED = Medical District
45
CN = Neighborhood Commercial District
CL = Limited Commercial District
CG = General Commercial District
- Section 971 . 41 ( 6 ) of the LDRs
Multiple- family dwellings in commercial areas ( administrative permit : no planning
and zoning commission review or approval required if associated with a site plan
reviewed as an administrative approval or minor site plan ) .
( a ) Districts requiring administrative permit approval , ( pursuant to
the provisions of 971 . 04 ) : MED , CN , CL , CG
( b ) Additional information requirements : a site plan meeting the
requirements of Chapter 914 which shows the location and
specification of all landscape materials , and the location of all
hospital emergency entrances or exits within five hundred ( 500 ) feet
of the site .
( c ) Criteria for multiple- family dwellings within a MED district :
1 . All proposed developments shall be subject to the size and
dimension criteria for multi - family dwellings within the RM- 8
district ;
2 . No residential site shall be located within five hundred ( 500 )
feet of a hospital complex , emergency entrance or exit .
( d ) Criteria for multiple- family dwellings within a CN , CL or CG
district :
1 . All dwelling units shall be accessory to a permitted use
within the applicable zoning district ;
2 . In cases where a single- family unit is being used in
conjunction with a business , the total area of the residence
may exceed the total area of the business . No dwelling unit
shall have street frontage on the ground floor .
F , Housing Cost Impact Review Process
- Housing Element Policy 1 . 7
POLICY 1 . 7 : As part of the adoption process for any countyregulations which
could affect housing development , county planning staff shall prepare a Financial
Impact Statement to assess the anticipated impact of the proposed regulation on
the cost of housing . When proposed regulatory activities are anticipated to
increase the estimated cost per unit projection . The financial impact statement
then will be reviewed by the Professional Services Advisory Committee , the
Planning and zoning Commission , and , if possible , the Affordable Housing Advisory
Committee . Those groups shall consider the regulation ' s effect on housing cost
in making their recommendation to the Board of County Commissioners . The Board
of County Commissioners will consider the financial impact statement in making
its final decision on the adoption of any proposed regulations .
G , Surplus County Owned Land Inventory
- Housing Element Policy 2 . 4
POLICY 2 . 4 : The county ' s general services department shall maintain an inventory
of all surplus county- owned land and foreclosed properties that could be used for
affordable housing . The county shall notify for-profit and non-profit affordable
housing developers whenever is proposes to sell surplus land .
46
H . Zero Lot Line Subdivisions
- Section 915 . 15 of the LDRs
Planned development allowable waivers and development parameters .
waivers from the various conventional standards and criteria found in the
Chapter 911 , Zoning , may be granted by the Board of County Commissioners via
the establishment of special project development parameters , as provided for
herein .
( 1 ) Conceptual P . D . plans shall list , for all areas and phases within the
P . D . project area , the proposed waivers and development parameters for
the following :
1 . Minimum lot size ( in square feet ) ;
2 . Minimum lot width ( in feet ) ;
3 . Minimum lot frontage ( in feet ) ;
4 . Minimum yard setbacks for buildings : front , rear , side
5 . Minimum yard setbacks for accessory structures ( such as
pools , patios , and decks ) ; front , rear , and side ;
6 . Maximum lot coverage ; building ( s ) and impervious surface
area ;
7 . Minimum separation distances between buildings ;
8 . Minimum right - of -way widths ( by road type ) ;
9 . Minimum open space per lot and by phase ( Note : the minimum
open space for the entire project shall meet or exceed the
requirements of section 915 . 18 ) ;
10 . Minimum preservation / conservation area per lot ;
Note : additional conceptual plan submittal requirements are listed- out
in section 915 . 22
( 2 ) Notwithstanding other provisions in this chapter ( 915 ) and Chapter 971 ,
specific land use criteria listed in Chapter 971 may be waived ( modified
or not applied ) where such criteria would merely apply to the
compatibility of uses within the P . D . project area if approved by the
county . where specific land use criteria apply to the relationship of a
use ( s ) within a P . D . project and properties adjacent to the project area ,
the specific land use criteria shall apply pursuant to the provisions of
chapter 971 .
( 3 ) The conventional standards and criteria found in Chapter 911 , . Zoning , not
covered in section 915 . 15 ( 1 ) shall apply unless otherwise specifically
waived or modified by other provisions of this chapter .
I . Establishing/Utilizing SHIP Program
- Housing Element Policy 2 . 7
POLICY 2 . 7 : The county shall provide for the creation and preservation of
affordable housing for all current and anticipated future residents and
households with special housing needs including rural residents and farmworkers
by allowing affordable housing in all residential areas , rehabilitating existing
units with SHIP funds , utilizing CDBG funds for housing rehabilitation and
neighborhood revitalization , and undertaking other measures to minimize the need
for additional local services and avoid a concentration of affordable housing
units in specific areas .
- Housing Element Policy 3 . 5
POLICY 3 . 5 : The County shall offer rehabilitation loan assistance through its
47
local housing assistance program, cooperative ventures with non-profit groups , or
Community Development Block Grant ( CDBG ) type programs to effect spot removal of
blighted structures and blighting influences .
- Housing Element Policy 4 . 4
POLICY 4 . 4 : The County shall maintain its Housing Trust Fund , which provides
below-market interest rate financing , and/ or grants for land acquisition ,
downpayment / closing cost loans , impact fee payment loans , and rehabilitation
loans for affordable housing units in the county . The fund will also assist non-
profit facilitators with pre- development expenses associated with very low , low ,
and moderate income housing development . Some disbursements from the Housing
Trust Fund will be grant , but the majority of funds will be revolving loans , with
borrowers paying back principal and applicable interest into the trust , therefore
ensuring a permanent source of financing .
- Housing Element Policy 4 . 5
POLICY 4 . 5 : The county shall enter into interlocal agreements with any county
municipality which because of unusually high property values or coastal high
hazard area constraints cannot meet is affordable housing needs within its
jurisdiction , and desires to contribute to the Housing Trust Fund . The amount
and method of payment will be established prior to execution .
- Housing Element Policy 4 . 6
POLICY 4 . 6 : The County shall maintain its affordable housing partnership with
financial institutions for leveraging State Housing Initiatives Partnership
Program ( SHIP ) funds .
- Housing Element Policy 4 . 7
POLICY 4 . 7 : The County shall encourage increased home ownership by providing
downpayment / closing cost loan assistance to eligible very low income , low income ,
and moderate income households through the county ' s local housing assistance
program .
- Housing Element Policy 4 . 9
POLICY 4 . 9 : The County shall require all applicants for downpayment / closing cost
loan assistance from the Indian River County Local Housing Assistance Program to
attend a homebuyers ' educational program workshop as a prerequisite for getting a
. loan . The homebuyers ' educational program provides useful information to people
wanting to buy their own home . Typical subjects presented are as follows :
- Preparing for homeownership ( including budgeting , saving , etc . )
- Shopping for a home
- Obtaining a mortgage ( qualifying , processing , etc . )
- Understanding mortgages and the closing process
- Life as a homeowner ( includes maintenance and responsibilities )
- Credit and credit reports
- Housing Element Policy 9 . 1
POLICY 9 . 1 : The County shall maintain its local housing assistance programs . As
part of this coordination process , the county will accept funds , land , in- kind
services , or other types of payments for housing assistance purposes from local
municipalities , which are unable to provide sites for low cost housing within
their jurisdictions .
Affordable Housing Incentive Strategies Evaluation
The county ' s affordable housing incentive strategies are implemented through
48
application of the county ' s Land Development Regulations and enforcement of the
county ' s Comprehensive Plan policies .
All of the county ' s affordable housing incentive strategies are being implemented
as intended . As a result , these strategies are reducing the cost of housing in
the county .
49
IV . EXHIBITS :
A . Administrative Budget for each fiscal year covered in the Plan .
Exhibit A .
B . Timeline for Encumbrance and Expenditure : Chapter 67 - 37 . 005 ( 6 ) ( d)
and ( f) F . A . C .
A separate timeline for each fiscal year covered in this plan is
attached as Exhibit B .
Program funds will be encumbered by June 30 one year following the
end of the applicable state fiscal year . Program funds will be
fully expended within 24 months of the end of the applicable State
fiscal year .
C . Housing Delivery Goals Chart ( HDGC ) For Each Fiscal Year
Covered in the Plan : Chapter 67 - 37 . 005 ) , F . A . C .
Completed HnGC for each fiscal year is attached as Exhibit C .
D . Certification Page : Chapter 67- 37 . 005 ( 7) , F . A . C .
Signed Certification is attached as Exhibit D .
E . Adopting Resolution : Section 420 . 9072 (2 ) (b) 2 , F . S .
Original signed , dated , witnessed or attested adopting resolution
is attached as Exhibit E .
F . Program Information Sheet :
Completed program information sheet is attached as Exhibit F .
G . Assets : Exhibit H .
H . Income Inclusions and Exclusions : Exhibit I .
50
EXHIBIT A
Administrative Budget
A maximum of ten percent ( 10 ) of the annual local distribution to the Indian
River County Local Housing Assistance Trust Fund ( IRCLHATF ) may be expended to
provide for the costs of administering and implementing the IRCLHAProgram . The
Board of County Commissioners has made a finding by separate resolution that
expenditures for administration and implementation of the IRCLHAProgram may
exceed five percent ( 5 $ ) of the IRCLHATF annual balance ; however , at no time
shall the funds expended for administration and implementation of the
IRCLHAProgram exceed ten percent ( 10 % ) of the local distribution for that fiscal
year .
Besides the state annual allocation , the SHIP program trust fund receives other
income from sources such as loans that are paid back and interest earned on the
funds deposited into the affordable housing trust fund . These funds are referred
to as program income . According to state rules , five percent ( 5 % ) of the program
funds may be used for administration expenditures .
Expenditures of funds from the IRCLHATF shall be monitored on a regular basis for
compliance with the expenditure limitation established by the Board of County
Commissioners .
Administration and implementation activities of the IRCLHAProgram , which may be
funded with SHIP funds , shall be limited to those items associated with
conducting the administration and implementation activities listed in this Plan .
Examples of the items , which may be funded , include the following :
a . Staff salaries to conduct the administration and implementation activities
b . Purchase of office supplies and materials to produce materials and
documents required for the program
C . Costs for publications and ads to promote the IRCLHAProgram
d . Travel expenditures related to conducting and operating the IRCLHAProgram
e . Expenses for contract services rendered for information or administration
and implementation activities provided by third parties for the
IRCLHAProgram
I . Studies conducted by the local government or by consultants selected by
the local government to provide data on affordable housing need and demand
in the county .
Estimated budgetary expenditures for conducting the administrative activities are
identified below :
Item Fiscal Year 2006 - 2007
Salaries and Fringe Benefits $ 107 , 030 . 00 - -
Office Expenses 20 , 000 . 00
Travel 51000 . 00
Advertising and Outreach 31000 . 00
Total $ 135 , 030 . 00
Item Fiscal Year 2007 - 2008
Salaries and Fringe Benefits $ 107 , 030 . 00
Office Expenses 20 , 000 . 00
Travel 50000 . 00
Advertising and Outreach 31000 . 00
Total $ 135 , 030 . 00
Item Fiscal Year 2008 - 2009
Salaries and Fringe Benefits $ 107 , 030 . 00
Office Expenses 20 , 000 . 00
Travel 51000 . 00
Advertising and Outreach 31000 . 00
Total $ 135 , 030 . 00
51
EXHIBIT B
Timetable for Expenditures
The administration and implementation activities associated with conducting the
IRCLHAProgram may proceed at varied rates throughout each fiscal year . The
estimated time line at which each of the activities may proceed throughout each
fiscal year for all strategies is indicated in the following chart :
Fiscal Year 2006 - 2007 ( July 1 , 2006 - June 30 , 2007 )
Fiscal Year 2006 - 2007 FY FY
07 / 08 08 / 09
# of Months Flapsed 1 2 3 4 5 6 7 8 9 10 11 112 24 36
Month June J A S O N D J F M A M J
Advertise X
Availability
of Funds
Application X
Period
Start Program X
Year
Annual Report 9 / 15 / 9 / 15 /
07 08
and
9 / 15 /
09
Mid- Year 12 / 06
Review/
Adjustments
End- Year 6 / 6 / 08 6 / 09
Review/ 07
Adjustments
Encumbrance
Deadline 6 / 30 /
08
Expenditure 6 / 30 /
Deadline 09
Final Program 6 / 30 /
Review 09
Fiscal Year 2007 - 2008 ( July 1 , 2007 - June 30 , 2008 )
Fiscal Year 2007 - 2008 FY FY
08 / 09 09 / 10
# of Months Flapsed 1 2 3 4 5 6 7 8 9 10 11 12 24 36
Month June J A S 0 N D J F M A M J
Advertise X
Availability
of Funds
Application X
Period
Start Program X
Year
Annual Report 9 / 15 / 9 / 15 / 09
08 and
9 / 15 / 10
Mid- Year 12 /
Review/ 07
Adjustments
52
End- Year 6 / 6 / 09 6 / 10
Review/ 08
Adjustments
Encumbrance 6 / 30 /
Deadline 09
Expenditure 6 / 30 / 10
Deadline
Final Program 6 / 30 / 10
Review
Fiscal Year 2008 - 2009 ( July 1 2008 - LTune 30 , 2009 )
Fiscal Year 2008 - 2009 FY FY
09 / 10 10 / 11
# of Months Elapsed 1 2 3 4 56 7 8 9 10 11 12 24 36
Month June J A S O N D J F M A M J
Advertise X
Availability
of Funds
Application X
Period
Start Program X
Year
Annual Report 9 / 15 / 9 / 15 /
09 10and
9 / 15 /
11
Mid- Year 12 /
Review / 08
Adjustments
End- Year 6 / 09 6 / 10 6 / 10
Review/
Adjustments
Encumbrance 6 / 30 /
Deadline 10
Expenditure 6 / 30 /
Deadline 11
Final Program 6 / 30 /
Review M fl 11
• Advertise availability of funds and application period at least 30 days
prior to application acceptance date
• Encumbrance of funds ( 12 months following end of state FY )
• Expenditure of funds ( 24 months following end of state FY )
Annual report must be submitted to the FHFC by September 15 of each year .
F:\Com wity Development\Users\SHIP\NEW FY DOCS\FY2006-2007THAP2006-2007 revised 092606 wderlined.dm
53
Exhibit FLORIDA HOUSING FINANCE CORPORATION PridSx Crw6 .PP16 Jbkhii, a 'n .,,,..a„„,nwriter � MIW.
HOUSING DELIVERY GOALS CHART New Plan: X
STRATEGIES FOR THE LOCAL HOUSING ASSISTANCE PLAN FOR STATE FISCAL YEAR: 2006-2007 Amendment
Fiscal Yr. Closeout 2008-09
Name of Local Government: Indian River County Available Funds: $ 1 ,500,000
A B C D E F
HOMEOWNERSHIP VU Max. SHIP LI Max. SHIP MI Max. SHIP New Construction Rd,ablitepair W'rrmd Cunslrux ion Total Total Total
STRATEGIES Unite Award Units Award Units Award SHIP Dollars SHIP nollars SHIP Dollars SHIP Dollars Percentage Undx
I- Impact lee/Capoly Chargrt Grant 3 $20,000 0 520,000 0 $0 $15,000-00 $ 15,000.00 1 .00"/ 3
2. Impart Neleapadty Chargex Loan 10 $20,000 10 520,000 - $20,000 $100,000. 00 $ 100,000.00 6-67°0 25
T. Downpaymenuaoang CnxtIwn 10 $50,000 20 $ 30,000 - $20,000 $617,425 . 00 530,000.00 $647,425-00 43- 16% 35
4, Rehddlhatwn Loan 7 $50,000 10 $50,000 5 550,000 $517,513 . 00 $ 517,513-00 3450% 22
s . Rehabdlatlnn Grant 5 $50,000 0 $ 30,000 0 $0 $ 100,000. 00 $ 100,000.00 6,67% 5
6. Land Acquisition Loan 0 $ 50,000 0 $ 50.000 0 $0 $0.00
z LmergernyOnsastrn Repair cram 0 $ 15,000 0 $ 15,000 0 $0 $0.00
$0.00
Subtotal 1 (Home Ownership) 35 40 15 1 $ 717, 425 00 $632,513.00 $30,000.00 $ 1 ,379,938 00 $0-92 90
RENTAL VII Max. SHIP LI Max. SHIP MI Max. SHIP New Construtliem NMab/Repair Without Cmntrudlon Total Total Total
STRATEGIES Units Award Unik Award Units Award SHIP Dollars SHIP Dollars SHIP Dollars SHIP Dollars Percentage Units
Subtotal 2 (Non-Home Ownership) 0 1 ( 1 0
Administration fees $ 120,062.00 1000%
Admin. From Program Income $ 14,968 .00 5,00%
Home Ownership Counseling $0.00
G RAND TOTAL $ 1 , 500,000.00 100"h 90
Md wbiowR I s 2. 5ne Or Arminn nu I"mumx 35 40 1 1 1 $717425.00 $632,513 .00 $30,000.00
Percentage Construction/Rehab Calculate Conetr.'Nehah Percent. by adding Grand Total Cdumm A&R, men divide by Annual Allocation Aml.
Maximum Allowable
Purchase Price: I New $253 , 125-00 Existing $253, 125.00
Allocation Breakdown Amount % Projected Program Income: $299,377.00 iMax Amount Program Income For Admin : $ 14,968-00
Very-Low Income $ 551 ,975 20 40 fl% Projected Recaptured Funds'. soon ]-
Low Income $689,969 .00 50.0% Dblribu6on: $ 1 .200,623.00
Moderate Income $ 137,99180 10.0n/1 Total Available Funds: $ 1 ,500,000.00
TOTAL $1 ,379,938.00 100.0°L, 16 0s t-06 11 19 AM
2006-0 7-H D G C-EXHIBIT C
Exhibit FLORIDA HOUSING FINANCE CORPORATIONAAssetl-Lxapw. AcIAsAif Amu nam.A1, wt., Mi
HOUSING DELIVERY GOALS CHART New Plan x
STRATEGIES FOR THE LOCAL HOUSING ASSISTANCE PLAN FOR STATE FISCAL YEAR: 2007-2008 Amendment
Fixal Sur, an,l 2009- 10
Name of Local Government: Indian River County Available Funds: s1 ,.So0,000
A B C D F F
HOMEOWNERSHIP VLI Max. SHIP U Max. SHIP MI Max. SHIP Nex' (mmirurlirn Annan/Rxyair Without Construction Total Total Total
STRATEGIES Units Award Unit; Award Units Award SHIP Dollars SHIP Dollars SHIP Dollars SHIP Dollars Percentage Units
1, In,pa<IP Gpadly aarge. Brant 3 $20,000 0 $20,000 0 50 $15,000.00 $ 15,000.00 1 .00% 3
2. Impact herl( apai hargnsloan 10 $20,000 10 $20,000 5 $20,000 5100.000.00 $ 100,000-00 6 . 67"•b 25
t- DownPayoncro/ singcostLoan 10 $ 50,000 20 $30,000 5 $20,000 $611. 425 .00
$30,000 .00 $647,425.00 8316°k 35
4. xehanilualion to an 7 $50,000 10 $50,000 5 $50,000 $517, 513 .00 $517, 513 .00
34 . 50"r0 22
s- Rehabilitation Gram 5 $ 50,000 0 $50,000 0 $0 $ 100,000-00 $ 1001000.00 6 . 67%
6. Land Acmi.ition Loan 0 is 50,000 0 $50,000 0 $0 $0.00
z Emergency/Diaster Rcvair Gram 0 £ 15,000 0 $ 15AW 0 $0 $0.00
$0.00
Subtotal I (Home Ownership) 35 40 15 $711,423. 00 $632,513 .00 $30,00000 $ 1 ,379,938.00 $092 90
RENTAL VU Max. SHIP LI Max. SHIP MI Max. SHIP New Conslocliun Rehab/Yrylair Without Construction Total Total Total
STRATEGIES Units Award Units Award Units Award SHIP Dollars SHIP Dollars SHIP Dollars SHIP Dollars Percentage Units
Subtotal 2 (Non-Home Ownership) 0 0 1 01 1
Administration Fees $ 120,062.00 1000%
Admin. From Program Income $ 14,968.00 5 . 00 ".0
Home Ownership Counseling $000
GRAND TOTAL $ 1 ,500,000.00 100% 90
AM m,.6 , s x ousA Ami n m ( mmmma 35 1 40 1 15 1 $717, 425. 00 $632,51300 $30,000.00
Percentage Construction/Rehab Calculate Cw,ncraenab Percent. by adding Grand total columns A&C then divide sty Annual Allocation Amt.
Maximum Allowable
Purchase Price: New $253 ,125.00 Existing $ 12500
Allocation Breakdown Amount % Pri and Program Income. $299,37] 00 Max ATTI(cl It Program Income For Admin : $ 14.96ri.00
Very-Low Income 5551 ,975-20 40.0% Projected Recaptured Fundy. $0.00
Low Income $689,969-00 50-0%
Dlslribution: $ 1 .200,623-W
Moderate Income $ 137,9'73 .00 100°h total Available FunJs: $ 1 , 500,000.00
TOTAL $ 1 ,3 79,938.00 100.00i1,
160( tl l a 6 AM
2007-08-H DGC-EXHIBITC
Exhibit FLORIDA HOUSING FINANCE CORPORATION Plea- astral, amp.alliInn adAndre It, rmImar .,
HOUSING DELIVERY GOALS CHART New Plan: X
STRATEGIES FOR THE LOCAL HOUSING ASSISTANCE PLAN FOR STATE FISCAL YEAR: 2008-2009 Amendment:
Fiscal Yr. Closeout: 12010- 11
Name of Local Government: Indian River County Available Funds: $ t ,SUU,000
A 8 C O C F
HOMEOWNERSHIP VU Max. SHIP LI Max. SHIP MI Max. SHIP New Curournaion as Rehab/Repair Without (pustulation Total Total Total
STRATEGIES Units Award Units Award Units Award SHIP Dollars SHIP Dollars SHIP Dollars SHIP Dollars Percentage Units
I_ Impart Fee;Capad[y Charges Gram 3 $20,000 0 $ 20,000 0 $0 $ 15,000.00 $ 15,000.00 1 ,00% 3
2. Impacueacarains Charger l nap 10 $20,000 10 $ 20,000 - $20,000 $ 100,000.00 $ 100,000,00 6.67% 25
1_ Duwnpaymem/Cloeing Cost Learn 10 $50,000 20 $30,000 5 $20,000 $617,42500 $ 30,000.00 $647,425.00 4316%p 35
a. Rebabildan.m l can 7 $ 50,000 10 $10,000 5 $50,000 $517, 513 .00 $517, 513 .00
34.50% 22
Rehabilitation cram 5 $ 501000 0 $ 50,000 0 $0 $ 100,000.00 $ 100,000.00 6.67%
6 and Anquisuiun Loan 0 $50,000 0 $ J0,000 0 $0 $0.00
7. 6nerismixi Disaster Repair Gran[ 0 $ 15,000 Q $ 11000 U $0 $000
$0.00
Subtotal t (Home Ownership) 35 40 1S 5717,425.00 $632,513 .00 $ 30,00000 $ 1 ,379,938.00 $0.92 90
RENTAL VLI Max. SMP U Max. SHIP MI Max. SHIP New Contraction RMab/Rapair Without Construction Total Total Total
STRATEGIES Units Award Fuels Award Unit Award SHIP Dollars SHIP Dollars SHIP Dollar, SHIP Dollars Percentage Units
Subtotal 2 (Non-Home Ownership) 0 1 0 0
Administration Fees $ 120,062.00 10.00%
Admin. From Program Income
$ 14,96800 5 .00"/n
Home Ownership Counseling $0.00
GRAND TOTAL $ 1 ,500,000.00 100% 90
.n admen Hocpp,peas 35 1 40 1 1 1 $ 717,425.00 $632,513 .00 $30,000.00
Pert entage Construction/Rehab Calculate Conslr.;Rehab Percent. by adding Grand TotalMumnp ast then divide by Annual Allocation Amt.
Maximum Allowable
Purchase Price: New $253 , 125.00 Existing $253, 12500
Allocation Breakdown Amount % Lgruls:
m Income: $299,377.00 Ma. Amount Program Incorne f or Admin- $ 14,968 .00
Very-Low Income $551 ,975 .20 40 Cts. tured Funds: $0.00
Low Income $689,969-00 50.0% S 1 ,200.623.00
Moderate Income $ 137,993 80 10.0`:4 $ 1 ,500,000.00
TOTAL $ 1 ,379,938.00 100.0"/. 16-00-06 11 17 AM
2008-09-H D G C-EXHIBIT C
Exhibit D
CERTIFICATION TO
FLORIDA HOUSING FINANCE CORPORATION
Name of Local Government: Indian River County, Florida
( 1 ) The local government will advertise the availability of SHIP funds pursuant to Florida
Statutes.
(2) All SHIP funds will be expended in a manner which will insure that there will be no
discrimination on the basis of race, creed, religion, color, age, sex, familial or marital
status, handicap, or national origin.
(3) A process for selection of recipients for funds has been developed.
(4) The eligible municipality or county has developed a qualification system for applications for
awards.
(5) Recipients of funds will be required to contractually commit to program guidelines .
(6) The Florida Housing Finance Corporation will be notified promptly if the local
government (or interlocal entity) will be unable to comply with the provisions the plan.
(7) The Local Housing Assistance Plan shall provide for the expenditure of SHIP funds within
24 months following the end of the State fiscal year in which they are received .
(8) The plan conforms to the Local Govenmient Comprehensive Plan , or that an amendment to
the Local Goveriunent Comprehensive Plan will be initiated at the next available opportunity
to insure conformance with the Local Housing Assistance Plan.
(9) Amendments to the approved Local Housing Assistance Plan shall be provided to the
Corporation with in 21 days after adoption.
( 10) The trust fund shall be established with a qualified depository for all SHIP funds as well
as moneys generated from activities such as interest earned on loans .
( 11 ) Amounts on deposit in the local housing assistance trust fund shall be invested as pemritted
by law .
( 12) The local housing assistance trust fund shall be separately stated as a special revenue fund in
the local governments audited financial statements, copies of the audits will be forwarded to
the Corporation as soon as available.
13) An interlocal entity shall have its local housing assistance trust fund separately audited
for each state fiscal year, and the audit forwarded to the Corporation as soon as possible.
1
October 2003
Exhibit D
Page 2
Certification
( 14) SHIP funds will not be pledged for debt service on bonds or as rent subsidies .
( 15) Developers receiving assistance from both SHIP and the Low Income Housing Tax
Credit (LIHTC) Program shall comply with the income, affordability and other LIHTC
requirements, Similarly, any units receiving assistance from other federal programs shall
comply with all Federal and SHIP program requirements .
( 16) Loans shall be provided for periods not exceeding 30 years, except for deferred payment
loans or loans that extend beyond 30 years which continue to service eligible persons.
( 17) Rental Units constructed or rehabilitated with SHIP funds shall be monitored at least
annually for 15 years for compliance with tenant income requirements and affordability
requirements or as required in Section 420 . 9075 (3 )(e)
(18) The Plan meets the requirements of Section 420-907- 9079 FS, and Rule Chapter 67 -37 FAC,
and how each of those requirements shall be met.
( 19) The provisions of Chapter 83-220, Laws of Florida vl� has or has not
been implemented. `
Witness Chief Elected Official or desi ee-
Arthur R. Neuberger, Chairman
Board of County Commissioners
Witness Type Name and Title
April 4 , 2006
Date
OR
Attest: Jeffrey K. Barton,
Clerk of the Circuit Court
(Seal)
2
October 2003
Exhibit E
RESOLUTION NO 2006 -
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN
RIVER COUNTY , FLORIDA APPROVING THE COUNTY ' S REVISED LOCAL
HOUSING ASSISTANCE PLAN FOR FY 2006 - 2007 , 2007 - 2008 , AND 2008 -
2009 ,
WHEREAS , Chapter 420 , Florida Statutes , describes the State
Housing Initiative Partnership Program ( SHIP ) , and states that the
principal objective of that program is to increase the amount of
affordable housing within the State of Florida ; and
WHEREAS , on April 6 , 1993 , the Indian River County Board of
County Commissioners approved ordinance number 93 - 13 , establishing
the county ' s first Local Housing Assistance Program ; and
WHEREAS , the current Local Housing Assistance plan expires on
June 30 , 2009 ; and
WHEREAS , the current Local Housing Assistance Plan adequately
addresses the county ' s affordable housing needs ; and
WHEREAS , the Florida Housing Finance Corporation recently
published new maximum purchase price amounts for Indian River
County ; and
WHEREAS , Indian River County recognizes that , to use the new
maximum purchase price amounts in its SHIP program , the county must
amend its local housing assistance plan to incorporate those
revised maximum purchase price amounts ; and
WHEREAS , on October 24 , 2006 , the Board of County
Commissioners considered a revised Indian River County Local
Housing Assistance Plan for FY 2006 - 07 , FY 2007 - 08 , and FY 2008 - 09 .
1
Exhibit E
RESOLUTION NO 2006 -
NOW THEREFORE , BE IT RESOLVED by the Board of County Commissioners
of Indian River County , Florida that :
Section 1 .
The above recitals are ratified in their entirety
Section 2 .
The attached Indian River County Local Housing Assistance Plan
for FY 2006 - 2007 , 2007 - 2008 , and 2008 - 2009 is hereby approved
by the Board of County Commissioners . The County ' s Local
Housing Assistance plan is a countywide plan and covers the
unincorporated county as well as all municipalities within the
county .
Section 3 .
The Board of County Commissioners directs staff to submit two
copies of the Indian River County Local Housing Assistance
Plan to the Florida Housing Finance Corporation by certified
mail . A minimum of one of the two copies shall bear the
original signature of the Board of County Commissioners
Chairman .
Section 4 .
The county has determined that 5 % of SHIP funds is
insufficient to administer the program . The county shall
continue utilizing ten percent ( 10 % ) of the state SHIP
allocation for administration of the SHIP Program .
2
Exhibit E
RESOLUTION NO 2006 -
Section 5 .
The county ' s maximum assistance from SHIP funds shall be
seventy thousand dollars ( $ 70 , 000 . 00 ) per unit ; average
assistance will be thirty - five thousand dollars ( $ 35 , 000 . 00 )
per unit .
The following table indicates the average and maximum SHIP
funds allowable per unit for each strategy .
STRATEGY AVERAGE LOAN MAXIMUM LOAN
AMOUNT ( $ ) AMOUNT ( $ )
Impact Fee Grant 13 , 000 . 00 20 , 000 . 00
Impact Fee Loan 13 , 000 . 00 20 , 000 . 00
Downpa ent / Closing Cost Loan 35 , 000 . 00 50 , 000 . 00
Rehabilitation Loan 40 , 000 . 00 50 , 000 . 00
Rehabilitation Grant 40 , 000 . 00 50 , 000 . 00
Land Acquisition Loan 40 , 000 . 00 50 , 000 . 00
Emergency / Disaster Repair Grantl 12 , 000 . 00 1 15 , 000 . 00
Section 6 .
Consistent with Revenue Proclamation 2006 - 17 dated March 2006 ,
the maximum purchase price for Indian River County is hereby
established as $ 253 , 125 . 00 for new or existing homes and
condominiums .
The foregoing resolution was offered by Commissioner
and seconded by Commissioner and being
put to a vote , the vote was as follows :
3
Exhibit E
RESOLUTION NO 2006 -
Chairman , Arthur R . Neuberger
Vice Chairman , Gary C . Wheeler
Commissioner , Wesley S . Davis
Commissioner , Thomas S . Lowther
Commissioner , Sandra L . Bowden
The Chairman thereupon declared the resolution duly passed and
adopted this 24th day of October 2006 .
Board of County Commissioners
of Indian River County
By :
Arthur R . Neuberger , Chairman
Attest by :
Jeffrey K . Barton , Clerk
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY
BY :
William G . Collins , II
County Attorney
F : \ Co=unity Development `.. Users '\, SH 1 P `, NSVD FY DOCS `, FY2006 - 2007 `.. R.esollt ion No . 2006 -
Rev _ sed . doc
4
Exhibit F
STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
INFORMATION SHEET
LOCAL GOVERNMENT: Indian River County, Florida
CHIEF ELECTED OFFICIAL: Arthur R. Neuberger, Chairman, Board of County Commissioners
ADDRESS : 1840 25h Street Vero Beach FL 32960
SHIP ADMINISTRATOR: Sasan Rohani, Chief Long Range Planning
ADDRESS : 1840 25 h Street Vero Beach FL 32960
TELEPHONE: (772) 226- 1250 FAX: (772) 978 - 1806
EMAIL ADDRESS : Srohani&ircgov com
ADDITIONAL SHIP CONTACTS : Diane Pickhardt, Housing Coordinator
ADDRESS : 18.40 25" Street, Vero Beach, FL 32960
EMAIL ADDRESS : Dnickhardt(ir iregov. com
INTERLOCAL AGREEMENT: YES/NO (IF yes, list other participants in the inter-local agreement) :
The following information must be furnished to the Corporation before any funds can be disbursed .
LOCAL GOVERNMENT EMPLOYER FEDERAL ID NUMBER: 59-6000674
MAIL DISBURSEMENT TO : Board of County Commissioners Indian River County
ADDRESS : — - 1840 25a' Street, Vero Beach, FL 32960 .
ORIF YOUR FUNDS ARE ELECTRONICALLY TRANSFERRED PLEASE COMPLETE THE ATTACHED FORM:
NO CHANGE FROM PREVIOUS ELECTRONIC FORM SUBMITTED.
Provide any additional updates the Corporation should be aware of in the space below:
Please return this form to: SHIP PROGRAM MANAGER, FHFC 227 N. BRONOUGH ST, STE 5000
TALLAHASSEE, FL 32301 Fax: (850) 922-7253
` EXHIBIT t
ASSETS
A, Assets That Should Be Considered Ile Assets That Should Not, Be Cousidered
L Savings accounts and the overage &mouth balance 1 . Necessary personal property, except as aotld in 101
of checking accounts.
2. Stocks, bonds, savings certi6cata, money market 2, laterest In Indian trust lands,
funds, and other investment secountL 3. Assets that are a Part of an active business or
farming operation, (Note: Rental properties are
. 3. Equity in real property or other capital considered prrmaitl assets unless real estate is the
investmeats. Equity Is the estimated current appliuses main oempation,)
market value of the asset less the onpsid balance on
all )oaas secured by the asset and reasonable costs e. Assets Not accessible to the family and that provide
(such as broker fees) that would be incurred in no Income for the family. For example, an abused
selling the asset. Under HOME sad SHIP, equity spouse who legally and jointly owns a house but ( 1 )
in the family's primary residence is not considered does not live in the house; (2) receives no income
for home owner repair programs, from ownership of the house, and (3) has no ability
to sell the boom
4. The value of land, in excess of land allowable for
housing production is an asset (SHIP Program S. Vehicles specially equipped for the handiapped.
ONLY).
6. Equity in owner-occupied cooperation and
S. Cash value of trusts that are available to the manufactured homy in which the family lives.
household.
Z Assets held is Applicants ' name but which are
6. IRA. Keogh, and similar retirement savings actually owned by someone else.
accounts, even though withdrawal would result in a
penalty. a. Asset and income from asset accrue to someone
else.
7. Contributions to company retirement/pension b. The other person is responsible for paying taxes
Ponds that can be withdrawn without retiring or on incomes
terminating employment This amount would be C- Not to be confused with joint ownership . -
reduced by any penalty for early withdrawal. -
8. Assets that, although owned by more than one a Cash value of life insurance policies.
person , allow unrestricted access by the applicant.
9. Lump-sum receipts, such as inheritances, capital
gains, lottery winnings, insurance settlements, and
other claims. -
10. Personal property held as an investment such as
gems, jewelry, coin collections, antique ars, etc.
11 . Assets disposed of for leu than fair market value
during two years preceding certification or
recertification .
OS
Julys t 990 Ptwemas o+esP
EXHIBIT H
ANNUAL INCOME INCLUSIONS ANNUAL INCOME EXCLUSIONS
ANNUAL INCOME INCLUSIONS DEFINED UNDER THE MOST COMMON TYPES OF EXCLUDED ANNUAL
HUD 24 CFR SECTION 5 . 609(B) ARE: INCOME:
• The gross amount (before any payroll deductions) • Income from employment of children (including
of wages, salaries , overtime pay, commissions , foster children) under the age of 18 years;
fees, tips and bonuses, and any other compensa-
tion for personal services received by all eligible ' Payments received for the care of foster children
household members ; or adults;
• The net income from the operation of a business • Lump-sum additions to family assets , like
or profession;
inheritances or insurance payments;
• Reimbursement for the cost of medical expenses
• Interest, dividends, and other net income of any for any family member;
kind from real or personal property;
• Income of a live-in aid;
• The full amount of periodic amounts received
from Social Security, annuities, insurance policies, ' The full amount of student financial assistance
retirement funds , pensions , disability or death paid directly to the student or to the educational
benefits; institution ;
• The special pay to a family member serving in
• Payment in lieu of earnings, such as unemploy- the Armed Forces who is exposed to hostile fire;
ment and disability compensation , worker's
compensation and severance pay; • Income from HUD training programs ;
• 'V�7elfare or other need-based payments to families • Temporary, nonrecurring or sporadic income
or individuals that are made under programs (iacludi ng gy�s) ;
funded separately, or jointly by federal, state or
local governments; • Reparation payments paid by a foreign govern -
ment to persons who were persecuted during the
• Periodic and determinable allowances, such as Nazi era;
alimony and child support payments , and regular • Income from earnings in excess of $480 for each
contributions or gifts received from organizations full-time student 18 years or older (excluding
or from persons not residing in the dwelling; and, the head of household and spouse);
• All regular pay, special pay and allowances of a • Adoption assistance payments in excess of $480
member of the Armed Forces: per adopted child;
• Deferred payments received in a lump sum from
SS or SSI;
• Refunds or rebates for property taxes paid on the
dwelling unit; or
• Services/equipment needed to keep a develop-
mentally disabled family member at home,
FHC/FHFC Revised June 2005 PROW ADMINISTRATION 0 Page 17
MENNEN
Exhibit I
DEFINITIONS
All definitions and terms provided in Rule Chapter 67 - 37 . 002 , Florida
Administrative Code ( FAC ) , and the State Housing Initiatives Partnership
Program Rules , as amended , shall apply to the terms used in this Plan .
1 . Affordable Housing : Housing occupied by a household paying housing
expenses which do not exceed 308 of the household ' s gross income . Where
a first mortgage lender is satisfied that the household can afford
mortgage payments that exceed the 308 benchmark , such housing may be
considered affordable as lona as the total debt to income ratio does
not exceed 418 for very low and low income households and 458 for
moderate income households . Monthly housing cost for owner - occupied
housing shall include mortgage principal and interest , taxes , and
insurance . Monthly housing cost for renter - occupied housing shall
include contract rent . However , it is not the intent to limit a
household ' s ability to devote more than 308 of its income for housing .
Programs and policies of this Plan with regard to affordable housing
shall be limited to those households in the very low- ( less than 508 of
median income ) , low ( 51 - 808 of median ) and the moderate- ( 81 - 1208 of
median ) income groups .
2 . Annual Report : The annual summary and review report analyzing and
listing the accomplishments of the Indian River County Local Housing
Assistance Program provided on forms mandated by the FHFC .
3 . Assistance Strategy ( Strategy ) : A method utilized by the Indian River
County Local Housing Assistance Program to provide assistance to
eligible sponsors in order to encourage the provision of eligible
housing for eligible persons in Indian River County .
4 . Draw ( s ) : A partial payment of a larger , cumulative sum of funds .
5 . Encumber Funds ( Encumbrance of Funds ) : The process of committing
available funds allocated through the Indian River County Local Housing
Assistance Program Loan Review Committee to an eligible household or an
eligible sponsor by approving and setting aside funds for the purchase
or rehabilitation of a housing unit .
6 . Essential Service Personnel : Means persons in need of affordable
housing who are emploved in occupations or professions , such as Law
Enforcement , Fire and Emergency Services , Public Administration ,
Education , Health Care , Public Utilities , and similar fields , which are
considered essential services . - -
7 . Housing Code Inspection : An inspection of an existing or rehabilitated
housing unit by a Building Department Inspectors ) or other authorized
inspector ( s ) , whereby compliance of the unit with current building and
safety code standards is evaluated .
8 . Indian River County Local Housing Assistance Plan : The document
adopted by the Indian River County Board of County Commissioners which
provides the operating guidelines , procedures , and strategies of the
Indian River County Local Housing Assistance Program .
9 . Indian River County Local Housing Assistance Program : The program
established by the Indian River County Board of County Commissioners
which distributes funds contained within the Indian River County Local
Housing Assistance Trust Fund in order to encourage the provision of
affordable eligible housing for eligible persons in Indian River
County .
Exhibit I
10 . Indian River County Local Housing Assistance Program Loan Review
Committee : The committee which reviews submitted applications for
Indian River County Local Housing Assistance Program participation
after said applications have satisfied an initial application review
conducted by Community Development Department staff or a third party
entity identified by contract to conduct application reviews . The
Committee shall consist of three members : the Indian River County
Community Development Director or his designee , a financial institution
representative or his or her alternate , a member of the Indian River
County Board of County Commissioners or his or her designee , who shall
serve as chairman of the Loan Review Committee .
11 . Indian River County Local Housing Assistance Trust Fund : The fund
created by the Indian River County Board of County Commissioners which
holds funds received from the State of Florida SHIP Program and other
local sources for distribution through the Indian River County Local
Housing Assistance Program .
12 . "Low- income person" or "low- income household " : means one or more
natural persons or a family that has a total annual gross household
income that does not exceed 80 percent of the median annual income
adjusted for family size for households within the metropolitan
statistical area , the county , or the non -metropolitan median for the
state , whichever amount is greatest .
13 . Moderate Income Household : "Moderate - income person" or "moderate -
income household" : means one or more natural persons or a family that
has a total annual gross household income that does not exceed 120
percent of the median annual income adjusted for family size for
households within the metropolitan statistical area , the county , or the
non -metropolitan median for the state , whichever is greatest .
14 . "Very- low income person" or "very- low income household" : means one or
more natural persons or a family that has a total annual gross
household income that does not exceed 50 percent of the median annual
income adjusted for family size for households within the metropolitan
statistical area , the county , or the non -metropolitan median for the
state , whichever is greatest .
FXommunity Development\Users\SHIP\NEW FY DOCSTY2006-2007\Exhi6it I LHAP.doc