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HomeMy WebLinkAbout2006-046RESOLUTION NO 2006-046 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA APPROVING THE COUNTY'S 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 June 30, 2006; and WHEREAS, the current Local Housing Assistance Plan adequately addresses the county's affordable housing needs; and WHEREAS, on April 4, 2006, the Board of County Commissioners considered a proposed Indian River County Local Housing Assistance Plan for FY 2006-07, FY 2007-08, and FY 2008-09. on 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 1 RESOLUTION NO 2006-046 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. 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 ($35,000.00) per unit. RESOLUTION NO 2006- 046 The following table indicates the average and maximum SHIP funds allowable per unit for each strategy. STRATEGY AVERAGE LOAN AMOUNT ($) MAXIMUM LOAN AMOUNT ($) Impact Fee Grant 13,000.00 20,000.00 Impact Fee Loan 13,000.00 20,000.00 Downpayment/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 Grant 12,000.00 15,000.00 Section 6. The maximum purchase price for Indian River County is hereby established as $249,584.00 for new homes and condominiums and $298,448.00 for existing homes and condominiums per purchase price study utilizing the county's property appraisers office data. The foregoing resolution was offered by, Commissioner Lowther , and seconded by Commissioner Davis , and being put to a vote, the vote was as follows: Chairman, Arthur R. Neuberger g Vice Chairman, Gary C. Wheeler Aye Commissioner, Wesley S. Davis Commissioner, Thomas S. Lowther Commissioner, Sandra L. Bowden 3 Ay e Aye Ay e RESOLUTION NO 2006- 046 The Chairman thereupon declared the resolution duly passed and adopted this 4th day of April 2006. Board of County Commissioners of Indian River ;County By: Arthur R. NeUibe •er, Chair Attest by: « C-' P v.'Jeffrey K. Barton, Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY BY: uU' William G. Collins, II County Attorney F:\Community Development\Users\SHIP\NEW FISCAL YEAR DOCS\Resolution No. 2006.doc 4 CERTIFICATION TO FLORIDA HOUSING FINANCE CORPORATION Name. of Local Government: Indian River County, Florida Exhibit D (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 Government Comprehensive Plan, or that an amendment to the Local Government 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 permitted 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 / has or has not been implemented. Witness Chief Elected • ficial or de Arthur. R.Neuberger,. Chaiinian Board of.Courity=Conirnissioners Witness Type Name and Title April 4, 2006 Date OR Attest: Jeffrey K. Barton, Clerk of the Circuit Court (Seal) October 2003 TRRATEGIES SHIP LOCAL HOUSING ASSISTANCE PLAN (LHAP) FY 2006-2007 FY 2007-2008 FY 2008-2009 TABLE OF CONTENTS INTRODUCTION Page 1 I. PROGRAM DESCRIPTION A. Municipalities Covered by the Plan 1 B. Purpose of the Program 1 C. Fiscal Years Covered by the Plan 1 D. Governance 1 E. Local Housing Partnership 1 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 17 Rehabilitation Loan Summary Page 20 Rehabilitation Loan or Grant Flow Chart 21 -i- F. Rehabilitation Grant 23 Rehabilitation Grant Summary Page 26 G. Emergency/Disaster Repair Grant 27 Emergency/Disaster Repair Grant Summary Page 30 III. PROGRAM ADMINISTRATION AND IMPLEMENTATION ACTIVITIES 1. Application Periods 31 2. Application Processing 31 3. IRCLHAProgram Applicant Criteria 32 4. Applicant Review 35 IV. LHAP INCENTIVE STRATEGIES 36 A. Expedited Permitting 36 B. Density Bonus 37 C. Small Lot Subdivision 40 D. Accessory Single -Family Dwelling Units 42 E. Multi -Family Dwelling Units in Conjunction with Commercial Development 43 F. Housing Cost Impact Review Process 44 G. Surplus County Owned Land Inventory 44 H. Zero Lot Line Subdivision 44 I. Establishing/Utilizing SHIP Program 45 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 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, lax7ers, builders and developers, real estate professionals, advocates for low- income persons, and community groups. 1 F. Leveraging: Chapter 67-37.007(1) (b) (c) , F.A.C. and Section 420.9075(1)(a) and (1) (b3, 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 30% 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. 0. 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. 3 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) • d. Maximum award: 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. 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 50 Years for renter occupied units as match of other State and Federal Grants. 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. 4 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, 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. Renter occupied units are eligible only if the County Grant is a match for another State or Federal Grant. iii. Impact fee/ capacity charges grants may be given in combination with Rehabilitation Grants. iv. Impact fee/capacity charge grant for rental occupied units is given only when it is a match for another Federal or State Housing Program. 5 Impact Fee/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 or building new rental units with any State or Federal Housing Grant. Funding Source: State Housing Initiatives Partnership (SHIP) Eligible Persons: Assistance: Criteria: 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) 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. Income Eligible Households: VLI the County's median income), LI median income) (not to exceed 50% of (51-80% of County's Property Qualification: Owner -Occupied Renter -Occupied only as match with another State or Federal Housing Program Debt Ratio: N/A Grant Period: 10 Years for owner occupied 50 Years for renter occupied Interest Rate: Zero (0) Repayment Terms: No payment is required except in cases where the assisted owner occupied unit is sold prior to 10 years, refinanced with a cash out, or occupied by someone other than the original grant recipient. 6 Renter occupied units must be kept as affordable housing for at least 50 years; otherwise the entire county grant is due. 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 51-80% 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 the following criteria • 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, or other state and federal housing programs. Non-profit organizations or for-profit developers eligible to 7 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: 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. Rental occupied units are eligible only as a match with another Federal or State Housing Program. iii. Non -Profit organizations can apply for impact fee/capacity charges loans for building affordable housing units for eligible households. iv. For -Profit developers can apply for impact fee/capacity charge loans only when the impact fee/capacity charge loan is a match for another housing program such as the CBDG Program, Home Investments Partnership (HOME), Low Income Tax Credit Program (LITC), State Apartment Incentive Loan Program (SAIL), Multi -Family Mortgage Revenue Bond Program, and other State and Federal Housing Programs. v. Impact fee loans can be given in combination with down payment closing/cost or rehabilitation loans. 8 Purpose: Impact Fee Loan Summary Page 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: Assistance: Criteria: •Very low income persons •Low-income persons •Moderate -income persons 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. 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 Renter -occupied only as match with another State or Federal Housing Program Debt Ratio: N/A Loan Period: Deferred payment loan 50 years for renter occupied units Interest Rate: Zero (0) Repayment Terms: Repayment of the loan amount occurs upon resale of .the assisted unit, refinancing with a cash out, or occupied by someone other than the original loan recipient. 9 Renter occupied units must be kept as affordable housing units for at least 50 years; otherwise the entire county loan is due. C. Downpayment/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 a 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. 10 ii. Housing Unit Classification All housing units shall be owner -occupied single family or condominium residences. Down payment 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%. 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. 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) and other applicable State or Federal Programs. vii. Maximum purchase price is established per 90% of the average purchase price within the county in the last 12 months. • Maximum purchase price for new single-family homes and condos is $249,584.00, and • Maximum purchase price for existing single family homes and condos is $298,448.00 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 Mortgage 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 down payment and rate loan, and original first mortgage closing cost loans up interest rate must be lower than the amount. Any available equity up to the original to 1 point allowed 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 refinancing. allowed No cash out to applicant 12 Purpose: Downpayment/Closing Cost Loans Summary Page 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: Criteria: • $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. 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: Housing Cost to Income Ratio: Total Debt to Income Ratio: Mortgage Loan to Value Ratio: Loan Period: Interest Rate: Repayment Terms: Owner -Occupied 20-30% Not to exceed 41% for VLI & LI Not to exceed 45% for MI Must be 85% or higher for MI group only Deferred payment loan Zero (0) 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 homes and condos: $249,58400 13 Existing homes and condos: $298,448.00 Downpayment/Closing Cost Loan Process Flow Chart Applicant must contact a bank for pre -qualification 1 Applicant must attend a Home -Buyer's Educational Workshop 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 Bank will provide the commitment letter Bank or applicant submits the commitment letter to the County 1 The County's LRC approves the loan Loan Closing 14 D. Land Acquisition Loans a. Summary of the Strategy: To assist very low or low income household's or non-profit sponsors, such as Habitat for Humanity, for the acquisition of vacant lands or vacant residential lots for the purpose of providing eligible housing units for eligible persons. 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, or $200,000.00 per acre for un -subdivided lands with a density of 6 units per acre or higher. 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. 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. Sponsor Selection Criteria: Loans to non-profit organizations will be awarded based on the following criteria: • Ability to proceed with construction • Ability to meet the deadline for expending the funds • Number of units to be built • Percentage of very low income households to be assisted • The length of time the organization has been in Indian River County • Experience in development of affordable housing 15 9T sueoT gsoo buTsoTo/quau1AeduMop ufTM uoT4euTquioo uT uanTb eq ueo sueoT uoT;TsTnboj pue7 • suiezbozd buT snow Tezapag pue auegs zauno pue 'uzezboad puog enuenag abebgaoN ATTuie,3-T;TnN ' (lIKS) uiezbozd UPO anTquaoui queuigzedv agegS ' (Oylz) umabozd 1Tpat3 xey auiooui mot ' (HHOH) dTLjszaugzed squauzcsenui auioH 'utezboad amp auq se uons uiezbozd buTsnou zaugoue zog uogeui e ST SUPOT UOTgTSTnboe pueT au ueuM ATuo SueoT uoTgTsTnboe puWT zo; ATdde ueo saedoTanap IT3ozd-aoa •spTouasnoq e NTbTTa log slTun buTsnou e gepao;;e buTpTTnq to; sueoT uoT;Tsrnboe pueT zog ATdde ueo suoTgPZTuebzo 'Tjozd-uoN •paTdn000-zauMo act TTeus s;Tun buTsnou Tui U0 TqPDT;TSSPID gTun buTSnoH •Aquno3 au: uTLilTM pa;eooT saTgTTedToTunui TTe buTpnTouT 'AqunoD alp uT azatMAue apeur eq Aeui sueoT uoTgTsTnbov pue7 eaav oTudezboa0 •TTT •TT •T :uoT4euizo;uI TeuoTgTPPV •u sngegs gduiaxa xeq £(0)T0S go goozd LT 'saogoeaquoo pasuaoTT Aq pawaogaad aq gsnw Naom uoTTegTTTaeuaa -ETV 'Tenoadde ueoT Aqunoo auk o; aoTad pagaTdwoo Naom uoT;eTTTTgetlaa ao; pep aq ;ou TTTM sueoT uoT;egTTTgeuau 'saTlaadoad TeT;uapTsaa go uoTge;TTTgegaa aog spaepue;s wnwTuTw s,Aqunoo au; go s;uawaaTnbaa auk ilgTM quagsTsuoo papTnoad aq TT eus sueoT uoTgpgTTTqeuau 'suosaad aTgTfTTa Aq Aouedn000 ao; aTgTbTTe s;Tun buTsnou paaTnboe buT4e;TTT0e119a JO buT;srxa Jo buT;e;TTTgegaa uT paaaqunooua ,sop auf go uoTgaod e JO TTP pung oq spTouasnou aTgT6TTa o; sueoT ;saaaquT ou buTpTnoad sagedToTlue weaboadVZOUI auy :squawaaTnbaa ueoq uoT;egTTTgeqau aauPO '6 uoT;eDT3TaaA ;TpatO • UOTJ,e3TgTaaA gassVV • uoTJeoTgTaaA quawAoTdwa • A;TITgT6TTE awooul • eTaa;Tao buTM0TT0g aqn aad uasouo aq TTTM s;ueoTTdde pup 'sTseq paMaTnaa ;saT; Gump gsiT; e uo paseq pamaTnaa aq TTTM suoT1e3TTddV :eTaagTaO uoT.oaTas quaTcToad '4 'awT; Aue qe ueoT au; 3o qunowe aaipua auk Aedaa Aew .quaTdToaa ueoT Guy 'pun; gsnaq buTsnou aTgepaogge s,A;unoo auk uT pagTsodap aq TTTm spun; paan;deoau 'sueoT uoTlegTTTgeuaa JO; agea ;saga;uT ou aq TTTM eaauy 'IuaTdToaa TeuTbTao au; ueup Gawp auoauios Aq paTdn000 to 'qno useo e u;TM paoueuTgaa 'pros sT ;Tun buTsnoq aTgTbTTa auk awT; au; qe SIn000 1unowe ueoT aaTque auk go quawAedaa Agaaagm sueoT juaui/ d paaaagap eae sueoT uoT1e1TTTgeuau :gInegaa 'aangaeoau 'swaay 'a ';Tun §UTsnoU-wnTuTwopuoo e JO ATTweJ aTbUTS Gad 00'000'0S$ :paaoxa ;ou TTeus ueoT uoTge;TTTgeuaa e aog paPMP Aaegauow wnwTxew Guy (awoouT ueTpaw Jo %0ZT-T8 uaaM;aq) suosaad awooul-a;eaapow (awoouT uwTpaw go %08 -TS uaaMgaq) suosaad awooul-Morj Jo %OS paaoxa (awoouT ueTpaw o: qoN) suosaad awooul-MoZ AaaA • : paeMe UOUTXPW 'p :panaas aq oq saTaobaTeO awoouI 'o 6002-8002 Ad '8002-LOOZ Ad 'LOOZ-9002 Ad :paaanoO saeaA TeosTa 'sueoT sgsoo buTsoTo/quawAed uMop qqTm uoT;ounCuoo uT sgTun buTsnou paTdn000 aauMo paaTnboe go not;e;TTTaeuaa Jo s;Tun buTsnou paTdn000-aeumo buT;sTxa LuTlegTTTaeuaa uT paaaqunooua gsoo au; go uoTJaod e JO TIP pun; oy 'a :Abageags au; go Aaewwns 'e strew/ uoT4v4TIigegeg •Z designated inspector and local housing assistance program staff. 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 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, 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. 19 Purpose: Rehabilitation Loan Summary Page 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: Assistance: Criteria: • Very low-income persons • Low-income persons • Moderate -income persons The County may provide up to $50,000 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. 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: Debt Ratio: Loan Period: Interest Rate: Repayment Terms: 20 Owner -Occupied N/A Deferred payment loan Zero (0) 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. Rehabilitation Loan or Grant Flow Chart Applicant submits a completed LHAP application to the County. This must include a list of rehabilitation work 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 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 to 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 reviews the contractors' proposals If the proposals are acceptable, the applicant will sign the bid 1 The County's LRC reviews and approves the loan or grant The County prepares mortgage documents and closes the loan or grant The County will send a notice to proceed to the contractor(s) and copy to applicants and LHAP inspector The LHAP Inspector conducts a pre -construction conference as needed with the contractor on site 21 Contractor pulls permits and completes the job per the proposal Inspector from appropriate jurisdictions building department inspect completed work 1 Inspection finalized (county inspector approves the job and owner satisfaction letter obtained) 1 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 2007-2008, FY 2008-2009 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. 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 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 r 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 dry wall damaged from a leak • Replacement of floor and carpeting damaged from a leak • Replacement of doors and windows, if in poor condition • Replacement of rotted siding • Replacement of bathroom tubs, lavatories, and sinks, as needed to bring the units to a safe and sanitary standard • Repairs to make a house accessible for a disabled member of a household • Repair or replacement of septic tank, lift station, drainfield 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 • Rehabilitation work within any future target areas established by the Board of County Commissioners for concentrated housing and neighborhood improvement activities • Energy Gauge Rating and related expenses such as insulation • Installation of window shutters 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 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. 24 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. Rehabilitation grants can be given in combination with impact fee/capacity charge grants. 25 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: Criteria: The County may provide up to $50,000 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. 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: Debt Ratio: Loan Period: Interest Rate: Repayment Terms: 26 Owner -Occupied N/A 10 years Zero (0) No payment is required except in cases where the assisted unit is sold prior to 10 years, refinanced with a cash out, or occupied by someone other than the original grant recipient. 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. g. • Emergency or disaster needs • Income Eligibility 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. 27 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. 28 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. 29 Purpose: Emergency/Disaster Repair Grant Summary Page 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: Assistance: Criteria: • Very Low -Income persons • Low -Income persons The County may provide up to $15,000 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. 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 Period: 10 years Interest Rate: Zero (0) Repayment Terms: No payment is required except in cases where the assisted unit is sold prior to 10 years, refinanced with a cash out, or occupied by someone other than the original grant recipient. 30 III. 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. 31 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. 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) . 32 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 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. 33 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 be reviewed by the county's building officials to determine the condition of the home. 34 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. 35 IV . 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 (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, 3.5, 4.4, 4.6, 4.7, 4.9, and 9.1) Following are citations from the county's Comprehensive Plan and Land Development Regulations (LDRs) 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 policyand 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. 36 - 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 (VLI) and Low Income (LI) Affordable Units as Percentage of Project's Total Units Density Bonus (Percent increase in allowable units) Additional Density Bonus for Providing Additional Buffer and Landscaping based on one of the -following options (percent increase in allowable units) Range of Possible Density Bonus Percentage (Percent increase in allowable units) Option I Option II Material equal to a 10' wide Type C buffer* with 6' opaque feature along residential district boundaries and 4' opaque feature along roadways Material equal to a 20' wide Type B buffer* with 6' opaque feature along residential district boundaries and 4' opaque feature along 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. 37 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 grossmedian 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 verifiedto be either a very low, or low income household, then the selling household shall not be required to provide any payment. 38 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: 39 Very Low Income (VLI) and Low Income (LI) Affordable Units as Percentage of Project's Total Units Density Bonus (Percent increase in allowable units) Additional Density Bonus for Providing Additional Buffer and Landscaping based on one of the following options (percent increase in allowable units) Range of Possible Density Bonus Percentage (Percent increase in allowable units) Option I Option II Material equal to a 10' wide Type C buffer* with 6' opaque feature along residential district boundaries and 4' opaque feature along roadways Material equal to a 20' wide Type B buffer* with 6' opaque feature along residential district boundaries and 4' opaque feature along 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: i Conform to the standard applicable size and dimension criteria of the respective zoning district in which the project is located; or 40 ii. 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 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 > 55 & <60 ••••60 & <65 • 65 & <70 30 27 24 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 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. A buffer maintenance easement, having a minimum width of ten (10) feet, shall be provided along the perimeter of the small lot subdivision between the small lot subdivision and all abutting residentially designated properties, except where the proposed small lot subdivision abuts another approved small lot subdivision or abuts an older, "grandfathered -in" subdivision where fifty (50) percent or more of the lots have been developed as fifty -foot wide single-family lots. Where required, the buffer easement shall comply with the following criteria: i. A six-foot opaque buffer improvement shall be provided within the easement and shall consist of one of the following: Existing and/or planted vegetation A combination of a landscaped berm and vegetation. 41 A wall or opaque fence. Any other buffer improvement(s) allowed under the provisions of section 926.08 of the land development regulations. The buffer improvement(s) shall be located within a buffer easement(s) as designated on the small lot subdivision plat. Said easement(s) shall be 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. ii. No structure(s), other than those related to buffering, drainage or utilities shall be located in the buffer easement. 7. 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 plat. Language shall be noted on the final plat to the effect that specially -approved setbacks are in effect on the lots. 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-2, 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. 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. 42 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 USE - Section 911.10 of the LDRs COMMERCIAL DISTRICTS 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 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 43 (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 county regulations 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 - Housinq 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. 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. 44 (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 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 45 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 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. 46 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 HDGC 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. 47 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 f. 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 Salaries and Fringe Benefits Office Expenses Travel Advertising and Outreach Total Item Salaries and Fringe Benefits Office Expenses Travel Advertising and Outreach Total Item Salaries and Fringe Benefits Office Expenses Travel Advertising and Outreach Total 48 Fiscal Year 2006-2007 $107,030.00 20,000.00 5,000.00 3,000.00 $135,030.00 Fiscal Year 2007-2008 $107,030.00 20,000.00 5,000.00 3,000.00 $135,030.00 Fiscal Year 2008-2009 $107,030.00 20,000.00 5,000.00 3,000.00 $135,030.00 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 2007-2008 (July 1, 2007 - June 30, 2008) Fiscal Year 2006-2007 FY 07/08 FY 08/09 # of Months Elapsed 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 Availability of Funds X Application Period X Start Program Year X Annual Report 9/15/ 07 9/15/ 08 and 9/15/ 09 Mid -Year Review/ Adjustments 12/06 End -Year Review/ Adjustments 6/ 07 6/08 6/09 Encumbrance Deadline 6/30/ 08 Expenditure Deadline 6/30/ 09 Final Program Review 6/30/ 09 Fiscal Year 2007-2008 (July 1, 2007 - June 30, 2008) 49 Fiscal Year 2007-2008 FY 08/09 FY 09/10 # of Months Elapsed 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 Availability of Funds X Application Period X Start Program Year X Annual Report 9/15/ 08 9/15/09 and 9/15/10 Mid -Year Review/ Adjustments 12/ 07 49 End -Year Review/ Adjustments Fiscal Year 2008-2009 FY 09/10 FY 10/11 # of Months Elapsed 1 2 3 4 5 6 7 8 6/ 08 6/09 6/10 Encumbrance Deadline 24 36 Month June J A S 0 N D J F M 6/30/ 09 M Expenditure Deadline Advertise Availability of Funds X 6/30/10 Final Program Review Application Period X 6/30/10 Fiscal Year 2008-2009 (July 1, 2008 - June 30, 2009) • 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:\Community Development\Users\SHIP\NEW FISCAL YEAR DOCS\LHAP2006-2007.doc 50 Fiscal Year 2008-2009 FY 09/10 FY 10/11 # of Months Elapsed 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 Availability of Funds X Application Period X Start Program Year X Annual Report 9/15/ 09 9/15/ 10and 9/15/ 11 Mid -Year Review/ Adjustments 12/ 08 End -Year Review/ Adjustments 6/09 6/10 6/10 Encumbrance Deadline 6/30/ 10 Expenditure Deadline 6/30/ 11 Final Program Review 6/30/ 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:\Community Development\Users\SHIP\NEW FISCAL YEAR DOCS\LHAP2006-2007.doc 50 9co 0 m } k ) Fiscal Yr. Closeout: FLORIDA HOUSING FINANCE CORPORATION HOUSING DELIVERY GOALS CHART STRATEGIES FOR THE LOCAL HOUSING ASSISTANCE PLAN FOR STATE FISCAL YEAR: 2006-2007 Name of Local Government: Indian River County ® N r N @ LL 0 0 0 } 0 / .13 0 0 0 $1,500,000.00 } 0 0 ( 0 0 0 0 511 Calculate Constr./Rehab Percent. by adding Grand Total Columns A&B, then divide by Annual Allocation Amt. Percentage Construction/Rehab ( $ @ 00 0.0 $249,584.00 z 15. Maximum Allowable Purchase Price: Z 00 csi\ ci tAr % 8 $1,500,000.00 Projected Program Income: oe Distribution: Total Available Funds: 0 9 0 0 CA 1,1 0 E 0 CO CO $1,379,938.00 Allocation Breakdown E 0 j / E 0 0 3 Moderate Income 2006-07-HDGC-EXH I BITC r. 8 { 8 0 0 }ce112. Distribution: Total Available Funds: 6-2 0 tn 0 0 k 0 co 0 CO $1,379,938.00 Allocation Breakdown Moderate Income ) i 2007-08-H D G C-EXH I B I TC 1 1 a 0 . z EE Fiscal Yr. Closeout: O z0 _0 0 O Q 1 eiW O '' a a O Cr - V � V <1:g Q N o Z Z LL O a , Z oez >• uj G~A Oo¢ = U Q Z O CC OJ Q = a JV LL O O U- C.) V W X Wce +n Name of Local Government: Indian River County M tf1 u"1 N lf1 N M N O Q1 LL 3 'P c o c n g E 0 O 0 0 O O 0 0 0 O O o O O w $1,500,000.00 O O O O O $632,513.00 0 0 LriN w 1 O O O 0 Subtotal 2 (Non -Home Ownership) Administration Fees E O E O E O c E a Percentage Construction/Rehab siy 0 cos ti1 C 'x O O co tR z Maximum Allowable Purchase Price: 0 N to 0 O 0 .Q 8 N 8 0, Projected Program Income: i v ra N 0 a Distribution: Total Available Funds: O 0 O O O C O E $1,379,938.00 Allocation Breakdown Moderate Income Q 0 F- 2008-09-HDGC-EXHIBITC CERTIFICATION TO FLORIDA HOUSING FINANCE CORPORATION Name of Local Government: Indian River County, Florida Exhibit D (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 orcounty 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 Government Comprehensive Plan, or that an amendment to the Local Government 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 permitted 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 been implemented. has or has not Witness Chief Elected Official or designee Arthur R. Neuberger, Chairman Board of County Commissioners Witness Type Name and Title 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 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, 2006; and WHEREAS, the current Local Housing Assistance Plan adequately addresses the county's affordable housing needs; and WHEREAS, on April 4, 2006, the Board of County Commissioners considered a proposed Indian River County Local Housing Assistance Plan for FY 2006-07, FY 2007-08, and FY 2008-09. 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 1 Exhibit E RESOLUTION NO 2006 - 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. 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 ($35,000.00) per unit. 2 Exhibit E RESOLUTION NO 2006 - The following table indicates the average and maximum SHIP funds allowable per unit for each strategy. STRATEGY AVERAGE LOAN AMOUNT ($) MAXIMUM LOAN AMOUNT ($) Impact Fee Grant 13,000.00 20,000.00 Impact Fee Loan 13,000.00 20,000.00 Downpayment/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 Grant 12,000.00 15,000.00 Section 6. The maximum purchase price for Indian River County is hereby established as $249,584.00 for new homes and condominiums and $298,448.00 for existing homes and condominiums per purchase price study utilizing the county's property appraisers office data. The foregoing resolution was offered by Commissioner , and seconded by Commissioner , and being put to a vote, the vote was as follows: Chairman, Arthur R. Neuberger Vice Chairman, Gary C. Wheeler Commissioner, Wesley S. Davis Commissioner, Thomas S. Lowther Commissioner, Sandra L. Bowden 3 Exhibit E RESOLUTION NO 2006 - The Chairman thereupon declared the resolution duly passed and adopted this 4th day of April 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:\Community Development\Users\SHIP\NEW FISCAL YEAR DOCS\Resolution No. 2006.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 25th Street, Vero Beach, FL 3.2960 SHIP ADMINISTRATOR: ADDRESS: Sasan Rohani, Chief, Long Range Planning 1840 25th Street, Vero Beach, FL 32960 TELEPHONE:(772) 226-1250 FAX:(772) 978-1806 EMAIL ADDRESS: Srohani a ircgov.com ADDITIONAL SHIP CONTACTS: ADDRESS: Diane Pickhardt, Housing Coordinator 1840 25th Street, Vero Beach, FL 32960 EMAIL ADDRESS: Dpickhardt@ircgov.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 25th Street, Vero Beach, FL 32960 OR:IF 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 ANNUAL INCOME INCLUSIONS ANNUAL INCOME INCLUSIONS DEFINED. UNDER HUD 24 CFR SECTION 5.609(8) ARE: • The gross amount (before any payroll deductions) of wages, salaries, overtime pay, commissions, fees, tips and bonuses, and any, other compensa- tion for personal services received by all eligible household members; • The net income from the operation of a business or profession; • Interest, dividends, and other net income of any kind from real or personal property; • The full amount of periodic amounts received from Social Security, annuities, insurance policies, retirement funds, pensions, disability or death benefits; • Payment in lieu of earnings, such as unemploy- ment and disability compensation, worker's compensation and severance pay; • Welfare or other need -based payments to families or individuals that are made under programs funded separately, or jointly by federal, state or local governments; • Periodic and determinable allowances, such as alimony and child support payments, and regular contributions or gifts received from organizations or from persons not residing in the dwelling; and, • All regular pay, special pay and allowances of a member of the Armed Forces. H ANNUAL INCOM E EXCLUSIONS THE MOST COMMON TYPES OF EXCLUDED ANNUAL INCOME: • Income from employment of children (including foster children) under the age of 18 years; • Payments received for the care of foster children or adults; • Lump -sum additions to family assets, like inheritances or insurance payments; • Reimbursement for the cost of medical expenses for any family member; • Income of a live-in aid; • The full amount of student financial assistance paid directly to the student or to the educational institution; • The special pay to a family member serving in the Armed Forces who is exposed to hostile fire; • Income from HUD training programs; • Temporary, nonrecurring or sporadic income (including gifts); • Reparation payments paid by a foreign govern- ment to persons who were persecuted during the Nazi era; • Income from earnings in excess of $480 for each full-time student 18 years or older (excluding the head of household and spouse); • Adoption assistance payments in excess of $480 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 PROGRAM ADMINISTRATION ■ Page 17 EXHIBIT G ASSETS s A. Assets ThstShould'Be Considered B. Assets That Should Not, Be Considered ' . 1. Savings accounts and the average 6 -month balance of checking accounts. 1. Necessary personal property, except as noted in 10. 2. Interest in Indian trust lands. 2. Stocks, bonds, savings certificates, money market . funds, and other investment accounts. 3. Assets that are apart of an active business or farming operation. (Note: Rental properties are 3. Equity in real property or other capital investments. Equity is the estimated.current market value of the asset Tess the unpaid balance on considered personal assets sinless real estate is the applicant's main occupation.) a11}oans secured by the asset and reasonable costs (such u broker fees) that would be incurred In selling the asset. Under HOME sod SHIP, equity ie the family's primary residence b not considered for ho'rne owner repair programs. 4. Assets not accessible to the !amity and that provide no income for the family. For example, an abused spouse who legally and jointty owns a house but (1) does not live is the house; (2) receives no income from ownership of the house; and (3) has no ability to sell the house. 4. The value of land, in excess of land allowable for housing production is an asset (SHIP Programs 5. Vehicles specially equipped for the handicapped. ONLY). 6. Equity in owner -occupied cooperation and 5. Cash 'value of trusts that are'aysilable to the household. manufactured hordes in which the family lives. 7. Assets held is applicants' name but which are 6. IRA, Keogh, and similar retirement savings accounts, even though withdrawal would result in a penalty. actually owned by someone else. a. Asset and income from asset accrue to someone else. 7. Contributions to company retirement/pension funds that can be withdrawn without retiring or terminating employment. This amount would be reduced by any penalty for early withdrawal. b. The other person is respensibk for paying taxes on Income. . c. .Not to be confused with joint ownership. 8. Cash value of life insurance policies. 8. Assets that, although owned by more than one person, allow unrestricted access by the applicant. 9. Lump-suni receipts, such asinheritances, 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 less than fair market value during two years preceding certification or recertification. ICF tNCORPORATEO Juty 199e Ineorno Compliance