HomeMy WebLinkAbout1998-097 f
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RESOLUTION NO 98- 97
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN
RIVER COUNTY, FLORIDA SUPPORTING THE COMUNITY INITIATIVES
DEVELOPMENT CORPORATION'S PROPOSAL TO BUILD A 100 UNIT
MODERATM INCOME HOUSINo PROJECT WITHIN INDIAN RIVER COUNTY.
WHEREAS, the county population has increased from 90,208 in
1990 to 106,675 in 1998, and it is projected to increase to 154,200
in 2020; and
WHEREAS, this population growth creates a need for additional
housing in general and additional moderate income housing in
particular; and
WHEREAS, the Community Initiatives Development Corporation
(CIDC) , a non-profit Corporation, is planning to construct an
li affordable housing project consistingof
approximately 100 three
bedroom, two bath housing units within Indian River County; and
WHEREAS, the CIDC indicated that the proposed units will be
available on a "lease to own" basis to individuals who meet standard
mortgage underwriting standards with the exception of not having
sufficient funds for a downpayment; and
WHEREAS, the CIDC indicated that the project will be financed
and owned during the lease period by the Community Initiatives
Development Corporation, of Hudson, New York; and
WHEREAS, financing will be provided through the sale of
taxable bonds, unconnected to the County; and
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WHEREAS, the County is not financially or otherwise connected
to this project; and
WHEREAS, the County has not received a formal application nor
detailed plans for the l:,rojecl and therefore cannot endorse the
project design nor location, but has determined that the program as
described by the applicant would benefit Indian River County; and
WHEREAS, the CIDC needs this resolution of support to provide
proof to the IRS that CIDC is fulfilling its charter purpose by
lessening the burdens of local governments.
NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners
of Indian River County, Florida that:
Section 1.
The Board of County Commissioners supports the concept of the
program proposed by CIDC to construct a lease - to - own
affordable housing project for low and moderate income persons
in the county.
Section 2.
The Board of County Commissioners hereby declares that the
county, through this resolution, is not approving the project
design, location nor endorsing the project management.
Section 3.
The Board of County Commissioners declares that the Board is
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not associated with and is not liable for the sale of any
taxable bonds associated with this project.
Section 4.
This resolution will not bind the County to provide any
financial support to the project.
The foregoing resolution was offered by Commissioner Eggert ,
and seconded by Commissioner Macht and being put to a vote,
the vote was as follows:
Chairman, John W. Tippin aye
Vice Chairman, Kenneth R. Macht aye
Commissioner, Caroline D. Ginn nay
Commissioner, Carolyn K. Eggert aye
Commissioner, Fran B. Adams aye
The Chairman thereupon declared the resolution duly passed and
adopted this 22nd day of September, 1998.
Board of County Commissioners
of Indian River County
ohn W. Tiobi , airman
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Attest by;.
Jeffrey K. Barton,
__.... . . _
C.
APPROVED AS-'TO FORM AND LEGAL SUFFICIENCY
BY: - ( -t`wf
William G. Collins, II
Deputy County Attorney
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Admin.
Legal
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Risk Mgr
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