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HomeMy WebLinkAbout2020-088RESOLUTION NO. 2020- 088 A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, DELEGATING TO THE COMMUNITY DEVELOPMENT DIRECTOR OR HIS DESIGNEE, AUTHORITY TO ENDORSE INSURANCE CHECKS RELATING TO COUNTY HOUSING PROGRAMS SUCH AS SHIP HOMES AND THE NEIGHBORHOOD STABILIZATION PROGRAM. WHEREAS, Indian River County has various housing programs such as the State Housing Initiative Partnership (SHIP) Program and the Neighborhood Stabilization Program (NSP) in which mortgage documents require that when funds are loaned to participants in these programs, the participant must maintain homeowner insurance and name Indian River County as a mortgagee in their policy; and WHEREAS, when such a participant has a need to file a claim under their homeowner's policy, the insurance company issues a check made payable to the homeowner and the mortgagees listed on the policy; and WHEREAS, all mortgagees listed on insurance checks are required to endorse same before the funds are available to the participant for repairs; and WHEREAS, endorsement of an insurance check is an administrative function that can be delegated by authority of the Board of County Commissioners to the Community Development Director or his designee; and 1 F:\Httorney\Nancy\DOCS\RES\Reso autho cdd to execute SHIP ins. checks 2020.doc RESOLUTION NO. 2020- 088 WHEREAS, in the instance where Indian River County is named other than a senior lender, the Community Development Director or his designee would only endorse insurance checks after a finding that the senior lender will open a proper escrow account, deposit the insurance funds into that escrow account, and disburse the necessary funds to the proper party only after inspections have been made determining that the work has been done and/or receipts have been submitted and/or releases obtained. If the senior lender will not set up an escrow account, the Community Development Director for Indian River County will set up such escrow account, deposit said escrow funds into it, and disburse the necessary funds to the proper party only after inspections have been made determining that the work has been done and/or receipts have been submitted and/or releases obtained; and WHEREAS, in the instance where Indian River County is named as the senior lender, the Community Development Director for Indian River County will set up such escrow account, deposit said escrow funds into it, and disburse the necessary funds to the proper party only after inspections have made determining that the work has been done and/or receipts have been submitted and/or releases obtained; and WHEREAS, if any participant objects to having repairs done but merely wants the money, the Community Development Director or his designee will endorse such insurance check only if the County loan and interest will be repaid with the proceeds, 2 F: Attorney\Nancy\DOCS\RES\Reso autho cdd to execute SHIP ins. checks 2020.doc RESOLUTION NO. 2020- 088 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that the above recitals are affirmed, and the Indian River County Community Development Director or his designee is hereby delegated authority to endorse insurance checks pertaining to repair work on County Housing programs such as, but not limited to, SHIP homes and the NSP in the instances recited above. The foregoing resolution was moved for adoption by Commissioner Joseph E. .Flescher, and seconded by Commissioner Tim Zorc , and, upon being put to a vote, the vote was as follows: Chairman Susan Adams AYE Vice -Chairman Joseph E. Flescher AYE Commissioner Tim Zorc AYE Commissioner Peter D. O'Bryan AYE Commissioner Bob Solari ABSENT The Chairman thereupon declared the resolution duly passed and adopted this 2othday of October, 2020. ATTEST: Jeffrey R. Smith, Clerk of Court BOARD • OUNTY CO ISSI OF I ' IAN RI R COU and Comptroller O.5A/t4A,L6aa,;� Deputy Clerk Approved as to form and legal sufficiency: By: ylan Reingold, County Attorney 3 F:\Attorney\Nancy\DOCS\RES\Reso autho cdd to execute SHIP ins. checks 2020.doc usan Adams, Cfs;-