HomeMy WebLinkAbout2026-011ORDINANCE NO. 2026- 011
AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN
RIVER COUNTY, FLORIDA, ESTABLISHING CHAPTER 308 PART III. CODE OF
ORDINANCES, ENTITLED "THE INDIAN RIVER COUNTY ATTAINABLE HOUSING
TRUST AS A SPECIAL REVENUE FUND'; PROVIDING FOR THE ESTABLISHMENT
OF AN ATTAINABLE HOUSING TRUST FUND; PROVIDING LEGISLATIVE
FINDINGS; PROVIDING PURPOSE AND INTENT; PROVIDING DEFINITIONS;
ESTABLISHING AUTHORIZED REVENUE SOURCES; LIMITING PERMITTED USES
TO LAND ACQUISITION, LAND BANKING, AND CONVEYANCE TO QUALIFIED
FOR PROFIT, AND NONPROFIT HOUSING ORGANIZATIONS; AUTHORIZING UP
TO TEN PERCENT (10%) OF ANNUAL TRUST REVENUES FOR ADMINISTRATIVE
AND PROGRAM SUPPORT COSTS; ESTABLISHING GOVERNANCE AND
ADMINISTRATION BY THE SHIP ADMINISTRATOR SUBJECT TO BOARD
APPROVAL; PROVIDING FOR ADVISORY REVIEW BY THE AFFORDABLE
HOUSING ADVISORY COMMITTEE; PROVIDING FOR AFFORDABILITY
COVENANTS, FINANCIAL CONTROLS, REPORTING, SEVERABILITY, AND AN
EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners of Indian River County, Florida ("Board"),
finds that the availability of safe, decent, attainable, and affordable housing is essential to
the health, safety, welfare, workforce stability, and economic vitality of the community; and
WHEREAS, the County has adopted a Local Housing Assistance Plan ("LHAP") pursuant to
the State Housing Initiatives Partnership Program and a Comprehensive Plan Housing
Element that promote public-private partnerships, long-term affordability, and responsible
stewardship of public resources; and
WHEREAS, escalating land costs continue to present a significant barrier to the
development of affordable and attainable housing within Indian River County; and
WHEREAS, the Board desires to establish a locally controlled funding mechanism to
strategically acquire and convey land to qualified for profit, and nonprofit housing
organizations in order to accelerate housing production while minimizing County
operational and financial risk; and
WHEREAS, the Board further desires to allow voluntary developer contributions associated
with Board -approved incentives or development agreements to support land acquisition for
affordable and attainable housing purposes, without creating any mandatory fee, tax, or
exaction; and
WHEREAS, the Board finds that establishment of the Indian River County Attainable
Housing Trust serves a valid public purpose and advances the goals of the County's
Comprehensive Plan and LHAP;
ORDINANCE NO. 2026- 011
NOW,THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY,FLORIDA:
SECTION 1.Code Section 308 Part III is hereby created to read as follows:
PART III.THE INDIAN RIVER COUNTY ATTAINABLE HOUSING TRUST AS A
SPECIAL REVENUE FUND
Section 308.15.-Title.
This part of chapter 308,the terms and the provisions contained here,shall be known as the
Indian River County Attainable Housing Trust Fund.
Section 308.16.-Purpose and Intent
The purpose of the Trust is to support the development,preservation,and expansion of
attainable and affordable housing through strategic land acquisition,land banking,and
conveyance to qualified for profit,and nonprofit housing organizations.
The Trust is not intended to operate as a loan program,grant program,or construction
financing program.The County's role is limited to site control,and facilitation of for profit,
and nonprofit development partnerships.
Section 308.17.-Definitions
The following words,phrases,and terms shall have the meanings set forth below.To the
extent that such meanings incorporate provisions of Florida Statutes,such meanings are
intended to incorporate the provisions of Florida Statutes,as amended from time to time:
Attainable Housing means housing affordable to households earning up to income limits
established by Board policy.
Affordable Housing Advisory Committee(AHAC)means the committee established pursuant
to County ordinance and applicable Florida law.
Qualified Nonprofit Housing Organization means a 501(c)(3) nonprofit organization,
community land trust,public housing authority,or mission-aligned governmental entity
approved by the Board with demonstrated experience in affordable or attainable housing
development and long-term compliance.
Qualified For Profit Organization means a developer approved by the Board with
demonstrated experience in affordable or attainable housing development and long-term
compliance.
SHIP Administrator means the County employee designated to administer the State Housing
Initiatives Partnership Program and assigned administrative responsibility for the Trust
pursuant to this ordinance.
Voluntary Developer Contribution means a negotiated monetary contribution offered by a
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ORDINANCE NO. 2026- 011
developer in connection with a Board-approved incentive,development agreement,or
alternative development standard and not required as a condition of development approval.
Section 308.18.-Creation of the Indian River County Attainable Housing Trust Fund
As A Special Revenue Fund.
There is hereby created a special revenue fund to be known as the Indian River County
Attainable Housing Trust("Trust").The Trust shall be maintained as a separate and distinct
fund from the State Housing Initiatives Partnership Local Housing Assistance Trust Fund
and all other County funds,and shall be accounted for in accordance with generally
accepted accounting principles and County financial policies.
Section 308.19. -Authorized revenue sources.
The Trust may receive revenues from the following sources,subject to acceptance by the
Board:
(1)Voluntary Developer Contributions.
(2) Board-designated proceeds from the sale or disposition of County-owned property upon
adoption of a public purpose finding.
(3) Grants,donations,interlocal contributions,and other lawful sources.
(4) Interest earnings on Trust balances.
Nothing in this ordinance shall be construed to authorize any mandatory fee,tax,linkage
fee,or required payment in lieu of housing.
Section 308.20.-Permitted uses of trust funds.
(1)Trust funds may be used only for the following purposes:
(a)Acquisition of real property suitable for affordable or attainable housing development.
(b) Due diligence and acquisition-related costs including appraisals,environmental
assessments,surveys,title work,and legal services.
(c) Holding,insurance,security,stabilization,and maintenance of acquired property.
(d) Competitive solicitation,conveyance,or long-term ground lease of property to Qualified
For profit,and Nonprofit Housing Organizations.
(e) Legal and transactional costs associated with affordability covenants,performance
agreements,and enforcement mechanisms.
(f)Administrative and program support costs associated with Trust operations,not to
exceed ten percent(10%) of annual Trust revenues.
(2)Trust funds shall not be used for loans,grants,construction financing,rehabilitation
financing,operating subsidies,or direct financial assistance to households or developers.
Section 308.21.-Disposition process.
(1) Properties acquired using Trust funds shall be conveyed or leased through a transparent
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ORDINANCE NO.2026-011
and competitive solicitation process. Evaluation criteria shall include affordability depth,
readiness,financial feasibility,development capacity,and consistency with County housing
policies.
(2) The Affordable Housing Advisory Committee shall provide advisory review and
recommendations prior to Board consideration of any disposition.
Section 308.22.-Affordability covenants and compliance.
(1)All conveyances or leases shall include recorded affordability covenants or land use
agreements establishing income limits,minimum affordability periods,development
milestones,resale or reversion protections,and enforcement remedies.
(2) Following conveyance,the for profit or nonprofit developer shall assume responsibility
for construction,financing,operations,and long-term compliance.
Section 308.23.-Governance and administration.
(1) The Board retains final authority over all Trust acquisitions,dispositions,and developer
selections.
(2) The SHIP Administrator shall administer the Trust,including issuance and management
of competitive solicitations,facilitation of interdepartmental review,and presentation of
recommendations to the Board.
(3)The Affordable Housing Advisory Committee shall serve in a formal advisory capacity
only.
(4)The Finance Department shall maintain Trust accounting and audit compliance.
(5) The County Attorney shall review acquisition instruments,conveyances,and
affordability covenants.
Section 308.24.- Financial controls and reporting.
The Trust shall be subject to audit in accordance with applicable law.An annual report shall
be presented to the Board summarizing revenues,expenditures,acquisitions,dispositions,
affordability outcomes,and fund balance.
SECTION 2. SEVERABILITY.
If any provision of this chapter is held invalid,the invalidity shall not affect other provisions
which shall be given effect without the invalid provision.To this end,the provisions of this
chapter are declared severable.
SECTION 3. EFFECTIVE DATE.
A certified copy of this ordinance,as enacted,shall be filed by the Clerk with the Office of the
Secretary of State of the State of Florida within ten days after enactment,and this ordinance
shall take effect upon filing with the Secretary of State.
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ORDINANCE NO.2026-Q)L
SECTION 4.CODIFICATION.It is the intention of the Board that the provisions of this
Ordinance shall become a part of the County's Code of Ordinances,as amended.The
provisions of this Ordinance may be renumbered or re-lettered and the word"ordinance"
may be changed to"section,""article"or other appropriate word to accomplish such
intention.
This ordinance was advertised in the Indian River Press Journal on the 22nd day of
July ,for a public hearing to be held on the 4th day of est, 2026 ,
at which time it was moved for adoption by Commissioner .Tnserh E. F1ecrher
seconded by Commissioner Susan Mars and adopted by the following vote:
Chairman Deryl Loar AYE
Vice Chairman Laura Moss
Commissioner Susan Adams AYI;
Commissioner Joseph E.Flescher AYE
Commissioner Joseph H.Earman A
The Chairman thereupon declared the ordinance duly passed and adopted this 4th
day of hoist
Attest: Ryan Butler,Clerk and Comptroller BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNT ,FLORI
DA
By � !e, I Y1L Q/ By
b�tv"t I S .l D �s
'.
Deputy Clerk Deryl Loar,
';
Ire;U
Approved to form and
legal sun/enc • %,;o•..
B
yrY!.; i epu C. Attorney
Effective Date:This ordinance was
►file�dlwith the Department of State and becomes
effective on the �vfof
/1 day (2e(/ c&a?..%o .
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