☐ Consent Agenda ☐Quasi-Judicial Public Hearing
☒ Regular Business 3:00 pm
☐ Public Hearing Other
DEPARTMENT: Social Services
SUBMITTED BY: Lauri Benson
PRESENTED BY: Lauri Benson
TITLE & DESCRIPTION:
title
Technical Revision/Local Housing Assistance Plan
body
REQUESTED MOTION:
To approve the technical revisions to the LHAP as presented.
SUMMARY:
Revisions to the LHAP start on page 6 Owner Occupied Rehab (forgiveness of 50% of the loan is changing from 10 years to 5 years, also Self-Help will only be available during State declared emergencies.)
Pages 8 and 9 Purchase Assistance with and without Rehab (changing maximum award amount from “up to 30% of purchase price, not to exceed $70,000” to “$20,000 for moderate income and $25,000 for low income” The forgiveness went from 50% forgiven after 10 years to non-forgivable.
Pages 9 and 10: Demolition/Reconstruction modified - 50% forgivable after 10 years to 50% forgivable after 5 years, and the Self-Help section is only available during and immediately after a State declared emergency.
BACKGROUND:
SHIP funds are provided by the Florida Housing Finance Cooperation to the County and the County adopts a new LHAP every 3 years, periodically, based on funding the County requires technical revisions to their Local Housing Assistance Plan prior to the 3 year adoption.
FUNDS:
Budget Amount: N/A
Actual Agenda Item: N/A
Cost: N/A
Account Number: N/A
Explanation: N/A