§ 2-138. Establishment of the local housing assistance program

(a)

There is hereby created, the Santa Rosa County Housing Assistance Program, hereinafter referred to as the "program," which shall designate the strategies, approaches, and plans associated with the utilization of SHIP funds in conformity with provisions of F.S. ch. 420, and Rule 9I-37.006, Florida Administrative Code.

(b)

The partnership shall use the funds received from the state pursuant to the SHIP Act to implement the program. The SHIP funds shall be generally distributed among the following locally designed strategies:

(1)

SHIP funds may be utilized to provide local cash matching for obtaining federal housing grants or programs. SHIP funds expended for this purpose shall be allocated only for activities which are dually eligible under F.S. ch. 420, and the governing federal regulations or Florida Statutes.

(2)

SHIP funds may be used to provide down-payment assistance, construction subsidies, mortgage reduction payments, mortgage interest rate subsidies, and/or direct mortgage loans to very low, low and/or moderate-income families to allow said families to purchase newly constructed or existing affordable housing in accordance with provisions of F.S. ch. 420. Specific activities may include:

a.

Rehabilitation/reconstruction. Funds may be used to provide flexible low interest loan and deferred loan/grant assistance to eligible homeowners living in severely substandard housing as necessary to rehabilitate the housing unit in conformance with local building codes and/or to construct a replacement unit if rehabilitation is not economically viable.

b.

Impact fee assistance. Funds may be made available for the payment of impact fees for eligible housing for eligible persons.

c.

New construction. Eligible sponsors may be awarded funds to construct eligible housing for eligible low and moderate income first time homebuyers. This strategy will involve the participation of local lenders providing mortgage financing and local for-profit and nonprofit developers/builders providing housing development and construction services.

d.

Homebuyer assistance. Funds may be utilized to assist eligible persons in attaining homeownership through mortgage subsidy/write-down, interest rate reductions, and/or low or no interest loans for down payments and closing costs associated with the purchase of newly constructed or existing affordable housing. This strategy shall require the participation of local financial institutions for private mortgage financing for eligible families. The capability of this program to aid in meeting the Community Reinvestment Act requirements for such lenders will be a primary focus.

e.

Acquisition/rehabilitation. Funds may be used to acquire existing properties and to the extent necessary rehabilitate such properties for resale at discounted prices to eligible families.

(3)

SHIP funds may be used to supplement existing Florida Housing Finance Agency projects or activities undertaken within Santa Rosa County, such as the state apartment incentive loan program established under F.S. § 420.5087, and homeownership assistance program established under F.S. § 420.5088.

(4)

SHIP funds may be used to provide emergency housing repairs through existing weatherization program service providers pursuant to F.S. §§ 409.509 through 409.5093.

(c)

Based upon program plans and objectives, Santa Rosa County shall generally utilize the available SHIP nonadministrative funds during the fiscal years 1992—1995 program period in support of the above noted strategies as follows:

(1)

Approximately 75 percent of available SHIP funds shall target housing rehabilitation/reconstruction for eligible very low, low and moderate-income homeowners.

(2)

Approximately 20 percent of available SHIP funds shall be reserved for use in support of and/or as local matching for existing federal housing programs, such as the Farmers Home Administration, Section 504 Homeowner Rehabilitation Program, and to provide emergency housing repairs through existing weatherization program service providers currently operating in Santa Rosa County.

(3)

Approximately 5 percent of available SHIP funds shall be reserved for use in support of and/or as local matching for obtaining federal housing grants or programs and/or state financed housing programs administered by the Florida Housing Finance Agency, Florida Department of Community Affairs, or their respective offices or affiliated agencies.

The board of county commissioners shall have the authority to alter the percentage distribution of SHIP funds, not more frequently than annually, by duly approved resolution of the division, without necessity for formal amendment of this enabling division. Such alteration shall be completed and submitted to the Florida Housing Finance Agency in conformity with the SHIP Plan amendment process provided for in Rule 9I-37, Florida Administrative Code.

(d)

The county hereby specifically finds the cost of administering the local housing assistance program shall not exceed ten percent of the funding received from the state pursuant to the state housing initiatives partnership act. The county finds that up to ten percent of the available funds may be required to support administrative costs based upon: paperwork and reporting requirements for application and receipt of funds, program monitoring requirements, staff support for advisory committee activities, fiscal management and control, level of ongoing staff liaison with various organizations and agencies, administrative effort necessary to legally integrate varied rules and regulations of SHIP and other housing programs, and general project management and data collection.

(e)

The local housing assistance program shall include all other lawful objectives not previously listed if said objectives have been adopted by resolution of the board of county commissioners into the local housing assistance plan in the manner provided for by F.S. §§ 420.907 through 420.9079, and Rule 9I-37, Florida Administrative Code.

(Ord. No. 93-09, § VIII, 4-22-93)