Fort Walton Beach Resolution — 2009-08-Local Housing Assistance Plan — reading text

homeowners who are at no more than 80% of median income level for Okaloosa County. Section 420. 9075( 3)( c) Florida Statue, state that it is unlawful to discriminate on the basis of race, creed, color, religion, age, sex, marital or familial status, national origin, or handicap in the selection of recipients of contracts or assistance under the SHIP Program. U: ArchivelSHIP/LHAPS 2003-04 LHAP Forms dtd 9_ 03/LHAP Template 9_ 2003 # 3dr_TB 6- C. Name of the Strategy: Reconstruction or New Construction for Eligible Homeowners 1. Summary of the Strategy: SHIP funds will be made available for the demolition of mobile homes and homes, which are determined to be deteriorated beyond repair for the reconstruction of homes on the property of the eligible homeowner and for relocation costs for the home owner while they are being reconstructed. Selected units will be determined based on feasibility analysis. The maximum allowable SHIP cost is up to $ 100, 000 $ 180. 000 If applicant is eligible for a partial home loan on the reconstruction project, the Okaloosa CDC will pay the difference not to exceed the maximum allowable SHIP funds. 2. Fiscal Years Covered: 2007/ 2008; 2008/2009; 2009/2010 3. Income Categories to be served: Those individuals or households who are within 80% of the median income or less. 4. Maximum award is noted on the Housing Delivery Goals Charts: $ 180, 000 5. Terms, Recapture and Default: Relocation costs are in the form of a grant only, and will not be included in the mortgage. For eligible households outside of the City of Fort Walton Beach limits, 50% can be funded by the 502 Rural Development Direct Loan Program at an interest rate no higher than 6% with the remaining 50%, plus demolition costs to be funded by the SHIP Program with a Deferred Payment Loan ( DPL) secured by a mortgage and promissory note ( applicant must be very-low or low income. The note has no monthly payments, is at zero percent (0%) interest, and is due and payable upon sale, transfer or rental of subject property. The mortgage and note have a maximum term of .: t-e 20 years upon which time the loan is fully forgiven. Listed below are the loan amounts with the years of commitment: 1. 00 $ 50, 000 - 10 Years 50, 001 $ 100, 000 - 16 YO:lrs 1. 00 - $ 180. 000 = 20 Years Loans will be forgiven in percentages at the following rates: 1 0 Year IO:ln... ... ... .... 10% forgiven per year 15 Year 10:ln... ... ... . 6. 67% forgiven per year 20 Year loan......... .. 5% foraiven oer year There is a maximum term of 4a 20 years, unless the property is sold, transferred or rented, in which case the loan becomes due and payable in full, with the following exceptions: For eligible households not acceptable to the guidelines of the Rural Development Program, or within the City of Fort Walton Beach limits, the Okaloosa CDC will allow eligible households to owe a 50 % financed Deferred Payment Loan ( DPL) secured by a mortgage and promissory note ( applicant must be within the very- low or low income categories). The note has no monthly payments, is at zero percent ( 0%) interest, and is due and payable U: ArchivelSHIPL/ HAPS 2003-04 LHAP Forms dtd 9_ 03/LHAP Template 9_ 2003 # 3dr_TB 7-  upon sale, transfer or rental of subject property. There is a maximum term of 4 Q years, unless the property is sold, transferred or rented, in which case the loan becomes due and payable in full, with the following exceptions: 1. In the event of the death of a loan holder, if an income eligible heir makes the house their primary residence, the forgivable loan can be assumed them. by 2. If HOME monies are leveraged with SHIP monies for reconstruction or new construction HOME & SHIP rules will apply to eligible recipients and property. diroot grant not f;oourod by a lion is allo..... ablo to homoo\'.'nerf;that aro mentally or phYGioally disablod, elderly ( 62 y<)arG and older) or bolow 30% of modian inoome. No iG ayment roquired rOj;) in suoh OaGOf;. /\ 11 grants mUGt be approved by tho Board of DirootorG. 6. Recipient Selection Criteria: Assistance will be on a first- come, first qualified, first-served, basis for those whose income is 80% or less of the median income. Section 420. 9075( 3)( c) Florida Statue, states that it is unlawful to discriminate on the basis of race, creed, color, religion, age, sex, marital or familial status, national origin, or handicap in the selection of recipients of contracts or assistance under the SHIP Program. D. Name of the Strategy: Disaster Assistance 1. Summary of the Strategy: SHIP funds may be used in all areas of Okaloosa County and the City of Fort Walton Beach to provide emergency repairs and rental assistance funds to homes owned by SHIP very low and low income families in the aftermath of a Federal, state or locally " declared natural disaster" to address emergency housing repair needs. Generally, such needs shall include, but not be limited. to: purchase of emergency supplies for eligible homeowners to weatherproof damaged homes; interim repairs to avoid further damage to the homes of eligible families; tree and debris removal required to make individual housing units inhabitable by a the eligible family; and post- disaster assistance with non- insured repairs to homes owned by low and very low income families. Additionally. in those cases where eliaible families cannot live in their st damaaed homes. deoosits and 1 and last months rents will be orovided not to exceed $ 3. 500 oer family. This optional strategy will be implemented only in the event of a " declared natural disaster" that directly impacts the area. The maximum amount of SHIP funds to be utilized through this strategy is 50, 000 in reoair oer unit and $ 3. 500 oer family for rental assistance unit. 2. Fiscal Years Covered: 2007/ 2008; 2008/2009; 2009/ 2010 3. Income Categories to be served: Those individuals or households who are ':Jithin the 'lory lo'/.' and low inoome oatogorios who are at 80% of the median income or less. The maximum SHIP cost per unit is $ 50, 000. Section 420. 9075( 3)( c) Florida Statue, state that it is unlawful to discriminate on the basis of race, creed, color, religion, U