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Fort Walton Beach Council agenda — 06-25-13--regular — reading text
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by the Florida
Housing Finance Corporation to provide funds to local governments as an incentive to
create partnerships that produce and preserve affordable homeownership.
1. 2. The City of Fort Walton Beach has an Interlocal Agreement with Okaloosa County for
administration of the SHIP program within the City.
2. DISCUSSION:
2. 1. The Local Housing Assistance Plan ( LHAP) through the SHIP Program must be
renewed every three ( 3) years and approved by the City Council. The City Council
approved the LHAP on May 14, 2013 via Resolution 2013 -13.
2.2. After approval of the LHAP by the City Council and the Okaloosa Board of County
Commissioners, the LHAP was submitted to the Florida Housing Finance Corporation.
2. 3. The Florida Housing Finance Corporation approved the LHAP, but requested several
minor changes to the document before finalizing the approval:
2. 3. 1. Added description of Program Administrator in Section 1;
2. 3. 2. Provided for some internal consistency throughout the document regarding
forgiveness terms —mirrored Section 7 throughout;
2. 3. 3. Provided for internal consistency regarding the targeted population for the
program.
2. 4. The Okaloosa County Development Corporation ( OCDC) prepared the attached
amendment, which addresses the comments from the Florida Housing Finance
Corporation.
2. 5. There are no proposed changes to Resolution 2013 - 13. The only changes are to the
LHAP document.
3. FINANCIAL INFORMATION:
3. 1. The funding allocated through the LHAP Program is administered through the
Okaloosa Community Development Corporation. There is no direct financial impact to
the City.
4.
Page 1 of 2
8. 1. 5. a
NAME OF LOCAL GOVERNMENT:
Okaloosa County and City of Fort Walton Beach
SHIP LOCAL HOUSING ASSISTANCE PLAN ( LHAP)
FISCAL YEARS COVERED
2013/ 2014
201412015
201512016
Prepared by: Okaloosa Community Development Corporation
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