Fort Walton Beach Resolution — 2009-30-Amend LHAP — reading text

420. 9075( 3)(c), F. S. In accordance with the provisions of ss. 760. 20- 760. 37, it is unlawful to discriminate on the basis of race, creed, religion, color, age, sex, marital status, familial status, national origin, or handicap in the award application process for eligible housing. J. Support Services and Counseling: Chapter 67-37. 005( 5)(g) ,FA.C. Support services are available from various sources. Available support services may include but are not limited to: Homeownership Counseling ( Pre and Post), Credit Counseling, Tenant Counseling and Transportation K. Purchase Price Limits: Section 420. 9075( 4)( c), F.S. and Chapter67- 37. 007( 6) F.A. C. Purchase Price Limits: The sales price or value of new or existing eligible housing may not exceed 90% of the average area purchase price in the statistical area in which the eligible housing is located. Such average area purchase price may be that calculated for any 12- month period beginning not earlier than the fourth calendar year prior to the year in which the award occurs. The sales price of new and existing units, which can be lower but may not exceed 90% of the median area purchase price established by the U. S. Treasury Department or as described above. The methodology used by Okaloosa County ( local government) is: Bond Study Numbers provided by Florida Housing Finance Corporation Independent Study ( copy attached) U. S. Treasury Department Local HFA Numbers The purchase price limits shall run concurrently with those set annually by the State: New Homes: 281, 137. 50 Existing Homes: 281, 137. 50 L. Income Limits, Rent Limits and Affordability: Chapter 67-37. 005 ( 5)(e), FA.G. and Section 420. 9071( 2), FS. The Income and Rent Limits used in the SHIP Program are updated from the Housing Finance Corporation. Affordable means that monthly rents or mortgage payments including taxes and insurance do not exceed 30 percent of that amount which represents the percentage of the median annual gross income for the households as indicated in Sections 420. 9071 ( 19), ( 20) and ( 28), F. S. However it is not the intent to limit an individual household' s ability to devote more than 30% of its income for housing, and housing for which a household devotes more than 30% of its income shall be deemed affordable if the first institutional mortgage lender is satisfied that the household can afford mortgage payments in excess of the 30% benchmark and in the case of rental housing does not exceed those rental limits adjusted for bedroom size. M. Welfare Transition Program: Chapter 67- 37. 005( 6)( b)(7) F.A. C. Should an eligible sponsor be used, the city/ county has developed a qualification system and selection criteria for applications for Awards to eligible sponsors, which includes a description that demonstrates how eligible sponsors that employed personnel from the WAGES and Workforce Development Initiatives programs will be given preference in the selection process. Updated June 17, 2009 - Addition FHOP Strategy  N. Monitoring and First Right of Refusal: Section 420. 90 75( 3)(e) and (4) ( f), F.S. In the case of rental housing, the staff or entity that has administrative authority for implementing the local housing assistance plan assisting rental developments shall annually monitor and determine tenant eligibility or, to the extent another governmental entity provides the same monitoring and determination, a municipality, county or local housing financing authority may rely on such monitoring and determination of tenant eligibility. However, any loan or grant in the original amount of $3, 000 or less shall not be subject to these annual monitoring and determination of tenant eligibility requirements. Tenant eligibility will be monitored for at least annually for 15 years or the term of assistance which ever is longer unless as specified above. Eligible sponsors that offer rental housing for sale before 15 years or that have remaining mortgages funded under this program must give a first right of refusal to eligible nonprofit organizations for purchase at the current market value for continued occupancy by eligible persons. O. Administrative Budget: Chapter 67- 37. 005 ( 6)(f) 3, F.A.C.. A detailed listing including line- item budget of proposed Administrative Expenditures is attached as Exhibit A. These are presented on an annual basis for each State fiscal year submitted. The Okaloosa County/ City of Fort Walton Beach finds that the moneys deposited in the local housing assistance trust fund shall be used to administer and implement the local housing assistance plan. The cost of administering the plan may not exceed 5 percent of the local housing distribution moneys and program income deposited into the trust fund. A county or an eligible municipality may not exceed the 5 percent limitation on administrative costs, unless its governing body finds, by resolution, that 5 percent of the local housing distribution plus 5 percent of program income is insufficient to adequately pay the necessary costs of administering the local housing assistance plan. The cost of administering the program may not exceed 10 percent of the local housing distribution plus 5% of program income deposited into the trust fund, except that small counties, as defined in s. 120. 52( 17), and eligible municipalities receiving a local housing distribution of up to $ 350, 000 may use up to 10 percent of program income for administrative costs. The Okaloosa County/ City of Fort Walton Beach city/ county has adopted the above findings in the attached resolution, Exhibit E. Updated June 17, 2009 - Addition FHOP Strategy  II. LHAP HOUSING STRATEGIES: Chapter 67-37.005( 5), F.A. C. A. Name of the Strategy: Purchase Assistance 1. Summary of the Strategy: Ship funds will be made available to support down payment, closing costs, GAP financing, debt collection and substantial rehabilitation for the purchase of existing or newly constructed affordable housing units on a one- time basis to income eligible homebuyers. Assistance shall be tailored to the individual affordability and financing needs of the participating homebuyer. However, each homebuyer shall only receive the minimum level of assistance required to enable the purchase and necessary repair of an existing or newly constructed home utilizing GAP financing when necessary. Permanent first mortgage financing ( exceeding the SHIP Homebuyer Assistance) is provided through financial institutions without local guarantee, thereby leveraging a significant volume of private sector financing. The projected average SHIP cost per unit is a maximum of $60, 000. 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. Beneficiaries must complete a certified Home Buyer Counseling class prior to receiving funds. Eligible Moderate Income applicants will be considered only if there are non- eligible buyers in the Very Low Income and Low Income categories. 4. Maximum award is noted on the Housing Delivery Goals Charts: $ 60, 000 5. Terms, Recapture and Default: Deferred Payment Loan ( DPL) to the homeowner secured by a mortgage and promissory note at zero percent ( 0%) interest with no monthly payments due and payable until sale, transfer or rental of subject property. Requests for subordination in the event of homeowner refinancing will be reviewed on a case- by- case basis with priority given to debt consolidation or reduction in interest rate and disallowing cash in hand to recipient. 6. Recipient Selection Criteria: Assistance will be provided on a first- come, first qualified, first served basis following annual advertisement when required of the availability of SHIP resources for eligible homebuyers who are at no more than 80% of the median income level for Okaloosa County as determined by HUD, and receive a first mortgage commitment from a local lender. 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. Updated June 17, 2009 - Addition FHOP Strategy B. Name of the Strategy: Rehabilitation 1. Summary of the Strategy: The intent of this strategy is to complete substantial rehabilitation of substandard, homeowner occupied housing. Eligibility for relocation costs will be determined on a case- by- case basis. The economic life of the house should be extended by an additional 20 to 30 years. The maximum per unit cost for rehabilitation can go up to 50, 000. Fiscal Years Covered: 2007/ 2008; 2008/ 2009; 2009/ 2010