Fort Walton Beach Resolution — 2013-13 SHIP - Local Housing Assistance Plan — reading text

is unlawful to discriminate on the basis of race, creed, color, religion, age, sex, marital or familial status, 7_  national origin, or handicap in the selectlon of recipients of contracts or assistance under the SHIP Program. D. Name of the Strategy: Disaster Assistance 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 a state declared disaster by Executive Order 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 habitable by an eligible family, and post -disaster assistance for uninsured repairs to homes owned by low and very low Income families. Additionally, in those cases where eligible families cannot live in their damaged homes, deposits and 1e and last month' s rents will be provided not to exceed $ 3, 500 per unit . This optional strategy will be implemented only In the event of a ' declared disaster that directly Impacts the area. The maximum amount of SHIP funds to be utilized through this strategy is $ 50,000 in repairs per unit and 3, 500 per family for rental assistance. 2. Fiscal Years Covered: 201312014; 2014/ 2015; 2 01512018 3. Income Categories to be served: Those individuals or households at or below 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, used, 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. This is a one -time assistance program. 4. Maximum award is noted on the Housing Delivery Goals Charts: 50, 000 per unit for rehabilitation 3, 500 per unit for rental assistance, If required 5. Terms, Recapture and Default: The SHIP note has no monthly payments, is at zero percent ( 0 %) interest, and is due and payable upon sale, transfer or rental of subject properly. The mortgage and note have a maximum tam of 5 years upon which time the loan is fully forgiven. Listed below are the loan amounts with the years of commitment: 1. 00 - $50, 000 = 5 years for unit repair s-  Loans will be forgiven in percentages at the following rates 5 year loan-20% forgiven per year on the loan anniversary date. There is a term of 5 years, unless the property is sold, transferred or rented, in which case the loan becomes due and payable in full, with the following exception: 1) An income eligible heir makes the house their primary residence, In which case the loan can be assumed by them. If HOME monies are leveraged with SHIP monies for reconstruction or new construction HOME & SHIP rules will apply to eligible recipients and property. Rental Assistance funds, not to exceed $ 3,500 will be granted to income eligible recipients. 6. Recipient Selection Criteria Assistance will be provided on a first come, first qualified, first served basis following the declaration of a disaster. The strategy will be advertised upon declaration of the area as a ' declared disaster area. In the event the strategy is not implemented during a given SHIP Program year, any funding reserved for the Strategy will be reallocated to one or more of the approved SHIP strategies by SHIP budget transfer notification to the Housing Finance Agency. E. Name of the Strategy: Infill- Housing I land and/ or House Acquisition /Rehablihation /Resale Summary of the Strategy: The intent of this strategy is threefold: a.) To allow the Okaloosa CDC the capability to purchase the property, rehabilitate and resell it using HD definition of " Affordability" within 12 months of purchase to low and very low income eligible customers. b.) To purchase property in target neighborhoods needing revitalization and to provide infill housing via new construction within 24 months of purchase. c.) To allow the Okaloosa Community Development Corp to purchase land to develop home sites within 36 months of purchase. This is not a land banking strategy, but instead a new construction strategy that complies with the SHIP expenditure deadline. 2. Fiscal Years Covered 2013/ 2014; 2014! 2015; 2015/ 2016 3. Income Categories to be served: The targeted populations are those Individuals or households who are at 80% of the median income or less. Maximum award is noted on the Housing Delivery Goals Charts: 9-  100, 000 4. Terns, Recapture and Default: Applicants purchasing these properties will be allowed to participate in the SHIP Down Payment/ Closing Cost Program. The upfront SHIP investment from this strategy will be recaptured in full. MAXIMUM AMOUNTS: Single Family Home $ 100, 000 Recipient Qualifications: Costs funded by the SHIP Program for homes purchased by SHIP recipients will require a Deferred Payment Loan ( DPL) secured by a mortgage and promissory note. 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. There is a tern of 15 years, unless the properly is sold transferred or rented, in which case the loan becomes due and payable in full, with the following exceptions: 1) An income eligible heir makes the house their primary residence, in which case the loan can be assumed by them. 2) The SHIP note has no monthly payments, is at zero percent ( 0 %) interest, and is due and payable upon sale, transfer or rental of subject property. If HOME monies are leveraged with SHIP monies for reconstruction, HOME rules will apply to eligible recipients and property. Recipient Selection Criteria Assistance will be provided on a first -come, first qualified, first -serve basis following annual advertisement of the availability of SHIP resources for eligible homeowners who are at no more than 120% 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. F. Name of the Strategy: Foreclosure Preventionllnterventlon Strategy Summary of the Strategy This strategy will be used in all areas of Okalo isa County and the City of Fort Walton Beach to provide foreclosure prevention/ Intervention assistance prior to the start of the foreclosure process to allow eligible low and very low income homeowners to become current on their mortgage payments. Eligible expenses will include delinquent mortgage payments, attorneys fees, recording fees, and late fees. The maximum grant amount is $ 5,000. Fiscal Years Covered: 201312014; 2014/ 2015; 2015/ 2010 10-  3. Income Categories to be Served: Those individuals or households who are at or below 80 % of median Income. Assistance will be provided on a first -come, first qualified, first -served basis. 4. Maximum Award: $ 5,000 5. Terms, Recapture and Default: Assistance will be available in the form of a grant with no repayment Required. 6. Recipient Selection Criteria: Homeowners must be delinquent at least 30 days with either a letter from the mortgagor -notifying applicant of delinquency and/ or Intent to foreclose. In addition, the default must have been caused by circumstances beyond the control of the applicant, such as - death of spouse, unforeseen medical expenses, divorce, or unemployment- and there must be a reasonable prospect that the applicant will be able to resume full mortgage payments to the primary lender, based on an income certification to determine Affordability. This program may only be used once by an eligible homeowner. G. LHAP RENTAL STRATEGIES Name of the Strategy: RehabllltatlonlNew Construction 1. Summary of the Strategy: The intent of this strategy is to leverage state funds with private investors and other non- prords in the rehabilitation of existing substandard low - income rental housing, both single family homes and multi- family apartments or town homes, and to assist in the funding, rehabilitation or new construction of rental units within the County and City to further the efforts of low income rental development. 2. Fiscal Years Covered: 201312014; 201412015; 2015! 2016 3. Income Categories to be served: Families occupying rental units rehabilitated or developed through this activity must have incomes below 80% of the medlan Income or In the