Fort Walton Beach Council agenda — 12-12-06 ‎(regular)‎ — reading text

Selection Criteria: This strategy will be implemented by the County' s housing agent. h. Additional Information: None. B. STRATECY 2: EMERCENCY HOME REPAIR.l..... NCE SSIST.l..... a. Summary ofthe Strategy: HHRP funds will be used to proyide moderate rehabilitation or very low, low and moderate income o'.wer occupied or emergency repair assistance f- homes to address one or more of the following: roofing repair/ replacement; hurricane damage repair ( including interior/exterior repairs); electrical, plumbing, sanitary disposal, lif-elsafcty conditions; structural code deficiencies; paintinWsiding; handicapped accessibility needs; window/ door replacement; inslliationlenergy efficiency impro' leHlents; tree remoyal and disposal; hurricane debris remoy-al and disposal; and other related repairs. This emergency repair '.viII include repair assistance f-or pre and concerns with post 1991 manufactured homes. Repairs vAil target health and saf-cty priority for hurricane repair and recovery needs. b. Fiscal Years Covered: July 1, 2005 June 30, 2008 July L 2007 June 30. 2010 c. Income Categories to be served: This strategy '.vill assist appnciHlts with extremely low, very low, low and moderate income ( up to 120% of the area median iRcome). d. Maximum award is noted on the Housing Delivery Goals Charts: $ 15, 000 $ 20.000 c. Terms. Recapture and Default: Deferred payment loan to the homemNner, which is able at the end of four (-1) years. seclKed by Ii reoorded lien that is forgi-.. The 3-  remaimng amount ofthe lien that has not depreciated must be repaid upon default by the homeowner. Default is defined as the sale, rental, lease, or transfer of o'lmership of the property dur.ng the fOlK ( 1) yem-period. f Recipient Selection Criteria: Assistance V\ill be provided on a fust come, fu]t HHRP qualified. fust served basis fol ow.ng advertisement of the availability of funds. The family must pro'lide proof of property ownership. ( estates m-e Lif", recognized as proof of o.... mership.) g. Selection will be based upon responses to an aW/ ertised request for proposal (RFP). 1R include: 1) past experience of agency in managing emergency Selection criteria ..... or moderate housing repair assistance activities; 2) projected HHRP cost per housing unit; 3) commitment of non HHRP ft.mds as leverage f-or HHRP doYm-s; 1) commitment to limit assistance to extremely low, w~ry low and ICYA' ineome families; and, S) implementation and unit production schedule. Proposals meeting the RFP reqt:lirements ill be eyaluated by the Okaloosa CDC to determine the agency( ics) V\ or organization( s) that will implement the strategy. Final selection and contract approval Vtill be provided by the County Commission. The RFP '.'till solicit participation f-or the full three year HHRP period. This strategy viill be implemented by the County' s housing agent. The Okaloosa CDC. h. dditional Information: None. f.. C. STRATEGY 3: HOME PURCHASE ASSISTANCE a. Summary of the Strategy: I- llIRP funds will be made available to support the purchase of an existing or newly constructed affordable housing unit on a one- time basis to income eligible homebuyers primarily including low and moderate income families. Rehabilitation funding shall be allowed up to $20. 000 along with purchase assistance. 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 of an existing or newly constructed home which does not exceed the SlllP maximum sales prices as determined by the U. S. Treasury Department. Permanent first mortgage financing exceeding the I- llIRP Purchase Assistance) will be provided through financial institutions and private developers or contractors without local guarantee, thereby leveraging a significant volume of private sector financing. b. c. Fiscal Years Covered: July 1, 2005 June 30, 2008 July 1. 2007 - June 30. 2010 d. Income Categories to be served: Applicants purchasing homes through this strategy must have incomes that do not exceed 120% ofthe area median income. 4-  e. Maximum award is noted on the Housing Delivery Goals Charts: $ 35, 000 $ 60. 000 f Terms. Recapture and Default: Deferred Payment Loan secured by mortgage and note that is forgh<able at the earl of fifteea ( 15) years to be repaid in full. The loan is provided at zero percent ( 0%) interest and there are no monthly payments. The loan is due and payable in full if the property is sold or title is transferred or the house is no longer the primary residence. g. Recipient Selection Criteria: Assistance will be provided on a first- come, first qualified. first served basis following advertisement of the availability of IllIRP resources. A waiting list exists for this strategy and new applicants will be added to the existing list. h. Sponsor Selection Criteria: This strategy will be implemented by the County' s housing agent. 1. Additional Information: None. D. STRATEGY 4: FORECLOSURE PREVENTIONIINTERVENTION STRATEGY a. Summary of the Strategy: IllIRP funds will be made to provide foreclosure prevention/intervention assistance prior to the start of the foreclosure process to allow eligible homeowners 30% to 120% AMI prior to become current on their mortgage payments. Eligible expense will include delinquent mortgage payments, debt collection, attorney' s fees, recording fees, and late fees. b. Fiscal Years Covered: July 1, 2005 June 30, 2008 July L 2007 - June 30. 2010 d. Income Categories to be served: This strategy will serve applicants with 120% or below AMI. e. Maximum award is noted on the Housing Delivery Goals Charts: $ 2, 500 5. 000 f Terms. Recapture and Default: This assistance will be in the form of a grant. g. Recipient Selection Criteria: Assistance will be provided on a first- come, first qualified. first served basis. Homeowners must be delinquent in at least two full monthly mortgage payments and in receipt of a letter from the mortgagee notifying applicants of delinquency and/or intent to foreclose. Eligible applicants must attend counseling sessions as determined by funding agency. This program may only be 5-  used once by the eligible homeowner. h. Sponsor Selection Criteria: This strategy will be implemented by the County' s housing agent. 1. Additional Information: None E. STRATEGY 5: VOLUNTEER-BASED HOUSING INITIATIVE a. Summary of the Strategy: IllIRP funds will be used to provide grants for the purchase of building materials, supplies and related support items to be utilized through volunteer based initiatives in order to complete improvements to extremely low, very low, low and moderate- income owner occupied homes as required to address limited scope health and safety deficiencies with the home. Expenditures of IllIRP funds will be limited to materials, supplies, and associated costs, while labor and installation expertise will be provided by the volunteer based initiative. Repairs will target health and safety concerns with priority for hurricane repair/ecovery needs. b. Fiscal Years Covered: July 1, 2005 June 30, 2008 July 1. 2007 - June 30. 20 10 c. Income Categories to be served: All ofthe homes repaired through this activity will be owned by families with incomes below 120% of the median income. d. Maximum award is noted on the Housing Delivery Goals Charts: $ 10, 000 e. Terms. Recapture and Default: Where all work is performed totally by volunteer labor with no assistance will be provided to the eligible homeowner in the warranty, form of a Direct Grant and no lien or mortgage will be encumbered against the subject property. f Recipient Selection Criteria: Assistance provided on a first come/ first qualified/first served basis following advertisement of the availability ofHHRP funds. g. Sponsor Selection Criteria: Selection will be based upon responses to an advertised request for proposal R( FP) that will provide for an open application cycle. Selection criteria will include: 1) past experience of agency in managing volunteer based home repair initiatives; 2) commitment ofnon-HHRP funds or volunteer (in-kind) services as leverage for HHRP dollars; and 3) unit production goals for housing repair in relation to HHRP funds requested. Proposals meeting the RFP requirements will be evaluated by the Okaloosa CDC to determine the agency( ies) or organization( s) that will implement the strategy. The RFP may solicit participation for the full IllIAP period. h. Additional Information: None. 6-  F. STRATEGY 6: Tenant Assistance - Security Deoosits. Rent and Utility Connection Deposits a. Summary of the Strategy: HHRP funds will be utilized to assist families that were impacted by hurricanes with meeting deposits. rent. security and utility deposit requirements which will allow them to secure needed housing. c. Fiscal Years Covered: July 1, 2005 JUBe 30, 2008 July 1. 2007 - June 30. 2010 d. Income Categories to be served: This strategy will serve applicants with 80% or below AMI. e. Maximum award is noted on the Housing Delivery Goals Charts: $ 1, 750 $ 3. 000 f Terms. Recapture and Default: This assistance will be in the form of a grant. No payment shall be required of the eligible family, but should funds be returned after the deposit period they will be redeposit into the HHRP fund for reuse in funding other