Item J3
BOARD OF COUNTY COMMISSIONERS
AGKNDA ITEM SUMMARY
Meeting Date: January 16, 2008
Bulk Item: Yes -..L No
Division: Monroe County Housing Authority
Department: Monroe County SHIP Program
AGENDA ITEM WORDING: A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA APPROVING AN AMENDMENT TO THE LOCAL HOUSING
ASSIST ANCE PLAN STRA. TEGY FOR DISASTER MITIGATION FOR FISCAL YEARS 200612007
AND 2007/2008; AND PROVIDING FOR AN EFFECTIVE DATE.
ITEM BACKGROUND: The Monroe County SHIP Program received a Hurricane Wilma Disaster
Mitigation award in the amount of$575,408 in Fiscal Year 2005-2006. The receipt of CDBG Disaster
RecovelY Funding with more favorable terms has virtually eliminated the demand for SHIP Disaster
Mitigation Funding which must be expended by June 3D, 2008.
PREVIOUS RELEVANT BOCC ACTION: Approval of the Monroe County SHIP Local I-lousing
Assistance Plan, Resolution 122-2007 on March 21, 2007.
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION:
Approval
TOTAL COST:
$-0-
BUDGETED: Yes No
COST TO COUNTY:
$-0-
SOURCE OF FUNDS: N/A
REVENUE PRODUCING: Yes
No ~ AMOUNT PER: Month
Year
APPROVED BY:
County Atty. _
! chasing _ Risk Management _
DIVISION DIRECTOR APPROVAL:
DOCUMENTATION:
Not Required _
Included X
To Follow
AGENDA ITEM #
DISPOSITION:
RESOLUTION NO.
, 2008
A RESOLUTION OF THE BOARD OF COUl\TY COMMISSIONERS OF
MONROE COUNTY, FLORIDA APPROVJNG AN AMENDMEl'l'T TO
THE LOCAL HOUSING ASSISTANCE PLAN STRATEGY FOR
DISASTER MITIGATION FOR FISCAL YEARS 2006/2007 AND
2007/2008; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Monroe County applied for and received a special Hurricane Wilma
Disaster Mitigation award in the amount of $575,408; and
WHEREAS, prior to receipt of this special allocation, the Monroe County SHIP
Program provided assistance to eligible very low and low income residents through
the existing Housing Rehabilitation Strategy; and
WHEREAS, the City of Key West, Florida applied for and received an initial
award of $7,531,497 in CDBG Disaster Recovery funding for a countywide program
for the rehabilitation of existing affordable housing structures; and
'WHEREAS, the City of Key West, FIOlida has applied for and will shortly
receive an additional award in the amOlmt of $10,249,714 in CDBG Supplemental
Disaster Recovery Funding for the Rehabilitation of existing affordable housing
structures; and
WHEREAS, the Disaster Recovery CDBO Housing Assistance Plan provides
assistance in the form of a deferred payment loan forgiven after 10 years to the very
low and low income residents countywide; and
WHEREASt the CDBG Disaster Recovery flmding does not require local
jurisdiction and/or other body politics authodzed by Florida Statute to enter into a
deferred payment loan; and
WHEREAS, the infusion of the CDBG Disaster Recovery funds with favorable
terms has eliminated the demand for SHIP Disaster Mitigation ftmding; and
WHEREAS, the present unencumbered balance of SHIP Disaster Mitigation
funds is approximately $155,000; and
WHEREAS, the unencumbered Disaster Mitigation funding 1S for
Homeownership and must be expended by June 30, 2008; and
WHEREAS, there continues to be a significant demand for Homebuyer
Assistance.
NOW THEREFORE, BE IT RESOLVED BY THE Board of County
Commissions, of Momoe County, Florida, that the County hereby approves:
An amendment to the Monroe County State Housing Initiatives Partnership
(SHIP) Program, Local Housing Assistance Plan (LHAP), Disaster Mitigation
Strategy attached hereto as Exhibit "A".
PASSED AND ADOPTED THIS
, 2008,
DAY OF
BOARD OF CaNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
Mayor McCoy
Mayor Pro Tern Di Gennaro
Commissioner Spehar
Commissioner Murphy
Commissioner Nugent
By;
Mayor Charles McCoy
SEAL:
ArrEST:
MONROE COUNTY ATTORNE
Approved as to legal sufficie . _D TO FO ,
Date:
EXHIBIT" A"
C. Name of the Strategy: DISASTER MITIGATION
a. Summary of the Strategy:
Funds provided to homeo\'.'Ilcrs and owners of rental properties to make
hurricane related or other disaster repairs.
Funds to be provided to eligible applicants for Homebuyer Assistance in
accordance with the Local Housing Assistance Plan, Homebuyer
Assistance Strategy terms and conditions approved by Resolution 122-
2007 dated March 21, 2007.
b. Fiscal Years Covered:
2006/2007 and 2007/2008
c. Income Categories to be served:
Very low, low and moderate
d. Maximum award is noted on the Housing Delivery Goals Charts:
Homeowner and Rental Hurricane related repairs deferred payment,
forgiven loans not to exceed $35,000 per housing or rental unit.
Homebuyer Assistance Strategy Loans not to exceed $45,000 per home in
accordance with the Homebuyer Assistance Strategy tenDS and conditions
approved by Resolution 122-2007, March 21,2007.
e. Terms, Recapture and Default:
Loans will be a deferred payment loan for a period often (10) years with
a zero % interest rate. The loan balance will be forgiven during years six
(6) through ten (10) at the rate of twenty (20) % per year. The loan will be
due and payable in full upon the sale or transfer of the property, failure to
comply with the terms of the SHIP mortgage or death of the last surviving
homeowner. In the event of the death of the last surviving homeowner,
any income eligible heir residing in the home may assume the SHIP Loan
as long as they can obtain title to the entire property witlrin one (1) year of
the death of the last surviving homeowner and the first mortgagee
consents to the assumption of their loan. Local jurisdictions and/or body
politics authorized by Florida Statute are not required to enter into a
deferred payment loan.
The terms and conditions for the Homebuyer Assistance Strategy will be
those approved by Resolution 122-2007 on March 21, 2007.
f. Recipient Selection Criteria:
Applications processed on a "first come, first ready" basis.
g. Sponsor Selection Criteria:
N/A
h. Additional Information:
For the emergency repairs under this strategy, emergency repairs are
defined as those repairs to damages resulting from a disaster that pose an
immediate health and safety hazard to occupant(s).
C. Name of the Strategy~ DISASTER MITIGATION
a. Summary of the Strategy:
Funds provided to homeowners and owners of rental properties to make
hurricane related or other disaster repairs.
Funds to be provided to eligible applicants for HomebQY9r Assisl811Ce in
accordance with the Local Housing Assistance Pian. Homebuyer
,8.ssistance Strategy terms and conditions approved March 21. 2007.
b. Fiscal Years Covered:
200612007 and 2007/2008 2008/2008 2009/2009 20) 0
c. Income Categories to be served:
Very low; low and moderate
d. Maximum award is noted on the Housing Delivery Goals Charts:
}Iomeowner and Rental Hurricane related repairs deferred payment.
forgiven Iboans not to exceed $35,000 per housing or rental unit.
Homebuver Assistance Strategy Loans not to exceed $45.000 per home in
accordnnce 'with the Homebuyer Assistance Stratcllv terms and conditions
approved l;Jy Resolution 122-2007. Marcb 21, 2007.
e. Terms, Recapture and Default:
Mortgage ~loans will be a deferred payment loan for a period of ten $ifly
Q~O) years with ~zero % interest rate. The loan b<:tltlU!;y will be lorgiven
during years six (6) through ten (] 0) at the rate of twenty (20) % per year.
The loan will be due and payable in full upon the sale or transfer of the
property,-, thirty years (30), failure to comply with the terms of the SHIP
mortgage or death of the last surviving homeowner. In the event of the
death of the last surviving homeowner, any income eligible heir residing
in the home may assume the SHIP Loan as long as they can obtain title to
the entire property within one (1) year of the death of the last surviving
homeowner and the first mortgagee consents to the assumption of their
loan. Local jurisdictions andioT body politics authorized by Florida
Statute are not required to enter into a deferred payment loan.
The terms and conditions for the Homebuyer Assistance Strategy will be
those approved by Resolution 122-2007 on Mal'ch 2.1 2007..
f. Recipient Selection Criteria:
Applications processed on a "first come, first ready" basis.
Homebuver Assistance applicants will be processed in accordance with
the Homebuver Assistance Strategy approved by Resolution 122/2007 on
March 21. 2007
g. Sponsor Selection Criteria:
N/A
h. Additional Information:
For the emergency repairs under this strategy, emergency repairs are
defined. as those repairs to damages resulting from a disaster that pose an
immediate health and safety hazard to occupant(s).