Loading...
Resolution 501-1993 RESOLUTION NO. 501-1993 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, F;!_EP FOP RF_(;(lFP FLORIDA, AMENDING THE LOCAL HOUSING ASSISTANCE PLAN ELIGIBILITY .94 A -lj All :21 (THRESHOLD) AND SELECTION CRITERIA FOR ELIGIBLE RECIPIENTS. F, MONROE ",k. N : Y. I. WHEREAS, the Monroe County Board of County Commissioners approved Ordinance number 012-1993 - SHIP on March 24, 1993 and; WHEREAS, the Monroe County Board of County Commissioners approved the Monroe County Local Housing Assistance Plan on April 14, 1993 and; WHEREAS, the Florida Housing Finance Agency approved the Monroe County Local Housing Assistance Plan on June 18, 1993 and; WHEREAS, the Monroe County Housing Authority, Special Programs Office has requested updated median area purchase price, Monroe County SHIP-Program from the Florida Housing Finance Agency on October 21, 1993 to facilitate implementation and; WHEREAS, the ability to utilize SHIP funds as a match for HOME funds has now been clarified in the Florida Housing Finance Agency HOME Rule effective October 29, 1993 and; WHEREAS, the Local Housing Assistance Plan program eligibility requirements (threshold) and selection criteria must be updated to conform with the present Florida Housing Finance Agency SHIP and HOME Rule, NOW, THEREFORE, BE IT RESOLVED BY TH.E BOARD OF COUNTY COMMISSIONERS that the County hereby approves, effective this date,the amended and updated SHIP eligibility requirements (threshold) and selection criteria for program implementation and Local Housing Assistance Plan amendment. PASSED AND ADOPTED, by the Board of County Commissioners of Monroe County, Florida, at a regular meeting of said Board held on the 10t-h day of November, A.D., 1993. Mayor Landon yes Mayor Pro Tern Cheal absent Commissioner Freeman yes Commissioner 'Harvey yes Commissioner Reich yes BOARD ' COUNTY COMMISSIONERS OF OE CO` T`, FL IDA .41 ATTEST: Mayor/Chairman BY� C. kid )JL/ / ,> .� , o form a Deputy Clerk and legal sufficiency: . Date:72- t r'-e ; MONROE COUNTY LOCAL HOUSING ASSISTANCE PLAN FIRST AMENDMENT PROGRAM ELIGIBILITY (THRESHOLD) REQUIREMENTS • All recipients must be permanent residents of Monroe County. (1 year) • Eligibility is restricted to households that derive at least 70% of their household income from gainful employment in Monroe County and/or those applicants meeting federal disabilities criteria requirements. • All recipients must be willing to execute a program affordability agreement. • All home-ownership recipients must reside in their home of as a primary residence and qualify for a homestead exemption. • All program eligible rental units must be rented to the very-low to moderate income persons. • All recipients of SHIP and/or HOME match funds must be willing to execute a junior mortgage on their property containing affordability and assumption provisions. • All recipients must fall within the income guidelines established pursuant to SHIP as updated annually. Recipient must permit the verification of the gross anticipated household income to determine qualification as defined and calculated in the Florida Housing Finance Agency SHIP Compliance Guidelines. • All homeownership recipients must provide in cash an amount not less than 3% of the purchase price as a down payment. • All homeownership recipients must secure a permanent first mortgage. SELECTION CRITERIA Recipient selection within the f first-time home-ownership strategies strategy, will be by public random drawing. The emergency home repair strategy and the two (2) rental strategies will be on a first come/first service basis consistent with a completed qualified application per each strategy as detailed in the SHIP Program Notice of Funding Availability. Preference will be to qualified very-low and low and moderate income applicants pursuant to the Plan strategy. A minimum of thirty percent(30%) of the units addressed will be very-low income households. An additional thirty percent (30%) of the units addressed will be low income households. A priority will be permitted due to a documented emergency condition which threatens life, safety, and is a result of an act of nature. A committee comprised of the Mayor of Monroe County, the Mayor of the City of Key West, and the Chairman of the Monroe County Land Authority shall determine if a preference is to be given. --ascr g te--the-hou ehol i -exception--fie stu d oss i es ion,re , come 3tere a d dividend hoc Eligible homeownership applicants will be issued a commitment by the Special Programs Office for an amount up to $14,000 to assist in the acquisition and/or construction of a home. This commitment will encumber SHIP funds. The applicant shall have 60 days to select a home and apply for a first mortgage. The applicant shall have an additional 60 days to receive approval for a first mortgage. The applicant shall have an additional 60 days to close the transaction. If at any time applicants are unable to meet the time schedules, the commitment will become null and void. The order of issuance of commitments shall be prioritized by drawing. Drawings shall be by the Mayor of Monroe County or his designate at an announced public location.. Notice of Funding Availability will not be re-advertised until all initial eligible applicants have had an opportunity to participate. Concurrent with the application process the Special Programs Office will solicit local lending institutions, private lenders and mortgage bankers to participate in providing first mortgages and issue commitments (encumbrance) of SHIP funds to them for utilization in conjunction with qualified applicants. 10/27/93 PROGRAM ELIGIBILITY (THRESHOLD) REQUIREMENTS • All recipients must be permanent residents of Monroe County. (1 year) • Eligibility is restricted to households that derive at least 70% of their household income from gainful employment in Monroe County and/or those applicants meeting federal disabilities criteria requirements. • All recipients must be willing to execute a program affordability agreement. • All home-ownership recipients must reside in their home as a primary residence and qualify for a homestead exemption. • All program eligible rental units must be rented to the very-low to moderate income persons. • All recipients of SHIP and/or HOME match funds must be willing to execute a junior mortgage on their property containing affordability and assumption provisions. • All recipients must fall within the income guidelines established pursuant to SHIP as updated annually. Recipient must permit the verification of the gross anticipated household income to determine qualification as defined and calculated in the Florida Housing Finance Agency SHIP Compliance Guidelines. • All homeownership recipients must provide in cash an amount not less than 3% of the purchase price as a down payment. • All homeownership recipients must secure a permanent first mortgage. SELECTION CRITERIA Recipient selection within the first-time home-ownership strategy, will be by public random drawing. The emergency home repair strategy and the two (2) rental strategies will be on a first come/first service basis consistent with a completed qualified application per each strategy as detailed in the SHIP Program Notice of Funding Availability. Preference will be to qualified very-low, low and moderate income applicants pursuant to the Plan strategy. A minimum of thirty percent (30%) of the units addressed will be very-low income households. An additional thirty percent (30%) of the units addressed will be low income households. A priority will be permitted due to a documented emergency condition which threatens life, safety, and is a result of an act of nature. A committee comprised of the Mayor of Monroe County, the Mayor of the City of Key West, and the Chairman of the Monroe County Land Authority shall determine if a preference is to be given. Eligible homeownership applicants will be issued a commitment by the Special Programs Office for an amount up to $14,000 to assist in the acquisition and/or construction of a home. This commitment will encumber SHIP funds. The applicant shall have 60 days to select a home and apply for a first mortgage. The applicant shall have an additional 60 days to receive approval for a first mortgage. The applicant shall have an additional 60 days to close the transaction. If at any time applicants are unable to meet the time schedules, the commitment will become null and void. The order of issuance of commitments shall be prioritized by drawing. Drawings shall be by the Mayor of Monroe County or his designate at an announced public location.. Notice of Funding Availability will not be re-advertised until all initial eligible applicants have had an opportunity to participate. Concurrent with the application process the Special Programs Office will solicit local lending institutions, private lenders and mortgage bankers to participate in providing first mortgages and issue commitments (encumbrance) of SHIP funds to them for utilization in conjunction with qualified applicants.