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City of Tamarac Resolution R-2005-189
1 Temp Reso #10799 September 21, 2005 Page 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2005- 199 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO APPROVE THE AMENDMENT OF THE LOCAL HOUSING ASSISTANCE PLAN (LHAP) AND DELIVERY GOALS CHART FOR THE PROGRAM YEARS 2004-2005, 2005-2006 AND 2006-2007 TO BE SUBMITTED AS A REQUIRED COMPONENT OF THE STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) ACT GRANT PROGRAM; PROVIDING FOR CERTIFICATION OF CONSISTENCY WITH THE CITY'S COMPREHENSIVE PLAN; CASE NO. 13-MI-05; PROVIDING FOR EXPENDITURES FOR ADMINISTRATION OF THE PROGRAM; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission of the City of Tamarac, Florida, having met the requirements of the State Housing Initiatives Partnership (SHIP) Act, became a direct entitlement City receiving grant funding on July 1998; and WHEREAS, the State Housing Initiatives Partnership (SHIP) Act, § 420.907- 420.9079, Florida Statutes (1992), and Rule Chapter 67-37.005(6), Florida Administrative Code, requires local governments to develop and adopt a Local Housing Assistance Plan (LHAP) which details the housing programs; and WHEREAS, the Local Housing Assistance Plan is valid for a period of three (3) years and is required to be renewed and submitted to the Florida Housing Finance Corporation for continued SHIP grant participation; and Temp Reso #10799 September 21, 2005 Page 2 WHEREAS, the State Housing Initiatives Partnership (SHIP) Act requires local governments to establish the maximum SHIP funds allowable for each strategy; and WHEREAS, the SHIP Act further requires local governments to establish an average area purchase price for new and existing housing benefiting from awards pursuant to the Act; and WHEREAS, the maximum SHIP funds allowable for each strategy and the methodology and maximum purchase prices used are defined in the Local Housing Assistance Plan (LHAP) and Delivery Goals Chart (attached hereto as Exhibit 1 "); and WHEREAS, the Local Housing Assistance Program adopted by the City Commission of the City of Tamarac must be consistent with the City's Comprehensive Plan; and WHEREAS, the Community Development Director recommends approval; and WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interest of the citizens and residents of the City of Tamarac to approve the Local Housing Assistance Plan (LHAP) and Delivery Goals Chart for the Program Years 2004- 2005, 2005-2006 and 2006-2007 to be submitted as a required component of the State Housing Initiatives Partnership (SHIP) Act Grant Program; providing for certification of consistency with the City's Comprehensive Plan, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: �l 1 Temp Reso #10799 September 21, 2005 Page 3 SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution. SECTION 2: That the City Commission hereby approves the Amendment of the Local Housing Assistance Plan (LHAP) and Delivery Goals Chart as attached in Exhibit I" and incorporated hereto for submission to the Florida Housing Finance Corporation as required by § 420.907 — 420.9097, Florida Statutes and Rule 67-37.006 Florida Administrative Code, for the State of Florida Fiscal Years 2004-2005, 2005-2006 and N111I19BANI ►A SECTION 3: That the Mayor is hereby designated and authorized to execute any documents and certifications required by the Florida Housing Finance Corporation as related to the Local Housing Assistance Plan. SECTION 4: That the appropriate City Officials are hereby authorized to submit the Local Housing Assistance Plan (LHAP) and Delivery Goals Chart, to the Florida Housing Finance Corporation for review and approval. SECTION 5: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Temp Reso #10799 September 21, 2005 Page 4 SECTION 6: If any clause, section, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 7: passage and adoption. This Resolution shall become effective immediately upon its PASSED, ADOPTED AND APPROVED this a.g day of <5epf ernbe(' , 2005. /""� t�f 42 JOE SCHREIBER MAYOR ►_ti99*1" ,r MARION SWEN N, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. jl�l G Ittl SAMUE S. GOREN INTERIM CITY ATTORNEY RECORD OF COMMISSION VOTE: MAYOR SCHREIBER , DIST 1: COMM. PORTNER Al DIST 2: VIM TALABISCO DIST 3: COMM. SULTANOF DIST 4: COMM. ROBERTS 1 1 EXHIBIT "1" TEMP RESO #10799 CITY OF TAMARAC STATE HOUSING INITIATIVES PARTNERSHIP PROGRAM LOCAL HOUSING ASSISTANCE PLAN Prepared for the State of Florida Fiscal Years 2004-2005, 2005-2006 and 2006-2007 July 1, 2004 through June 30, 2007 Submitted May 2004 September 2005 City of Tamarac �T 7525 N.W. 88#" Avenue Tamarac, FL 33321 (954) 724-1285 City of Tamarac SHIP Program LHAP FY 2004-2007 TABLE OF CONTENTS PROGRAM DESCRIPTION A. Name of Local Government ............................. .................. .......... ..... 3 B. Purpose .......... ......... ........................ ................................... ..... 3 C. Fiscal Years Covered ........................................ .................... .......... ..... 3 D. Governance .......... ....................................... .................... .......... ..... 3 E. Local Housing Partnership ................................ ........ .......... .......... ..... 3 IV F. Leveraging .......... .......................................... .................... .............. 4 G. Public Input .......... .......................................... .................... .............. 4 H. Advertising and Outreach .................................. .................... .......... ..... 5 1. Discrimination ......... .......................................... .................... .............. 5 J. Support Services and Counseling ..................... .................... .............. 5 K. Purchase Price Limits ....................................... .................... .......... ..... 6 L. Income Limits, Rent Limits and Affordability ..... .................... .............. 6 M. Wages to Work ...... .......................................... .................... .............. 6 N. Monitoring and First Right of Refusal ................ .................... .......... ..... 6 0. Administrative Budget ....................................... .................... .......... ..... 7 P. Controlling Clause in Issues of Conflict ............. .................... .......... ..... 7 Q. Contractual Compliance with Program Requirements ............ ...... _.. 7 R. Homeownership and Construction Set -Aside Requirement .............. ..... 7 S. Maximum Loan Terms ....................................... ................... .......... ..... 8 T. Recapture of Funds .......................................... .................... .............. 8 U. Encumbrance and Expenditure Time Frames ... .................... .............. 8 V. Plan Amendments .. ....................................... .. .................... .............. 8 W. Program Income/Recapture Funds ................... .................... .. ....... ..... 8 X. Eligible Person or Household ............................ .................... .............. 9 Y, Eligible Housing Types ...................................... .................... .......... ..... 9 Z. Special Needs ....... .......................................... .................... ............ 10 LHAP HOUSING STRATEGIES A. Strategy I — OwneF QGGUpied Home Housing Rehab Program ........ ... 10 B. Strategy 2 — Down Payment Assi6tanGe Plan Target Area Rehab Program ................................... ... 11 C. Strategy 3 — FFneFgeAGy Repa'F PmgFam Down Payment Assistance ... 12 D. Strategy 4 — Disaster Relief .................. ............ .................... ............ 15 LHAP INCENTIVE STRATEGIES A. Incentive Strategy 1 — Expedited Permitting ..... .................... ............ 17 B. Incentive Strategy 2 — Ongoing Review Process ................... .......... ... 17 C. Incentive Strategy 3 — Zero Lot Line Development ................ .......... ... 18 EXHIBITS (Attached) A. Annual Administrative Budgets B, Timelines C. Housing Delivery Goals Charts D. Certification Page E. Adopting Resolution F. Program Information Sheet Page - 2 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 1. PROGRAM DESCRIPTION A. Name of Local Government: City of Tamarac Interlocal: Yes No— X B. Purpose The creation of the Local Housing Assistance Plan (LHAP) is for the purpose of meeting the housing needs of the very low, low, and moderate -income households, to expand production of and preserve affordable housing, and to further the housing element of the City of Tamarac Comprehensive Plan specific to affordable housing. C. Fiscal Years Covered This plan will cover the State of Florida's fiscal years 2004-2005, 2005-2006, and 2006-2007 from July 1, 2004 through June 30, 2007. D. Governance The State Housing Initiatives Partnership (SHIP) Program is established in accordance with Section 420,907-9079, Florida Statutes, and Chapter 67-37.007, Florida Administrative Code. The SHIP Program furthers the housing element of the City of Tamarac Comprehensive Plan, E. Local Housing Partnership The SHIP Program encourages building active partnerships between government, lenders, builders and developers, real estate professionals, advocates for low- income persons, and community groups. The FY 2004-2005, 2005-2006 and 2006- 2007 Local Housing Assistance Plan is implemented through a local housing partnership. This partnership represents a cooperative effort between the City of Tamarac, Broward County, lenders, developers, construction contractors, and nonprofit organizations to produce, acquire and rehabilitate affordable housing. The partnerships help ensure the program is efficient and effective by combining resources whenever possible. Page - 3 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 The partnership process enhances the Local Housing Assistance Plan by uniting the strengths of public, private, and nonprofit organizations. The Gity brings FegUlatGFY TWr M rP.V Z Mr.-7.M.M., Strategies, such as the Owner Occupied Home Rehabilitation Program, represent a partnership between the City and Tamarac residents. The Owner Occupied Home Rehabilitation Program compliments current City programs to upgrade the water supply system, improve storm water drainage, pave all the City streets and install new landscaping. The rehabilitation of existing affordable housing improves the aesthetics of neighborhoods, reduces code compliance issues, and can inhibit vandalism and crime. F. Leveraging The LHAP is intended to increase the availability of affordable residential units by combining local resources and cost saving measures into a local housing partnership and using public and private funds to reduce the cost of housing. SHIP funds may be leveraged with or used to supplement other Florida Housing Finance Corporation programs and to provide local match to obtain federal housing grants or programs. Funds from the U.S. Housing and Urban Development Department's Community Development Block Grants (CDBG) and Home Investments Partnerships (HOME) programs may also be used to leverage SHIP funds. G. Public Input A citizen advisory committee met in 2000 to create a five-year consolidated plan for the City's affordable housing programs. The committee conducted several meetings and received input from numerous individuals and organizations representing housing, nonprofit organizations, and low-income advocates, The information from the public and updated census data was used to identify needs, goals, and objectives for the City's housing programs. Funding from SHIP, CDBG, and HOME programs will be used to help meet the identified needs. The City -Commission reviewed and adopted by resolution the 2000 — 2005 Consolidated Plan as well as the committee and public's recommendations for the use of state and federal funding. This LHAP is consistent with the adopted Consolidated Plan. Public input for this plan was also solicited through face-to-face meetings with housing providers, social service providers, local lenders and neighborhood associations. Public input was solicited through the local newspaper in the Page - 4 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 advertising public hearings for the LHAP with the Planning Board and the City Commission. Finally public input was also collected through advertising the Notice of Funding Availability for past SHIP funding in public newspapers. H. Advertising and Outreach The availability of SHIP program funding will be advertised in local and regional newspapers, on the City's web site, and the City's newsletter. Clients will be referred to the program from a variety of sources including staff outreach, community groups, and investor's meetings. Flyers and brochures will be available at City public facilities including City Hall and the Community Center, at County facilities including the Government Center and Tamarac Branch Library, and will be distributed to local community groups. City staff and the City's administrative consultant staff of Broward County will be available to answer questions and provide guidance on the programs. If no funding is available due to a waiting list, a Notice of Funding Availability will not be advertised. 1. Discrimination All Federal, state, and local fair housing acts and anti -discrimination laws shall be in effect. In accordance with the provisions of ss.760.20-760.37, discrimination 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 is prohibited. J. Support Services and Counseling All eligible persons receiving home purchase assistance under the SHIP program, except where noted, will be required to complete a housing counseling program which may address personal budgeting, home inspection and maintenance, preparation for homeownership and other pertinent topics. A nonprofit organization or other designated organization or person(s) will provide homeownership counseling. Money allocated will be used to provide books, resource materials, etc. Topics covered will include, but are not limited to: a. Renting/Owning terminology b. Real Estate Loans c. Do -It -Yourself Classes d. Title Insurance e. Sales Contracts f. Home Safety g. Credit Repair/Counseling h. Personal Budgeting Page- 5-of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 K. Purchase Price Limits The sales price or value of new or existing eligible housing may not exceed 90% of the median area purchase price in the area as established by the U.S. Department of the Treasury Revenue Proclamation 2004-18. Location Tamarac, Broward Co. 90% Median New 90% Median Existing Home Sales Price Home Sales Price, $ 280,462.00 $ 280,462.00 L. Income Limits, Rent Limits and Affordability The Income and Rent Limits used in the SHIP Program are updated annually from the Department of Housing and Urban Development and distributed by Florida Housing Finance Corporation. "Affordable" means that monthly rents or mortgage payments including taxes and insurance do not exceed thirty (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 thirty (30) percent of its income for housing, and housing for which a household devotes more than thirty (30) percent 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 thirty (30) percent benchmark and in the case of rental housing does not exceed those rental limits adjusted for bedroom size. M. Wages to Work Should an eligible sponsor be used, the City 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. The City will also give preference to eligible home rehabilitation contractors that employ personnel from Wages and Workforce Development Initiative programs. N. Monitoring and First Right of Refusal in the case of rental housing, the City or its consultant will annually monitor and determine tenant eligibility or, to the extent another governmental entity provides the same monitoring and determination, the City 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 fifteen (15) years or the term of assistance which ever is longer unless as specified above. Page - 6 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 Eligible sponsors that offer rental housing for sale before fifteen (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. 0. Administrative Budget A detailed listing including line -item budgets of proposed Administrative Expenditures is attached as Exhibit A. These are presented on an annual basis for each State fiscal year submitted. All funds received from the State pursuant to the SHIP act and any funds received or budgeted to provide funding for the program shall be deposited into the Local Housing Assistance Trust Fund. The moneys deposited in the Local Housing Assistance Trust Fund shall be used to administer and implement the LHAP. The City of Tamarac Local Housing Partnership has determined that five (5) percent of the local housing distribution is insufficient to pay necessary costs of administering the program and has allocated no more than ten (10) percent of the SHIP funds to be applied towards administrative expenses. The City of Tamarac has adopted the above findings in the attached resolution, Exhibit E. P. Controlling Clause in Issues of Conflict Projects receiving assistance from the SHIP program and from other state or federal programs which have conflicting verification certification and monitoring requirements shall comply with the most restrictive requirements. Q. Contractual Compliance with Program Requirements As a condition of receipt of an award, the eligible person or eligible sponsor must contractually commit to comply with the affordable housing criterion established under the SHIP program. R. Homeownership and Construction Set -Aside Requirement a. A minimum of 65% of the funds made available under the program will be reserved for providing owner occupied housing including rehabilitation and purchase assistance. b. A minimum of 75% of program funds will be provided for rehabilitation or emergency repair of affordable housing. Page - 7 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 S. Maximum Loan Terms Loans issued using SHIP funds may not have terms exceeding 30 years, except for deferred payment loans that continue to serve eligible persons. T. Recapture of Funds All eligible owner -occupied housing constructed, rehabilitated, or otherwise assisted from proceeds provided under the program is subject to specific recapture requirements established for each program. U. Encumbrance and Expenditure Time Frames All SHIP funds for each State Fiscal Year will be obligated by June 30 following the end of that fiscal year. Program funds must be expended within 24 months of the close of the applicable State fiscal year. V. Plan Amendments The Local Housing Assistance Plan will be amended if the City Commission determines that a strategy will not be used, needs modification, or a new strategy is required. If at any time during the approved plan period the partnership is unable to comply with any provisions of this plan, the Florida Housing Finance Corporation will be notified. W. Program Income/Recapture Funds "Program Income" is the proceeds derived from interest earned on or investment of local housing distribution funds and other funds deposited into the Local Housing Assistance Trust Fund including proceeds from loan payments and all other income derived from use of funds deposited into the Local Housing Assistance Trust Fund. "Recapture Funds" are recouped by the City in accordance with the recapture provisions of the Local Housing Assistance Plan pursuant to 420.9075(4)(g), Florida Statutes, from eligible persons or sponsors who default on the terms of a grant award or loan award. Within the City, recapture may be triggered by the sale &a or take cash equity out of their assisted property during the loan period or default on the terms of a grant award or loan award. Recapture funds are also deposited into the Local Housing Assistance Trust Fund to be used for affordable housing projects under this plan. Page - 8 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 X. Eligible Person or Household a. An eligible applicant is one or more natural persons or families who qualified by annual gross income and household size. For activities requiring proof of ownership to qualify, the following types of verification may be accepted: i. Warranty Deed ii. Quit -Claim Deed iii. Long Term Lease iv. Homestead Exemption v. Tax Records vi. Life Estate b. For income certification purposes for all applicants that are married but separated, the City will count the income of both spouses to determine eligibility unless the applicant can demonstrate that the spouse is: i. Not living at the current residence and has no intentions of living at the residence. ii. Not contributing to the household income. The amount of any spousal contribution to the applicant will be utilized to compute the applicant's income. iii. Examples of accepted documentation showing that the spouse does not contribute to household income include GOU deGumentation of sepaFation, jLlorida does not recognize legal separation) a sworn affidavit with both spouses' signatures, or fiYe (5) to ten (10) consecutiw-years of federal income tax returns showing the applicant has filed as siAgle separately, or a lease agreement showing the residential address for the estranged spouse. Y. Eligible Housing Types Eligible housing is any real and personal property, excluding mobile homes, located within the City of Tamarac which is intended for the primary purpose of providing decent, safe, and sanitary residential units that are designed to meet Chapter 553, Florida Statutes, including: a. Detached Single -Family Housing b. Condominium Unit c. Townhouse d. Villa e. Multi -Family Rental Units f. Manufactured Building that bears an approved device or seal issued by the State of Florida Department of Community Affairs. Page- 9-of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 Z. Special Needs Special needs persons are identified as persons who are physically disabled, developmentally disabled, abused or neglected children, mentally ill individuals, substance abusers, or persons with HIV and/or AIDS. 11. LHAP HOUSING STRATEGIES A. Strategy 1 — GWROF 0ecupied Ho Housing Rehabilitation Program a. Summary The Housin Rehabilitation Program,-lse called the Heme Rehab PregFaFA, makes loans fOF the puFpese Gf home repair, FeReyation_, weatherizatien, shall provide assistance needed to correct health or safety issues, address code violations, brines the home up to local or state building code, or modification. Leans may also be used to eliminate Gade violations, upgrade FnajGf b. Fiscal Years Covered This strategy is included for fiscal years 2004-2005, 2005-2006 and 2006-2007. c. Income Categories Served This strategy serves households in the following categories; very low income (0 -50% of area median income), low income (50 — 80% of area median income), and moderate income (80 — 120% of area median income). Individual incomes are adjusted for family size. d. Maximum Award The maximum award for the Home Rehab Program is $15,000 30 000. e. Terms, Recapture, Default i. Deferred payment loans will be secured by a lien against the property rehabilitated. ii. The loan will be structured as a five (5) year, zero (0) percent interest deferred payment loan. iii. There will be a twenty (20) percent yearly loan write -down, forgiven at a rate of twenty (20) percent per year for a period of five (5) years. iv. There is a pro -rate repayment due upon the sale or transfer of the property or if cash equity is taken out within the five (6) year loan term. Extenuating circumstances will be evaluated on a case -by -case basis. Page - 10 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 v. SHIP assisted property may be sold during the affordability period (five (5) year loan term) with reduced payment of SHIP assistance required at all times during the affordability period. Recipient Selection Criteria i. Eligible homeowners will be selected on a first -come, first -serve basis, within income groups from all eligible applicants. Special needs eligible applicants will be given first priority by income level in the following order: very low-income, low-income, and moderate -income levels. ii. Property must be owner occupied. iii. Verification of ownership, income, and payment of property taxes will be conducted to determine eligibility. g. Additional Information L Eligible contractors will be selected through a bid process to perform repairs under this strategy. The selection will be based on experience, past performance, and financial stability. Preference will be given to eligible contractors that employ personnel from Wages and Workforce Development Initiative programs. ii. The home must not be in violation of any housing codes after rehabilitation. B. Strategy 2 — Target Area Housing Rehabilitation Proaram a. Summa!y To assist with the preservigg of the current housing stock of the City of Tamarac, neighborhoods and subdivisions within the city limits have been identified that demonstrates the need to correct health or safety issues, address code violations, brings the home ur) to local or state building code, or modification to improve accessibili!y and safgty as needed for older and/or disabled persons. b. Fiscal Years Covered This.��ge Y is included for fiscal years 2004-2005, 2005-2006 and 2006-2007. c, Income Categories Served This strategy serves households in the following categories; ve!Y low income (0-50% of area median income), low income (50-80% of area median income), and moderate income_(80-120% of area median income). Individual incomes are ad'usted for family size. Page -11 -of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 d. Maximum Award The maximum award for the Target Area Housing Rehabilitation Program is $40,000. Terms, Recapture, Default L Deferred payment loans will be secured by a lien against the property gurchased. ii. The loan will be structured as a five (5) year, zero (0) gercen interest deferred payment loan. iii. There will be a twenty (20). percent yearly loan write -down, foMiMen at a rate of twen!y-(20) percent per year for a period of five (5) years. iv. There is a pro -rate repayment due upon the sale or transfer of the propedy-or upon the applicant refinancing. v. SHIP assisted property may be sold during the affordability period (five (51 year loan term) with reduced payment of SHIP assistance reguired at all times during the affordability period. Recipient Selection Criteria i. Eliaible homeowners will be selected on a first -come, first -serve basis, within income groups from all eligible applicants. Special needs eligible applicants will be given first priority by income level in the following order- ve!y low-income, low-income and moderate -income levels. ii. Prope[!y must be owner occupied. iii. Verification of ownership, income and payment of prope!:!y taxes will be conducted to determine eligibilily, g, Additional Information L Eligible contractors will be selected through a bid process to perform repairs under this strategy. The selection will be based on experience, past performance, and financial stability. Preference will be given to eligible contractors that employ personnel from Wages and Workforce Develogment Initiative programs. ii. The home must not be in violation of any housing codes after rehabilitation. C. Strategy 2 3— Down Payment Assistance Plan a. Summary The Down Payment Assistance Program assists eligible first-time homebuyers with a deferred loan to be applied towards down payment, closing costs, principal reduction, or rehabilitation for the purchase of eligible owneF eeoupied housing, including single-family homes, townhouse, condominiums, or villas. Page - 12 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 b. Fiscal Years Covered This strategy is included for fiscal years 2004-2005, 2005-2006 and 2006-2007. c. Income Categories Served This strategy serves households in the following categories; very low income (0 -50% of area median income), low income (50 — 80% of area median income), and moderate income (80 — 120% of area median income). Individual incomes are adjusted for family size. d. Maximum Award L The Down Payment Assistance Program maximum award for very low income households is $40,000- 20 000. ii. The Down Payment Assistance Program maximum award for low income households is $8,Q0&- 20 000. iii. The Down Payment Assistance Program maximum award for moderate income households is $4,900- 10 000. e. Terms, Recapture, Default i. Deferred payment loans will be secured by a lien against the property purchased. ii. The loan will be structured as a five (5) year, zero (0) percent interest deferred payment loan. iii. There will be a twenty (20) percent yearly loan write -down, forgiven at a rate of twenty (20) percent per year for a period of five (5) years. iv. There is a pro -rate repayment due upon the sale or transfer of the property or if eash equity is taken out within the five (6) yeaf teams teFm- v. SHIP assisted property may be sold during the affordability period (five (5) year loan term) with reduced payment of SHIP assistance required at all times during the affordability period. f. Recipient Selection Criteria i. Eligible applicants will be selected on a first -come, first -serve basis, within income groups with special needs persons given first priority. q:ble applicants mup�-st_rovide a„ pre -qualification Eli . letter from a Participating lender in addition to submitting an application for assistance. ii. Program participants must complete a home ownership counseling program prior to the loan closing. iii. Program participants must not own any other property used for residential purposes. Page - 13 - of 18 City of Tamarac SHIP Program L.HAP FY 2004-2007 iv. The applicant must be a first-time homebuyer. A first-time homebuyer is defined as not having owned a home within the past three years, a single parent with children under the age of eighteen (18) who has recently been divorced and displaced, a displaced victim of domestic abuse, or a person displaced as a result of governmental action. v. The home to be purchased must be located in the City of Tamarac. vi. The purchase price of the home may not exceed the maximum sales price allowed in the SHIP program as updated each year. vii. The applicant must contribute a minimum of three (3) percent of the purchase price (including prepaids) towards the purchase of the home and must have the three (3) percent at the time of closing. viii. The applicant must reside in the home being assisted within 60 days after the closing. ix. The Downpayment Assistance Program cannot be utilized when the seller of the property provides financing for the mortgage. g. Additional Information i. The lender may not charge more than 2 points for loan origination fees. ii. Interest rates must be fixed for the term of the loan. r ■ — — — any — ■ ■ ■ ■ ■ ■ ISM � — ■ �� ■ — A. Page - 14 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 , XNA074 - - - -ZrMIN - - ;:M: Mit ISM D. Strategy 4 — Disaster Relief Summary SHIP funds may be used to provide emergency repairs to very low, low and moderate -income households following a natural disaster as declared by the President of the United States, Governor of the State of Florida, or the City Commission of the City of Tamarac. In the event of a disaster, any unencumbered funds will be used to address the needs of those affected by the disaster. Page - 15 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 Funds may be used for items such as, but not limited to, purchase of emergency supplies for eligible households to weatherproof damaged homes, interim repairs to avoid further damage, tree and debris removal required to make the housing unit habitable, post disaster assistance with non-insured repairs, and soft costs required to process assistance applications. This strategy will only be implemented in the event of a natural disaster using funds that have not yet been encumbered. b. Fiscal Years Covered This strategy is included for fiscal years 2004-2005, 2005-2006 and 2006-2007. c. Income Categories Served This strategy serves households in the following categories; very low income (0 -50% of area median income), low income (50 -- 80% of area median income), and moderate income (80 - 120% of area median income). Individual incomes are adjusted for family size. d. Maximum Award The maximum award for the Disaster Relief Program is $15,000. e. Terms, Recapture, Default i. Applicants requiring $7,500.or less in assistance will be in the form of a grant with no recapture. Applicants requiring 17,500.01 or more will be subject to a- D deferred payment loan and s may be secured by a lien against the assisted property if tO FeGapiure fe-Sm.s If a repair is of a permanent nature, the required loan will be structured as a five (5) year, zero (0) percent interest deferred payment loan and the following terms will apply. 1. There will be a twenty (20) percent yearly loan write- down, forgiven at a rate of twenty (20) percent per year for a period of five (5) years. 2. There is a pro -rate repayment due upon the sale or transfer of the property or if cash equity is taken out within the five (5) year loan term. Extenuating circumstances will be evaluated on a case -by -case basis. 3. SHIP assisted property may be sold during the affordability period (five (5) year loan term) with reduced payment of SHIP assistance required at all times during the affordability period. Page - 16 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 Recipient Selection Criteria i. Applications will be selected on a first -come, first -serve basis to persons with damage from a declared disaster. Applications for disaster assistance will be given priority above others on a wait list for other strategies. ii. Property must be owner occupied. iii. Verification of ownership, income, and payment of property taxes will be conducted to determine eligibility. g. Additional Information i. Funds will not be allocated except in the case of a declared disaster. ii. Eligible contractors will be selected utilizing the City's existing contracts, purchasing procedures and policies, and emergency plan which go into effect in the event of a declared emergency. III. LHAP INCENTIVE STRATEGIES A. Incentive Strategy 1 — Expedited Permitting a. Permits, as defined in s. 163.3164(7) and (8), for affordable housing projects are expedited to a greater degree than other projects. b. The City expedites the processing of affordable housing permits through a pre -application conference. c. Affordable housing projects are identified by sales price consistent with the SHIP program's housing value limits. d. The Building and Community Development Departments have employees that serve as liaisons with developers of affordable housing to assist in the permit process. e. Affordable housing projects are stamped "EXPEDITED." B. Incentive Strategy 2 — Ongoing Review Process a. The City has developed a process to consider the impact of policies, procedures, ordinances, regulations, or plan revisions on affordable housing and housing costs prior to adoption by the City Commission. b. The City employs a public participation process with the City Commission and other advisory groups and committees to consider impacts of decisions on affordable housing and housing costs. c. The City Commission meets twice per month during which the public's input is sought on issues that have an impact on the cost of housing. Page - 17 - of 18 City of Tamarac SHIP Program LHAP FY 2004-2007 C. Incentive Strategy 3 — Zero Lot Line Development a. The City allows zero lot line development. b. Zero lot lines maximize available land for affordable housing and help maintain affordable housing costs within the City. 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