(A) The Hollywood Local Housing Assistance Program is hereby established. The program shall use funds held in trust to:
(1) Provide local matching funds in order to obtain federal housing grants for the city's state-sponsored HOME Program. More specifically, the housing trust funds will provide the local match for the city's HOME Owner-occupied Rehabilitation Program. The city's HOME Owner-occupied Rehabilitation Program shall provide low interest rehabilitation loans ranging from $5,000 to $20,000 to low income families owner-occupying single-family or small, multi-family (1-4) units within the city. This program shall target low income families with incomes falling between 51%-80% of the median income, assisting them through a direct payback loan which can be paid over a maximum period of 20 years.
(2) Provide a locally-designed strategy that expands home ownership. This strategy shall focus on opening up home ownership possibilities to low and moderate income residents and preserving housing stock through rehabilitation activities. The SHIP First-time Home Buyer component to the program will be implemented after the start-up year once SHIP funding levels have increased sufficiently to support this program. Once initiated, the SHIP First-time Home Buyer Program shall provide down payment and closing costs assistance to eligible low and moderate income Hollywood residents who are first-time home buyers. The city will assist in identifying low interest permanent financing with area lending institutions and, if necessary, provide rehabilitation loans through its HOME and CDBG Rehabilitation Programs. The assistance may be used for single-family or duplex units, for either new construction or existing housing including condominium and cooperative units, as well as for housing requiring moderate rehabilitation. Eligible applicants will be required to contribute at least 3% of the sales price toward down payment costs and attend pre-purchase counselling sessions. Pre-purchase counselling, consisting of credit counselling, home buyer maintenance and budgeting counselling sessions, will prepare renters for home ownership. Post-purchase counselling will monitor the adaptation of first-time home buyers to their new home ownership roles after the closing on SHIP-assisted home purchases.
(3) Provide emergency repair loans to very low-income and low-income persons who own and occupy their place of residence. The SHIP Emergency Repair Program, modeled after the city's current Community Development Block Grant (CDBG) program, shall provide emergency loans to very low, and low-income single-family or duplex home owners to repair code violations that pose health and safety hazards and require immediate attention. These loans are intended to offer minimum emergency assistance to home owners who own and occupy substandard housing in the city and meet the very-low or low-income eligibility criteria for participation. The city shall inspect qualified applicants' homes for code violations on a priority basis and accelerate processing of repairs. In addition, the city shall provide cost estimates, prepare bid specifications for the required repairs, and monitor the quality of all work performed. Very low-income and low-income persons who are subject to an outstanding order of the city's Code Enforcement Board or a Special Master or a Special Magistrate shall also be eligible for loans under this subsection.
(4) The city shall seek developers, contractors, and other organizations willing to construct affordable housing and rehabilitate housing in the city up to the Florida Building Code standards in effect in Broward County, Florida, as revised from time to time, offering such incentives as the city adopts in its local housing assistance plan. Site selection for new owner or rental projects will be consistent with the Land Use Element of the city's Comprehensive Plan.
(B) The city's affordable housing task force shall monitor the implementation of the local housing assistance plan. This task force consists of representatives from the CDAB, the Affordable Housing Advisory Committee, and includes the city's SHIP Administrator. This task force constitutes the city's local housing partnership pursuant to the Act. The local housing partnership shall facilitate program implementation by:
(1) Working with the local housing assistance plan administrator to identify prospective applicants and facilitate low interest loans;
(2) Advertising the availability of HAP programs; and
(3) Holding workshops to educate potential homeowners on the benefits of the HAP programs.
(C) The cost of administering this program shall not exceed 10% of the SHIP funding guaranteed from the state. The local housing assistance program shall include all other lawful objectives not previously listed if the objectives have been adopted into the city's local housing assistance plan in the manner provided by statute.
(Ord. O-92-68, passed 12-16-92; Am. Ord. O-93-14, passed 4-21-93; Am. Ord. O-96-07, passed 2-28-96; Am. Ord. O-2005-02, passed 3-2-05)