Community Development Division will be responsible for implementation and administration of all or part of the Local Housing Assistance Program as follows.
(A) To provide advice and to recommend to the City Commission whether and in what ways the Local Housing Assistance Program might be improved.
(B) To coordinate with the Florida Housing Finance Agency in facilitating the funding of State Apartment Incentive Loan (SAIL) Program loans and in setting up advertisements and workshops to advise potential homebuyers of the Homeownership Assistance Program (HAP) and inform non-profit developers and community-based organizations of the Housing Predevelopment Trust Fund (HPTF) program.
(C) To work with the Local Housing Partnership to coordinate local programs such as community loan funds, inclusionary housing programs, and linkage programs, with state programs such as the Housing Predevelopment Trust Fund, Homeownership Assistance Program (HAP), Single family Mortgage Revenue Bond (MRB) Program, and with federal programs such as the Community Development Block Grant (CDBG) Program, Home Investment Partnership Program (HOME), Low Income Rental Housing Tax Credit (LIHTC) Program, and Section 8 Rental Assistance so as to maximize the production of eligible housing through the Local Housing Assistance Program.
(D) The Local Housing Assistance Program shall be implemented by the city based on the following guidelines:
(1) The city shall advertise the availability of a housing assistance program in a newspaper of general circulation and periodicals serving ethnic and diverse neighborhoods, at least 30 days before the beginning of any application period.
(2) The city shall adopt a maximum award schedule or system of awards to comply with the following criteria:
(a) Sixty-five percent of the funds shall be reserved for home ownership for eligible persons.
(b) Seventy-five percent of the funds shall be reserved for construction, rehabilitation or emergency repair of eligible housing.
(c) The sales price of new or existing eligible housing shall not exceed 90% of the median area purchase price in the area where the eligible housing is located as established by the United States Department of Treasury in accordance with Section 3(b)(2) of the United States Housing Act of 1937.
(d) All units constructed, rehabilitated, or otherwise assisted with program funds shall be occupied by very low income, low income, or moderate income persons and persons who have special housing needs. At least 30% of units must be occupied by very low income persons and at least another 30% by low income persons. The remainder shall be occupied by persons who have special housing needs, very low income, low income or moderate income persons.
(e) The amount of monthly mortgage payments or the amount of monthly rents charged by the eligible sponsor or its designee must be affordable to eligible persons.
(f) Loans shall be provided for periods not exceeding 30 years except for deferred payment loans or loans that extend beyond 30 years which continue to provide eligible housing for eligible persons.
(g) Eligible owner-occupied housing constructed, rehabilitated or otherwise assisted from proceeds provided from the Local Housing Assistance Program shall be subject to subsidy recapture provisions which are identical to those specified in Section 143(m) of the Internal Revenue Code of 1986.
(h) Eligible rental housing constructed, rehabilitated or otherwise assisted from proceeds provided from the Local Housing Assistance Program shall be reserved for eligible persons for the greater of 15 years of the term of the assistance. Eligible sponsors who offer eligible rental housing for sale before 15 years or that have remaining mortgages funded under the Local Housing Assistance Program must give a first right of refusal to eligible non-profit organizations for purchase for continued occupancy by eligible persons.
(i) The cost per unit and the maximum cost per unit for eligible housing benefiting from awards made pursuant to the Local Housing Assistance Program shall be established by resolution.
(j) A qualification system for applicants for awards consistent with the intent of the Local Housing Assistance Program and F.S. §§ 420.907 through 420.9079 shall be established by the city.
(k) The Community Development Division or third party contractor administering the Local Housing Assistance Program for rental developments shall annually monitor and determine tenant eligibility and amount of subsidy.
(3) The city and all eligible sponsors shall not discriminate in the loan application process of eligible persons for eligible housing on the basis of race, creed, religion, color, age, sex, marital status, familial status, national origin, or handicap.
(4) The city shall comply with all rules and regulations of the Florida Housing Finance Agency in connection with required reporting by the city of compliance with its Local Housing Assistance Program.
(5) Prior to receiving an award, all eligible persons or eligible sponsors shall enter into an agreement to comply with the affordable housing criteria provided in F.S. §§ 420.907 through 420.9079 and this chapter. All eligible persons or eligible sponsors shall include in the deed transferring ownership of the property to the eligible person or eligible sponsor a covenant agreeing to comply with the terms of the above described laws, which covenant will run with the land or in the alternative, the agreement shall be made a part of the mortgage agreement. Failure to comply with the covenant in the mortgage shall result in a default of the mortgage with all remedies and rights for enforcement inuring to the benefit of the city.
(6) Eligible sponsors receiving assistance from both the SHIP and the Low Income Housing Tax Credit (LIHTC) Program shall be required to comply with the income, affordability, and other LIHTC requirements. Similarly, any eligible person receiving housing assistance from SHIP and other federal programs shall be required to comply with any requirements specified by the federal program in addition to SHIP requirements.
(Ord. 93-56, passed 7-20-93)