Transcript SHIP Local Housing Assistance Plan Workshop

State Housing Initiatives
Partnership Program (SHIP)
Growth Management
Housing Programs Office
Provides funding to create
private/public sector
partnerships to produce and
preserve affordable
homeownership and rental
housing.
2009-2011 Local
Housing Assistance Plan
(LHAP)
Program Issues
Rental Deposit Program
● Location of eligible apartment units (Demand)
- County-wide or
- Restrict to outside City of Gainesville
Home Repair and New Construction Programs
● Developer Fee As a Grant or Loan
Mortgage Term Requirements:
● Ten Year VS. Thirty Year Mortgages
Pilot Rental Deposit Program
► Original Recommendation
Restrict apartment location to outside of City of Gainesville
unless no other deposit program is currently available.
►Revised Recommendation
Make Rental Deposits Assistance available county-wide.
Set aside at least 30% of all funding shall be for eligible units
outside the City of Gainesville to ensure availability of
program for units in unincorporated areas and small cities in
Alachua County.
Growth Management
Housing Programs Office
Developer Fee as a grant or a
deferred loan
Original Recommendation:
All developer fees charged for
production or preservation of
affordable housing should be a grant
Developer Fee as a grant or loan
Growth Management
Housing Programs Office
Revised Recommendation:
For home repairs/home
replacement: Grant
For new construction:
deferred payment loan
Growth Management
Housing Programs Office
Ten Year Vs. Thirty Year
Deferred Payment Loan
Original
Recommendation:
10 year deferred payment
loans in lieu of 30 years
Revised Recommendation:
Remains Unchanged
Ten Year or Thirty Year Loan
Growth Management
Housing Programs Office
Allows homebuyers to tap into home
equity to address financial needs
Retirement
Home Repairs
College Education
Refinancing Probate
Reverse Mortgages
Reduces loan servicing by 20 years:
Subordination Requests
Refinancing
Notice of defaults; foreclosure
Recommendations Summary
Approve Alachua County State Fiscal Years (SFY)
2009-2011 State Housing Initiatives Partnership
(SHIP) Local Housing Assistance Plan (LHAP) ;
approve and authorize Chairman to sign
Resolution 08-__ and to sign Certification to
Florida Housing Finance Corporation.