1 / 8

State Housing Initiatives Partnership Program (SHIP)

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).

sienna
Download Presentation

State Housing Initiatives Partnership Program (SHIP)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 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)

  2. 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

  3. 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.

  4. Developer Fee as a grant or a deferred loan Growth Management Housing Programs Office Original Recommendation: All developer fees charged for production or preservation of affordable housing should be a grant

  5. 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

  6. Ten Year Vs. Thirty Year Deferred Payment Loan Growth Management Housing Programs Office Original Recommendation: 10 year deferred payment loans in lieu of 30 years Revised Recommendation: Remains Unchanged

  7. Ten Year or Thirty Year Loan 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 Growth Management Housing Programs Office

  8. 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.

More Related