Subject:
Title
Adoption of FY 2021-2024 State Housing Initiatives Partnership (SHIP) Local Housing Assistance Plan (LHAP) and approval of the Incentive Strategies Evaluation and Recommendations Report.
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Fiscal Impact:
FY 20-21 - All SHIP funds received will be deposited in Fund 1490.
FY 21-22 - All SHIP funds received will be deposited in Fund 1490.
For State Fiscal Year (SFY) 2021-22, Brevard County is estimated to receive $2,218,929 in SHIP funds.
Dept/Office:
Housing and Human Services
Requested Action:
Recommendation
It is requested that the Board of County Commissioners: (1) adopt the State Housing Initiatives Partnership (SHIP) Program Local Housing Assistance Plan (LHAP) for Fiscal Years 2021 through 2024 by Resolution; (2) approve the Incentive Strategy Evaluation and Recommendations Report; (3) authorize the Chair to sign the required State Certifications and any amendments that the Florida Housing Finance Corporation determines necessary to meet the requirements of State Statutes 420.907-9076; and, (4) authorize the County Manager to approve any related budget change requests.
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Summary Explanation and Background:
Every three years, Florida Statute 420.9075 requires each county participating in the SHIP program to submit a three-year Local Housing Assistance Plan (LHAP) that describes the Strategies and criteria for expenditure of State Housing Initiatives Partnership (SHIP) funds. The SHIP program was created for the purpose of providing funds to counties and eligible municipalities as an incentive for the creation of local housing partnerships, to expand production and preservation of affordable housing and for furthering the housing element of the local Government's Comprehensive Plan. The SHIP program funding is dependent on revenue collected by the State through documentary stamp taxes and administered by the Florida Housing Finance Corporation (FHFC). For State Fiscal Year (SFY) 2021-22, Brevard County is estimated to receive $2,218,...
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