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State Housing Initiative Partnership Program Special Needs Loan Agreement With Mid Florida Community Services, Inc., for Construction of Home Located at 16154 La Bella Street in Brooksville
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BRIEF OVERVIEW
During the 2013 Florida Legislative session the Legislature approved requiring at least 20% of State Housing Initiative Partnership (SHIP) funding to be used for special needs households as defined in section 420.0004(7), Florida Statutes. Local governments could meet these requirements through currently approved strategies or by incorporation new strategies, prioritizing funding for persons with developmental disabilities as defined in section 393.063(9).
To meet the State requirements, the Housing Authority has been working with the Mid Florida Community Services, Inc., to construct a new home to meet the State’s funding requirements. Mid Florida Community Services, Inc., has submitted a funding request for $75,000.00 to construct a new home located at 16154 La Bella Street, Brooksville, Florida. The home will be built using green building products. This home will be occupied by a family that has a household member who meets the special needs definition.
FINANCIAL IMPACT
Funds are budgeted: Expense to Fund #1271, Division #35051 Account #5303424.
LEGAL NOTE
The Board may act pursuant to the State Housing Initiative Partnership Act, Section 420.907, et. F.S.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached Ship Loan Mortgage, SHIP Promissory Note and Land Use Restriction Agreement between Hernando County and Mid Florida Community Services, Inc.