LOCAL HOUSING ASSISTANCE PLAN-PROGRAM INFORMATION SHEET
I
I
State Housing Initiatives Partnership (SHIP) Program
Local Housing Assistance Plan
Program Information Sheet
Please complete the following information
WCAL GOVERNMENT: City of Clearwater
CHIEF ELECTED OFFICIAL: Mayor Rita Garvey
ADDRESS: City of Clearwater - P,O. Box 4748 - Clearwater, Florida 34618-4748
(112 South Osceola Avenue - Clearwater, Florida 34616)
TELEPHONE: ( 813 )
462-6700
FAX: (813 ) 462-6720
CONTACT PERSON: Alan 1. Ferri. Director, Economic Development Department
ADDRESS: P.O. Box 4748 - Clearwater, Florida 34618-4748
(10 South Missouri Avenue - Cl~ater. Florida 34616)
"
TELEPIIONE:(813)
462-6882
FAX: ( 813 ) 462-6476
INTERLOCAL AGREEMENT: ~/NO (If yes, list other participants in the interlocal agreement)
(!he following information must be furnished to the Agency before any funds can be disbursed)
LOCAL GOVERNMENT EMPWYER FEDERAL ID NUMBER:
59-6000289
MAIL DISBURSEMENT TO: City of Clearwater - Finance Department - Att: Came Biarkman
ADDRESS: P.O. Box 4748 - Clearwater. Florida 34618-4748
(112 South Osceola Avenue - Clearwater, Florida 34616)
(3/95)
/ 0 ( /} " "
l.....' ," ~r ,,,,-/... ,
, ....." -
{>; i
_1/, /
I I
STATE HOUSING INITIATIVES PARTNERSHIP
LOCAL HOUSING ASSISTANCE PLAN (LHAP)
CITY OF CLEARWATER, FLORIDA
STATE FISCAL YEAR 1996/97
(July 1,1996 through June 30,1997)
I. LOCAL HOUSING ASSISTANCE PLAN
This Local Housing Assistance Plan (LHAP) sets forth the plans for all of the City of Clearwater for
State Fiscal Year (FY) 96/97 to increase the supply and delivery of safe, decent and affordable
housing to the City of Clearwater. This plan meets the provisions of Chapter 91-37, Florida
Administrative Code, State Housing Initiatives Partnership (SHIP) program Florida Statutes
Chapter 420.907 through 420.9079. Public input in the development of this Local Housing
Assistance Plan was solicited through:
The City's Neighborhood and Affordable Housing Advisory Soard (NAHAS) was fonned in 1995.
The NAHAS monitors and provides input to the Clearwater City Commission on implementation of
the Housing Element of the Comprehensive Plan; supports and advises the Economic
Development Department on development of a public constituency for affordable housing and
neighborhood improvement; initiates and supports creation of publicJprivate partnerships for
affordable housing and facilitates coordination of agencies engaged in affordable housing and
neighborhood improvement programs; and serves as affordable housing and neighborhood
improvement advocates on critical matters of public policy.
No more than a maximum of ten percent (10%) of the City's SHIP allocation will be used to cover
administrative expenses. Of the remaining ninety percent (90%) the funds shall be used by Local
Housing Partnerships to implement the following locally designed strategies.
In all strategies at least thirty percent (30%) of the units shall be occupied by very low income
persons; at least thirty percent (30%) of the units shall be occupied by low income persons; and no
greater than forty percent (40%) of the units shall be allocated to units occupied by moderate
income persons.
As required by statute, a minimum of sixty-five percent (65%) of all SHIP funds will be dedicated to
home ownership activities. The City has committed the City's Community Development Block
Grant funds for housing programs such as homeowner rehabilitation and new construction. This
emphasis will be continued under the SHIP program administered by the City of Clearwater.
As required by statute, a minimum of seventy-five percent (75%) of SHIP funds will be reserved for
construction, rehabilitation, or emergency rehabilitation. Administrative and organizational
resources now in place in the City of Clearwater are structured to continue the implementation of
construction, rehabilitation, and emergency rehabilitations.
Page 1 of 6
L:lDATAICOOISJ1JP AJF
I
I
A. SUDDort Services
Support services available to eligible persons and sponsors shall consist of the following:
Counseling
Home ownership counseling for first-time home buyers is currently being provided by
Economic Development Department Staff and such non-profits as Clearwater Neighborhood
Housing Services and Tampa Bay Community Development Corporation. The City also uses
established and accredited First-Time Home-Buyer education courses that are offered through
the Community Service Foundation.
II. LOCAL HOUSING PARTNERSHIPS
The City of Clearwater's public-private partnership is the Challenge 2000 Loan Program. The
City, through Challenge 2000, has created partnerships with area banks, local affordable
housing non-profits, title companies, local developers, and other organizations that are
engaged in the affordable housing business. Through these partnerships, the City has been
able to expand the supply of safe, decent, and affordable housing to many of its residents.
Without these partnerships, many families would still be living in unsafe and unsanitary
houshg, paying for rent, rather than experiencing the American dream of home ownership.
III. STRATEGIES
STRATEGY #1:
Rehabilitation of Existing Homes
The City, through its Housing Programs, finances rehabilitations for eligible very-low, low and
moderate income persons who own and occupy substandard housing units. The SHIP
subsidy will be in the form of a deferred payment loan (DPL) with no interest and no monthly
payment due unless the home is sold, rented, or ownership is transferred. In the case of a
DPL, a lien is placed against the property only as a recapture mechanism for the loan.
STRATEGY #2:
New Construction/DeveloDment of Housing Units
The City develops affordable housing units for eligible very-low, low, and moderate income
persons. The City and eligible sponsors acquire land to provide affordable housing units for
eligible persons. Eligible sponsors shall also be awarded funds to construct and/or develop
affordable housing for eligible persons.
Page 2 of 6
UOA T AICDOISHIP.AJF
1
I
The activities performed in this strategy supplement the City's Challenge Fund Program. The
assistance may remain in the unit as a deferred payment loans (DPL's) which carry no
Interest and low interest loans shall be available for very-low, low, and moderate income
persons through this strategy. In the case of a OPL, a lien is placed against the property
only as a recapture mechanism for the loan. The DPL loan is not due until the home is sold,
rented or ownership is transferred.
Payment of the principal amount of the DPL is deferred while the borrower remains the fee
simple owner and resides at the noted property, and no default of the terms of the mortgage
securing the note has occurred. Default will cause the note to become immediately due and
payable. Upon default, the City, at its option may prepare an alternative promissory note
requiring monthly payments of principal and interest. All payments on the alternative note
shall be applied first to interest to date of receipt, then to principal, then to late charges due.
During the deferred term the note will not accrue interest. The owner(s) reserve(s) the right
to pre pay the principal in whole or in part at any time without payment of premiums or
penalties. The note is secured by a mortgage duly filed for record in Pinellas County, Florida.
The City will continue SHIP Funds to provide the local matching funds/credits required for
Federal and State affordable housing programs. Federal HOME funds may be used to assist
eligible very-low, low, and moderate income first-time home buyers in the form of gap
financing.
The City may use SHIP funds as the Local Contribution when participating in such programs
as the Federal Low Income Housing Tax Credit or the Florida State Apartment Incentive Loan
(SAIL) Programs. In most cases the City will use HOME and SHIP funds to meet the required
local contribution of the total project funding for these types of projects. The SHIP funds
that are used in these types of projects will either be in the form of a Deferred Payment Loan
or Low Interest Loan.
STRA TEGY #3
Oownpavrnent Financing Assistance
The City, through its Affordable Housing Programs and through eligible sponsors, shall
provide funds for down payment, closing costs and gap financing for very-low, low, and
moderate income persons being assisted through the City of Clearwater's Challenge 2000
Program. The Challenge 2000 Program provides reduced rate mortgages to very-low, low,
and moderate income residents of the City of Clearwater. The program provides
downpayment assistance for eligible persons purchasing a home. The maximum gap
financing shall be $2,750. The maximum combined downpayment, closing costs, and gap
financing shall not be greater than $2,750. This assistance shall be in the form of a Deferred
Payment Loan (DPL) with no interest and no payment due unless the home is sold, rented,
or ownership is transferred. In the case of a OPL, a lien is placed against the property only
as a recapture mechanism for the loan.
Page 3 of 6
L:\DA r A\CDO\SHIP.AJf
I
I
Program Income
Program income that will be derived by the City from loan repayments, reimbursements, or
other repayments and interest earned on SHIP activities, shall be used exclusively for SHIP
eligible program activities other than salaries or administrative expenses.
Recapture Provisions
Eligible affordable housing units assisted with SHIP dollars may be subject to long-term
recapture provisions similar to those used under the Federal HOME Program. The terms of
the recapture provisions will depend on the type of assistance provided. The majority of the
DPL and Gap Liens issued under the Challenge 2000 Program will carry recapture and
affordability terms consistent with the HOME Program.
Compliance
The City will promptly notify the Florida Housing Finance Agency if at any time during the
term of this plan they will be unable to comply with the provisions of our LHAP.
IV. TIMElINE FOR EXPENDITURES
(See Attachment B)
V. AFFORDABllITY
The following chart, Exhibit I, based on Median Family Income, may be used to determine
qualification for an activity offered under one of the strategies within this plan. The chart
describes the Income Limits and Rental Rates adjusted for family sizes. "Affordable" means
that monthly mortgage payments, including taxes and insurance, do not exceed 30% of an
amount representing the percentage of the area median income limits for the family size for
that household, (i.e., very-low, low, or moderate income). It is not the intent to limit a
household's ability to devote more than 30% of its income for housing as long as the
amount does not exceed 30% of the area median income limits adjusted for family size for
the income category.
VI. ADVERTISEMENT AND OUTREACH
Outreach
The Outreach Strategy to identify potential eligible recipients is to work closely with our local
non-profit corporations who specialize in home ownership counseling, credit counseling and
homeowner rehabilitation programs, as well as existing City programs which target
neighborhoods and code compliance activities.
Outreach will be conducted via printed materials, newspaper ads and video tapes aired on
the local Government Access Television (GATV) to advertise availability of housing programs
Page 4 of 6
l:\DA T A\COO\SHIP.AJF
I
I
and funding sources. Strategies designed to select recipients of housing units to be built or
rehabilitated include:
1 . referrals to/from non-profits/for-profits, and
2. periodic "Open House" sessions wherein the City and many affordable housing related
organizations advertise for recipients and collect family size, income data and credit
histories to determine eligibility for various forms of housing and related services.
Selection
The City will continue to publish annually a "Notice of Fund Availability (NOFA)" while SHIP
funds are available, in local newspapers serving general circulation and ethnic diverse
neighborhoods. Selection of eligible sponsors is done by a "Request for Application" process
in which the applications are competitively ranked. Applications will be scored and ranked
no earlier than thirty (30) days after advertisement of the application period. A minimum low
score has been established and the main weighted categories are:
1. Does the activity benefit very-low and low income individuals?
2. If the activity to be performed in one of the City's CDBG Target Areas?
3. Does the activity result in home ownership?
4. What is percentage of other funds that will be used in the project?
SHIP funds will be advertised in a publication of general circulation at least thirty (30) days
prior to accepting applications.
Recioients
The selection of recipients shall be on a first-come/first-served preference for all income
eligible persons, except where certain hardship cases exist, which shall be determined by the
City. All possible efforts will be made to accommodate very-low and low income families
in order to exceed the minimum percentages required. Selection and the Expenditure of
Funds will be done in a manner which will insure that there will be no discrimination on the
basis of race, creed, color, age, sex, familial status, handicap, religion, or national origin.
Eligible persons and sponsors who are recipients of SHIP funds will be required to
contractually commit to the City of Clearwater and State of Florida SHIP Program and
Federal HOME Program rules and regulations. The City will strongly encourage all eligible
sponsors to attend all applicable SHIP/HOME workshops.
Sales Prices
The maximum sales prices of new or existing homes shall not exceed ninety percent (90%)
Page 5 of 6
L\OA '!" A\COO\SHIP.A.JF
)
I
of median purchase price as established by the U.S. Department of Treasury
as amended from time to time. (Exhibit II)
Program Strategies:
The Program Strategies described in our three strategies will result in a reduction of housing
costs to eligible recipients by:
1. relaxed lending requirements as a result of implementation of the Challenge Fund.
2.
below market interest rates.
3. create the opportunity for home ownership to many more very-low and low income
residents, and
4. to expand the supply of safe, decent, and affordable housing to the residents of the
City of Clearwater that would be unavailable without the implementation of our Local
Housing Assistance Program. In terms of our Partnerships, as we move further along
in our Programs, the Partnerships that have been developed will continue to
strengthen and we will also work to build new and lastir.g partnerships.
VII. ADMINISTRATION
The SHIP administration allocation of not-to-exceed 10% will be spent the following way:
SHIP Administrative Expenses (10% of Allocation)
I FY 95/96
Salaries & Benefits
Operating Equipment
TravelfTraining
Supplies
Memberships & Dues
$55,884.00
.00
.00
.00
.00
$55,884.00
TOTAL
VIII. CERTIFICATION PAGES
(See Attachment C)
Page 6 of 6
L;\OA T AICDOISHIP.AJF
I
I
EXHIBIT I
1996 MEDIAN INCOME- PINELLAS COUNTY
City of Clearwater
Economic Development Department
INCOME ELIGIBILITY LIMITS
by US Dept of HUD
Effective 12-07-95
Household Median 50% Median 80% Median 120%
Size Income (Very Low) (Low) Median
Income Income Income
1 Person $ 27,600 $ 13,800 $ 22,050 $ 33,100
2 Persons 31,500 15,750 25,200 37,850
3 Persons 35,500 17,750 28,350 42,550
4 Persons 39,400 19,700 31,500 47,330
5 Persons 42,600 21,300 34,050 51,100
6 Persons 45,700 22,850 36,550 54,850
7 Persons 48,900 24,450 39,100 58,650
8 Persons 52,000 26,000 41,600 62,450
GROSS (UNADJUSTED) MEDIAN HOUSEHOLD INCOME - $ 39,400
L:\OA T A\CDO\FORMS\INCOMEll.FRM
Revised 02107/96
I
I
EXHIBIT II
STATE HOUSING INITIATIVES PARTNERSHIP PROGRAM
* 90% OF MEDIAN AREA PURCHASE PRICE
LOCAL GOVERNMENT NEW EXISTING
Daytona Beach MSA 106,365 71,686
Fort Lauderdale PMSA 124,187 108,726
Fort Myers - Cape Coral MSA 121,536 102,242
Fort Pierce - Port St. Lucie MSA 92,644 95,682
Jacksonville MSA 106,017 92,490
Lakeland - Winter Haven MSA 87,121 57,535
Melbourne - Titusville - Palm Bay MSA 110,749 90,846
Miami PMSA 119,439 113,418
Naples MSA 106,365 118,264
Orlando MSA 95,838 101,707
Punta Gorda MSA 106,365 79,463
Sarasota - Bradenton MSA 106,711 94,995
Tallahassee MSA 106,365 90,055
Tampa - St. Petersburg - Clearwater MSA 88,679 83,491
West Palm Beach -Boca Raton Raton MSA 134,040 107,949
Monroe County 135,714 124,875
Other Areas 106,365 98,523
*Source: Revenue Proclamation 94-55, U.S. Department of Treasury
~.....
I
I
EXHIBIT III
1996-1997 AVERAGE/MAXIMUM AWARDS
STRATEGY #1
REHABILITATION OF EXISTING HOMES
Proposed average cost per unit.................. ........ ....... ................................................... $15,000
Proposed maximum cost per unit........ ......... ...... ............................. ......................... ...... 20,000
Proposed 1996-1997 maximum cost per unit..... ............ ........................ ........................ 20,000
Proposed 1996-1997 average SHIP cost per unit .......... .......... ..... ......... ....................... 15,000
Number of households assisted.. ................... ...... .................................................. ...... ......... .18
STRATEGY #2
NEW CONSTRUCTION/DEVELOPMENT
OF HOUSING UNITS
Proposed average cost per unit.................................................................................... $15,000
Proposed maximum cost per unit................................................................................... 20,000
Proposed 1996-1997 maximum cost per unit................................................................. 20,000
Proposed 1996-1996 average SHIP cost per unit......................................................... 15,000
Number of households assisted ............................................................................................ 11
STRATEGY #3
DOWNPAYMENT FINANCING ASSISTSANCE
EXISTING HOME PURCHASE
Proposed average cost per unit...................................................................................... $2,583
Proposed maximum cost per unit ............. ............................. ................... ................... ......2.750
Proposed 1996-1997 maximum cost per unit...... ................ .................. ............... ...... .......2, 750
Proposed 1996-1997 average SHIP cost per unit............................................................2,583
Number of households assisted ....... ........ .......... .................................... ..................... ...........22
MAXAWDS.FRM
I
I
ATTACHMENT A
HOUSING DELIVERY GOALS
FY 96-97
FLORIDA HOUSING FINANCE AGENCY
HOUSING DELIVERY GOALS CHART
STRATEGIES FOR THE LOCAL HOUSING ASSISTANCE PLAN FOR STATE FISCAL YEAR: 1996-97
_ PIon:
x
~ Yr. c::loMcU:
--
Name of Local Government: City of Clearwater
ArruIII__
$ 572 384
IA B _
:::))'::;:!itP~~~H1~,~""",~,) ":"""':':':";';:;';'::;:;':"""":"';} .... }};~~..::l~,IM,~,SHllil,AwaidS',;:',"';:"";,:":;,,,,,;,;;,"",:"",,:,::',::~',~'i':'::~: ;,i,'NiiW:COOSlroctlOif} ...... .. ... .. .::~,~~ i:.. ....:.. i:;>: ~
~(((~\~(($#.fA~lE$.\~((((~\' Urils Mllldnun SHIP Urils Mllldnun SHIP Urils Mllldnun SHIP T..... "01 SHIP "01 SHIP "or SHIP
~~~.!!WII -'-" ";;'000 '"" 5 ';:'000 -, ~ 000 ~ 18 ~ - "';.. ::'-000 ~ - 's 315 000 18
2. NewConl1Nc1lonHome Pu"d1ese 1 20000 5 15000 5 10000 11 11 $ 145,000 ~ . - $ 145000 11
3. E>dI1Ino Home Pu"d1e.. 6 2 750 11 2 500 5 2 500 22. . ~ 22 $ 56 SOO $ 56.l5OO 22
===~;;;~~:~:;:~::,~",:,',:,;"';,;:,"',:;;:::,';.;;,.;;;:;;:;':;;'::':~.I~.::i::::~~:l::::':.:::::;::.:::::::i~:.;:;:;",;:"",:"::,::,,::!::,.',,,,:,~:::::;,..;:,:::;,,~1.~..:D;:'}.~;: :~= .;. : SOO~:.~ 51:O~ 51
:::;:.::::::::::'::::::::::rI~III::::::::::::::::::::::if:; V:::~ M7"':IP:: ~:HIP = M~IP = ~ =: ~ :: := =.
1.
2.
3.
SUltotal 2 . ",:,,:;:;;,:::::,":::;;::;:::,:,:::,:: . .:,:,:,:,:;:,:::,:::;:;:::,:::,:,:,:,:;:,: . :;:;:;:,:::::::;:;:;:::,:::;:,:;:;:::::::;. . . $ . . $ _ . $ _ $ .
Aaninil1r1l1lon F..... .,. ... ."""IWO:,'joji!i!i(.... .",:... .,... ........ ;;~l:I~;:tif;._.... . ;:,:::::,:::,;::::::;:,,;:,:,:,:,';::~:::,i',:::::,'::;::':::';i::',:,i'::,i:,i:;:::,:~:,i::i::i:;~ii:,:;:;iii':~~~,::;M::::i~,'~,:",:~~~,:i~~:::.,,-::::~:;~,*;.. ~... .. ~$ 55 884
Home OwnershlD Ccu1seIno ;;:;:;:;:;:::;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:::;:::;:;:;:::::::::;:::::::::::::::::::::::;:::;:::::::::::~:::::::::::::::::::::::::::::;:::::::::::::::::::::::::::::::::::::;:::::::::;::::::::::::~:::::;::::::::::::::::::::;:::::::::::::::~:::::::::::::::::::::::::~::::::::::;:::::::::::::::::::::::::::::::::::::::~~::::::::~~:::::::::::::::::::::~::~:~:::::::::~:::::~~:::::::~::::::::'t.~::$::~:~:::~~:;:~::::::::::~~"*':::.::::'::~~~S-
GRAND TOTAL 18 ::"::.,,.:::,;,::,:;::::.:::,::,:,1 21~.::::.:::::::::::'..;:'::.:.'::..:.:'::. 121::.:::::::.::::.,.:::..::::.:.':..:::'1 51 11 $ 145000 I 181$ 315000 I 221$ 56500 $ 5n384
=-= ~=; Very L~ 35% .:::.:!::'::\!;:!i::::::;:::;:::::::: ~'7 % ~4% :::::)::::;:::::;:;:::::;::::~::::::t:~:::::~;::::iiili1:::ili1@:;~i::~:m:;:\;.:;::.;::;::;.::;;/:. .::::::i;I;~m~l~jilll)lli1a)"-''1
PeIl:en_Con.It1Jc_fllr.b.f7~+ (;i6ililf~litliS/'iit..... .. ~twi~.A::ac'j~~WIiill~~iiit;rijIMII"liIUlt:~~,~@~:&~".:;,@):~~~~\ii:~~~x '~~ 80.4~
~:~aU= ~::,ble :::::::::::::::::::::::::::::::::::::::::::::::::::~~::::::~:;:::::::::::::::::::::~:::~:::~:~:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::':::t::::::::::::::::::~::~~:~::I:::::::::::~:::~::::::::,:::;::::~;::::::::::::::::::::~:::::::::::::~:::::::::::::~:::::::I:::::I:::I:::::::::I:::::::::::~:::::~::::::::::::::::::::::::::~::::::::::::::::::::::::::::::::::::~::::::::::~l::~::~:::::::::::::::::::::::::::::~:::l:::~ =.r. :: :: :~
51
-
I
I
ATTACHMENT B
TIMELlNE FOR EXPENDITURES
-
ATTACHMENT B
TIMELlNE TABLE FOR FISCAL YEAR 1996-1997
CITY OF CLEARWATER
1996 1997
JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN
X
X X X X
X X X X X X X X X X X X
X X X X X X X X X X X
X X X X X X X X X X X
X
-,
I
ATTACHMENT C
CERTIFICATIONS
I
I
I
CERTIFICATION TO FLORIDA HOUSING FINANCE AGENCY
Local Government: City of Clearwater, Florida
(1) The local government will advertise the availability of SHIP funds pursuant to Florida
Statutes.
(2) All SHIP funds will be expended in a manner which will insure that there will be no
discrimination on the basis of race, creed, color, age, sex, familial status, handicap,
religion, or national origin.
(3) A process for selection of recipients for funds has been developed.
(4) The eligible municipality or county has developed a qualification system for
applications for awards.
(5) Recipients of funds will be required to contractually commit to program guidelines.
(6) The Florida Housing Finance Agency will be notified promptly if the local govern-
ment (or interlocal entity) will be unable to comply with the provisions of the plan
(7) The Local Housing Assistance Plan shall provide for the expenditure of SHIP funds
within 24 months following the end of the State fiscal year in which they are
received.
(8) The plan conforms to the Local Government Comprehensive Plan, or that an
amendment to the Local Government Comprehensive Plan will be initiated at the
next available opportunity to insure conformance with the Local Assistance Plan.
(9) Amendments to the approved Local Housing Assistance Plan shall be provided to
the Agency within 21 days after adoption.
(10) The trust fund shall be established with a qualified depository for all SHIP funds
as well as moneys generated from activities such as interest earned on loans.
(11) Amounts on deposit in the local housing assistance trust fund shall be invested
as permitted by law.
(1 2) The local housing assistance trust fund shall be separately stated as a special
revenue fund in the local governments audited financial statements, copies of
the audit will be forwarded to the Agency as soon as available.
(13) An interlocal entity shall have its local housing assistance trust fund separately
audited for each state fiscal year, and the audit forwarded to the Agency as soon
as available.
I
I
Page -2-
CERTIFICA TION
(14) SHIP funds will not be pledged for debt service on bonds or as rent subsidies.
(15) Developers receiving assistance from both SHIP and the Low Income Housing Tax
Credit (L1HTC) Program shall comply with the income, affordability and other L1HTC
requirements, Similarly, any units receiving assistance from other federal programs
shall comply with all Federal and SHIP program requirements.
(1 6) Loans shall be provided for periods not exceeding 30 years, except for deferred pay-
ment loans or loans that extend beyond 30 years which continue to service eligible
persons.
(17) Rental Units constructed or rehabilitated with SHIP funds shall be monitored at
least annually for 15 years for compliance with tenant income requirements and
affordability requirements.
Witness
/ /' .
1~ cd-- Lv\:) I~~
Kathy S. Rice \
"
Deputy City Manager
Witness
Date
'1/.,J~/c;<r
Attest:
(SEAL)
hia E. Goudeau
Clerk