SUBJECT
title
Approve Amendment No. 1 to Agreement 2023-002 with the Housing and Neighborhood Development Services of Central Florida, Inc. to administer the State Housing Initiatives Partnership down payment and closing cost assistance program. (Estimated budgeted increase of $26,500.00 annual expense)
body
DESCRIPTION
On February 7, 2023, the Board approved Agreement 2023-002 with the Housing and Neighborhood Development Services of Central Florida, Inc. (HANDS) to administer the County’s State Housing Initiatives Partnership (SHIP) down payment and closing cost assistance program for the very low-, low-, and moderate-income homebuyers with down payment and closing cost assistance. HANDS receives a $2,000.00 underwriting fee for each homebuyer it assists. This fee has been in place under this agreement and previous agreements for the past ten years.
On October 23, 2024, the Affordable Housing Advisory Committee reviewed and approved HANDS request to increase the underwriting fee resulting from cost-of-living increases for staff and administrative cost increases for supplies
On November 19, 2024, the Board approved several amendments to the Local Housing Assistance Plan, including an increase in the underwriter fee from $2,000 to $2,500 per client.
Amendment No. 1 to the Board’s agreement with HANDS to implement the program is the final step required to increase the underwriting fee, which will take effect on January 21, 2025.
RECOMMENDATION
Request the Board approve Amendment No. 1 to Agreement 2023-002 with HANDS to administer the SHIP down payment and closing cost assistance program.
FISCAL IMPACT
Funds are available in the Affordable Housing Trust Fund.
CONTACT INFORMATION
Ari Goldstein
Senior Procurement Analyst
863-534-6415
arigoldstein@polk-county.net