SUBJECT
title
Approve modification No. 2 of State Housing Initiatives Partnership (SHIP) Rehabilitation program Homeowner Assistance Agreement and Grant Agreement for the property located in Winter Haven, FL., for Case #DR24-S-IAN-012. ($3,913.00 one-time expense).
body
DESCRIPTION
Case #DR24-S-IAN-012 was approved for rehabilitation on August 6, 2024, with a mortgage of $185,900.00 and a grant agreement of $7,829.20 for a total project cost of $193,729.20.
Modification No.1, for additional work needed to remove household items was approved on October 15, 2024, resulting in an increase of the Home Assistance Agreement by $6,500.00, and an increase of the Grant Agreement by $42.00. Modification No. 1 increased the Home Assistance Agreement to $192,400.00 and the Grant Agreement to $7,871.20 for a total increase of $6,542.00 and a total updated project cost of $200,271.20.
Modification No. 2 will increase the project cost to cover the difference in cost of a raised septic system. The cost of the additional repairs will be $3,880.00 and the additional recording costs will be $33.00 resulting in a total increase of $3,913.00. Modification No. 2 will increase the Home Assistance Agreement to $196,280.00 and the Grant agreement to $7,904.20 for a total project cost of $204,184.20.
RECOMMENDATION
Request approval of this SHIP modification rehabilitation program agreement.
FISCAL IMPACT
Funds are available in the Affordable Housing Trust Fund.
CONTACT INFORMATION
Marie Smoker
Housing Administrative Supervisor
mariesmoker@polk-county.net
863-534-5241