SUBJECT
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Adopt a resolution authorizing the Real Estate Services Director to sign and submit vouchers for SHIP program funds to closing agents. (No fiscal impact)
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DESCRIPTION
In conjunction with the State Housing Initiatives Partnership Act ("SHIP") the County identified Purchase Assistance as a strategy in its Local Housing Assistance Plan. The Purchase Assistance awards SHIP program funds to households that qualify for payment toward down payment and closing cost expenses incurred during the purchase of a newly constructed or existing home. The County currently utilizes a vendor, Housing and Neighborhood Development Services of Central Florida, Inc ("HANDS"), to perform the services necessary to award SHIP down payment and closing cost assistance under a contract which is in place through February 2026. For cost and quality effectiveness the County's Housing and Neighborhood Development Office ("HND") has requested the assistance of the Real Estate Services Division ("RES") to transition these services in-house through the joint efforts of HND and RES staff. Under the ongoing process, payments are made by HANDS to the closing agents and reimbursed by the County.
In order to more efficiently provide these services when utilizing County forces it is requested that the Board adopt a resolution authorizing the Real Estate Services Director to sign and submit voucher requests necessary for the release and transfer of County-held SHIP funds, upon HND review and approval, to closing agents for payment towards a qualified household's down payment and closing cost expenses for individual transactions in which the total SHIP Purchase Assistance does not exceed $50,000.
RECOMMENDATION
Request Board adopt a resolution Real Estate Services Director to sign and submit voucher requests necessary for the release and transfer of County-held SHIP funds, upon HND review and approval, to a closing agent for payment towards a qualified household's down payment and ...
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