SUBJECT
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Approve Modification No. 1 of State Housing Initiatives Partnership (SHIP) Rehabilitation program Homeowner Assistance Agreement and Grant Agreement for the property located in Frostproof, FL for Case# RC22-SHIP-015. ($1,216.80 one-time expense).
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DESCRIPTION
Case RC22-SHIP-015 was approved for rehabilitation on September 5, 2023, with a mortgage of $204,000.00 and a grant agreement of $9,983.20 for a total project cost of $213,983.20. During the rehabilitation it was determined that additional work is needed to decommission unforeseen 2” well found by well driller. The cost of the additional work will be $1,200.00 and the additional recording costs will be $24.00. This increases the mortgage to $205,200.00. Due to the State Approved Grant Award limit of $10,000.00 an adjustment of -$7.20 was made to the Service and Delivery cost. This adjustment reduced the grant agreement to $10,000.00, for a total project cost of $215,200.00.
RECOMMENDATION
Request approval of this SHIP Rehabilitation Program Agreement Modification No. 1
FISCAL IMPACT
Funds are available in the Affordable Housing Trust Fund.
CONTACT INFORMATION
Jennifer L. Cooper
Housing & Neighborhood Development Manager
jennifercooper@polk-county.net
863-534-5209