www.mymanatee.org
Manatee County Government Administrative Center Honorable Patricia M. Glass Chambers, First Floor 9:00 a.m. - October 8, 2019
October 8, 2019 - Regular Meeting
Agenda Item #51


Subject
Resolution R-19-141 Amending the 2018-2021 Local Housing Assistance Plan

Briefings
None

Contact and/or Presenter Information

Geri C. Lopez, Director of Redevelopment and Economic Opportunity, ext. 3937

Denise L. Thomas, Housing and Community Development Manager, ext. 3474



Action Requested
Adoption of Resolution R-19-141, amending Resolution R-18-180, providing for revisions to Manatee County's FY 2018-2021 Local Housing Assistance Plan for the State Housing Initiative Partnership (SHIP) program.

Enabling/Regulating Authority

Comprehensive Plan 6.1.1-6.1.5 - Housing Element Goals and Objectives

Ordinance 08-44 - State Housing Initiative Partnership (SHIP) Program

Florida State Statute 420.9072(3)(c) - State Housing Initiative Partnership Program

Administrative Rule 67-37.006 - Review of Local Housing Assistance Plans and Amendments

Resolution R-18-059 - Adoption of FY 2018-2021 Local Housing Assistance Plan



Background Discussion

On April 24, 2018, the Board of County Commissioners approved Resolution R-18-059 providing for adoption of Manatee County's Local Housing Assistance Plan (2018-2021).

On April 27, 2018, staff transmitted the plan to the Florida Housing Finance Corporation (FHFC)  for review and approval.

On May 23, 2018, Florida Housing Finance Corporation Review Committee approved Manatee County's Local Housing Assistance Plan (2018-2021) subject to incorporation of minor technical revisions to the plan.

Staff revised the plan to incorporate the minor technical revisions and forwarded the final plan to the State as requested.

On November 27, 2018, the Board of County Commissioners adopted Resolution R-18-180 incorporating additional revisions to ensure consistency in program administration.

Due to the tight labor market, sharp increases in the sales prices of homes, and increases in the cost of construction materials, the opportunity for homeownership has become limited due to the shortage of available housing stock for purchases within affordable price ranges.  Based on these reasons, there is a need to increase the maximum affordable purchase price to create greater opportunity for homeownership for our very low, low, and moderate-income households. The new maximum affordable sales prices are $160,000 for very low, $176,000 for low, and $192,000 for moderate-income households.

With the subsequent increase in maximum purchase price levels, there is also a need to increase the funding assistance levels for downpayment assistance to low and very low-income households to maintain the affordability of the home purchase. The new maximum downpayment assistance levels are $40,000 for very low and $35,000 for low-income households. The assistance for moderate-income households remains at $25,000.

Adoption of Resolution R-19-141 will provide for incorporation of the revisions for program administration and implementation.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Please provide two certified copies of Resolution R-19-141 to Denise L. Thomas, ext. 3474 (denise.thomas@mymanatee.org)

Cost and Funds Source Account Number and Name
None

Amount and Frequency of Recurring Costs
None


Attachment:  Resolution R-19-141 - Amend 2018-2021 LHAP.pdf
Attachment:  Manatee County 2018-2021 Revised LHAP - Oct 8, 2019.pdf