County Votes To Fund Several Volusia Housing Assistance Programs

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Volusia County, FL  - Update: The Volusia County Council voted unanimously during their Thursday meeting to approve its consent agenda.

This means that the additional funding opportunities and changes to several Volusia County housing assistance programs were passed.

Earlier Reporting:

During the next Volusia County Council meeting, council members will decide on several agenda items geared towards homebuyer and homeowner assistance programs.

The Council will decide whether to approve several revisions to Volusia County's State Housing Initiatives Partnership (SHIP) local housing assistance plan (LHAP). In the last 5 years, SHIP has helped 146 homebuyers in the County purchase their first homes.

The revisions proposed include adding repairs and replacements of damaged septic systems and wells in addition to the repairs and replacements of roofs and heating, ventilation, air conditioning (HVAC) systems already covered by SHIP.

The proposal changes the strategy from the Roof/HVAC program to "Targeted Repairs" to include the new services. Another revision is to allow only the septic or well system replacement even if other repairs are needed and to utilize a contractor for the repairs or replacements. Also, the maximum amount awarded would change from $20,000 to $25,000.

The LHAP would also be revised by adding clarification to energy conservation and green features to housing rehabilitation projects. The revision would make these features incorporated in every rehabilitation project if it is within the budget.

The Council will also decide whether to change other areas of the SHIP/LHAP and the Affordable Housing Program Policy. One change would be to increase the money available to low-income households to help them purchase homes at Volusia's basic home quality standard. This additional subsidy request is brought up now since median sale prices are 48% higher than in 2011, which is when the County decreased the number of housing subsidies.

High subsidies for extremely low-income households would also be ended since SHIP has only assisted two cases since 2009. These households would still be eligible for very low-income household subsidies.

The last revision to the SHIP/LHAP would be to change the maximum home purchase price from $151,000 to $156,750 at 80% of area median income (AMI) or less. The moderate income level will remain at the same maximum home purchase price at $225,000.

The goal of raising grant funding is to allow home buyers in programs like SHIP, HOME Investment Partnerships Program and Community Development Block Grants (CDBG) buy homes in Daytona Beach and Deltona which were previously excluded due to costs.

The Volusia County Council will also decide whether to approve the 2017-2018 U.S. Department of Housing and Urban Development (HUD) action plan. The plan includes $1,731,679 of CDBG funds, $571,050 of HOME funds and $153,179 of Emergency Solutions Grant (ESG) entitlement funds.

The total $2,455,098 of grant funds is $44,756 more than in the 2016-2017 funding year. The proposed income from these programs is $150,000 for CDBG and $100,000 for HOME.

The Council will also vote on an interlocal agreement between the Housing Finance Authority of Lee County and the Housing Finance Authority of Volusia County. The agreement would allow Lee County's “Own a Home Opportunity Program" to run in Volusia County. The program would allow low to moderate income Volusia County homebuyers to receive mortgage loan financing, closing cost, and down payment assistance.

Those eligible for the program would be subject to appropriate maximum incomes and home prices, FICO credit scores and debt-to-income ratios. The program is not a revenue bond program but rather a program that offers 30-year fixed rate mortgage loans.

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