Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
title
MOTION TO APPROVE Agreement between Broward County and Broward County Housing Authority providing State Housing Initiatives Partnership (“SHIP”) Program Funding for Foreclosure Prevention Assistance in substantially the form attached as Exhibit 1 (the “SHIP Agreement”); and to authorize the County Administrator to execute the SHIP Agreement with any required modifications, provided such modifications do not impose any additional material financial risk on the County, and subject to review and approval as to legal sufficiency by the Office of the County Attorney.
body
Why Action is Necessary
Board action is required to approve funding agreements.
What Action Accomplishes
Approves the SHIP Agreement to provide the Broward County Housing Authority funds to provide foreclosure prevention assistance to Broward County residents.
Goal Related Icon(s)
☒County Commission
☐Go Green
☐MAP Broward
Previous Action Taken
None taken.
Summary Explanation/Background
THE RESILIENT ENVIRONMENT DEPARTMENT AND THE HOUSING FINANCE DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board’s vision of, “offering sustainable, compatible, innovative housing options for all income levels, including integrated, permanent supportive housing and rapid rehousing,” and its corresponding goal to “strengthen stakeholder partnerships to increase the availability of affordable housing of all types (e.g., rental, purchase, supporting, etc.) countywide in every community.”
On August 22, 2023 (Agenda Item No. 48B), the Broward County (the “County”) Board of County Commissioners (the “Board”) adopted Resolution No. 2023-322, approving the allocation of $200,000, in State Housing Initiatives Partnership (“SHIP”) program funding to the foreclosure prevention strategy (hereinafter, the “SHIP Funds”).
The form of the Agreement between Broward County and Broward County Housing Authority Providing State Housing Initiatives Partnership Funding for Foreclosure Prevention Assistance (the “SHIP Agreement”), attached as Exhibit 1, awards the SHIP Funds to the Broward County Housing Authority (“BCHA”) for BCHA to assist a minimum of twelve Eligible Persons (as defined in the SHIP Agreement) who are delinquent in their mortgage payments for at least 60 days. SHIP Funds will be used by BCHA to bring mortgages current, including maintenance payments in foreclosure, special assessments, and other fees in an effort to avoid a foreclosure action. Additionally, beneficiaries of the SHIP Program assistance will receive credit counseling prior to receiving SHIP Funds.
The SHIP Agreement provides that the County Administrator may increase the SHIP Funds up to the maximum amount provided for the foreclosure prevention strategy under the County’s Local Housing Assistance Plan or approved by the Board for the foreclosure prevention strategy.
In addition to approving the SHIP Agreement in substantially the form attached hereto, this item authorizes the County Administrator to make non substantive modifications to, and execute, the SHIP Agreement, subject to review for legal sufficiency by the Office of the County Attorney.
The Office of the County Attorney has approved the form SHIP Agreement for legal sufficiency, attached hereto.
Source of Additional Information
Ralph Stone, Director, Housing Finance Division, 954-357-5320.
Fiscal Impact
Fiscal Impact/Cost Summary
No fiscal impact. The $200,00 in funding will be disbursed from the State of Florida funded SHIP Local Housing Assistance Trust Fund account.